Product Code: RP-ID-10352040 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10352040
Market Overview:
Global Small Bone and Joint Devices Market Analysis & Outlook 2030
The global market for small bone and joint devices is estimated at USD 6 billion in 2021, with a compound annual growth rate (CAGR) of 8% from 2022 to 2030. One of the main drivers of the market is greater acceptance of restructuring measures. Degenerative diseases such as osteoporosis, osteoarthritis, and traffic accidents. Additionally, the market growth is expected to support more diabetic foot reconstruction activities and a growing geriatric population. According to the International Osteoporosis Foundation, osteoporosis affected 75 million people in the United States, Europe and Japan in 2017. Postmenopausal women are severely affected. One in three women suffers from osteoporotic fractures that often require surgery. According to the National Center for Biotechnology Information, diabetic foot problems remain one of the biggest health problems for people with diabetes in 2019, the fastest growing chronic diabetes problem in the world. More than 400 million people have been diagnosed. .
According to the National Safety Council, road accidents and sports injuries increase the risk of surgery, resulting in 2,841 deaths and approximately 4.6 million injuries in the United States each year. Car accidents often result in shoulder, foot, or ankle surgery. Also, according to the National Library of Medicine, the incidence of diabetes may increase in the future, which in turn will drive the orthosis and small co-market.
Information Type:
Shoulder reconstruction industry accounted for the largest share in 2020 with 33%. Shoulder reconstruction surgery is one of the safest treatment options for degenerative shoulder joint disease. According to the U.S. Centers for Disease Control and Prevention (CDC), by 2040, approximately 78.4 million adults will be diagnosed with arthritis, often leading to shoulder surgery. Therefore, the increase in the target group emphasizes the need for shoulder replacement. Also, companies like Depuy Synthes aim to treat patients with rotator cuff disease that support the industry, and should be active in this field for advanced shoulder remodeling like the GLOBAL UNITE inverted shoulder.
The increase in diabetic foot ulcers (DFU) and sports injuries that often required aggravated foot surgery increased by 9.2% during the forecast period. According to a study of high-performance athletes, the incidence and epidemiology of sports injuries is the most common cause of foot and ankle injuries, with over 21% in 2017. These injuries include foot and ankle sprains. Syndromes, metatarsal injuries, ankle sprains, ankle sprains and early metatarsal phalanges injuries often require surgery, thus supporting the market growth.
Practical Facts:
Hand held the largest share of the industry in 2020 with over 50%. This section is also divided into thumb, wrist, elbow, shoulder and other elements. The aging of the population and an increase in diseases such as musculoskeletal disorders are the main reasons for this sector. In addition, mergers and acquisitions by large corporations are supporting the growth of the industry. For example, Acumed, LLC acquired Bluefish Orthopedics, LLC in April 2019 to commercialize a new technology for elbow arthroplasty (TEA). The foot and ankle industry is projected to witness the fastest growth rate of 8% per year from 2022 to 2030. Increasing sports injuries, trauma and follow-up surgeries are driving the growth of this industry. Also, large-scale mergers and acquisitions by large corporations can spur industry growth. In June 2019, Smith and his grandson acquired BrainLabs orthopedic joint reconstruction business to provide a robotic ecosystem for foot and ankle surgery.
Regional Outlook:
North America will account for the largest market share of over 40% in 2020 and will remain dominant throughout the forecast year. This growth is due to the high incidence of sports injuries and the medical infrastructure that allows for minimally invasive surgical procedures. Also, as the number of people with arthritis increases, the demand for upper and lower extremity surgeries may increase. Asia Pacific is considered the fastest growing regional market from 2022 to 2030 due to growing demand for advanced investment options and economic growth as a target market.
Key Company Information and Market Share:
Key players focus on developing innovative products and business strategies such as regional developments, mergers, acquisitions and distribution agreements to increase their market share. For example, in November 2019, Stryker acquired Wright Medical for $4 billion. This purchase is considered very suitable for attacker trading. This also includes free materials for the lower and upper extremities from the Stryker Orthopedic line. Companies are also introducing new technologies to improve product performance and expand product portfolios. For example, in March 2018, Stryker launched the Stryker F1. This is a small bone strengthening system that provides a balanced, wireless lightweight limb solution. Who are the most prominent players in the Small Orthopedic and General Equipment market? DePuySynthesCompaniesSmith & Nephew PLCZimmer BiometStriker Corporation Wright Medical Group N.V.
Industries covered in this report:
The report forecasts global, regional and national revenue growth from 2022-2030 and provides an analysis of the latest industry trends for each subsector. For this study, Kenneth Research is doing it in detail on a small scale. The Equipment Market report, segmented by type, program and regional segments is: Forecast Type (Sales, USD Million, 2022-2030) Ridge Reconstruction Equipment, Elbow, Foot Restoration Equipment, Ankle and Screw, Other Program Forecast (Revenue, Million Dollar, 2022-2030) Ankle, Thumb, Elbow Other Shoulder.
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