Zimmer Biomet stock (US98956P1021): Leading medical device maker for orthopedics

Zimmer Biomet focuses on musculoskeletal healthcare, providing implants, instruments, and digital solutions for orthopedic procedures. The company holds a significant position in the US market, where hip and knee replacements drive substantial demand. Its products support surgeons in delivering precise outcomes for patients.

As of: 13.05.2026

By the editorial team – specialized in equity coverage.

Zimmer Biomet: core business model

Zimmer Biomet develops, manufactures, and markets orthopedic reconstructive products, sports medicine, biologics, extremities, trauma, spine, bone healing, craniomaxillofacial, dental, and knee replacement technologies. The company operates through two main segments: Products & Services and BioTechnology. This structure allows it to address diverse needs in musculoskeletal care. Headquartered in Warsaw, Indiana, Zimmer Biomet generates the majority of its revenue from the US, making it highly relevant for American investors tracking healthcare innovation.

Its portfolio includes leading brands like Persona Knee System and Oxford Partial Knee, which emphasize personalized solutions using advanced materials such as OXINIUM oxidized zirconium. The company invests heavily in R&D to integrate digital technologies, including robotic-assisted surgery platforms like ROSA, enhancing precision in procedures. This focus positions Zimmer Biomet at the forefront of medtech evolution.

Main revenue and product drivers for Zimmer Biomet

The knees category represents the largest revenue contributor, accounting for over 40% of sales in recent periods, driven by high-volume total and partial knee replacements. Hips follow closely, with innovative systems like G7 Acetabular System supporting complex surgeries. Slower-growing areas like sports medicine and extremities provide diversification. In its fiscal year 2023 results published February 8, 2024, net sales reached $7.4 billion, up 6.5% on a reported basis and 10.8% adjusted constant currency, per the company's IR page as of 02/08/2024.

Key growth drivers include an aging population boosting elective procedures and expanding international markets. The US remains core, with strong reimbursement dynamics supporting procedure volumes. Digital and robotics, contributing mid-single digits to revenue, are accelerating, with ROSA installations surpassing 500 units globally by mid-2024.

Industry trends and competitive position

The global orthopedics market, valued at around $50 billion in 2023 per sector reports, grows at 4-5% annually, propelled by demographics and technological adoption. Zimmer Biomet competes with Stryker, DePuy Synthes (J&J), and Smith & Nephew, holding approximately 20% US reconstructive market share. Its strengths lie in comprehensive portfolios and M&A activity, such as the 2023 Embody acquisition enhancing cartilage repair.

Trends like ambulatory surgery centers and value-based care favor Zimmer Biomet's efficient implant designs. Robotics penetration, still under 5% of procedures, offers upside as systems like ROSA gain traction against competitors' Mako and CORI.

Why Zimmer Biomet matters for US investors

As a NYSE-listed leader (ZBH), Zimmer Biomet benefits from robust US healthcare spending, which accounts for nearly 18% of GDP. Its exposure to Medicare-covered procedures aligns with demographic shifts, with 10,000 Americans turning 65 daily. The company's Indiana base and FDA-regulated products ensure regulatory familiarity for US stakeholders.

Dividend payments, yielding around 1% historically, and share repurchases underscore capital return discipline, appealing to income-focused investors amid market volatility.

Conclusion

Zimmer Biomet maintains a strong foothold in orthopedics through innovative products and digital integration. While facing competitive pressures and supply chain challenges, its US-centric revenue and procedural tailwinds provide stability. Investors monitor upcoming earnings for guidance on robotics growth and margin expansion.

Disclaimer: This article does not constitute investment advice. Stocks are volatile financial instruments.