Published: Jun, 2019

Overview

  • The global shoulder replacement market was valued at US$ 2,117.8 Mn in 2018. It is projected to expand at a CAGR of over 7% during the forecast period of 2019 to 2027.
  • The global shoulder replacement market is anticipated to be driven by a rise in the geriatric population suffering from degenerative joint disorders, rapid utilization of reverse shoulder replacement among orthopedic surgeons in developed regions, and increase in the focus on new product launches by industry players.
  • North America grabbed a major share of the global shoulder replacement market in 2018, due to its high geriatric population, increase in prevalence of shoulder osteoarthritis, surge in number of shoulder arthroplasties, and rapid adoption of technologically-advanced shoulder prosthesis in the U.S.
  • The shoulder replacement market in Asia Pacific is projected to expand at a high CAGR of around 8.0%, due to a surge in the elderly patient pool suffering from joint disorders, thereby driving the number of surgical procedures in emerging countries such as India and China.
shoulder replacement market segmentation
 
Rising Geriatric Patient Pool and Increase in Prevalence of Degenerative Joint Disorders Driving the Shoulder Replacement Market
  • Rise in the prevalence of joint disorders such as shoulder osteoarthritis, proximal humerus fractures, and rotator tear cuff arthropathy is expected to augment the shoulder replacement market during the forecast period.
  • Glenohumeral arthritis or shoulder arthritis is a highly common condition affecting the elderly population, i.e., people of ages 65 and above. According to The National Center for Biotechnology Information (NCBI), the prevalence of shoulder osteoarthritis was estimated to be 14% in the U.K., in 2016.
  • Moreover, an expanding baby boomer population, aged 65 years and above, leads to an increase in the proximal humerus fracture rate, which is likely to increase the demand for shoulder replacement in the near future.
  • Thus, an increase in the number of target degenerative joint disorders is expected to drive the global shoulder replacement market in the next few years.

Reverse Shoulder Replacement Segment Prominent in the Market

  • In terms of procedure, the market can be classified into total shoulder replacement, reverse shoulder replacement, partial shoulder replacement, shoulder resurfacing, and revision shoulder replacement.
  • The reverse shoulder replacement segment dominated the global shoulder replacement market in 2018. It is projected to remain prominent in the global shoulder replacement market during the forecast period. This is attributed to the advantages offered over conventional total shoulder arthroplasty, such as an increase in efficiency, increased success rate, better range of motion, higher shoulder strength, and minimal pain.
  • Increase in the demand for reverse shoulder arthroplasty, owing to its ability to treat patients with torn rotator tear cuffs, is projected to boost the global shoulder replacement market in the near future.
  • Moreover, increase in the applications of reverse shoulder arthroplasty in musculoskeletal oncology is estimated propel the volume of surgical procedures in the future. This, in turn, is expected to boost the reverse arthroplasty segment in the global shoulder replacement market in the next few years.

Hospitals to be a Promising Segment

  • Shoulder replacement surgeries are majorly performed in ambulatory surgical centers, hospitals, and orthopedic clinics. The hospitals segment is estimated to expand at a high CAGR in the global shoulder replacement market during the forecast period, owing to a rapid rise in the number of shoulder arthroplasties and an increase in the geriatric population across the globe.
  • Expansion of the segment is attributed to an increase in the availability of specialty care services in hospitals and the presence of qualified healthcare professionals, such as orthopedic surgeons in hospitals.
  • The ambulatory surgical centers segment is anticipated to expand at a rapid pace in the global shoulder replacement market, owing to an increase in the number of upper extremity procedures performed in these settings.

North America to be a Prominent Market, while Asia Pacific to Offer Considerable Incremental Opportunity

  • In terms of region, the global shoulder replacement market has been segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is anticipated to account for a leading share of the global shoulder replacement market during the forecast period, owing to an increase in geriatric patient pool with joint disorders.
  • Advancing age is a major factor responsible for the increase in the number of shoulder arthroplasties performed in the U.S. For instance, according to the American Association of Orthopedic Surgeons (AAOS), more than 750,000 shoulder arthroplasty, rotator cuff repair, and total elbow arthroplasty surgeries are performed each year in the country.
  • Moreover, favorable the reimbursement scenario for shoulder replacement in the country is estimated to drive the shoulder replacement market in North America.
  • The shoulder replacement market in Asia Pacific is likely to expand at a rapid pace in the next few years. Increase in the number of baby boomers with joint disorders and fractures, and a rise in sport injuries in India and China is expected to provide lucrative growth opportunities to the shoulder replacement market in the near future.
  • Furthermore, rise in the volume of shoulder arthroplasties performed in Australia is another major factor propelling the shoulder replacement market in Asia Pacific. For instance, according to the Australian Orthopedic Association National Joint Replacement Registry (AOANJRR), approximately 6,536 shoulder replacement surgeries were performed in Australia in 2017, witnessing an increase of 10.0% as compared to 2016.

Growth Strategies by Key Shoulder Replacement Market Players

  • Key players operating in the global shoulder replacement market are DePuy Synthes (Johnson & Johnson), Wright Medical Group N.V. (Tornier N.V.), Zimmer Biomet, Arthrex, Inc., Exatech Inc., DJO Global, Stryker, Smith & Nephew, and Integra LifeSciences Corporation.
  • Companies operating in the global shoulder replacement market engage in strategic mergers, acquisitions, and partnerships, as well as new product launches, in order to expand their product offerings and consolidate their position in the shoulder replacement market. For instance, in May 2018, DePuy Synthes announced the launch of GLOBAL UNITE Reverse Fracture Shoulder in the U.S.
  • It is a novel implant for shoulder reconstruction in patients with torn rotator cuffs and complex fractures. This product launch would enable the company to expand its product portfolio and strengthen its position in the shoulder replacement market. 

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