Small Bone & Joint Devices Market Growth & Trends
The global small bone and joint devices market size is anticipated to reach USD 9.6 billion by 2027 registering a CAGR of 8.3%, as per the new report by Grand View Research, Inc. Rising incidence of sports injuries inclusive of disc injury, fracture, rotator cuff injury, and others is a primary factor driving the market. According to the Stanford children’s health statistics, U.S. 2019, nearly 30 million teenagers participate in sports and more than 3.5 million injuries occur each year.
Technological advancements are rapidly transforming the small bone and joint orthopedic device market. Some of the major companies account for a substantial share of the market owing to their extensive product offerings. Moreover, they focus on expanding their current portfolio. For instance, in May 2018, DePuy Synthes launched GLOBAL UNITE Reverse Fracture Shoulder. It is an implant solution for shoulder reconstruction for patients with rotator cuff deficient. This product is meant to increase the flexibility of the bone-implant by securely reattaching it with a porous coating to deliver a stable surgical result.
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Small Bone & Joint Devices Market Report
Small Bone & Joint Devices Market Report Highlights
- Shoulder reconstruction devices held the largest share in 2019 and will retain its dominant position throughout forecast years due to growing cases of arthritis and rotator cuff injury, which lead to shoulder reconstruction surgery
- Elbow repair devices segment is growing at a steady rate owing to rising cases of injuries in distal humerus nonunions, humerus fractures, and other elbow damages
- Growing use of hybrid plates and technological up-gradation are few of the driving factors for the segment as this helps provide superior bone fusion and enhances the patient outcome
- Major market participants are adopting innovative strategies such as, product development, partnerships, strategic collaborations, M&A, and regional expansion, to attain a competitive advantage
Small Bone & Joint Devices Market Segmentation
Grand View Research has segmented the global small bone & joint devices market on the basis of the type, application, and region:
Small Bone And Joint Devices Type Outlook (Revenue, USD Million, 2016–2027)
- Shoulder Reconstruction Devices
- Elbow Repair Devices
- Foot and Ankle
- Plate and Screws
- Others
Small Bone And Joint Devices Application Outlook (Revenue, USD Million, 2016–2027)
- Foot
- Ankle
- Toe
- Hand
- Thumb
- Wrist
- Elbow
- Shoulder
- Others
List of Key Players of Small Bone And Joint Devices Market
- DePuy Synthes Companies
- Smith & Nephew PLC
- Zimmer Biomet
- Stryker Corporation
- Wright Medical Group N.V.
