Report Overview

India Orthopedic Devices Market – Industry Trends & Forecast Report, 2030

The India Orthopedic Devices Market size was estimated at USD 1.54 billion in 2023. During the forecast period between 2024 and 2030, the India Orthopedic Devices Market size is projected to grow at a CAGR of 14.28% reaching a value of USD 2.24 billion by 2030. A prominent driver of the market is the increasing geriatric population, who are more prone to orthopedic ailments such as osteoporosis and arthritis. Notably, the rise in sports-related injuries and road accidents has contributed substantially to the demand for orthopedic devices. Also, advancements in technology and the introduction of innovative implants and prosthetics have played a crucial role in driving market expansion. Other driving factors are the government initiatives aimed at enhancing healthcare infrastructure, coupled with the increasing prevalence of lifestyle diseases, have led to a notable uptick in orthopedic surgeries, thereby boosting the demand for these devices.

Orthopedic Devices – Overview

Orthopedic devices are medical instruments, implants, or equipment used to treat or support the musculoskeletal system. These devices are designed to address various conditions affecting bones, joints, muscles, ligaments, and tendons. Examples of orthopedic devices include joint implants (such as hip and knee replacements), fracture fixation devices (like plates, screws, and rods), braces, splints, prosthetic limbs, and orthotic inserts. They are utilized in orthopedic surgeries, rehabilitation, injury prevention, and the management of musculoskeletal disorders and injuries.

India Orthopedic Devices Market

Growth Drivers

Government Support for Healthcare Infrastructure

The India Orthopedic Market reflects a dynamic landscape shaped by multinational dominance and evolving participation of domestic companies. Policy changes, including the draft proposal of the Medical Device Rules 2016 and the introduction of the Indian Certification of Medical Devices (ICMED), aim to align domestic standards with global benchmarks, fostering innovation and ensuring product quality. Despite strides, challenges persist, notably the lack of support infrastructure such as common testing laboratories and HA coating facilities. Further policy interventions, such as potential price controls, seek to enhance patient access to affordable healthcare. Enhanced collaboration with academic institutions and investment incentives can propel India towards becoming a medical device export hub, bolstering its position in global markets.

Challenges

Limited Insurance Coverage for Orthopedic Procedures and Devices

Orthopedic procedures incur substantial costs, with knee replacement surgeries ranging from USD 4,500 to USD 8,000 (INR 300,000 to INR 500,000) per knee. Despite a significant expansion in insurance coverage, less than 300 million Indians are currently insured. This leaves a significant portion of the population reliant on out-of-pocket payments, hindering access to costly orthopedic implants. Additionally, inadequate infrastructure in rural areas further restricts procedure accessibility, exacerbating the disparity in healthcare delivery. With public healthcare spending at just 30% of total expenditure, there's a pressing need to bolster insurance coverage to ensure equitable access to orthopedic care.

Impact of Escalating Geopolitical Tensions on India Orthopedic Devices Market

Geopolitical tensions can have a multifaceted impact on the India Orthopedic Devices Market. Uncertainty stemming from geopolitical conflicts may disrupt supply chains, leading to shortages of critical medical supplies and materials for orthopedic devices. Additionally, economic instability resulting from geopolitical unrest can affect healthcare spending and investment, potentially hindering market growth. Moreover, heightened geopolitical tensions may deter foreign investments and collaborations, limiting technological advancements and innovation in the orthopedic sector. Overall, the India Orthopedic Devices Market may face challenges in maintaining stability and growth amidst escalating geopolitical tensions.

 India Orthopedic Devices Market

Segmental Coverage

 India Orthopedic Devices Market – By Product

By product, the India Orthopedic Devices Market is divided into Orthopedic Fixation Devices, Orthopedic Replacement Devices, Orthopedic Prosthetics, Orthopedic Braces & Support Products, Spinal Implants & Surgical Devices, Arthroscopy Instruments, Ortho biologics, and Bone Graft Substitutes segments. The spinal implants and surgical devices segment holds the highest share in the India Orthopedic Devices Market by product. It can be attributed to the growing incidence of spinal disorders like disc degeneration and deformities, which increase the demand for related implants and devices. Moreover, advancements in surgical techniques and technology have widened the scope of treatment options for spinal conditions, further driving market growth. Notably, increased awareness about spinal health and improvements in healthcare infrastructure have contributed to the segment's dominance in the market. Also, the spinal implants and surgical devices segment includes spinal fusion devices and spinal non-fusion devices.

India Orthopedic Devices Market – By Application

Based on application, the India Orthopedic Devices Market is divided into Fracture Treatment & Recovery, Rheumatoid Arthritis & Osteoarthritis, Ligament Injuries, Neurological Disorders, Diabetic Foot Diseases, and Spinal Fusion, Fixation, and Decompression segments. The fracture treatment & recovery segment holds the highest share in the India Orthopedic Devices Market by application. Fractures are common orthopedic injuries, necessitating a wide range of devices for treatment, including plates, screws, and braces. The segment's prominence is driven by the high incidence of fractures, attributable to accidents, sports injuries, and age-related issues. Moreover, advancements in orthopedic technologies and surgical techniques have enhanced fracture treatment outcomes, further bolstering the demand for devices in this segment. Additionally, the segment's significance is underscored by the growing emphasis on rapid recovery and rehabilitation protocols for fracture patients.

India Orthopedic Devices Market – By End User

On the basis of end user, the India Orthopedic Devices Market is divided into Hospitals & Surgical Centers, Orthopedic Clinics, and Ambulatory & Trauma Care Centers segments. The hospitals & surgical centers segment holds the highest share in the India Orthopedic Devices Market by end user. Orthopedic devices are predominantly utilized within hospital settings, where they are typically implanted via surgical procedures. This preference is largely due to the high volume of patients with orthopedic injuries seeking treatment in hospitals, facilitated by favorable reimbursement policies. Meanwhile, the ambulatory & trauma care centers segment is expected to witness the fastest growth rate during the period in analysis, due to the rising popularity of minimally invasive techniques that offer patients alternatives to traditional hospital-based care.

India Orthopedic Devices Market – By Region

Geographically, the India Orthopedic Devices Market is divided into North India, South India, East India, and West India regions. The South India region holds the highest share in the India Orthopedic Devices Market and is expected to maintain its dominance during the forecast period. It is primarily due to its advanced healthcare infrastructure, featuring modern hospitals and clinics equipped with cutting-edge orthopedic devices. This region benefits from widespread health insurance coverage, encouraging individuals to seek orthopedic treatments and invest in the latest devices. Public awareness of medical technologies further drives South India's dominance, with a well-informed population actively seeking advanced treatment options. Additionally, the region's significant aging population fuels demand for orthopedic procedures, including joint replacements and implants. These factors collectively position South India as a key player in meeting the demand for high-quality orthopedic devices and ensuring comprehensive healthcare for its population.

Competitive Landscape

Major players operating in India Orthopedic Devices Market include Stryker Corporation, Smith & Nephew, Zimmer Biomet, Medtronic, DePuy Synthes, Globus Medical, Narang Medical, Atlas Surgical, Auxein Medical, Integra LifeSciences, NuVasive, Sharma Orthopedic (India) Pvt Ltd, CONMED Corporation, DJO Global, GPC Medical, TriMed Inc., Hcm Orthocare, Matrix Meditec Pvt Ltd, NRV OrthoTech Pvt Ltd, and Orthofix. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In October 2023 - Uttar Pradesh announced plans to bolster its orthopedic device industry, allocating 2,350 acres for manufacturing parks in Lalitpur, Pilibhit, and Gautam Buddha Nagar districts.

Scope of the Report

By Product

• Orthopedic Fixation Devices

• Orthopedic Replacement Devices

• Orthopedic Prosthetics

• Orthopedic Braces & Support Products

• Spinal Implants & Surgical Devices

• Arthroscopy Instruments

• Ortho Biologics

• Bone Graft Substitutes

By Application

• Fracture Treatment & Recovery

• Rheumatoid Arthritis & Osteoarthritis

• Ligament Injuries

• Neurological Disorders

• Diabetic Foot Diseases

• Spinal Fusion, Fixation, and Decompression

By End User

• Hospitals & Surgical Centers

• Orthopedic Clinics

• Ambulatory & Trauma Care Centers

By Region

• North India

• South India

• East India

• West India

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Orthopedic Devices Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising burden of musculoskeletal disorders
         2. Growing geriatric population
         3. Government support for healthcare infrastructure
      2. Restraints
         1. High cost of imported orthopedic devices
         2. Shortage of skilled orthopedic doctors
         3. Limited insurance coverage for procedures and devices
      3. Opportunities
         1. Focus on domestic manufacturing for affordability
         2. Advancements in surgical techniques and biomaterials
         3. Growth of medical tourism for orthopedic treatments
      4. Challenges
         1. Ensuring quality control and stricter regulations
         2. Fragmented market hindering standardization and distribution
         3. Presence of counterfeit products impacting safety and competition
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Orthopedic Devices Market: Marketing Strategies
5. India Orthopedic Devices Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
         1. Orthopedic Fixation Devices
            1. Internal Fixation Devices
            2. External Fixation Devices
         2. Orthopedic Replacement Devices
            1. Ankle Replacement Devices
            2. Hip Replacement Devices
            3. Knee Replacement Devices
            4. Shoulder Replacement Devices
            5. Elbow Replacement Devices
            6. Wrist Replacement Devices
         3. Orthopedic Prosthetics
            1. Solid Ankle Cushion Heel Prostheses
            2. Single-axial Prostheses
            3. Multi-axial Prostheses
            4. Dynamic Response Prostheses
            5. Microprocessor-controlled Prostheses
         4. Orthopedic Braces and Support Products
            1. Ankle Braces and Support Products
            2. Knee Braces and Support Products
            3. Foot Walkers and Orthoses
            4. Back, Hip, and Spine Braces and Support Products
            5. Shoulder Braces and Support Products
            6. Elbow Braces and Support Products
            7. Hand and Wrist Braces and Support Products
            8. Facial Braces and Support Products
         5. Spinal Implants and Surgical Devices
            1. Spinal Fusion Devices
            2. Spinal Non-fusion Devices
         6. Arthroscopy Instruments
         7. Ortho biologics
         8. Bone Graft Substitutes
      2. By Application
         1. Fracture Treatment and Recovery
         2. Rheumatoid Arthritis and Osteoarthritis
         3. Ligament Injuries
         4. Neurological Disorders
         5. Diabetic Foot Diseases
         6. Spinal Fusion, Fixation, and Decompression
      3. By End User
         1. Hospitals and Surgical Centers
         2. Orthopedic Clinics
         3. Ambulatory and Trauma Care Centers
         4. Others
      4. By Region
         1. North India
         2. South India
         3. East India
         4. West India
6. North India Orthopedic Devices Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
      2. By Application
      3. By End User
7. South India Orthopedic Devices Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
      2. By Application
      3. By End User
8. East India Orthopedic Devices Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
      2. By Application
      3. By End User
9. West India Orthopedic Devices Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
      2. By Application
      3. By End User
10. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Orthopedic Devices Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
11. Impact of Escalating Geopolitical Tensions on India Orthopedic Devices Market
12. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Stryker Corporation
    2. Smith & Nephew
    3. Zimmer Biomet
    4. Medtronic
    5. DePuy Synthes
    6. Globus Medical
    7. Narang Medical
    8. Atlas Surgical
    9. Auxein Medical
    10. Integra LifeSciences
    11. NuVasive
    12. Sharma Orthopedic (India) Pvt Ltd
    13. CONMED Corporation
    14. DJO Global
    15. GPC Medical
    16. TriMed Inc.
    17. Hcm Orthocare
    18. Matrix Meditec Pvt Ltd
    19. NRV OrthoTech Pvt Ltd
    20. Orthofix
    21. Other Prominent Players
13. Key Strategic Recommendations
14. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of non–listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in–depth secondary research for the final deliverable.

List of Figures

Figure 1       India Orthopedic Devices Segmentation

Figure 2       India Orthopedic Devices Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       India Orthopedic Devices Market Size, By Value (USD Million), 2019–2030

Figure 5       India Orthopedic Devices Market Share, By Products, By Value, 2019–2030

Figure 6       India Orthopedic Devices Market Share, By Application, By Value, 2019–2030

Figure 7       India Orthopedic Devices Market Share, By End User, By Value, 2019–2030

Figure 8       North India Orthopedic Devices Market Size, By Value (USD Million), 2019–2030

Figure 9       North India Orthopedic Devices Market Share, By Products, By Value, 2019–2030

Figure 10     North India Orthopedic Devices Market Share, By Application, By Value, 2019–2030

Figure 11     North India Orthopedic Devices Market Share, By End User, By Value, 2019–2030

Figure 12     South India Orthopedic Devices Market Size, By Value (USD Million), 2019–2030

Figure 13     South India Orthopedic Devices Market Share, By Products, By Value, 2019–2030

Figure 14     South India Orthopedic Devices Market Share, By Application, By Value, 2019–2030

Figure 15     South India Orthopedic Devices Market Share, By End User, By Value, 2019–2030

Figure 16     East India Orthopedic Devices Market Size, By Value (USD Million), 2019–2030

Figure 17     East India Orthopedic Devices Market Share, By Products, By Value, 2019–2030

Figure 18     East India Orthopedic Devices Market Share, By Application, By Value, 2019–2030

Figure 19     East India Orthopedic Devices Market Share, By End User, By Value, 2019–2030

Figure 20     West India Orthopedic Devices Market Size, By Value (USD Million), 2019–2030

Figure 21     West India Orthopedic Devices Market Share, By Products, By Value, 2019–2030

Figure 22     West India Orthopedic Devices Market Share, By Application, By Value, 2019–2030

Figure 23     West India Orthopedic Devices Market Share, By End User, By Value, 2019–2030

List of Tables

Table 1        India Orthopedic Devices Market Size, By Value (USD Million), 2019–2030

Table 2        India Orthopedic Devices Market Share, By Products, By Value, 2019–2030

Table 3        India Orthopedic Devices Market Share, By Application, By Value, 2019–2030

Table 4        India Orthopedic Devices Market Share, By End User, By Value, 2019–2030

Table 5        North India Orthopedic Devices Market Size, By Value (USD Million), 2019–2030

Table 6        North India Orthopedic Devices Market Share, By Products, By Value, 2019–2030

Table 7        North India Orthopedic Devices Market Share, By Application, By Value, 2019–2030

Table 8        North India Orthopedic Devices Market Share, By End User, By Value, 2019–2030

Table 9        South India Orthopedic Devices Market Size, By Value (USD Million), 2019–2030

Table 10      South India Orthopedic Devices Market Share, By Products, By Value, 2019–2030

Table 11      South India Orthopedic Devices Market Share, By Application, By Value, 2019–2030

Table 12      South India Orthopedic Devices Market Share, By End User, By Value, 2019–2030

Table 13      East India Orthopedic Devices Market Size, By Value (USD Million), 2019–2030

Table 14      East India Orthopedic Devices Market Share, By Products, By Value, 2019–2030

Table 15      East India Orthopedic Devices Market Share, By Application, By Value, 2019–2030

Table 16      East India Orthopedic Devices Market Share, By End User, By Value, 2019–2030

Table 17      West India Orthopedic Devices Market Size, By Value (USD Million), 2019–2030

Table 18      West India Orthopedic Devices Market Share, By Products, By Value, 2019–2030

Table 19      West India Orthopedic Devices Market Share, By Application, By Value, 2019–2030

Table 20      West India Orthopedic Devices Market Share, By End User, By Value, 2019–2030

Table 21      Stryker Corporation Company Overview

Table 22      Stryker Corporation Company Overview

Table 23      Smith & Nephew Company Overview

Table 24      Smith & Nephew Company Overview

Table 25      Zimmer Biomet Company Overview

Table 26      Zimmer Biomet Company Overview

Table 27      Medtronic Company Overview

Table 28      Medtronic Company Overview

Table 29      DePuy Synthes Company Overview

Table 30      DePuy Synthes Company Overview

Table 31      Globus Medical Company Overview

Table 32      Globus Medical Company Overview

Table 33      Narang Medical Company Overview

Table 34      Narang Medical Company Overview

Table 35      Atlas Surgical Company Overview

Table 36      Atlas Surgical Company Overview

Table 37      Auxein Medical Company Overview

Table 38      Auxein Medical Company Overview

Table 39      Integra LifeSciences Company Overview

Table 40      Integra LifeSciences Company Overview

Table 41      NuVasive Company Overview

Table 42      NuVasive Company Overview

Table 43      Sharma Orthopedic (India) Pvt Ltd Company Overview

Table 44      Sharma Orthopedic (India) Pvt Ltd Company Overview

Table 45      CONMED Corporation Company Overview

Table 46      CONMED Corporation Company Overview

Table 47      DJO Global Company Overview

Table 48      DJO Global Company Overview

Table 49      GPC Medical Company Overview

Table 50      GPC Medical Company Overview

Table 51      TriMed Inc. Company Overview

Table 52      TriMed Inc. Company Overview

Table 53      Hcm Orthocare Company Overview

Table 54      Hcm Orthocare Company Overview

Table 55      Matrix Meditec Pvt Ltd Company Overview

Table 56      Matrix Meditec Pvt Ltd Company Overview

Table 57      NRV OrthoTech Pvt Ltd Company Overview

Table 58      NRV OrthoTech Pvt Ltd Company Overview

Table 59      Orthofix Company Overview

Table 60      Orthofix Company Overview

Table 61      Other Prominent Players Company Overview

Table 62      Other Prominent Players Company Overview