The North America Upper Extremity Implants Market would witness market growth of 5.6% CAGR during the forecast period (2023-2029).
The United Nations General Assembly aims to halve road traffic-related fatalities and injuries by 2030. In addition, despite the fact that low- and middle-income countries account for around 60% of the region’s car population, these countries are responsible for 93% of all road deaths. This increase in traffic-related injuries places a substantial burden on healthcare providers to provide efficient and expedient care. In addition, numerous individuals sustain severe injuries due to these accidents. Thus, this scenario is anticipated to increase the need for upper extremity implants, sustaining market expansion.
Additionally, an increasing emphasis on aesthetics is predicted to be a driving force behind the expansion of the market for implants in the upper extremities. It is projected that the development of minimally invasive procedures, like stemless shoulder implants, will stimulate the rise of the market. In addition, an increasing number of patients are becoming aware of the benefits of minor joint reconstruction implants, and developments in technology, such as the development of reverse shoulder implants, are anticipated to strengthen the market.
Numerous factors can lead to osteoporosis and fractures. Major risk factors include inadequate diet and physical inactivity. Additional risk factors for osteoporosis include personal and familial fracture history. Based on the 2009 Canadian Community Health Survey, the Public Health Agency of Canada calculated that 10% or 1.5 million Canadians aged 40 and over have osteoporosis. Women in this cohort four times more often than males reported having osteoporosis. Women are more prone than men to develop osteoporosis because they have lower beginning bone mass and experience more rapid bone deterioration as they age. Hence, the demand is predicted to rise due to these factors, which will support regional market expansion.
The US market dominated the North America Upper Extremity Implants Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $730.7 million by 2029. The Canada market is poised to grow at a CAGR of 8% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 7.1% 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 U.S., Mexico, Canada, and Rest of North America.
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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