With product releases & investment rounds dominating the orthopaedics market, 2022 is set to be an exciting year. Who should you watch this year?
The world of orthopaedics and sports medicine is home to some medical industry giants, as well as smaller challenger players who are really making a name for themselves.
With new product releases and large investment rounds dominating the market news in 2021, this year is set to be an exciting year for the space.
So which companies should you keep your eye on this year?
Off the back of a high-profile merger with OsteoMed in 2020 that strengthened their extremities, trauma and craniomaxillofacial product portfolios, Acumed had a strong year last year, culminating in their new EU logistics centre to strengthen their position and accelerate growth in Europe.
With a goal of enhancing the experience of both patients and medical users of their products, their broad-ranging portfolio is popular with candidates wanting to work in the orthopaedics space.
One of the largest players in the space, DePuy Synthes is the orthopaedics branch of medical device giant Johnson and Johnson. Ending 2021 on a high with the acquisition of OrthoSpin (whose technology will be used in conjunction with their MAXFRAME system) they are committed to advancing innovation to drive patient care in post-surgery recovery periods.
They’re also investing heavily in future-proof technologies, including medical 3D printing and the expansion of their VELYS Digital Surgery platform that received FDA clearance in January last year.
By far the biggest news for Globus in 2021 was the FDA clearance of their ExcelsiusGPS orthopaedic robot, propelling them into a new market with an exciting new product that was used for the first time in cranial surgery last September. Combining robotic arm technology and a full suite of navigation capabilities to improve patient safety and efficiencies for OR staff, the ExcelsiusGPS is a world first.
From a candidate perspective, Globus is always a popular choice due to their excellent benefits package.
Another company celebrating FDA clearance in 2021 was NuVasive, for their Pulse Platform technology designed to transform spin surgery. It boasts multiple surgical applications in one package and provides integrated feedback in what one surgeon described as ‘unlike anything [they had] ever used in spine surgery’.
Not content with just one piece of innovative technology, they also announced in October they are set to release cutting-edge VR training modules for their X360 system, putting them at the very front of technological innovation.
One of the top 10 largest orthopaedic device companies in the world and boasting four decades of experience and products sold in over 60 countries, it’s hard to list top companies in the orthopaedic space without mentioning Orthofix. With a broad product portfolio encompassing reconstruction, extremities and spine, they’re a major player in the space with the aim of improving patient care and quality of life.
They’re also a popular choice with candidates due to their positive company culture and focus on corporate social responsibility.
One of the largest orthopaedic device companies in the world, Stryker continue to make waves in the market. With multiple product releases dominating 2021 and off the back of a high-profile acquisition of Wright Medical at the end of 2020 Stryker is set to continue to grow its market share this year.
They’re also at the forefront of new technologies, using additive manufacturing and 3D printing to grow their product portfolio in new ways. Is there any wonder candidates consistently mention Stryker as somewhere they’d love to work?
From receiving FDA clearance for their ROSA Hip and Partial Knee systems to gaining authorisation to market the world’s first smart knee implant, 2021 was a strong year for Zimmer Biomet.
They’re expected to have over 20% of the market share in orthopaedics by 2024, making them one of the strongest players in the space, as well as one of the most popular with candidates looking for their next career move.
With a market so full of innovation, it was hard to narrow it down to my top picks. So here are some honourable mentions to keep your eye on this year:
My predictions for the orthopaedic market
How can we talk about 2022 in the medical space without mentioning robotics? Surgical robotics systems have taken the market by storm in the last few years, and I predict that in the coming year more and more systems designed for orthopaedic surgeries will break into the market. From knee systems to hip systems, the market is rife with innovation, and I expect to see some new robotic technologies entering the field.
Another area of investment I’m expecting to see is in AR/VR. Both surgeons and medical device professionals are increasingly aware of the benefits of these technologies for training purposes, so I anticipate several orthopaedic companies investing in this to go alongside their platforms.
What do you think is in store for the orthopaedics space in 2022? And who do you think are the top players in the market? FMC Meditech would love to hear your thoughts!
If you’d like to discuss recruitment in the orthopaedics space, please get in touch on 01522 812 455 or email me on firstname.lastname@example.org.