The global orthopedic market grew by 6.3% in 2023 to $59 billion as lost or deferred surgeries during the pandemic returned to the funnel and boosted orthopedic procedure volumes beyond historical norms — a tailwind that is expected to last through most of 2024, according to market research firm Orthoworld.
Here are 10 of the largest spine and orthopedic device companies ranked by 2023 net sales, including their year-over-year percentage changes compared to 2022.
Editor's note: This is not an exhaustive list.
1. Johnson & Johnson - Depuy Synthes: $8.9 billion (+4.1% YOY)
2. Stryker - Orthopaedics and Spine: $8.7 billion (+10.5% YOY)
3. Zimmer Biomet: $7.4 billion (+6.6% YOY)
4. Smith + Nephew - Orthopedics and Sports Medicine: $3.9 billion (+6.5% YOY)
5. Medtronic-Cranial and Spinal: $3.3 billion (+2.8% YOU)
6. Enovis: $1.7 billion (+9.2% YOY)
7. Globus Medical: $1.6 billion (+53% YOY)
*Merged with NuVasive Sept. 1, 2023.
8. Orthofix: $746.6 million (+52.1% YOY)
*Merged with SeaSpine Jan. 1, 2023
9. ZimVie: $457.4 million (-1.3% YOY)
10. Alphatec: $482.3 million (+37.5% YOY)