The orthopedics market accounts for the majority of the massive medical device market.
Orthopedics relates to the branch of medicine dealing with the correction of deformities of bones or muscles. Common specialties within the orthopedics device space include Trauma and Extremities, Craniomaxillofacial, Spine, Joint Reconstruction and Replacement, and Sports Medicine.
Here is a more descriptive breakdown of how the orthopedics industry is segmented:
Leveraging the data made available by Orthopedic Design & Technology, we've charted out the top orthopedic sales companies by annual revenue:
Table of Revenue By Device Company
Table in USD ($), Billions
Our team decided to take this a step further and compare the compensation of the sales representatives with these top orthopedic medical devices.
The average orthopedic sales representative with about 2-5 years of sales experience at Zimmer Biomet, for example, could land a lucrative gig bringing in $139,718 per year. The actual compensation is highly dependent on the specialty within orthopedics (eg: Craniomaxillofacial, Spine), location, accounts, and orthopedic products sold.
Total Sales Representation Compensation
Table in USD ($)
We also plotted the potential compensation growth from an entry-level sales position to a full medical device sales rep position. In some cases, the compensation triples.
Average Associate Sales Representative to Sales Representative Total Compensation Increase
Table in USD ($)
The orthopedics market is vast and continuing to grow as medical device technology advances. Main players such as Stryker, DePuy Synthes, and Zimmer Biomet continue to grow organically and through acquisition to maintain their dominance in the market. Mid-sized players, such as Integra LifeSciences, have seen tremendous growth as they expand their product lines.
This leaves the market ripe for opportunity for medical device professionals looking to break into orthopedic sales.
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