According to the latest market report published by Credence Research, Inc. “Extremity Reconstruction Devices Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global extremity reconstruction devices market was valued at US$ 9,774.9 Mn in 2016, and is expected to reach US$ 16,663.2 Mn by 2025, expanding at a CAGR of 6.1% from 2017 to 2025.
Browse the full report Extremity Reconstruction Devices Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/extremity-reconstruction-devices-market
Extremity reconstruction devices market is expected to show significant market growth during forecast period due to growing number of geriatric population across the globe, more sports injuries, and increasing rates of obesity, osteoarthritis, trauma and osteoporosis. Currently, Zimmer Biomet, Stryker, DePuy Synthes, Smith & Nephew etc. are dominating the extremity reconstruction devices market held more than 70% of total market share.
For the purpose of the study, the global extremity reconstruction devices market is segmented on the basis of product types such as plating systems, bone wedge solutions, screws systems, instrumentation system, 3D printed components, joint replacement systems (total, partial, revision), others (shafts, sockets, connectors, covering for cosmetic appearance, etc.). At present, screws and plating systems are dominating the market due to the early functionality, advancement in minimally invasive procedures, and reduced non-union risk associated with these products.
The extremity reconstruction devices market for implants and other products used in replacing or reconstructing extremities is categorized on the basis of applications such as lower (hip, knee and ankle replacement) and upper extremities (shoulder, elbow, wrist and finger joint replacement). It is observed that, in the base year 2016, upper extremities is major revenue generating segment, among this shoulder held the largest market share and revenue primarily generated by smaller players offering differentiated implants and emerging surgical techniques. Extremity reconstruction devices are primarily made from metallic, polymeric and ceramic biomaterials. However, at present, metallic biomaterial is the major revenue contributor due to its tolerability and durability furthermore, all screws, plates, bone wedge, shafts, connector are manufactured by using metallic biomaterial.
North America is the largest regional extremity reconstruction devices market in year 2016 with the United States accounting for a highest market share because technological advances in extremity reconstruction, along with the inclination towards the active lifestyle pattern supported by higher disposable income. Better reimbursement policies in healthcare systems, and higher number of target population are some other factors that are driving the growth of extremity reconstruction devices market in the North America. Extremity implants are approved using the US-FDA’s 510(k) pathway, it requires to demonstrate the safety of a new medical device by showing that it is identical to a device that is already approved in the market. This pathway decreases regulatory requirements and therefore allows devices to be introduced in the market with minimal clinical data. On the other hand, Asia Pacific is expected to show significant market growth during forecast period due to growing awareness related to joint reconstruction procedures among the general population in emerging nations such as India and China.
Market Competition Assessment:
The global extremity reconstruction devices market is observed to be highly competitive and comprises large number of players. This market is currently dominated by few players such as Amplitude Surgical, Consensus Orthopedics, Corentec Co., Ltd., DePuy Synthes, DJO Surgical, Exactech, Inc., Integra Lifesciences, Intellijoint Surgical, Inc., Medacta International SA, Meril Life Sciences Pvt. Ltd., Smith & Nephew Plc., Stryker Corp., United Orthopedic Corp., Wright Medical, Inc., Zimmer Biomet Holding Inc. and others.
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Key Market Movements:
- Factors such as increase in incidence of joint disabling diseases such as osteoarthritis, growing number of geriatric population, technological innovations in extremity devices, growing incidence of sports related injuries, trauma drive the growth of extremity reconstruction devices market globally
- Due to the high number of unmet needs, vendors in the market are focusing on innovation and technological advancement in reconstruction devices, this would further influence the growth of extremity reconstruction devices market during forecast period
- Higher cost of surgery may negatively impacting the growth of extremity reconstruction devices market.