Global Shoulder Replacement Market is estimated to value over USD 2.5 billion by 2026 end and register a CAGR of over 7% during the forecast period 2019-2026.
A soaring geriatric population and increasing cases of arthritis are key factors responsible for market growth. Additionally, manufacturers emphasizing on developing advanced devices for shoulder fracture repair bolster the growth of the market.
However, injuries post shoulder arthroplasty operations may impede the growth of the market significantly.
On the other hand, massive investments by manufacturers to develop shoulder arthroplasty devices especially in the emerging economies like India and growing awareness towards treatments available for shoulder injuries provide profitable opportunities for the market to expand.
Anatomical Shoulder Prosthetics Segment to Hold More than 70% of the Market Share
The anatomical shoulder prosthesis segment is projected to exhibit an exponential growth rate with a CAGR of over 7% during the forecast period. This segment was valued over USD 1 billion in 2017 and it is anticipated to reach a value of approximately USD 1.8 billion by 2026 end with a staggering market share of over 70%.
North America Region Pose More Lucrative Opportunities for Market Growth
The North American region is projected to witness significant market growth during the forecast period. The anatomical shoulder prosthesis shall remain as the dominant segment of the region who is assured to register a CAGR of over 8% during the forecast period. The market valuation of this segment is estimated to reach over USD 400 million by 2026 end.
Some of the key players of the shoulder replacement market include Integra LifeSciences Corp., Zimmer Biomet, Artherex Inc., Johnson & Johnson, Wright Medical Group, Smith & Nephew Plc., Conmed Corp., DJO Global, Exactech Inc. and Evolutis.
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Global Shoulder Replacement Market Segmentation:
By Product Type
· Anatomical Shoulder Prosthesis
· Reverse Shoulder Prosthesis
By End User
· Hospital
· Ambulatory Surgical Centre
· Orthopaedic Clinics
By Region
· Asia Pacific
· Latin America
· Europe
· Rest of the World
Growing awareness regarding treatments available for shoulder injuries and availability of cost-effective treatments shall augment market growth especially in the emerging economies
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Competitive Landscape:
· Tier 1 players- established companies in the market with a major market share
· Tier 2 players
· Emerging players which are growing rapidly
· New Entrants
FutureWise Key Takeaways:
· Rise in the geriatric population shall increase the number of cases related to arthritis leading to the soaring demand for shoulder replacement
Objectives of the Study:
· To provide with an exhaustive analysis on the shoulder replacement market trends by product type, by end user and by region
· To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
· To evaluate and forecast micro-markets and the overall market
· To predict the market size, in key regions (along with countries)— North America, Asia Pacific, Europe, Latin America and rest of the world
· To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
· Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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