NEW YORK, May 20, 2019 (GLOBE NEWSWIRE) -- High target disease prevalence, product launches, increasing strategic developments such as partnerships and agreements, favourable research funding scenario, and development of advanced genomic analysis techniques for quality control during implant manufacturing are key factors contributing to high CAGR of Extremities (Shoulder and Small Joint Implants) during forecast period.
Market Size – USD 1954.1 Million in 2018, Market Growth - CAGR of 6.8%. Market Trends – Product launches and research for cancer stem cell therapeutics.
According to the current analysis of Reports and Data, the Global Extremities (Shoulder and Small Joint Implants) Market was valued at USD 1954.1 Million in 2018 and is expected to reach USD 3310.9 Million by year 2026, at a CAGR of 6.8%.
The Extremities market is a compact portion of the orthopedic industry which is driven by the rise in procedures for orthopedic, surgeons due to an increase in ageing population and high global awareness for better treatment for such a high cost.
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Patients recover quickly due to advancements in technology and due to the introduction of robotics and 3D printing. Development of new shoulder and ankles and less invasive devices have driven the growth in this market. The restraint such as high manufacturing cost of these operations are pressurising hospitals a lot to opt for the procedures at a very low cost is draining the growth of this market.
Further key findings from the report suggest
- Elbow type segment is the growing at a CAGR of 6.3% during the forecasted years of 2019-2026 and accounted a market share of 19.2%
- Extremities Market is fastest growing at a CAGR of 9% in Asia Pacific followed by North America respectively owing to increasing cases of obesity and bone disorders related to it
- Upper Extremity Devices has the dominated the market with a share of 67.9% in 2018 due to high occurrence of orthopedic disorders in shoulders
- Orthopedic clinics are projected to be the fastest expanding end-users in this market at a CAGR of 7.2%
- Revenues from ambulatory surgical centres will increase at a CAGR lower than those from orthopedic clinics and hospitals i.e. 6.2% through 2026
- Key players of the market are Johnson & Johnson, Smith & Nephew, Stryker, Wright Medical and Zimmer Biomet
- Europe accounts for the second largest market share of the global orthopedic power tools market at 28.6% due to huge approval of fund through European Union
- Developing countries such as Brazil, South Africa, and Mexico are projected to create good opportunity for market growth of extremities devices due to higher accident cases, favourable demographics, and improvement in access to health care.
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Segments covered in the report:
For the purpose of the study, this report segments the Global Extremities (Shoulder and Small Joint Implants) Market on the basis of product type, material, application, end user and the regional outlook at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2019 to 2026.
Global Extremities (Shoulder and Small Joint Implants) Market Key Market Segments:
Product Type: (Revenue, USD Million; 2016–2026)
- Upper Extremity Devices
- Shoulder
- Elbow
- Hand and Wrist
- Others
- Lower Extremity Devices
- Foot
- Ankle
- Others
Material: (Revenue, USD Million; 2016–2026)
- Ceramics
- Metallic
- Polymeric
End Use: (Revenue, USD Million; 2016–2026)
- Hospitals
- Ambulatory Surgical Centres (ASC’s)
- Pharmaceutical and Biotech Companies
- Orthopedic Clinics
- Others
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Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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