Global Upper Extremities Market - Size, Projections, Drivers, Trends, Vendors, and Analysis Through 2021 by Technavio

Technavio has announced the release of their 'Global Upper Extremities Market 2017-2021' report. (Graphic: Business Wire)

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LONDON--()--According to the latest market study released by Technavio, the global upper extremities market is projected to grow to USD 5.22 billion by 2021, at a CAGR of close to 7% over the forecast period.

This research report titled ‘Global Upper Extremities Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

 
Upper extremities include the shoulders, upper limbs, elbows, forearms, wrists, and fingers. The extremity market includes products used to treat, repair, replace, or heal extremity injuries such as fractures or damage. The introduction of new, advanced, and innovative products to the upper extremities market is a key factor driving its growth.
 

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Based on products, the report categorizes the global upper extremities market into the following segments:

  • Braces and supporting systems
  • Orthobiologics
  • Accessories

Braces and supporting systems

Braces and supporting systems occupy more than 55% of the global upper extremities market. Braces and supporting systems include braces, implants, and plates,” says Srinivas Sashidhar, a lead analyst at Technavio for orthopedics and medical devices research.

The sales of braces and supporting systems are growing as the older population are prone to fractures and age-related conditions such as osteoporosis and arthritis. Also, vendors are constantly involved in developing and launching braces and supporting systems with the latest technologies, which has resulted in improved surgical outcomes.

Orthobiologics

Orthobiologics empowers the healing process of fractured bones by using regenerative medicines such as stem cell therapy and tissue scaffolds. The upper extremities market segment is projected to be worth USD 851 million by 2021. The growth in the market segment will be driven by increased funding to research institutes for providing quality assurance to various orthobiologics products developed by companies. The research is used by the manufacturers to develop innovative products and expand their portfolios. For instance, Avitus Orthopaedics, a developer of bone harvesting devices received funding from Connecticut Innovation to finalize product manufacturing processes, prepare filings for the US FDA clearance, and fund marketing solutions to support pilot batch sales of products.

Accessories

Accessories in the upper extremities market comprise of pins, nails, and wires, which are used independently or in conjunction with supporting devices such as plates and rods. The market segment is expected to grow swiftly at a CAGR of close to 8% through 2021,” says Srinivas.

The increase in patient population and the resultant growth in the number of procedures is expected to drive the growth of the market segment. Also, small companies such as Silver Bullet Therapeutics and large companies such as Wright Medical, Stryker, and DePuy Synthes are competing with each other to develop and launch novel products to the market.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • DePuy Synthes
  • Stryker
  • Wright Medical
  • Zimmer Biomet

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio has announced the release of their 'Global Upper Extremities Market 2017-2021' report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com