Top 10 Global Orthopedic Device Firms

August 16, 2017 Business, Medical Devices, Medical Technology, Orthopedics, Rankings

This year’s Top 10 company report illuminated a number of trends within the orthopedic market. Companies are, ironically, finding the largest growth areas to be the smallest bones in the body and are pursuing ways to gain admission into the promising extremities market. For example, Wright Medical—which divested its large joint business in 2015—last year sold the large joint portfolio it had acquired from Tornier to become a dedicated extremities and biologics company. “Our large joints business has excellent products and significant market share in key European markets with a loyal customer base,” Wright president and CEO Robert Palmisano said after divesting the business. “However, this business is not in line with our strategy to be the premier extremities and biologics company.”

The larger OEMs were less enthusiastic about establishing themselves in extremities. Rather, they are seeking to further diversify their portfolios and expand their presence by acquiring peripheral technologies to their mainstay businesses. Stryker Corp., for example, added emergency medicine technology, RF generators, and disposable products to their offering. Zimmer Biomet, on the other hand, augmented its portfolio with diagnostics and 3D imaging systems. Others reinforced their core businesses through M&A as well. Smith & Nephew strengthened its sports medicine business by acquiring a biologic tissue repair product, and NuVasive continued its commitment to minimally invasive procedures by purchasing a magnetic spinal rod system that can be adjusted non-invasively. Finally, Globus Medical enhanced its global presence through the acquisition of Alphatec’s international spinal product distribution network.

By Sean Fenske, Michael Barbella, and Sam Brusco | Orthopedic Design & Technology

Illustration Credit: Orthopedic Design & Technology

We hope you enjoy reading this year’s Top 10 report.

About Peter Coffaro 464 Articles

A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.