Global Minor Orthopedic Implants Replacement Market Characteristics
Minor orthopedic implants include implants used in shoulder, wrist, ankle and foot joints. These implants are used to restore the movement of joint function, and relieve pain. The implants are mostly used by patients suffering from osteoarthritis and rheumatoid arthritis.
Global Minor Orthopedic Implants Replacement Market Competitive Landscape
The market is essentially segmented into large and small joint replacements with the former including joints like knee, hip and the latter including both upper and lower extremities. Major orthopedic manufacturing companies with a significant presence in both the large and small bone joint replacement markets are Depuy Synthes, Zimmer and Biomet, Wright Medical Group, Stryker, Smith & Nephew, Integra LifeSciences and Exactech.
Among these companies operating in the minor orthopedic implants replacement market, Depuy Synthes accounted for the largest share in the market in 2017.
Global Minor Orthopedic Implants Replacement Market Size
The global minor orthopedic implants replacement market is expected to reach $2.1 billion by 2021 at a CAGR less than 8%. Growth in market is mainly due to rising incidence of arthritis among elderly population, growing awareness towards replacement surgery and utilization of advanced materials such as cobalt, chromium and titanium for implant manufacturing.
However, the market is expected to face restraints from factors such as short life span of implants, high revision rates for joint replacements and high development costs of implants.
Global Minor Orthopedic Implants Replacement Market Segmentation
The global minor orthopedic implants replacement market can be segmented based on placement of the implants and by geography.
By Placement Of Implants - The minor orthopedic implants replacement market is segmented into shoulder replacement implants, foot and ankle replacement implants, elbow replacement implants and wrist replacement implants.
Shoulder implants are used to replace the shoulder joint. The shoulder joints are ball-and-socket joints comprising three bones – upper arm bone, shoulder blade and collarbone. Implants used in total shoulder replacement include fully-constrained implants, non-constrained implants and semi constrained implants.
Foot and ankle implants are used to replace ankle joints. Ankle joints are formed from the tibia (shin bone), fibula, and trochlea of talus (ankle bone) bones. Ankle joint replacement implants are used when the cartilage covering the ankle bones is worn down. Implants used in the foot and ankle include the agility ankle, the inbone total ankle, eclipse total ankle replacement and the star (scandinavian total ankle replacement).
Elbow implants are used to replace the elbow joints. The humerus bone of the upper arm, with the ulna and radius bones of the fore arm constitute the elbow joint. Implants used in total elbow replacement include cemented implants and uncemented implants.
Wrist implants are used in the replacement of wrists. The wrist is a collection of multiple bones and joints. The distal ends of the radius and ulna, 8 carpal bones, and the proximal portions of the 5 metacarpal bones, constitute the wrist. Major implants used in total wrist replacement include meuli wrist prosthesis, trispherical prosthesis, geupar prosthesis, biaxial prosthesis and universal wrist implant.
Among these segments, shoulder replacement implants account for the largest share in the global minor orthopedic implants replacement market.
By Geography - The global minor orthopedic implants replacement market is segmented into North America, South America, Western Europe, Eastern Europe, Asia Pacific, Middle East and Africa.
Among these regions, the North American region holds the highest share in the minor orthopedic implants replacement market, followed by Western Europe. In the region, the US minor orthopedic implants replacement market is expected to be leading the market.
Global Minor Orthopedic Implants Replacement Market Trends
Major trends in the minor orthopedic devices market include growing investments by major orthopedic implant manufacturing companies in emerging economies such as Brazil, India and China, increasing use of reverse shoulder arthroplasty and rising awareness for minor joint procedures among customers.
Potential Opportunities Of The Minor Orthopedic Implants Replacement Market
The rising incidence of arthritis patients among aging population, increasing surgical procedures and technological advancements in implants manufacturing is expected to increase the demand and scope for the minor orthopedic implants replacement market.