The dynamics of the medical device industry are consistently evolving and the top orthopedic implant companies are the ones paving the way. Recent research reports forecast a CAGR of 4% by 2020 with factors such as an aging population and the continued prevalence of orthopedic diseases augmenting the prospective growth in this industry. New trends and niche segments are also starting to dominate headlines; generating steam for future growth, such as more companies investing in manufacturing spinal orthopedic device products. Ths segment will account for 27% of the market share by 2020. To expand this growth even further, in terms of dollar figures, the orthopedic devices market will exceed US$47.50 billion globally by 2022.
Here’s the deal: The leading orthopedic implant companies listed here are revolutionizing the entire orthopedic device industry as their sheer size alone influences the entire commercialization process. These orthopedic medical device companies must make arduous business moves in order to maintain their growth and market prevalence. BizVibe also allows the opportunity for B2B trade professionals to network with the top suppliers in two key markets.
But first, are you looking to build a huge audience in the industry today? BizVibe has created a new business platform for B2B trade professionals, where users can network with the top companies from two key markets in the orthopedic device industry. Check them out:
Business Networking Opportunity: Orthopedic Device Manufacturers from Germany
Business Networking Opportunity: Orthopedic Equipment Suppliers in India
Johnson & Johnson truly does it all. As one of America’s favorite medical device companies, it’s no surprise they’re the top choice and widely acknowledged for the best orthopedic implants. DePuy Synthes specializes in orthopedic devices used to reconstruct joints, improve traumatic skeletal injuries, relieve spinal deformities and repair damaged soft tissue. Johnson & Johnson’s projected worldwide orthopedic devices sales in 2020 are $11.3 billion with a market share forecasted at 27.7%.
Biomet was acquired by Zimmer in 2015 and is now Zimmer Biomet, an American orthopedic implant manufacturer. This multifaceted medical device company has headquarters in Indiana but also several ongoing operations in over 25 major countries including Australia, Canada, and the Netherlands. Zimmer Biomet is most known for the design, development, manufacturing, and marketing of orthopedics products like the knee, hip, foot and ankle artificial joints, as well as dental prostheses. This makes Zimmer Biomet highly-influential among the top orthopedic implant companies on this list. Zimmer Biomet currently employs 17,500 people and brought in $7.5 billion in revenue in 2015. Their forecasted sales for 2020 top $8 billion with a market share of 21% — making Zimmer Biomet the most promising company in the market going forward.
Stryker is a Fortune 500 medical company located in Kalamazoo, Michigan. This US orthopedic implant manufacturer produces top-of-the-line implants for joint replacements, trauma surgeries, orthopedic spinal devices, orthopedic surgical equipment and so much more. Stryker only markets its advanced orthopedic implant products directly to doctors, hospitals and healthcare providers in the US while also offering their products in more than 100 different countries through Company-owned sales subsidiaries and branches. Their projected 2020 worldwide orthopedic sales are $7.4 billion with a market share of 16.2%.
Medtronic supplies doctors and surgeons around the globe with high-tech medical devices. In 2016 they launched a new unit that now focuses on total joint replacement devices and implants, including knee arthroplasty. They acquired Responsive Orthopedics as their first dip into the orthopedic implant device market. Despite their newbie status, Medtronic is forecasted to bring in $3.9 billion in worldwide device sales in 2020 with a projected market share of 8.6%.
Arthrex is an American orthopedic implant company that develops more than 11,000 orthopedic implant technologies and surgical procedures to improve orthopedic devices on a global scale. More than 90% of their medical devices are American-made orthopedic implants shipped to over 100 countries across the globe. This global medical device company also leads the way in orthobiologics, as well as arthroplasty and surgical breakthroughs of treating arthritis. Industry experts are forecasting $2.9 billion in worldwide orthopedic sales in 2020 with a 6.3% market share.
Must Read: Top 10 Oncology Drugs Companies (2017)
Smith & Nephew is an orthopedic implant company based out of the UK that focuses on orthopedic reconstruction products. This multinational company has been around since 1856, supplying the world with the best joint replacement systems for knees and hips. This makes Smith & Nephew one of the oldest among the top orthopedic implant companies in this list. This company’s independent clinical studies and in-house laboratory studies has manufactured the best orthopedic implants in the world. Smith & Nephew has a projected $2.5 billion in worldwide sales in 2020 for their orthopedic products, dominating with a 5.6% market share.
NuVasive is an American orthopedic device company that assists those undergoing surgical treatments, mainly spine disorders. This company’s principal product includes a minimally disruptive surgical platform called Maximum Access Surgery that combines three product categories: NeuroVision – a software-driven nerve avoidance system, MaXcess -a unique split-blade design retraction system, and specialized orthopedic implants. They also manufacture other lower limb orthopedic implant devices that connect to a controller to help noninvasively lengthen an implant device. NuVasive’s 2020 projected worldwide orthopedic sales is estimated at $1 billion with a 2.2% market share.
Globus Medical employs 100 surgeons, engineers, and machinists for their product development alone. This helps to offer this orthopedic device company much success in creating a ‘spine innovation engine’ that delivers state-of-the-art musculoskeletal implants to promote healing in patients with spine disorders. This orthopedic implant manufacturing company has an impressive product portfolio of over 150 spine products that focus on both innovative orthopedic fusion products and disruptive technologies. This reputable orthopedic implant company has a projected $778 million in global sales in 2020 with a 1.7% market share.
Wright Medical Group is an American global medical device company that is a recognized leader of orthopedic supports for upper and lower extremities like elbows, wrists, feet, and ankles. Their projected worldwide orthopedic implant sales in 2020 exceed $600 million with a 1.3% market share, mainly due to this orthopedic implant company’s focus on extremities and biologics. Innovative products like their Augment ® bone graft, approved by the FDA in September of last year, that keep Wright Medical Group as a key innovator among the top orthopedic implant companies.
Corin is a UK orthopedic implant company founded in 1985. They specialize in reconstructive orthopedic implants and devices for a variety of joint replacement surgeries. They also are developing a computerized surgical system for joint replacement procedures. Their most popular products include their new cement-less hip systems. Corin currently employs about 320 employees.
Your business network will be flush with contacts from the most reputable and profitable orthopedic implant companies in the world when you register for BizVibe’s free networking platform. Whether you’re looking for the best joint replacement suppliers, specialized orthopedic implant manufacturers or just conducting industry research, BizVibe can help you reach your professional goals by instantly connecting you with the top orthopedic implant companies in the world.
Connect with new sales prospects and key decision makers in the medical device market today.
Register for free now to build your own network and reach out to the top orthopedic implant companies on BizVibe.