Orthopedics Industry Report: Market Insights & New Technologies

The 2024 Orthopedics Industry Report details the growing landscape of orthopedic medicine and technology. This report highlights the advancement in medical devices, innovative treatment methods, and the growing influence of startups reshaping the sector. The report explores the latest trends, key players, and investment patterns that provide insights into future opportunities within the orthopedics industry.

This orthopedics (also spelled as orthopaedics) report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.

StartUs Insights Orthopedics Market Report 2024

• Executive Summary
• Introduction to the Orthopedics Report 2024
• What data is used in this Orthopedics Report?
• Snapshot of the Global Orthopedics Industry
• Funding Landscape in the Orthopedics Industry
• Who is Investing in Orthopedics?
• Emerging Trends in the Orthopedics Industry
• 5 Innovative Orthopedics Startups

Executive Summary: Orthopedics Report 2024

This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 2200+ orthopedics startups developing innovative solutions to present five examples from emerging orthopedics industry trends.

• Industry Growth Overview: The orthopedics industry encompasses 2203 startups out of over 14420 companies and demonstrates an annual growth rate of 11.18%.
• Manpower & Employment Growth: The industry employs approximately 1 million people globally, with an employee growth of 67K in the past year alone.
• Patents & Grants: Over 34040 applicants filed 77510+ patents and secured 860+ grants.
• Global Footprint: Key hubs driving the industry’s growth include the USA, India, Germany, the UK, and Canada. Important city hubs are New York City, Mumbai, New Delhi, Bangalore, and Ahmedabad.
• Investment Landscape: The industry attracted over 800 investors, resulting in 2550+ funding rounds and investments in 990+ companies, with an average investment value of USD 13.9 million per round.
• Top Investors: Some of the top investors include Ossur, Bunzl, and SWK Holdings. The combined value invested by these top investors amounts to more than USD 317 million.
• Startup Ecosystem: Five startups include NC Biomatrix (injectable bioactive technology), Castomize (4D-printing technology), Nexgel Biotech (temperature-sensitive polyphosphazene hydrogel), Exo360 (meta material-based fracture treatment), and Forma Medical (toe arthrodesis surgery equipment).
• Recommendations for Stakeholders: Investors should target early-stage orthopedic startups developing technologies such as 4D-printed casts, bioactive hydrogels, and adaptive meta-materials. Focusing on solutions like injectable tissue restoration technology and advanced fracture immobilization systems to address specific needs in orthopedic care will assist new companies in this sector. Governments should implement supportive policies and increase funding for orthopedic R&D, particularly in areas like prosthetics, surgical robotics, and bone graft substitutes, to foster further advancement.

Explore the Data-driven Orthopedics Industry Report for 2024

The Orthopedics Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The heatmap provides a visual representation of the startup ecosystem captured in our database. Our database includes 2203 startups out of a total of over 14420 companies which reflects the innovative landscape of this sector.

The industry demonstrated an annual growth rate of 11.18%. Additionally, the sector filed over 77510 patents to highlight technological advancement and intellectual property development. The sector also secured 860+ grants which facilitated further research and development initiatives.

Globally, the industry employs approximately 1 million people, with an employee growth of 67K in the last year. The top hubs driving this growth span across major countries and cities, with the USA, India, Germany, the UK, and Canada leading the charge. Key city hubs include New York City, Mumbai, New Delhi, Bangalore, and Ahmedabad. Each plays an important role in developing innovation and attracting talent.

What data is used to create this orthopedics report?

Based on the data provided by our Discovery Platform, we observe that the orthopedics industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.

• News Coverage & Publications: Over 6600 news articles were published in the orthopedics sector in the last year.
• Funding Rounds: Our database records 2550+ funding rounds in this sector.
• Manpower: The industry employs over 1.3 million workers globally, and added about 67K new employees in the last year.
• Patents: The industry filed for over 77510 patents.
• Grants: It received 860+ grants.
• Yearly Global Search Growth: The sector experienced a 12.99% increase in global search interest.
• and more. Get in touch to explore all data points used to create this orthopedics report.

A Snapshot of the Global Orthopedics Industry

The orthopedics industry demonstrated growth and innovation, as highlighted by the data gathered for this report. The sector experienced an annual growth rate of 11.18%. With 2203 startups, the industry is a hub of entrepreneurial activity. These startups include over 410 early-stage companies that indicate a pipeline of emerging ventures, and more than 160 mergers and acquisitions reflect ongoing consolidation and strategic growth.

Innovation within the orthopedics sector is showcased with over 77510 patents filed from 34040+ applicants and a yearly patent growth rate of 1.94%. The USA leads in patent issuance with 26K patents, followed by China with 9K, highlighting the global nature of orthopedic advancement.

Explore the Funding Landscape of the Orthopedics Industry

Investment in the industry stands with an average investment value of USD 13.9 million per round. The sector attracted over 800 investors, resulting in more than 2550 funding rounds and investments in over 990 companies. This influx of capital highlights the potential of orthopedic innovations to drive future growth and improvements in healthcare.

Who is Investing in Orthopedics?

The orthopedics industry attracted investment from top investors, with a combined value exceeding USD 317 million. Here are some key contributors:

• PRIM supported 4 companies, with a total investment value of USD 90K.
• Innovate UK backed 3 companies, contributing USD 377K.
• SWK Holdings funded 3 companies, with an investment of USD 24 million.
• Techstars supported 3 companies with an investment totaling USD 750K.
• Marle invested USD 4 million across 3 companies.
• Bunzl financed 3 companies, with a total of USD 52 million.
• Ossur contributed USD 236 million to 3 companies.
• and more. Book a demo to explore all investment data in the orthopedics industry.

Access Top Orthopedics Innovations & Trends with the Discovery Platform

The Surgical Robotics trend is used in 300 companies. This sector employs a total of 31K+ people and saw an increase of 2K new employees in the last year. The annual trend growth rate for surgical robotics stands at 9.30%.

The Bone Graft Substitutes trend includes 100 companies within the sector. Employing a workforce of 500K+, the area added 20K+ new employees in the last year. This sector showcases an annual trend growth rate of 10.22%.

The Prosthetics trend comprises about 4K+ companies, collectively employing 162K+ individuals. Despite this workforce, the area added 8K+ new employees in the last year. However, the annual trend growth rate for prosthetics is slightly negative at -0.30%.

5 Top Examples from 2200+ Innovative Orthopedics Startups

The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.

NC Biomatrix develops the Injectable Bioactive Technology

Dutch startup NC Biomatrix develops tissue restoration technology to address chronic orthopedic conditions. It uses porcine notochordal biomatrix to trigger the native repair mechanisms of joint tissues. When mixed with saline solution, the powder forms a viscous gel injected into affected joints for therapy. The company’s technology, VitaDisc, offers biomechanical restoration by increasing height and volume in intervertebral discs or improving lubrication in osteoarthritic joints. This reduces inflammation and enhances tissue regeneration resulting in healthier joint tissues. 

Castomize builds the 4D-Printing Technology

Singaporean startup Castomize creates 4D-printed casts for patient comfort and support. The startup’s platform employs lightweight, breathable materials with an adjustable design. It utilizes 4D-printing technology to provide improved flexibility and durability. The application process involves heating the cast, placing it on the patient, and allowing it to self-mold for a custom fit. This cast is lighter, fully waterproof, and ventilated, enhancing patient comfort and safety. Also, it assists doctors with the tool-free application, increased accuracy in monitoring fracture healing, and the ability to utilize telemedicine. 

Nexgel Biotech uses Temperature-Sensitive Polyphosphazene Hydrogel

South Korean startup NexGel Biotech develops an original temperature-sensitive polyphosphazene hydrogel technology platform for medical applications. This hydrogel forms a three-dimensional network by combining hydrophobic amino acid ethyl ester and hydrophilic polyethylene glycol. At room temperature, it remains in a sol state, transitioning to a gel state at body temperature. This transition enhances the hydrophobic bonding force to create a hydrogel containing water molecules. The platform allows drug loading, biocompatibility, and controlled drug release. Applications include bio-ink, bone graft materials, cosmetic fillers, and drug delivery systems. 

Exo360 treats Meta Material-based Fracture

Denmark-based startup Exo360 utilizes adaptive meta-materials to develop Exo360 Wrist, a solution that conforms to any patient and controls pressure throughout healing. This immobilization system holds limbs in the correct position and promotes effective recovery. The Exo360 Wrist bridges the gap between casting and surgery, offering a similar appearance to a cast or brace with enhanced fracture stability. 

Forma Medical offers Toe Arthrodesis Surgery Equipment

US-based startup Forma Medical develops minimally invasive surgical systems for orthopedic procedures. The startup’s MIS AKIN system features 2.5 mm headless compression screws in various lengths within a compact system. Its targeting instrument includes a sighting wire, guided osteotomy window, and dorsal wire holes for optimal screw placement and toe positioning. For hammertoe treatment, the OptimalHT system provides a reproducible method through a minimally invasive approach, using 2.5 mm, 2.0 mm, and 1.9 mm implants. Moreover, the hammertoe-specific driver features a 2 mm diameter distally for extensive countersinking to further assist the surgeons in hammertoe correction.

Gain Comprehensive Insights into Orthopedics Trends, Startups, or Technologies

In conclusion, the 2024 Orthopedics Industry Report highlights the industry’s potential to address critical healthcare challenges and improve the quality of life for patients worldwide. As we move forward, sustained collaboration among key stakeholders, including startups, investors, and healthcare professionals, will be essential in fostering continued progress and realizing the full potential of orthopedic advancement. Contact us to explore all 2200+ startups and scaleups, as well as all industry trends impacting orthopedics companies.