Global Extremities Market 2018-2022
Technologically advanced extremity products provide several benefits to both patients and healthcare professionals (HCPs). Patients recover their mobility quickly and HCPs receive aid in performing procedures efficiently. Emergence of robotics and 3D printing has helped the HCPs to improve the efficiency of procedures as robotics reduces the time required for surgery while 3D printing facilitates customization of implants. These technologically advanced products improve the efficiency and success rates of procedures in the extremities body market.
Technavio’s analysts forecast the global extremities market to grow at a CAGR of 6.71% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global extremities market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Extremities Market 2018-2022
Technavio recognizes the following companies as the key players in the global extremities market: Johnson & Johnson, Smith & Nephew, Stryker, Wright Medical, and Zimmer Biomet.
Other Prominent Vendors in the market are: Arthrex, Biotech Limb and Brace, Bioventus, Ceramisys, CollPlant, Colson Associates, CONMED, Corin, DJO Global, EVOLUTIS, EXACtech, GROUP FH ORTHO, FX Solutions, Graftys, Implantcast, Integra LifeSciences, Isto Biologics, Lima Corporate, Merete Technologies, Myomo, NovaBone, Orthofix, Ossur, Promedics Orthopaedic, Regennex, RTI Surgical, Silver Bullet Therapeutics, Skeletal Dynamics, Skye Biologics, Surgical Appliance Industries, Trimed, and Xtant Medical.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing M&A activity. The global extremities market is witnessing several M&A and partnerships. This is helping the leading vendors to increase their respective market shares and expand their operations in new geographic regions. Companies with strong financials acquire companies that have a strong focus on R&D, which helps the acquirer develop new products.”
According to the report, one driver in the market is technological innovations. Technological innovations in extremity products have provided several benefits to both patients and HCPs. For patients, a technologically advanced product is likely to restore mobility faster. For HCPs technological innovations help perform procedures efficiently. For instance, the emergence of robotics and 3D printing has helped HCPs improve the efficiency of procedures. Robotics reduces the time required for surgeries. 3D printing helps surgeons customize implants according to the patient’s anatomy. Hence, the success rate of procedures are higher.
Further, the report states that one challenge in the market is high cost of extremity procedures. Hospitals and surgical facilities are under constant pressure to deliver quality healthcare at low cost. However, this has become difficult due to the focus on advanced procedures that involve the use of sophisticated devices. Healthcare facilities must consider various procurement processes and budget allocation considerations before they provide reimbursements for such devices. To increase their budget, hospitals sometimes increase the procedure cost, which can be high for patients as it increases their cost burden, which affects the adoption of such procedures. High procedure cost can affect the growth of the global extremities market.
Johnson & Johnson, Smith & Nephew, Stryker, Wright Medical, Zimmer Biomet, Arthrex, Biotech Limb and Brace, Bioventus, Ceramisys, CollPlant, Colson Associates, CONMED, Corin, DJO Global, EVOLUTIS, EXACtech, GROUP FH ORTHO, FX Solutions, Graftys, Implantcast, Integra LifeSciences, Isto Biologics, Lima Corporate, Merete Technologies, Myomo, NovaBone, Orthofix, Ossur, Promedics Orthopaedic, Regennex, RTI Surgical, Silver Bullet Therapeutics, Skeletal Dynamics, Skye Biologics, Surgical Appliance Industries, Trimed, and Xtant Medical.
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