Global Small Bone and Joint Orthopedic Devices Market 2017-2021
About Small Bone and Joint Orthopedic Devices
Small bone and joint orthopedic surgery is a procedure that replaces bones and structures lining the joints with new components such as fixation or support devices. This procedure is necessary when the articular cartilage is damaged or worn out, which disrupts the gliding movements of bones. New components may be made from metal, plastic, or carbon-coated materials. They allow the joints to move again without pain, increase the range of motion, and improve the appearance of joints. Shoulder, elbow, wrist, and foot and ankle joints are commonly replaced.
Technavio’s analysts forecast the global small bone and joint orthopedic devices market to grow at a CAGR of 9.00% during the period 2017-2021 .
Covered in this report
The report covers the present scenario and the growth prospects of the global small bone and joint orthopedic devices market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of these devices.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Small Bone and Joint Orthopedic Devices Market 2017-2021
Technavio recognizes the following companies as the key players in the global small bone and joint orthopedic devices market: Acumed, Arthrex, DePuy Synthes, Smith & Nephew, and Stryker
Other Prominent Vendors in the market are: Exactech, Flower Orthopedics, Groupe Lépine, Integra LifeSciences, Lima Corporate, Mathys Medical, MatOrtho, Medartis, Orthofix, OsteoMed, Tecomet, Wright Medical, Z-Medical, and Zimmer Biomet.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increase in healthcare expenditure globally. Continuous R&D and ongoing clinical trials have resulted in better product designs and formulations that incorporate advanced technologies. Advances in the healthcare industry and infrastructure have led to an increase in the global healthcare expenditure. Developed countries in the Americas and Europe make significant investments on healthcare.”
According to the report, one of the major drivers for this market is Rising prevalence of degenerative joint diseases. Joints are susceptible to gradual deterioration and damage. Degenerative joint disease refers to the inflammation, breakdown, and eventual loss of the shock-absorbing cartilage, which cushions the joints. According to the CDC, between 2013 and 2015, approximately 54.4 million adults in the US had some form of arthritis, rheumatoid arthritis, lupus, gout, or fibromyalgia. The prevalence of arthritis varies by state in the US. It ranged from 17.2% in Hawaii to 33.6% in West Virginia in 2015. Around 78 million people above the age of 18 in the US, which is 26% of the country's population, are projected to have arthritis by 2040. In 2016, osteoarthritis affected over 30 million adults in the US.
Further, the report states that one of the major factors hindering the growth of this market is Emergence of tissue engineering and bone substitutes. Tissue engineering and bone substitutes have been gaining popularity in the recent years. Tissue engineering uses a combination of cells, engineering materials, suitable biochemicals, and physicochemical factors to replace or improve biological tissues. Tissue engineering involves the use of a platform to create a viable tissue. While tissue engineering has several applications, it is commonly used to repair or replace a part or whole tissue such as bone, cartilage, blood vessels, skin, muscle, and bladder. Bone substitutes are being used in surgery. Over two million bone grafting procedures are performed across the world each year. Autografts are considered as the gold standard for bone substitution. However, morbidity and their limited availability are challenges.
Acumed, Arthrex, DePuy Synthes, Smith & Nephew, Stryker, Exactech, Flower Orthopedics, Groupe Lépine, Integra LifeSciences, Lima Corporate, Mathys Medical, MatOrtho, Medartis, Orthofix, OsteoMed, Tecomet, Wright Medical, Z-Medical, and Zimmer Biomet.
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