The Global Upper Extremity Implants Market size is expected to reach $2.3 billion by 2029, rising at a market growth of 6.2% CAGR during the forecast period.
Natural Biomaterials is gaining popularity and growing at a faster rate because of its capacity for integrating and modifying as well as their bio-compatibility with the patient's tissue. Therefore, Natural Biomaterials registered $157.8 million revenue in 2022. According to a recent analysis of Global Burden of Disease (GBD) 2019 statistics, 1.71 billion people worldwide are affected by musculoskeletal diseases such as fractures, osteoarthritis, amputation and other injuries, and arthritis. Most affected are 441 million in high-income countries, 427 million in the WHO Western Pacific Region, and 369 million in the WHO South-East Asia Region. In addition, musculoskeletal diseases are the leading cause of YLDs, accounting for more than 149 million YLDs, or 17 percent of all YLDs globally.
The major strategies followed by the market participants are Acquisitions as the key developmental strategy in order to keep pace with the changing demands of end users. For instance, In November, 2020, Stryker acquired Wright Medical Group N.V. to innovate and reach more patients. Additionally, In May, 2023, Zimmer Biomet took over Ossis to build out their partnership and broadening Zimmer Biomet's orthopedic suite with the addition of Ossis' personalized implants. Together with this, Zimmer Biomet Holdings, Inc. acquired Embody, Inc. in February, 2023, to strengthen its growing Sports Medicine suite and supports continued business transformation.
Based on the Analysis presented in the KBV Cardinal matrix; DePuy Synthes (Johnson & Johnson) is the forerunner in the Market. In October, 2021, DePuy Synthes introduced Variable Angle Locking Compression Plate, a 2.7 mm Clavicle Plate System, for the treatment of lateral, shaft and medial fractures for small, medium and large clavicles. The launched product provides plate shapes that show the correlation between clavicle size and patient stature to match the bow and contour of the clavicle and contain a wide range of anatomic variability of the clavicle. Companies such as Medtronic PLC, Stryker Corporation and Zimmer Biomet Holdings, Inc. are some of the key innovators in Market.
The leading cause of the increase in injuries, especially in young people, is the year-round participation in a particular sport. Nowadays, many athletes opt to specialize in and focus on just one sport. So today, a slight muscle imbalance or dysfunction is far more likely to lead to an overuse injury. Also, athletes under the age of 18 are suffering more injuries, even though they engage in various preventative activities, putting it into action could be difficult. Thus, for these reasons, sports-related injuries are becoming more common, particularly in young people, which is predicted to drive up demand and support market expansion.
Population aging, or a country's movement in age distribution toward older ages, has been seen mostly in high-income nations. However, this trend has the biggest influence in low- and middle-income countries. For instance, the population of Japan is over 60% older than the age of 30. Most people over 60 are expected to live in low- and middle-income countries by 2050. An aging population is on the rise due to increased life expectancy. And as older populations are more prone to muscle or joints related complications, which may require implants like upper extremities, implants are expected to drive the market growth.
Every surgical operation has some risks; the existence of contagious infections can make these risks worse. The danger of infection, blood effusion, and dislocation are the three main risks associated with joint replacement surgery. Dislocation of the implant is a problem that can happen during an inappropriate movement when the muscles surrounding the implant are too weak (particularly in the first three months following the treatment). Avoiding specific motions is crucial to preventing this problem, especially in the first three months following the operation. This will hinder the market growth for upper extremities implants.
Based on type, the market is segmented into shoulder, elbow and hand & wrist. The shoulder segment held the highest revenue share in the market in 2022. This is due to the increase in sports injuries, shoulder dislocations, an aging population, a growth in osteoarthritis cases, and shoulder fractures, resulting in a rise in demand for products for implanting the upper extremities. In addition, shoulder replacements rank among the most common orthopedic operations for the extremities.
By end-use, the market is classified into hospitals, ASCs’ and clinics. The ASCs’ segment garnered a promising growth rate in the market in 2022. This is due to increased demand for ASCs in upper-extremities procedures, increased new product advancements, and FDA approval. With excellent postoperative pain management, quick patient discharge, few side effects, and overall cost minimization, the ASCs category offers additional benefits to the patient. The above-mentioned factors are anticipated to drive the market segment's growth.
On the basis of material, the market is divided into metallic biomaterials, ceramic biomaterials, polymeric biomaterials and natural biomaterials. The natural biomaterials segment procured a considerable growth rate in the market in 2022. Natural biomaterials have become popular in surgical operations. Also, this biomaterial's scaffolding or support enables cells to begin building new tissue, which provides the segment's growth in the forecasted period.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 1.5 Billion |
| Market size forecast in 2029 | USD 2.3 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2029 |
| Revenue Growth Rate | CAGR of 6.2% from 2023 to 2029 |
| Number of Pages | 224 |
| Number of Table | 364 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Material, Type, End-use, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region generated the highest revenue share in the market in 2022. This is owing to factors like the increase in shoulder injuries, including fractures, sprains, and strains, as well as dislocations and separations. In addition, the presence of important participants in North America and the rise in sports injuries are driving regional expansion. Also, the need for products has grown significantly as a result of the establishment of healthcare facilities that treat a variety of ailments, such as fractures, dislocations, tendonitis, and arthritis, which is fueling the market growth in the region.
Free Valuable Insights: Global Upper Extremity Implants Market size to reach USD 2.3 Billion by 2029
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.
By Material
By Type
By End-use
By Geography
The Market size is projected to reach USD 2.3 billion by 2029.
The increasing prevalence of sport injuries are driving the Market in coming years, however, Complications following implant surgery restraints the growth of the Market.
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.
The Metallic Biomaterials segment acquired maximum revenue share in the Market by Material in 2022 thereby achieving a market value of $1 billion by 2029.
The Hospitals segment is leading the Market by End-use in 2022 thereby, achieving a market value of $1.2 billion by 2029.
The North America market dominated the Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $1 billion by 2029.
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