The device company industry is constantly changing, with mergers and acquisitions rife within the orthopedic market through 2020 and into 2021.
While dips in revenue were widespread across the medical device industry last year due to the cessation of elective surgeries because of the COVID-19 pandemic, many orthopedic companies are well positioned to recover this year. Fortune Business Insights estimates the market to be worth $53.4 billion and projects it to rise to $68.5 billion by 2027, increasing at a compound annual growth rate of 6.6 percent.
Fifty things to know about 10 of the biggest orthopedic device companies:
Editor's note: Revenue and sales figures are drawn from 2019 financial reports and include percentage changes from the prior year.
1. Johnson & Johnson (DePuy Synthes)
- 2019 orthopedics sales: $8.8 billion (+0.5 percent)
- 2019 total medical device sales: $25.9 billion (+3.8 percent)
- Number of employees: 12,000
- Headquarters: Warsaw, Ind.
- U.S. president: Tim Czartoski
2. Zimmer Biomet
- 2019 net sales: $7.9 billion (+0.6 percent)
- 2019 knees sales: $2.8 billion (+1.3 percent)
- 2019 hips sales: $1.9 billion (+0.7 percent)
- 2019 spine and craniomaxillofacial sales: $747 million (-2.2 percent)
- Number of employees: 19,000
- Headquarters: Warsaw, Ind.
- President and CEO: Bryan Hanson
3. Medtronic
- Restorative therapies group FY 2020 revenue: $7.7 billion (-5.6 percent)
- Minimally invasive therapies FY 2020 revenue: $8.4 billion (-1.5 percent)
- Total FY 2020 revenue: $28.9 billion (-5.4 percent)
- Number of employees: 90,000
- Headquarters: Dublin
- CEO: Geoff Martha
4. Stryker
- 2019 orthopedics sales: $5.3 billion (+5.2 percent)
- 2019 neurotechnology and spine sales: $3.1 billion (+19.2 percent)
- 2019 net sales: $14.9 billion (+9.4 percent)
- Number of employees: 33,000
- Headquarters: Kalamazoo, Mich.
- CEO: Kevin Lobo
5. Smith+Nephew
- 2019 orthopedics revenue: $2.2 billion (+2.5 percent)
- 2019 total revenue: $5.1 billion (+4.8 percent)
- Number of employees: 17,500
- Headquarters: London
- CEO: Roland Diggelman
6. NuVasive
- 2019 revenue: $1.2 billion (+6 percent)
- Number of employees: 2,800
- Headquarters: San Diego
- CEO: Chris Barry
7. DJO
- 2019 net sales: $1.1 billion (+2.7 percent)
- Number of employees: 5,500
- Headquarters: Dallas
- CEO: Brady Shirley
8. Globus Medical
- 2019 net sales: $785.4 million (+10.2 percent)
- Number of employees: 1,800
- Headquarters: Audubon, Pa.
- President and CEO: David Demski
9. Integra LifeSciences
- 2019 revenue: $1.5 billion (+3.1 percent)
- Total orthopedics and tissue technologies revenue: $521.4 million (+2.5 percent)
- Number of employees: 3,000
- Headquarters: Princeton, N.J.
- President and CEO: Peter Arduini
10. Ossur
- 2019 net sales: $686.3 million (+11.9 percent)
- Number of employees: 4,000
- Headquarters: Reykjavik, Iceland
- President and CEO: Jon Sigurdsson