Market Observations
Orthopedics
- The U.S. orthopedics market was valued at $59.2 billion in 2024 and is projected to grow at a CAGR of 6.5%, reaching $86.4 billion by 2030.
- Demand for orthopedic procedures are increasing, driven largely by rapid population aging. While adults over the age of 65 comprise only 17.3% of the current population, they generate 37.0% of diagnostic tests and 34.0% of inpatient procedures.
- With more than 10,000 U.S. citizens turning 65 every day, estimates suggest that, by 2050, nearly 1/4th of the total U.S. population will be 65 or older, further accelerating the need for orthopedic care.
- By modality, hand & wrist surgery accounted for the most volume of cases in 2024. That said, extremity joint surgery reigned supreme in terms of revenue, with these procedures accounting for 36.1% of total orthopedic surgery revenue. Given health and age dynamics in the U.S., total joint replacements are expected to continue climbing in prominence, with knee and hip replacement volume both expected to double by 2030.
Industry Snapshot
$59.2B → $86.4B
U.S. orthopedics market projected to grow at a 6.5% CAGR from 2024 to 2030
10,000+
Americans turning 65 everyday
36.1%
Revenue share from extremity joint surgery
5,800
Independent orthopedic practice groups today
