In 2020, the orthopedic medical device market was significantly impacted by the COVID-19 pandemic due to shutdowns and uncertainty surrounding elective procedures. This led to changes in medtech companies’ business models, marketing strategies, adoption of digital transformation, and merger and acquisition trends.
Although competitors in the orthopedic space have seen significant hits to their revenue in 2020, companies have seen robust recovery in the first half of 2021.
In this piece, we will explore the 2020 impact and recovery insights in more detail, addressing the following questions:
- How do revenue trends differ among major orthopedic competitors?
- Which orthopedic market segment was the most impacted and how has it recovered since?
- How have trends in mergers and acquisitions been impacted? Which orthopedic segments saw more transactions?