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Over the past few years, the improvisations and advances in healthcare facilities have resulted into increased life expectancy of people around the world. This has further resulted into a rise in geriatric population worldwide. With the rise in aging population, joint disorders, such as osteoarthritis, have surged in prevalence, leading towards a number of extremity surgeries. The number of incidents associated with trauma, and sports injuries have further augmented demand for extremities reconstruction devices. In addition, advancements in healthcare infrastructure are also expected to influence the growth of this market during the forecast period.
A large number of technological innovations have been observed in the field of surgeries & implants related to extremities reconstruction. Few examples of these innovations include introduction of new and safe implant materials, reverse shoulder implants, mobile bearing ankles, and stemless shoulder implant. In addition, advances in ankle joint replacement have been offering surgeons with more options for treating ankle arthritis. Global leaders in production of extremity devices have launched new products, providing novel solutions for implant failures. An example of this is the launch of “Comprehensive Segmental Revision System” by Zimmer Biomet.
Niche players in the market are concentrating on developing minimally invasive endoscopic methods for surgeries related to extremities reconstruction, in a bid to lower the recovery time and pain endured by patients. For example, a startup named Instratek had launched the “HammerFIT Extremity Reamer System” to aid hammertoe surgeries. The above-mentioned factors are expected to drive expansion of the global extremities reconstruction market. However, factors such as complications associated with extremities reconstruction surgeries, and lack of favorable reimbursement policies are expected to restrain growth of the market in the near future.
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5 Key Estimations on Future of Global Extremities Reconstruction Market
In terms of revenues, Europe is expected to dominate the global extremities reconstruction market in 2017. However, by the end of forecast period, the market in North America will outgrow the market in Europe. The market in North America is projected to expand at 6.4% CAGR through 2022.
Accounting for nearly two-third revenue share of the market, shoulder reconstruction is expected to remain the most lucrative extremity reconstruction in the market, followed by elbow reconstruction.
Hospitals are estimated to remain the largest end-users in the global extremities reconstruction market, with sales poised to reach nearly US$ 1,300 Mn by 2022-end. ASCs will account for the lowest revenue share of the market during the forecast period.
Although metallic biomaterial will remain sought-after among surgeons and patients in the market, sales of ceramic biomaterials are expected to register a relatively higher CAGR through 2022.
Key market players profiled in Fact.MR’s report include Stryker Corporation, Wright Medical Group N.V., Orthofix International N.V., Zimmer Biomet Holdings, Inc., Smith & Nephew Plc, Medtronic Plc, Integra LifeSciences Holdings Corporation, Depuy Synthes, Inc., CONMED Corporation, Arthrex, Inc., and Acumed, LLC.
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