The global orthopedic devices market is expected to grow from $36.3 billion in 2022 to $48.1 billion by 2028, according to a new report by MarketsandMarkets. This 4.8% compound annual growth rate is largely driven by aging populations, technological innovation, and increased demand for minimally invasive procedures.
What’s driving growth?
- Aging demographics are increasing the prevalence of orthopedic conditions like arthritis and osteoporosis.
- Technological advancements such as 3D printing and robotics are streamlining surgeries and improving patient outcomes.
- Trauma and sports injuries are also fueling demand for orthopedic interventions.
North America leads in market share due to advanced healthcare infrastructure, while Asia-Pacific is expected to see the fastest growth.
Challenges include high treatment costs, regulatory hurdles, and a shortage of trained specialists.
