The global orthopedic contract manufacturing market size was estimated to be USD 6.62 billion in 2023 and is expected to reach at USD 22.10 billion by 2034 with a CAGR of 11.58% during the forecast period 2024-2034. The increase in technological advancements, a rise in the prevalence of orthopedic disorders, a surge in orthopedic surgeries, cost-effective outsourcing, expanding partnerships between orthopedic device firms & contract manufacturers, heightened emphasis on product development, growing pressure on Original Equipment Manufacturers (OEMs) to cut costs and expedite timelines, a rising occurrence of bone injuries from road accidents & sports-related incidents, heightened patient preference for personalized & tailored implants, a boost in medical tourism, and the growing regulatory approvals of orthopedic products are some of the key factors boosting the market growth.
Medical device contract manufacturing involves a company producing medical equipment or components of medical devices for medical instrument manufacturers. These products are subsequently distributed by contractors to both developing and developed countries worldwide. Growing regulatory approvals of orthopedic products is predicted to boost the market growth during the forecast period. For instance, in October 2023, Orthofix Medical Inc., a leading global firm focused on spine and orthopedic solutions, revealed the 510k clearance for OsteoCove, a groundbreaking bioactive synthetic graft designed for orthopedic applications. This clearance creates prospects for contract manufacturers to provide extensive manufacturing services.
By type, implants was the highest revenue-grossing segment in the global orthopedic contract manufacturing market in 2023 owing to the rising need for orthopedic implants, a growing occurrence of orthopedic conditions, an uptick in technological advancements related to implant materials and designs, an increased emphasis on creating and bringing to market innovative orthopedic implants, and a heightened demand for patient-centric products or personalized implants tailored to individual needs. For instance, in February 2023, CurvaFix, Inc., a company specializing in medical devices for mending fractures in curved bones, has introduced the 7.5mm CurvaFix IM Implant with a smaller diameter. This implant is engineered to streamline surgical procedures and deliver robust, secure fixation for patients with smaller bone structures. Additionally, cases is predicted to grow at the fastest CAGR during the forecast period owing to the growing prevalence of bone health issues like osteoarthritis, a rise in the request for top-tier orthopedic devices, cases, and related solutions.
By services, forging/casting was the highest revenue-grossing segment in the global orthopedic contract manufacturing market in 2023 owing to the rising influx of contract manufacturers is entering the orthopedic industry, with an increasing emphasis on expanding their services. Manufacturers are also making heightened investments in developing advanced materials for innovative orthopedic products. Additionally, spine & trauma is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for spine & trauma products, increasing occurrence of sports injuries, and a growing introduction of devices catering to spine & trauma conditions. For instance, in September 2023, Orthofix Medical Inc., a leading worldwide firm specializing in trauma and spine solutions, has unveiled the Galaxy Fixation Gemini system in the United States. This system is employed for external fixation in trauma situations.
By end-user, hospitals was the highest revenue-grossing segment in the global orthopedic contract manufacturing market in 2023 owing to the increase in the population with musculoskeletal and other medical conditions, driven by the expanding aging baby boomer demographic, a rise in the number of individuals classified as overweight or obese, a growing demand for orthopedic and medical alert devices, and an upward trend in mergers and acquisitions among market participants. For instance, in November 2022, Marle Group has successfully finalized the acquisition of Elite Medical, a leading vertically integrated contract manufacturer specializing in orthopedic implants and precision instruments. The company is headquartered in Tennessee. Additionally, specialty clinics is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of orthopedic disorders like degenerative bone disease is linked to a rising elderly population and an uptick in patient admissions.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing adoption of advanced technologies and specialized capabilities, coupled with an increasing preference for outsourcing medical device services, is driven by the need for high-maintenance and efficient systems in raw material management. Outsourcing manufacturing services also allows companies to concentrate on their core capabilities, share associated risks, enhance service delivery, and a rise in collaborations among market players. For instance, in June 2023, EOS, Tecomet Inc, Orthopaedic Innovation Centre (OIC), and Precision ADM have jointly declared a collaborative alliance, offering an integrated solution for additive manufacturing (AM) in the medical device sector. This partnership encompasses a wide range of services, including initial design and engineering services, validation of devices and machines, approval pathways for 510k, pre-clinical testing, and commercialization for various medical devices, including those in orthopedics. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increased need for enhanced orthopedic devices, a rise in expenditures on healthcare, a growth in the volume of medical procedures, an expanding aging population, and an uptick in the introduction of state-of-the-art devices. For instance, in July 2023, Stryker has introduced the Ortho Q Guidance system tailored for orthopedic surgical procedures. The system features updated optical tracking choices, including a redesigned, advanced camera equipped with sophisticated algorithms. This camera works in conjunction with the newly released Ortho Guidance software designed for Express Knee, Precision Knee, and Versatile Hip applications, according to the company.
Medical device contract manufacturing involves a company producing medical equipment or components of medical devices for medical instrument manufacturers. These products are subsequently distributed by contractors to both developing and developed countries worldwide. Growing regulatory approvals of orthopedic products is predicted to boost the market growth during the forecast period. For instance, in October 2023, Orthofix Medical Inc., a leading global firm focused on spine and orthopedic solutions, revealed the 510k clearance for OsteoCove, a groundbreaking bioactive synthetic graft designed for orthopedic applications. This clearance creates prospects for contract manufacturers to provide extensive manufacturing services.
By type, implants was the highest revenue-grossing segment in the global orthopedic contract manufacturing market in 2023 owing to the rising need for orthopedic implants, a growing occurrence of orthopedic conditions, an uptick in technological advancements related to implant materials and designs, an increased emphasis on creating and bringing to market innovative orthopedic implants, and a heightened demand for patient-centric products or personalized implants tailored to individual needs. For instance, in February 2023, CurvaFix, Inc., a company specializing in medical devices for mending fractures in curved bones, has introduced the 7.5mm CurvaFix IM Implant with a smaller diameter. This implant is engineered to streamline surgical procedures and deliver robust, secure fixation for patients with smaller bone structures. Additionally, cases is predicted to grow at the fastest CAGR during the forecast period owing to the growing prevalence of bone health issues like osteoarthritis, a rise in the request for top-tier orthopedic devices, cases, and related solutions.
By services, forging/casting was the highest revenue-grossing segment in the global orthopedic contract manufacturing market in 2023 owing to the rising influx of contract manufacturers is entering the orthopedic industry, with an increasing emphasis on expanding their services. Manufacturers are also making heightened investments in developing advanced materials for innovative orthopedic products. Additionally, spine & trauma is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for spine & trauma products, increasing occurrence of sports injuries, and a growing introduction of devices catering to spine & trauma conditions. For instance, in September 2023, Orthofix Medical Inc., a leading worldwide firm specializing in trauma and spine solutions, has unveiled the Galaxy Fixation Gemini system in the United States. This system is employed for external fixation in trauma situations.
By end-user, hospitals was the highest revenue-grossing segment in the global orthopedic contract manufacturing market in 2023 owing to the increase in the population with musculoskeletal and other medical conditions, driven by the expanding aging baby boomer demographic, a rise in the number of individuals classified as overweight or obese, a growing demand for orthopedic and medical alert devices, and an upward trend in mergers and acquisitions among market participants. For instance, in November 2022, Marle Group has successfully finalized the acquisition of Elite Medical, a leading vertically integrated contract manufacturer specializing in orthopedic implants and precision instruments. The company is headquartered in Tennessee. Additionally, specialty clinics is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of orthopedic disorders like degenerative bone disease is linked to a rising elderly population and an uptick in patient admissions.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing adoption of advanced technologies and specialized capabilities, coupled with an increasing preference for outsourcing medical device services, is driven by the need for high-maintenance and efficient systems in raw material management. Outsourcing manufacturing services also allows companies to concentrate on their core capabilities, share associated risks, enhance service delivery, and a rise in collaborations among market players. For instance, in June 2023, EOS, Tecomet Inc, Orthopaedic Innovation Centre (OIC), and Precision ADM have jointly declared a collaborative alliance, offering an integrated solution for additive manufacturing (AM) in the medical device sector. This partnership encompasses a wide range of services, including initial design and engineering services, validation of devices and machines, approval pathways for 510k, pre-clinical testing, and commercialization for various medical devices, including those in orthopedics. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increased need for enhanced orthopedic devices, a rise in expenditures on healthcare, a growth in the volume of medical procedures, an expanding aging population, and an uptick in the introduction of state-of-the-art devices. For instance, in July 2023, Stryker has introduced the Ortho Q Guidance system tailored for orthopedic surgical procedures. The system features updated optical tracking choices, including a redesigned, advanced camera equipped with sophisticated algorithms. This camera works in conjunction with the newly released Ortho Guidance software designed for Express Knee, Precision Knee, and Versatile Hip applications, according to the company.
Segmentation: Orthopedic Contract Manufacturing Market Report 2023 - 2034
Orthopedic Contract Manufacturing Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
- Instruments
- Implants
- Trays
- Cases
Orthopedic Contract Manufacturing Market Analysis & Forecast by Services 2023 - 2034 (Revenue USD Bn)
- Instrument Machining & Finishing
- Knee Machining & Finishing
- Hip Machining & Finishing
- Forging/Casting
- Spine & Trauma
- Others
Orthopedic Contract Manufacturing Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Specialty Clinics
- Hospitals
- Others
Orthopedic Contract Manufacturing Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Orthopedic Contract Manufacturing Market: Type Estimates & Trend Analysis
8. Orthopedic Contract Manufacturing Market: Services Estimates & Trend Analysis
9. Orthopedic Contract Manufacturing Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Orthopedic Contract Manufacturing Market
12. Europe Global Orthopedic Contract Manufacturing Market
13. Asia Pacific Global Orthopedic Contract Manufacturing Market
14. Latin America Global Orthopedic Contract Manufacturing Market
15. MEA Global Orthopedic Contract Manufacturing Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- ARCH Medical Solutions Corp.
- Orchid Orthopedic Solutions
- Tecomet Inc
- Avalign Technologies
- Cretex companies
- LISI Medical
- Autocam Medical
- Paragon Medical
- Viant
- Norman Noble Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 6.62 Billion |
| Forecasted Market Value ( USD | $ 22.1 Billion |
| Compound Annual Growth Rate | 11.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
