Orthopedic Products Manufacturing in the US - Industry Market Research Report

Right Foot Forward: the Elderly Population is Expected to Continue Growing, Boosting Industry Revenue

The industry comprises companies that produce medical devices meant to support joints, bones and muscles. Over the past five years, this industry has benefited from the growing need for orthopedic care. This demand has particularly come from the rapidly aging population, as joint and muscle pain is a common sign of aging. Over the past five years, the rising number of adults aged 65 and older has been the most significant driver of industry revenue. Additionally, the rising adult obesity rate has further contributed to revenue growth, since obesity is a leading cause of joint problems. Over the past five years, industry revenue is expected to increase at a CAGR of 0.5% to $12.6 billion, including an estimated 1.1% decline in 2023. The outbreak of COVID-19 has not affected this industry significantly.

This industry manufactures orthopedic appliances or apparatus, including braces and orthotics. These products support, prevent or correct deformities and improve the function of body parts.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.