Global Total Shoulder Replacement Market: Overview
Total shoulder replacement refers to the process of replacement of damaged or diseased ball and socket joint of shoulder with a prosthesis. Metal components and polyethylene are utilized in the making of this prosthesis. The indications for total shoulder replacement comprise and post-traumatic degenerative joint disease, inflammatory arthritis, osteonecrosis, and osteoarthritis.
The global total shoulder replacement market has been divided based on four parameters of type, end user, and region for better understanding of the market.
Expanding operations in future? To get the perfect launch ask for a custom report Global Total Shoulder Replacement Market: Notable Developments
Over the last few years, the global total shoulder replacement market has witnessed quite a few changes that has influenced course of the market. One such development is mentioned below:
- In November 2019, Leading medical technologies firm, Stryker Corporation announced about its acquisition of Wright Medical Group N.V. With this acquisition, it is expected that the latter will bring a forth its diverse product portfolio and large base of customers to Stryker Corporation, thereby expanding the reach of the company in the market.
Some well-known organizations in the global total shoulder replacement market are as follows:
- BioTek Instruments, Inc.
- Wright Medical Group N.V.
- Zimmer Biomet
- Implantcast GmbH
- DePuy Synthes Companies
- DJO Global, Inc.
- Stryker Corporation
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Global Total Shoulder Replacement Market: Key Trends
The following drivers, opportunities, and restraints characterize global total shoulder replacement market over the forecast period, from 2019 to 2027.
Increased Prevalence of Arthritis and Sports Injuries Triggers Market Growth
The global total shoulder replacement market has grown over the years due to numerous advantages that these procedures come with. Many benefits of these procedures include restoration function, strength, and motion and alleviation of pain. The global total shoulder replacement market is likely to be influenced by the increased adoption of this procedure as it helps patients recover quickly.
Rise in the prevalence of arthritis-related disorders like rheumatoid arthritis and osteoarthritis is likely to offer substantial growth opportunities for the global total shoulder replacement market. In addition, increasing incidences of sports-related injuries and adoption of reverse shoulder replacement procedures are expected to trigger growth of the market over the assessment tenure.
As people age, bones start degenerating and often ends up in conditions like osteoarthritis of hips, knees, and shoulders. However, knees and shoulders are affected in most of the cases. Increasing prevalence of osteoarthritis is likely to support growth of the market over the forecast tenure. In addition, sedentary lifestyle, constant computer-related work, and lack of exercise fails to give full mobility to shoulders. This factor stimulates growth of the global total shoulder replacement market.
On the other hand, postoperative complications related to shoulder replacement procedures are likely to hinder market growth. Furthermore, high costs of topnotch shoulder replacement equipment could impede growth of the market.
Global Total Shoulder Replacement Market: Geographical Analysis
In a bid to offer a detailed view of the global total shoulder replacement market, TMR analysts have split the market into five main regions. These regions are Latin America, Europe, Asia Pacific, the Middle East and Africa, and North America.
Considering regional segments, Asia Pacific is likely to account for a major chunk of the global total shoulder replacement market over the forecast tenure, from 2019 to 2027. The spiraling growth of the market in the regions is ascribed to the increased prevalence of joint disorders. North America is also projected to reign over the market due to increased adoption of the procedures and favorable medical reimbursements in the region.
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
- 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.