The Asia Pacific Upper Extremity Implants Market would witness market growth of 7.2% CAGR during the forecast period (2023-2029).
In stereolithography (SLA), the workpiece is immersed gradually deeper and deeper into a photopolymer liquid solution (epoxy resin, for example). A laser passes over the initial material throughout each stage to harden it in thin layers to form the desired shape. Stereolithography is a 3D printing technique that has been utilized for a long time, so much experience has been acquired. Thus, such use of technology to create implants specific to the needs of patients that are durable and easy to use will drive the market growth.
The demand is driven by the rising prevalence of decreased bone density, weakened bones, musculoskeletal disorders, and the danger of degenerative bone disorders. In addition, an increase in the incidence of orthopedic injuries or diseases like arthritis and osteoarthritis and the rapid growth of the geriatric population, which is more susceptible to orthopedic disorders, are growth drivers for the market. In addition, developments in technology such as robot-assisted surgical tools, the adoption of implanted medical devices, and the widespread application of such implants in the management of musculoskeletal and orthopedic disorders and injuries all contribute to the expansion of the market.
Japan now ranks among the nations with the longest life expectancies in the world due to its rising average life expectancy. Men's average life expectancy was 81.25 years in 2018, while women's average was 87.32 years. Men are predicted to live an average of 84.95 years and women an average of 91.35 years by 2065. As it keeps rising, the proportion of adults 65 and older is presently the greatest globally. It was 28.4 in 2019 and is anticipated to increase to 33.35 in 2036 and 38.4 in 2065. Thus, due to the government's insurance schemes and the growing old age population, the need and usage of upper extremity implants will propel APAC, as such population is more prone to attain injuries or complications that require these implants.
The China market dominated the Asia Pacific Upper Extremity Implants Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $154.1 million by 2029. The Japan market is experiencing a CAGR of 6.5% during (2023 - 2029). Additionally, The India market would exhibit a CAGR of 7.8% during (2023 - 2029).
Based on Material, the market is segmented into Metallic Biomaterials, Ceramic Biomaterials, Polymeric Biomaterials and Natural Biomaterials. Based on Type, the market is segmented into Shoulder, Elbow and Hand & Wrist. Based on End-use, the market is segmented into Hospitals, Clinics and ASCs'. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Upper Extremity Implants Market is Projected to reach USD 2.3 Billion by 2029, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Stryker Corporation, DePuy Synthes (Johnson & Johnson), Zimmer Biomet Holdings, Inc., Smith & Nephew PLC, Medtronic PLC, Aesculap, Inc. (B. Braun Melsungen AG), DJO Global (Enovis Corporation), Ossur Hf., Acumed LLC (Colson Medical, Inc.) and Arthrex, Inc.
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