The growing prevalence of degenerative disorders, such as osteoarthritis and osteoporosis, has been fuelling the demand for small bone and joint orthopedic devices significantly across the world. In 2014, the global opportunity in these devices was worth US$4.1 bn. Expanding at a CAGR of 8.10% during the period from 2015 to 2023, it is likely to reach US$8.2 bn by the end of 2023.

The rising demand for radial head repair devices and three-piece mobile ankle arthroplasty and the growing popularity of shoulder arthroplasty devices are likely to drive the market’s growth in the coming years.

North America to Remain Key Contributor to Small Bone and Joint Orthopedic Devices Market

Based on region, the worldwide market for small bone and joint orthopedic devices has been segmented into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Among these, North America occupied the leading position in 2014 with a share of 46.9%.

The increasing number of orthopedic procedures, the rise in the obese population, and continual introduction of technically advanced products has boosted the sale of these devices in this region over the recent past. Although the future of these devices looks good in this region, its market share, however, is likely to decline a little over the forecast period, reaching 46.5% by 2023. Despite the decline, North America will remain the key contributor to the overall market in the coming years, states TMR.

Asia Pacific, on the other hand, is projected to present the most lucrative opportunities for small bone and joint orthopedic devices in the near future on account of the improving economy of several Asian countries, which is anticipated to boost the healthcare infrastructure in the region. Apart from this, the increasing disposable income of people in this region has enabled them to afford expensive treatments, which is also expected to act as a key driving force behind the growing demand for these devices in Asia Pacific over the years.

The opportunity in small bone and joint orthopedic devices in North America is estimated to reach US$3.8 bn by 2023, whereas Asia Pacific is projected to register the fastest CAGR of 8.40% between 2015 and 2023.

Demand for Small Bone and Joint Orthopedic Devices to Remain High in Shoulder Reconstruction

Shoulder reconstruction reports the most prominent demand for small bone and joint orthopedic devices across the world. The increasing shift of preferences from partial and resurfacing shoulder implants to reversed shoulder implants among patients suffering from large rotator cuff tears has emerged as the primary factor that has fueled the application of these devices in shoulder reconstruction. Along with this, the rising usage of stemless shoulder implants for the treatment of young patients is also stimulating the demand for these devices in this segment. The opportunity for small bone and joint orthopedic devices in shoulder reconstruction is expected to expand to US$4.7 bn by 2023.

The leading manufacturers of small bone and joint orthopedic devices across the world are Flower Orthopedics, Z-Medical GmbH + Co. KG, Arthrex Inc., Tecomet Inc., Wright Medical Group N.V., F. Hoffmann-La Roche Ltd., Depuy Synthes, Smith & Nephew plc, Stryker Corp., Zimmer Biomet Holdings Inc., Acumed LLC, and DJO Global.

Small bone and joint orthopedic devices are used in case of damaged or worn out articular cartilage. The damaged articular cartilage interferes with the gliding movement of bones. Application of the devices helps increase the range of movement of joints. Besides, it enhance the appearance of joints and move back without pain. Nowadays, wrist, ankle, foot, and elbow are commonly replaced. Also, incidence of osteoarthritis is rising with growing geriatric population.

As per the report published by National Institute of Health, in the year 2016, 8.5% of global population is estimated to be of 65 years and above. Moreover, as per the estimation given by the Aging World in the year 2015, the percentage of geriatric population is anticipated to rise to 17% of the global population by 2050. With the growing geriatric population across the globe, incidence of orthopedic diseases is also estimated to grow, as old people are prone to joint problems.

Growing geriatric population and rise in the incidence of joint diseases will result in increasing demand for minimal surgical procedures. Rising cases of minimal surgical procedures are the key factor driving the small bone and joint orthopedic devices market in the coming years.

Investment in the healthcare sector is also likely to drive the small bone and joint orthopedic devices market. However, advancement in the field of tissue engineering and bone substitutes is likely to hinder the growth of small bone and joint orthopedic devices market. The branch of medical science has been gaining much popularity in recent years. Tissue engineering aims for improvement or replacement of biological tissues by combining suitable biochemicals, cells, physicochemical factors, and engineering materials. The method is widely used in the replacement of whole tissue such as bone, blood vessels, muscles, and cartilage. However, prevalence of orthopedic diseases and limited reach of tissue engineering is a challenge.

This report on the small bone and joint orthopedic devices market studies the current and future prospects of the market across the globe. Orthopedics is a branch of medicine science and surgery involving the use of orthopedic devices to correct various disorders and injuries of the bones and joints. The rising prevalence of joint degenerative diseases such as osteoporosis and osteoarthritis, increase in health care expenditure globally, and technological advancement leading to introduction of innovative devices for orthopedics application are some of the factors driving the small bone and joint orthopedic devices market. The market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments and sub-segments of the market. It also provides information and data analysis of the global small bone and joint orthopedic devices market with respect to market segments based on the device type and applications and their geographic analysis.

Based on the device type, the small bone and joint orthopedic devices market has been segmented into: fracture fixation and replacement systems, plates and screws. External fixation devices market, and joint prosthetics. On the basis of applications, the market is categorized into: Foot (including ankle, toe and lower extremities), hand (including thumb, wrist and elbow), and shoulder. Each of the market segments have been extensively analyzed based on adoption rate, awareness, advantages, efficacy, revenue, and geographical coverage. The market size and forecast in terms of USD million for each segment has been provided for the period from 2013 to 2023. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2015 to 2023, considering 2014 as the base year.

Geographically, small bone and joint orthopedic devices market has been segmented into five major regions: North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. The market size and forecast for each of these regions has been provided for the period from 2013 to 2023, along with their respective CAGRs for the forecast period from 2015 to 2023, considering 2014 as the base year. The report also provides with market size and forecast for major countries in the respective regions. The research study also covers the competitive scenario in the mentioned regions. A detailed qualitative analysis of factors responsible for driving and restraining the market growth and future opportunities has been provided in the market overview section. This section of the report also provides with market attractiveness analysis, Porter’s Five Forces analysis, and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global small bone and joint orthopedic devices market.

A list of recommendations has been provided for new entrants as well as existing market players to assist them in taking strategic initiatives to establish a strong presence in the market. The report also profiles major players in the market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players profiled in this report include Acumed LLC, Arthrex, Inc., DJO Global, Flower Orthopedics, DePuy Synthes, Smith & Nephew plc, Stryker Corporation, Tecomet, Inc., Wright Medical Group N.V., Zimmer Biomet Holdings, Inc., and Z-Medical GmbH + Co. KG.

The global small bone and joint orthopedic devices market is segmented as follows:

Global Small Bone and Joint Orthopedic Devices Market, by Device Type

  • Fracture Fixation and Replacement Systems
  • Plates and Screws
  • External Fixation Devices
  • Joint Prosthesis

Global Small Bone and Joint Orthopedic Devices Market, by Application

  • Foot (including ankle, toe and lower extremities)
  • Hand (including thumb, wrist and elbow)
  • Shoulder

Global Small Bone and Joint Orthopedic Devices Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • United Kingdom
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America (LATAM)
    • Middle East and Africa (MEA)

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