Shoulder Replacement Market Outlook
According to a new report by Expert Market Research titled, “Shoulder Replacement Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global shoulder replacement market is aided by the rise in the number of surgeries and improving medical infrastructure globally. The market is projected to further grow at a CAGR of 7.5% between 2024 and 2032 to reach a value of USD 3.47 billion by 2032.
Shoulder replacement surgery, or shoulder arthroplasty, encompasses a range of surgical procedures designed to replace damaged parts of the shoulder joint with artificial components. The primary objective is to restore the optimal functionality and reduce pain that has not been effectively managed using non-surgical interventions. The surgery ranges from the replacement of just the head of the humerus bone (ball) to the total replacement of both the ball and the socket.
The shoulder replacement market growth is aided by the prevailing global incidence of shoulder-related injuries. With rise in recreational activities and sports engagement, there has been a concurrent rise in shoulder injuries. Moreover, the ever-increasing geriatric population, more prone to degenerative shoulder conditions due to age and wear, is bolstering the market’s expansion.
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One of the growing shoulder replacement market trends is the rapid technological evolution in the orthopaedic domain. The dawn of 3D printing and computer-assisted surgical procedures has refined surgical outcomes, enhancing the precision and customisation of shoulder implants. Consequently, this has risen in the generation of patient-specific prosthetics, aimed to match the exact anatomical specifications of the individual.
The shoulder replacement market demand is driven by the relentless efforts of orthopaedic device manufacturers towards research and development. Their efforts aim to introduce next-gen shoulder prosthetics that promise better post-operative mobility and longevity, thereby improving the quality of life for patients. These innovations enclose range of materials, design, and even minimally invasive surgical techniques.
Regionally, North America and Europe have contributed increasingly to the growing shoulder replacement market size, attributed to their technologically advanced medical infrastructure and heightened awareness regarding orthopaedic health. Meanwhile, Asia-Pacific, with its vast patient demographic and burgeoning healthcare investments, is expected to emerge as a leading region, providing lucrative growth avenues for the market in the years to come.
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Shoulder Replacement Market Segmentation
The market can be divided based on procedures, end use, and region.
Market Breakup by Procedures
- Resurfacing Hemiarthroplasty
- Reverse Total Shoulder Replacement
- Stemmed Hemiarthroplasty
- Total Shoulder Replacement
Market Breakup by End Use
- Hospitals
- Orthopaedic Centres
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global shoulder replacement market. Some of the major players explored in the report by Expert Market Research are as follows:
- Arthrex, Inc.
- DJO, LLC
- Integra Lifesciences Corporation
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
- Smith & Nephew PLC
- Medical Devices Business Services, Inc.
- Wright Medical Group N.V.
- Others
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