The increasing prevalence of degenerative diseases, including osteoarthritis and osteoporosis, is the major factor fuelling the
global small bone & joint orthopedic devices market. The development of osteoporosis results in the weakening of the knee, spinal bones, joints, and the hip. In the U.S., around half of the population aged more than 50 is predicted to be diagnosed with low bone mineral density and osteoporosis by 2020. On the other hand, osteoarthritis is listed amongst the top 10 disabling conditions hampering individuals’ day-to-day activities. In addition, the increasing popularity of shoulder arthroplasty devices, the strong development of radial head repair devices, and the rise of three piece mobile ankle arthroplasty are also amongst the key factors augmenting the growth of the market.
Transparency Market Research (TMR), a market intelligence company, throws light on the key factors responsible for fuelling the major segments within the market for small bone and joint orthopedic devices. The current growth rate of all the niche segments and their predicted growth in the coming years is also highlighted as follows:
- Shoulder Reconstruction Segment Fuelled by Implant Innovation: The most swiftly developing segment of the market for small bone and joint orthopedic devices is the segment of shoulder reconstruction. Steady growth of this segment can be seen owing to the swift transition from partial shoulder and resurfacing shoulder implants towards reversed shoulder implant devices. Reversed shoulder implants have been reported as being ideal for patients suffering from large rotator cuff tears. In addition, the growing utilization of stemless shoulder implants in the treatment of younger patients has also fuelled the shoulder reconstruction segment. Stemless shoulder implants provide preservation of bone mass in times of arthroplasty procedures and this is why these implants are employed particularly for younger patients.
- Ankle Arthroplasty to Experience High Adoption in Various Developed Countries: The count of foot and ankle specialists has risen exponentially in the last few years, thus fuelling the growth of the segment of foot and ankle devices. In addition, a number of technological advancements in the segment of foot and ankle devices are also stimulating the growth of this segment. A number of doctors globally have been adopting new devices in place of traditional devices and have thus switched to mobile-bearing ankles from fixed-bearing ankles.
- Wrist Replacement Procedures being Substituted by Wrist Fusion Procedures: Wrist fusion procedures are simpler to perform as compared to total wrist replacements, which is fuelling the segment of wrist fusion procedures. In addition, the demand for these devices has also increased owing to the increasing count of surgeons being trained for performing total wrist replacement surgeries, especially in developed nations. Furthermore, the growing demand to lower the prices of wrist fusion devices is also stimulating the growth of the segment of wrist fusion procedures. Thus, wrist fusion procedures are poised to gain more popularity in the coming years, thus fuelling the market for small bone and joint orthopedic devices.
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The growing popularity of all these segments is poised to fuel the overall market in the coming years. However, the increasing advent of tissue engineering, bone substitutes, and pharma drugs may restrain the growth of the market in forthcoming years.
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