Shoulder reconstruction segment dominated the upper extremity market owing to technological advancements in shoulder implants such as reverse shoulder implants and stem less shoulder implants, increasing number of patients opting for shoulder reconstruction surgery, and its positive clinical outcomes.? ?In the shoulder reconstruction segment, stemless shoulder implants are expected to grow at a fastest rate, owing to their associated benefits such as minimal pain, less blood loss, and faster recovery
Portland, OR -- (SBWIRE) -- 06/23/2017 -- Extremity Reconstruction Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $3,041 million by 2022, registering a CAGR of 7.5% during the period 2016-2022. Shoulder reconstruction segment, which accounted for more than 70% in 2015, is expected to dominate the global market throughout the forecast period. North America held the leading position in 2015, and is expected to maintain this trend throughout.
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The key drivers of the market include increase in incidence of joint disorders such as osteoarthritis & rheumatoid arthritis coupled with growth in geriatric population and global rise in the prevalence of diabetes & obesity. In addition, increase in awareness among patients about the benefits of small joint reconstruction implants and improvement of technology such as development of stemless shoulder implants, reverse shoulder implants, and ankle reconstruction implants that assist in regaining ankle mobility are expected to propel the market growth. However, unfavorable reimbursement scenario and complications associated with extremity reconstruction surgeries hamper the market growth.
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Upper extremity reconstruction implants (such as elbow, radius, hand & wrist, and shoulder) was the leading market segment in 2015, due to increase in the incidences of small joint disorders such as arthritis and fracture. Ankle replacement segment is expected to grow at a CAGR of 17.4%, owing to technological advancements in this segment. Technological innovations in ankle replacement implants have improved ankle motion in contrast to ankle fusion that restricts movement. Natural biomaterials segment is expected to grow rapidly due to their biocompatible and biodegradable properties.
Key Findings of the extremity reconstruction market Study:
-The shoulder replacement segment generated the highest revenue in 2015, and is projected to grow at a CAGR of 7.3%.
-Stemless shoulder implants segment is projected to grow rapidly registering a CAGR of 20%.
-Metallic biomaterial dominated the world extremity reconstruction devices market.
-Total ankle replacement segment is expected grow at a CAGR of 17.4%.
-In 2015, the U.S. led in the global extremity reconstruction market, accounting for more than 67% share in the overall market.
-Germany accounted for about one-third share of the European extremity reconstruction market in 2015.
-Indian extremity reconstruction devices market is expected to grow at a CAGR of 13.7%.
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North America accounted for a major share in 2015, and is expected to maintain this trend throughout the forecast period. This is attributed to rise in prevalence of joint disorders coupled with increase in geriatric population, high awareness regarding the benefits of extremity reconstruction devices, favorable reimbursement rates, presence of innovative technologies, and quest for better quality of life in this region. However, the Asia-Pacific region is expected to grow rapidly owing to the presence of ample growth opportunities in terms of unmet medical needs for the treatment of small joint disorders, increase in awareness about the benefits of extremity reconstruction surgeries, and rise in acceptance of advanced technologies.
Some of the key players profiled in the report include DePuy Synthes (a wholly owned subsidiary of Johnson & Johnson), Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew plc., Integra Lifesciences Holdings Corporation, Wright Medical Group N.V., Acumed, Inc., Arthrex, Inc., CONMED Corporation, and Skeletal Dynamics LLC.