The Global Extremities (Shoulder and Small Joint Implants) Market was valued at USD 2.27 Billion in 2023 and is expected to reach USD 3.82 Billion by 2032, at a CAGR of 6.8%.
The Extremities market is one of the most appealing and fastest-growing categories in the orthopaedic line of work today. A human skeleton has four types of extremities: two upper limbs, which forms the upper extremity and two lower limbs that forms the lower extremity. The joint reconstruction procedures involve modification of the body extremities. Hence, the main emphasis of orthopedic market is to produce devices for treatment of knee, joints, hip and spine.
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Key Recent developments in Extremities market are due to production of new devices. In October 2014, Arthrex Inc. entered into a partnership with Osiris Therapeutics for the development of the cartilage product called Cartiform.
Factors such as technological innovations and rise in Mergers & Acquisition (M&A) activity are the factors propelling the growth in this market. For instance, the introduction of robotics and 3D printing has facilitated surgeons to expand the effectiveness of procedures which boosts up the success rate of operations. As there is a rise in M&A deal in this market, leading manufacturers increase their market share to expand their business across regions. 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. For instance, in October 2015, Wright Medical Group, Inc. acquired Tornier N.V to form Wright Medical Group N.V which has helped the company to establish themselves high-growth extremities-biologics company and extend its leadership position and further accelerate its growth opportunities.
Key Coverage of the Report:
- Regional Competitors clinical pipeline analysis
- Demand and Supply GAP Analysis
- Market share analysis of the key industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 6 years of all the mentioned segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Global Extremities Market:
- In April 2019, Orthofix Medical Inc. announced its first commercial implants of patients with the M6-CTM artificial cervical disc to replace an intervertebral disc damaged by cervical disc degeneration which enables compression or shock absorption at the implanted level.
- In April 2019, Orthopedic Surgery Specialists of Burbank became the first ambulatory surgical centre to adopt the DJO OaraScoreTM Patient Safety Algorithm.
- In March 2019, Bioventus, a global leader in orthobiologic solutions launched OSTEOAMP SELECT Fibers to allograft line of OSTEOAMP bone graft substitutes for spine, foot, orthopedic surgeons.
- In October 2017, Arthrex Inc. planned to build a new surgical device and implant manufacturing facility In South Carolina to support their production of new innovative products which helps the surgeons to treat their patients better.
- Ambulatory Surgical Centres (ASC) end use segment is growing at a CAGR of 6.2%.
- Asia-Pacific regional segment of the Extremities (Shoulder and Small Joint Implants) market is expected to remain highest growing segment during 2019-2032, at a CAGR of 7.9%.
Companies considered and profiled in this market study:
The Global Extremities Market study postulates constructive intuition globally which includes the companies who are the key players in Global Extremities Market, such as Arthrex Inc., BioTech Limb and Brace, Bioventus, Ceramisys, Colson Associates, CONMED, DJO Global, EXACtech, Evolutis, Graftys, implantcast, Integra LifeSciences, Merete Technologies, Myomo, NovaBone, Orthofix, Össur, Osiris Therapeutics, Johnson & Johnson, Smith & Nephew, Stryker, Wright Medical N.V. and Zimmer Biomet.
- Lower Extremity Devices segment was valued at 400.8 million in 2023 and is expected to grow at the largest rate of 7.1%.
- Material has the fastest expansion.
- Middle East and Africa (MEA) is growing at a CAGR of 2.8% due to poor awareness of the market.
- The Hospitals end use segment accounted for the largest share of the market in 2017 i.e. 68.5%.
- Shoulder type product segment has a sizeable market share of 36.5% in 2023.
- North America has the largest market size of 714.0 million in 2023 and anticipated to remain same throughout the forecast period due to increasing number of patients because of large number of road accidents.
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 2023 to 2032.
Global Extremities (Shoulder and Small Joint Implants) Market Key Market Segments:
Product Type: (Revenue, USD Million; 2023–2032)
- Upper Extremity Devices
- Hand and Wrist
- Lower Extremity Devices
Material: (Revenue, USD Million; 2023–2032)
End Use: (Revenue, USD Million; 2023–2032)
- Ambulatory Surgical Centres (ASC’s)
- Pharmaceutical and Biotech Companies
- Orthopedic Clinics
Regional Outlook: (Revenue, USD Million; 2023–2032)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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