The global minor orthopedic replacement implants market was valued nearly at $1.6 billion in 2017. North America is the largest market for minor orthopedic replacement implants, accounting for around 62% of the global market. The minor orthopedic replacement implants market in the USA is the largest in the world.
Minor orthopedic implants include implants used in shoulder, wrist, ankle and foot joints. These implants are used to restore joint function and relieve pain. Minor orthopedic joint replacement surgery for shoulder, wrist, ankle and foot is growing because of the high incidence of arthritis and fractures. Osteoarthritis and rheumatoid arthritis are the major causes for joint replacement surgery including minor orthopedic joints. The other cause for joint replacement surgery is failed previous joint replacement surgery. The purpose of joint replacement surgery is to restore joint motion for activities of daily living and to alleviate pain. A joint replacement helps to restore the power and movement of the joint which is lost due to age-related changes, i.e. wear and tear of muscles.
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Minor Orthopedic Replacement Implants Market Size
The global market for minor orthopedic replacement implants is expected to reach around $2.1 billion in 2021, growing at a growth rate of around 7%. Industry growth is primarily driven by increased elderly population with arthritis, increase in advanced surgical procedures and advanced materials for implant manufacturing.
Players in the market include Depuy Synthes, Wright Medical Group Zimmer Biomet, Stryker, Exactech and Integra.
Depuy Synthes was the largest competitor in the minor orthopedic replacement implants market in 2017 with around 20% share of the market. Depuy Synthes is a part of the Johnson & Johnson group of companies. The company offers orthopedic and neuro products and services for joint reconstruction, trauma, spine, sports medicine, neuro, cranio-maxillofacial, power tools and biomaterials.
The minor orthopedic replacement implants market is segmented by specialty, and by geography.
By Service Type – The minor orthopedic replacement implants market is segmented by type into
- a) Shoulder Replacement Implants
- b) Foot & Ankle Replacement Implants
- c) Elbow Replacement Implants
- d) Wrist Replacement Implants
Foot & ankle replacement implants had the highest growth rate of nearly 8.1% during the historic period.
By Geography – The minor orthopedic replacement implants market is segmented into
- o North America
- o Western Europe
- o Asia Pacific
- o Eastern Europe
- o South America
- o Middle East
- o Africa
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