10 spine, orthopedic device companies ranked by revenue

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. 

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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)

At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.

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