How Has The Computer Vision in Shoulder Replacement Devices Market Size Evolved In Recent Years?
The shoulder replacement devices market has seen considerable growth due to a variety of factors.
• The market for shoulder replacement devices has experienced significant growth in the past few years. It is anticipated to escalate from $1.54 billion in 2024 to $1.66 billion in 2025, with a compound annual growth rate (CAGR) of 8.1%.
The historical growth period attributes its success to an increased number of shoulder fractures, enhancements in surgical implements and techniques, expansion in insurance coverage for such procedures, advancements in reverse shoulder prostheses, and an amplified patient demand for functional restoration.
What Is The Projected Growth Of The Shoulder Replacement Devices Market?
The shoulder replacement devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of shoulder replacement devices is set to witness robust expansion in the upcoming years, hitting a valuation of $2.24 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 7.8%.
The surge in the forecasted growth is attributable to advancements in robotic surgery, increasing use of 3D printing for personalized implants, growing consciousness about joint health, rise in sports-inflicted injuries, and widening of healthcare accessibility in emerging markets. The dominant trends encompass an increase in demand for implants conducive to an active lifestyle, elevated attention to technologies for post-operative recovery, proliferation of robotic-aided shoulder operations, application of sophisticated imaging techniques for preoperative design, and a shift towards cost-efficient options for shoulder replacement.
What Factors Are Driving Growth In The Shoulder Replacement Devices Market?
The shoulder replacement devices market is expected to expand, driven by the increasing number of road accidents. The rise in vehicle usage, ineffective road safety schemes, and distracted driving are contributing to a higher frequency of accidents, thus increasing risks on the road. Shoulder replacement devices play a vital role in offering relief to patients suffering from severe shoulder injuries due to road accidents. These devices aid in restoring joint functions, relieving pain, and allowing patients to return to their regular activities, enhancing their quality of life through bespoke surgical procedures catering to their distinct injuries. For example, the Bureau of Infrastructure and Transport Research Economics, a government department based in Australia, reported in December 2023 that there were 1,266 road fatalities in 2023. This number signifies a 7.3% increase compared to the 1,178 fatalities in 2022. Hence, the mounting number of road accidents is fueling the expansion of the shoulder replacement devices market.
What Are The Principal Market Segments In The Global Shoulder Replacement Devices Healthcare Industry?
The shoulder replacement devices market covered in this report is segmented –
1) By Type: Anatomical Shoulder Prosthesis, Reverse Shoulder Prosthesis
2) By Material: Metal, Polyethylene, Ceramic
3) By Procedure: Partial Shoulder Arthroplasty, Total Shoulder Arthroplasty, Revision Shoulder Arthroplasty
4) By End-User: Hospitals, Clinics, Outpatient Surgical Centers
Subsegments:
1) By Anatomical Shoulder Prosthesis: Humeral Head Prosthesis, Total Shoulder Prosthesis (Humeral And Glenoid Components), Partial Shoulder Prosthesis
2) By Reverse Shoulder Prosthesis: Reverse Total Shoulder Prosthesis (RTSA), Reverse Hemiarthroplasty, Inverted Ball-And-Socket Designs
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Which Emerging Market Trends Are Altering The Shoulder Replacement Devices Market?
Leading organizations within the shoulder replacement devices market, such as OsseoTi porous metal technology, are pioneering new technologies to enhance patient outcomes and cater to specific medical requirements. The OsseoTi porous metal technology mirrors the structure of the natural bone, giving a highly porous surface that supports osseointegration. For example, Zimmer Biomet Holdings Inc., a renowned medical technology firm in the US, earned a 510(k) approval from the United States Food and Drug Administration (FDA) in January 2024 for its Osseo Fit Stemless Shoulder System, a system developed for total shoulder replacement. The implant takes advantage of OsseoTi porous metal technology to strengthen biological fixation via bone ingrowth. The appliance utilizes a press-fit method, securing initial fixation without damaging the bone structure, while also being compatible with existing Identity Humeral Heads, providing surgical adaptability. The system includes tactically located suture holes for subscapularis repair and comes in a single instrument tray to simplify surgical procedures.
Who Are the Key Players in the Shoulder Replacement Devices Market?
Major companies operating in the shoulder replacement devices market are include:
• Johnson & Johnson Services Inc.
• Stryker Corporation
• Zimmer Biomet Holdings Inc.
• Smith & Nephew plc
• Arthrex Inc.
• Enovis Corp.
• Integra Life Sciences Corporation
• Wright Medical Group N.V.
• Medaka International
• Exactech Inc.
• Tornier Inc.
• Kina med Incorporated
• Catalyst OrthoScience
• FX Solutions LLC
• Evolutis SA.
• Aevumed Inc.
• FH Orthopedics Inc.
• Shoulder Innovations Inc.
• Biotechpromed SA
• MedicalExpo
What are the Regional Insights into the Shoulder Replacement Devices Market?
North America was the largest region in the shoulder replacement devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shoulder replacement devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
