• According to Transparency Market Research’s latest report on the global small bone and joint orthopedic devices market for the historical period 2017–2018 and forecast period 2019–2027, Rise in disabling diseases such as osteoarthritis and osteoporosis and focus on technological innovations are projected to drive the global small bone and joint orthopedic devices market during the forecast period
  • According to the report, the global small bone and joint orthopedic devices market was valued at US$ 5.5 Bn in 2018 and is anticipated to expand at a CAGR of 6.3% from 2019 to 2027

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Rise in Disabling Diseases Such As Osteoarthritis And Osteoporosis: Key Drivers

  • Increase in incidence of osteoporosis and osteoarthritis, particularly among the geriatric population, is expected to propel the small bone and joint orthopedic devices 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 nations 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 expected to reach 19% by 2030.
  • Increase in the geriatric population directly affects the growth and demand for small bone and joint orthopedic devices primarily due to their higher susceptibility to degenerative joint diseases. According to the Centers for Disease Control and Prevention in 2015, the number of adults with arthritis is expected to increase to 67 million in the U.S. by 2030.
  • Therefore, rise in incidence of chronic diseases and increase in the geriatric population across the world are likely to fuel the growth of the small bone and joint orthopedic devices market

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Focus on technological innovations Boost Market Growth

  • Technological advances in fixation implants and prosthesis material have added to the product portfolio of various market players. Bioabsorbable internal fixation implants such as wires, plates, and screws do not need repeat surgeries for removal as these are absorbed in the body over time.
  • Lightweight and durable non-absorbable material polyether ether ketone (PEEK) has been revolutionary with its wide scope of application and advantages over metal implants. Carbon fiber is another material used in implants as well as prosthetics. Carbon fiber has special application in prosthesis manufacturing due to its high tensile strength and light weight. “J” shaped carbon fiber prosthetic limbs have been the center of attraction after their appearance in Paralympics.
  • These innovations are aimed at improving the overall efficiency of the implants and prosthesis. Doctors in Australia have developed an innovative product that combines 3D printing technology and regenerative therapy. The treatment could be beneficial for cartilage damage and fracture caused during sports.
  • Therefore, technological advancements could open newer avenues for the growth of the small bone and joint orthopedic devices market.

High rate of Complications and Failure to Hamper Market

  • Frequent product recalls have restricted market growth as regulatory processes have become more stringent and made new product launch difficult. Moreover, the recalls and related lawsuits have attracted criticisms against orthopedic companies leading to loss of credibility in the minds of customers. Lawsuits following serious injuries to patients have also added to costs for manufacturers.
  • Issues regarding implant metal corrosion, implant migration and loosening, and predisposition to osteolysis still remain unresolved. These events have a collective effect on the acceptance of the implants as “safe” in the minds of patients.           
  • For instance, Trabecular metal shoulder instrumentation, distal pilot by Zimmer underwent FDA class 2 recall in December 2010 due to reasons such as incomplete seating of implant and delay in surgery. In December 2013, the FDA determined class 2 recall for Zimmer’s Trabecular Metal Total Ankle Tibial Base and Talar Components.
  • These factors would hamper the growth of the small bone and joint orthopedic devices market during the forecast period.

Global Small bone and joint orthopedic devices Market: Competitive Landscape

  • This report profiles major players in the global small bone and joint orthopedic devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
  • The global small bone and joint orthopedic devices market is largely consolidated, with the presence of a few international as well as regional players
  • Leading players operating in the global small bone and joint orthopedic devices market are
    • Acumed LLC
    • Arthrex, Inc.
    • Depuy Synthes
    • DJO Global
    • Smith & Nephew plc
    • Stryker Corporation
    • Tecomet, Inc.
    • Wright Medical Group N.V.
    • Z-Medical GmbH + Co. KG
    • Zimmer Biomet Holdings, Inc.
    • among others.

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Global Small bone and joint orthopedic devices Market: Key Developments

Key players in the global small bone and joint orthopedic devices market are engaged in technologically advanced products, launch of new products, pricing competition, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global small bone and joint orthopedic devices market. A few expansion strategies adopted by players operating in the global small bone and joint orthopedic devices market are:

  • In May 2014, DePuy Synthes Joint Reconstruction introduced three new products for hip, knee, and shoulder replacement to widen the portfolio and products include GLOBAL UNITE Anatomic Shoulder, CORAIL Revision Hip System and TRUMATCH Resection Guide For the ATTUNE Rotating Platform Knee
  • In June 2015, DJO Global signed a definitive agreement with Zimmer Holdings, Inc. to acquire products such as Biomet Cobalt Bone Cement, Optivac Cement Mixing Accessories and Discovery Elbow System for the U.S.

The report on the global small bone and joint orthopedic devices market discussed individual strategies, followed by company profiles of manufacturers of small bone and joint orthopedic devices. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global small bone and joint orthopedic devices market.

Global Small Bone and Joint Orthopedic Devices Market - Scope of Report

TMR’s report on the global small bone and joint orthopedic devices market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global small bone and joint orthopedic devices market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global small bone and joint orthopedic devices market during the forecast period.

The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global small bone and joint orthopedic devices market.

Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global small bone and joint orthopedic devices market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global small bone and joint orthopedic devices market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global small bone and joint orthopedic devices market.

The report delves into the competitive landscape of the global small bone and joint orthopedic devices market. Key players operating in the global small bone and joint orthopedic devices market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global small bone and joint orthopedic devices market that have been profiled in this report.

Key Questions Answered in Global Small Bone and Joint Orthopedic Devices Market Report

  • What is the scope of growth of product companies in the global Small Bone and Joint Orthopedic Devices market?
  • What will be the Y-o-Y growth of the global Small Bone and Joint Orthopedic Devices market between 2019 and 2027?
  • What is the influence of changing trends in technologies on the global Small Bone and Joint Orthopedic Devices market?
  • Will North America continue to be the most profitable market for Small Bone and Joint Orthopedic Devices providers?
  • Which factors are anticipated to hamper the growth of the global Small Bone and Joint Orthopedic Devices market during the forecast period?
  • Which are the leading companies in the global Small Bone and Joint Orthopedic Devices market?

Research Methodology

A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global Small Bone and Joint Orthopedic Devices market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary methods referred to by analysts during the production of the global Small Bone and Joint Orthopedic Devices market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the Small Bone and Joint Orthopedic Devices market as primary methods.

These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the Small Bone and Joint Orthopedic Devices market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global Small Bone and Joint Orthopedic Devices market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global Small Bone and Joint Orthopedic Devices market more reliably and accurately.

Regional Segmentation of Small Bone and Joint Orthopedic Devices Market

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Global Small Bone and Joint Orthopedic Devices Market - Segmentation

Product Type

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

Application

  • Foot
  • Hand
  • Shoulder

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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