Digits Replacement Market: Introduction

  • Joint replacement is a surgery that replaces a damaged joint in the body with a new joint, which is made of plastic or metal. The new joint works the same as the natural joint.
  • Digit replacement is an artificial joint replacement of a finger, in which a surgeon removes one or more of the joints in the finger and replaces them with an artificial joint. The two finger joints that can be replaced are:
    • The PIP joint is the second joint from the end of the finger
    • The MP joint is the knuckle, the joint at the base of the finger
  • Digit replacement is used when the joints in the fingers and hands are injured, damaged, or in a lot of pain due to an illness like arthritis

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 Key Drivers of Global Digits Replacement Market

  • Increase in incidence of osteoporosis and osteoarthritis, particularly among the geriatric population, is projected to propel the global digit replacement market. These diseases are known to impact the anatomical joint structures of the human body.
  • According to the World Health Organization, the global geriatric population was around 524 million in 2010 and is anticipated to reach 1.5 billion by 2050. Moreover, the world is aging at a rapid pace, especially in the developed countries such as the U.S., Germany, and Japan. For instance, the U.S. Census Bureau stated in 2010 that people older than 65 years represented around 12.4% of the total population of the U.S. in 2000 and the percentage is anticipated to reach 19% by 2030.
  • Therefore, rise in incidence of chronic diseases and increase in the geriatric population across the world are expected to fuel the growth of the digit replacement market

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Metallic Biomaterials Segment to Dominate Global Market

  • In terms of biomaterial, the global digits replacement market can be divided into metallic biomaterials, polymeric biomaterials, ceramic biomaterials, and others
  • The metallic biomaterials segment held the largest market share in 2019 owing to cost-effectiveness

Hospitals & Clinics to be Highly Attractive Segment

  • In terms of end-user, the global digits replacement market can be classified into hospitals & clinics, ambulatory surgical centers, physician offices, and others
  • The hospitals & clinics segment is likely to account for major share of the global digits replacement market by 2030 owing to increase in hospitalization for digit replacement procedures

North America to Offer Attractive Opportunities in Digits Replacement Market

  • In terms of region, the global digits replacement market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America dominated the global market in 2019 due to rise in orthopedic procedures, increase in incidence of obesity, and introduction of technologically advanced products
  • The American Heart Association stated in 2014 that around 70.0% of the adults in the U.S. are obese and prone to orthopedic surgeries. Moreover, the World Health Organization (WHO) stated that more than 40 million children under the age of five were overweight or obese in 2012. According to Core Physicians, a non-profit community-based multi-specialty group of physicians, around 12 million people suffering from foot and ankle problems visit physician offices (2.8 million visits for ankle sprains and 1.2 million visits for ankle fractures) in the U.S. every year. Hence, rise in obesity and orthopedic surgeries boosts market growth in the U.S.

Key Players Operating in Global Digits Replacement Market

The global digits replacement market is semi-consolidated with the presence of international and local players. Key players operating in the global digits replacement market are:

  • Integra LifeSciences
  • Stryker
  • Wright Medical
  • Zimmer Biomet
  • Smith & Nephew plc
  • Medtronic plc
  • DePuy Synthes
  • DJO Global
  • CONMED Corporation
  • Arthrex, Inc.

Global Digits Replacement Market: Research Scope

Global Digits Replacement Market, by Biomaterials

  • Metallic Biomaterials
  • Polymeric Biomaterials
  • Ceramic Biomaterials
  • Others

Global Digits Replacement Market, by End-user

  • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Physician Offices
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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