Orthopedics is a $63 billion market, the most relationship-driven segment in medical device, and one of the best-compensated careers in sales.

Here is what is happening in it right now.

THE EDITOR’S NOTE

A few thoughts from the field before we get into it…

I spent the vast majority of my device career in orthopedics. I started out selling pins and screws for a company that no longer exists, moved into trauma, then reconstruction and total joints, and eventually landed in sports medicine. It was a natural progression, and looking back, orthopedics was the right segment for me for two reasons.

The first was that orthopedic surgery is a lot like carpentry, and carpentry was something I already understood. I knew what pins, screws, and nails did. Understanding how they worked inside a human body was not much of a leap. All I had to do was learn the anatomy and the pathology, and I was off and running.

The second reason was simpler: I could see the benefit to the patients. Someone broke a bone and the products I was selling helped fix it. The surgeon did the fixing, of course, but the point stands. That is a meaningful thing to be part of.

Orthopedic surgery changes people's lives in a tangible way. A total knee replacement gives someone their mobility back. An ACL repair gets an athlete back on the field. A spinal fusion takes away pain that has defined someone's daily existence for years. The rep who shows up to support those cases is not just delivering a product. They are part of the care team, and the surgeons they work with know it.

That relationship dynamic is what makes orthopedics one of the most coveted segments in medical device, and also one of the more challenging to break into. Surgeons are loyal to the reps they trust. Building a territory takes time, but there is also real opportunity to make an impact early if you put in the work. The rewards, professional and financial, are there for the people who do.

This week we go deep on orthopedics: the market, the sub-segments with the most momentum, what the latest earnings are telling us, and what a career in this space actually looks like from the ground up.

Glad you're here. Let's get into it.

Andy Knapik, Founder

The Modern Med Rep

INDUSTRY INTEL

What's moving in med device this week and why it matters

Five Things Shaping the Industry Right Now

  Stryker posted a strong Q2 but shares dropped 9%.

Revenue hit $6.59 billion, up 9.4% year over year, with EPS growth of 17.9%. Investors sold off on tariff uncertainty. But the more important data point for orthopedics readers is buried in the earnings call: hip and knee procedures now approach a 20% ASC site-of-care mix, and Stryker commercially launched the Encompass total ankle replacement system. The shift of orthopedic procedures out of hospitals and into surgery centers is no longer a future trend. It is happening now.

  Boston Scientific issued a Class II recall on 776,000 PFA steerable sheaths.

The valve on the sheath can be damaged during use, creating a risk of air embolism. No devices need to be returned to the manufacturer but clinicians were notified. This comes as pulsed field ablation is the fastest-growing segment in cardiovascular. Recalls are a routine part of life in device and how a rep handles them with clinical customers is one of the clearest signals of their credibility. More on this in The Med Insider this week.

  Smith & Nephew posted H1 2026 revenue of $3.1 billion, up 4.6%, but flagged a familiar concern.

The company reported that U.S. elective procedures are slowing as patients come off ACA subsidies and face higher out-of-pocket costs on commercial plans. As we covered in Issues #002 and #004, this dynamic is now being flagged across multiple orthopedic and surgical companies. It is becoming an industry-wide pattern that every device professional should understand.

  Foot and ankle is the fastest-growing sub-segment in orthopedics.

The category is expanding at 7% to 8% annually, driven by the Zimmer Biomet and Paragon 28 combination, the Stryker and Wright Medical integration, ASC compatibility, and strong margin profiles. Stryker's Encompass total ankle launch is the most visible move in this space right now. For anyone targeting orthopedics, foot and ankle deserves serious attention as a segment with real commercial momentum and less rep saturation than total joints.

  Orthobiologics is now the fastest-growing M&A category in orthopedics.

Its share of orthopedic M&A transactions more than doubled, rising from 9% in the 2016 to 2020 period to 20% in 2021 to 2025, and it is the only sub-segment with an increased absolute deal count. Meanwhile, J&J's DePuy Synthes spinoff is moving forward and private equity is re-entering orthopedics at scale. The structural transformation of this segment, covered in Issue #003, is continuing.

MARKET SPOTLIGHT

A deep dive into the segments, companies and technologies shaping the industry

Orthopedics: The Most Relationship-Driven Segment in Medical Device

Orthopedics is a $63 billion global market in 2026, projected to reach $92 billion by 2035. In the U.S. alone, the market sits at roughly $30 billion. It is one of the most established and most rep-dependent segments in medical device, with surgeon relationships that take years to build and are extraordinarily difficult to disrupt once in place. The five dominant players, DePuy Synthes, Stryker, Zimmer Biomet, Smith & Nephew, and Arthrex, collectively hold more than 55% of global market share. Medtronic is significant in spine. Globus Medical, following its merger with NuVasive, is a major force in spinal surgery.

The sub-segments with the most commercial momentum right now.  Orthopedics is not one market. It is a collection of distinct product categories, each with its own growth trajectory, competitive dynamics, and commercial model. Understanding which sub-segments are growing fastest is the starting point for targeting the right career opportunity.

Foot and ankle.  The fastest-growing category in orthopedics, expanding at 7% to 8% annually. Historically underserved relative to hip and knee, foot and ankle is now a strategic priority for Stryker (through Wright Medical), Zimmer Biomet (through Paragon 28), and several PE-backed platforms. The procedures are well-suited to ASCs, the margins are strong, and the rep saturation is lower than total joints. Stryker's commercial launch of the Encompass total ankle system is the most recent signal of how seriously the major players are investing here.

Orthobiologics.  The fastest-growing M&A category in the space. Orthobiologics covers bone grafts, synthetic bone substitutes, growth factors, and cell-based therapies used to support bone healing and tissue regeneration. The category benefits from an aging population, rising obesity rates, and the increasing complexity of spinal and joint reconstruction procedures. Commercial reps in this space sell into orthopedic, spine, and sports medicine customers and often work alongside traditional implant reps as complementary product lines.

Sports medicine and arthroscopy.  One of the most technically demanding and relationship-intensive areas in orthopedics. Arthroscopic procedures for the shoulder, knee, hip, and ankle require reps who can support complex cases, understand anatomy at a clinical level, and build credibility with sports medicine surgeons. Arthrex dominates this space and has built one of the most rep-loyal cultures in device. Smith & Nephew, Stryker, and Zimmer Biomet are all active competitors.

Spine.  Historically the highest-compensated sub-segment in orthopedics, with established reps earning $300,000 to $500,000 or more in total compensation. The spine market is maturing at the procedure level but experiencing significant disruption from robotics and navigation technology. Globus Medical's ExcelsiusGPS platform and Medtronic's Stealth AXiS are both gaining traction. The complexity of spine cases and the length of the surgeon relationship make this one of the harder segments to break into but one of the most financially rewarding for those who do.

The ASC shift and what it means.  The movement of orthopedic procedures out of hospitals and into ambulatory surgery centers is the most structurally significant commercial trend in this segment right now. As we covered in depth in Issue #001, ASCs now host more than 80% of all U.S. surgeries. Stryker's Q2 data showing hip and knee procedures approaching 20% ASC mix is meaningful. For reps, it means two things: understanding ASC economics and purchasing dynamics is no longer optional, and the companies building robotic and navigation platforms specifically for ASC environments are creating the most active new hiring in the segment.

The competitive moat in orthopedics:

More than almost any other segment in medical device, orthopedics runs on trust built in the operating room. A surgeon who trusts their rep will follow them to a new company, advocate for their products in committee meetings, and take their call on a Sunday night before a complex case. That trust is built case by case, year by year. It cannot be rushed and it cannot be replicated by a competitor with a lower price. It is why the reps who break through in orthopedics tend to stay in it for their entire careers.

CAREER OPPORTUNITIES

Where the jobs are, what’s paying, and how to position yourself to get there

What Career in Orthopedic Sales Actually Look Like

Industry Foundation: Orthopedics runs a commercial model that is different from most other device segments, and understanding it before you target a role gives you a real advantage.

Orthopedics has historically relied heavily on independent distributors: separately owned businesses that hold a contract to sell a manufacturer's products within a defined territory, hire their own reps, manage their own inventory, and earn a margin on everything they sell. That model still plays a major role today, particularly in smaller markets and with regional product lines. However, over the past decade, major manufacturers including Stryker, Zimmer Biomet, and DePuy Synthes have been converting distributor territories to direct sales forces in many markets. Both models exist, and in some geographies and product categories, one is more common than the other.

Understanding which model a company uses in your target geography changes how you find the opportunity, how you get in the door, and what the compensation structure looks like. A direct role typically offers more predictable base pay and benefits; a distributor role may offer faster access and more territory ownership early on.

If you want to understand how both tracks work and which one might be the right fit for you, the Med Device Career Decoder breaks it all down in plain language. Find it at www.themodernmedrep.com.

Orthopedic sales is consistently one of the highest-compensated fields in medical device. Here is what the data shows in 2026.

Compensation.  Median total compensation for orthopedic medical device sales representatives sits between $150,000 and $210,000 per year. Experienced reps with established surgeon relationships and strong territory performance can earn $250,000 to $383,000 at the 75th to 90th percentile. Spine reps at the top of the compensation curve earn $300,000 to $500,000 or more. Commission typically represents 40% to 60% of total earnings, which means territory performance directly drives income in a way that most other sales careers do not.

Entry points.  For someone without existing device experience, the most common paths into orthopedic sales are through a distributor rep role, a clinical associate or case coverage position at a manufacturer, or a product specialist role. Clinical associates spend significant time in the OR supporting cases, building the clinical knowledge and surgeon relationships that lead to full territory responsibility. The ramp is real, typically two to four years before top earnings kick in, but the ceiling is among the highest in the industry.

Where the active hiring is right now.  Foot and ankle is generating the most new territory builds as Stryker, Zimmer Biomet, and PE-backed platforms expand. Orthobiologics is seeing significant hiring as M&A activity in that sub-segment creates new commercial infrastructure. Robotics-trained orthopedic reps are in high demand across Stryker (Mako), Zimmer Biomet (ROSA), and Globus Medical (ExcelsiusGPS). The DePuy Synthes spinoff process will generate significant hiring over the next 12 to 24 months as the new standalone entity builds its own commercial team.

What hiring managers are looking for.  Clinical comfort, relationship-building ability, and consistency. Orthopedic hiring managers are not primarily looking for sales experience. They are looking for people who can earn a surgeon's trust, show up at 6 a.m. for a case, stay until the last instrument is cleaned, and do it again the next day without being asked. The best candidates for orthopedic roles come from adjacent clinical environments: surgical technologists, physical therapists, athletic trainers, and nurses who already know the OR and understand surgical workflow. B2B sales experience is valued but secondary to clinical credibility.

The one thing that separates orthopedic reps from everyone else:

They are present. Not just at the big cases or with the loyal surgeons. At every case, with every surgeon, at every facility. The reps who build the strongest territories in orthopedics are the ones who made themselves indispensable before they ever asked for business. Presence is the product.

THE MED INSIDER

One thing every med device professional should know this week

How to Handle A Recall: What Every Device Rep Needs To Know

The Boston Scientific PFA sheath recall is a good reminder that recalls are not rare events in medical device. They are a routine part of the industry. The FDA receives thousands of medical device recall reports each year across all classes. Class I recalls involve a reasonable probability of serious health consequences. Class II recalls, like the Boston Scientific sheath, involve a risk of temporary or medically reversible adverse consequences. Class III recalls are for violations unlikely to cause harm.

For a device rep, a recall involving one of your products is one of the highest-stakes situations you will face. How you handle it with your clinical customers will define your credibility more than almost anything else you do in the field.

What to do when a recall hits.  The first step is to know before your customers do, or as close to simultaneously as possible. Your company will typically communicate recall information through your sales management chain and via a formal field safety corrective action notice. Read it carefully. Understand the scope: which product, which lot numbers, what the issue is, and what the corrective action is. Your customers will ask all of these questions and you need to be able to answer them without hesitation.

How to communicate it.  Call your key accounts directly. Do not leave it to a letter or email. A surgeon or OR manager who hears about a recall affecting their facility from you personally, before they read about it elsewhere, will remember that you were the one who called. A surgeon who finds out on their own and then hears from you will remember that too. The difference matters. Be direct, factual, and calm. Explain what the issue is, what the risk level is, what products are affected, and what the next steps are. Do not speculate.

What not to do.  Do not minimize the issue to protect the relationship. If a recall involves a product your surgeon uses regularly, pretending it is not serious when it is will damage trust far more than the recall itself. Customers can handle problems. What they cannot handle is being misled by someone they rely on.

The longer view.  Recalls are part of this industry because the products are complex and the standards are high. A company that issues a recall promptly and communicates clearly is demonstrating that the system is working. The reps who handle recalls well become the people their customers call when they have any problem, not just a recall. That is the kind of relationship that generates long-term territory performance.

Worth knowing: The FDA maintains a public database of all medical device recalls at accessdata.fda.gov. Getting in the habit of checking it periodically for products in your segment gives you an early-warning system and demonstrates a level of regulatory awareness that most reps do not have. It is a small thing that signals a serious professional.

FROM THE FIELD

Your Questions, Answered

This week's question comes up constantly in the context of orthopedics specifically:

I keep hearing that orthopedic sales is impossible to break into unless you know someone. Is the network really that important, or is that just an excuse people make?"

The network matters more in orthopedics than in almost any other segment, and here is the honest reason why. Orthopedic distributors in particular hire almost exclusively through referral. A distributor principal who is bringing on a new rep is putting their own relationships and their own contract at risk. They are not going to take a chance on someone they found on a job board when they could hire someone vouched for by a surgeon they trust or a rep they have worked with for years.

That said, the network is not a closed door, and direct rep roles at manufacturers are increasingly available and often post publicly on company career pages. Major players like Stryker, Zimmer Biomet, and Smith & Nephew hire direct reps regularly, and those roles are accessible through standard applications if your background is strong. Casting a wide net between distributor opportunities and direct manufacturer positions gives you more options than most candidates realize.

On the network side, the door opens through specific actions. Get into an OR in any capacity. Surgical tech programs, OR nursing roles, and sterile processing positions all put you in the environment where orthopedic reps work. Attend orthopedic conferences. Reach out to reps directly on LinkedIn with a specific, informed message, not a generic "I want to break in" note. Ask to observe a case. Be useful before you ask for anything.

The people who say orthopedic sales is impossible to break into without connections are usually the ones waiting for the connection to come to them. The people who break in are the ones who go build it themselves, whether through a distributor referral, a direct application, or a relationship built one OR visit at a time.

Have a question? Reply to this email. The best ones make it into the next issue.

QUOTE OF THE WEEK

“The strength of the team is each individual member.

The strength of each member is the team.”

- Phil Jackson