Growing Prevalence of Arthritis Driving the Global Extremity Products Market Through 2020, Says Technavio

LONDON--()--According to the latest market study released by Technavio, the global extremity products market is expected to grow at a CAGR of close to 9% during the forecast period.

This research report titled ‘Global Extremity Products Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

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The report categorizes the global extremity products market into three major segments by application. They are:

  • joint replacement and reconstruction
  • bone trauma and reconstruction
  • extremity biologics

Global joint replacement and reconstruction market

The global joint replacement and reconstruction market is driven by the elderly population and the accompanying increase in the rate of arthritis cases among the elderly population worldwide. In the US alone, 53 million adults had physician-diagnosed arthritis in 2015, which is almost 20% of the US adult population. According to Amber Chourasia, a lead analyst at Technavio for health and wellness research, “This number will increase to 69 million by the end of 2030. Arthritis has been identified as one of the most common causes of disability in the world today.”

In 2015, the sales of joint replacement and reconstruction products totaled approximately USD 850 million, and they will grow at a steady pace during the forecast period. Ankle reconstruction and replacement products were the primary revenue generators for this segment, largely due to high innovation level. This trend is likely to continue in the near future.

Global bone trauma and reconstruction market

The bone trauma and reconstruction market was valued at USD 850 million in 2015. It includes both external and internal fixation devices as well as other orthobiological devices used to reconstruct bones. The major growth driver for this segment is the increase in the number of sports injuries around the world and a rise in the number of injuries due to road accidents. These factors will increase the demand for bone trauma and reconstruction products during the forecast period.

With the market nearly reaching saturation in most developing countries, APAC will be the primary source of demand for this segment during the forecast period because of the region's high population and subsequent rise in the number of patients. “Various organizations and vendors are trying to spread awareness about bone deformities and associated products, which will help increase the sales of products worldwide, thereby driving the growth of the market during the next four years, says Amber.

Global extremity biologics market

The global extremity biologics market segment is a relatively new product segment and has been gaining a lot of attention since 2013. These products allow rapid healing of tissues and tendons, making them ideal for treating sports injuries. Athletes are the ultimate beneficiaries of these products, and medical and healthcare facilities account for a vast majority of the sales in this product category.

The Rotator Cuff Repair Patch by Zimmer Biomet allows a damaged rotator cuff of the shoulder to heal and recover completely in less than six weeks. Over 42% of these products are used either to treat shoulder or ankle injuries. Due to the extremity biologics market being in a relatively nascent stage, the market has great growth potential for growth during the forecast period.

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

  • DJO
  • Exactech
  • Johnson & Johnson
  • 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, re-sellers, 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

According to the latest market study released by Technavio, the global extremity products market is expected to grow at a CAGR of close to 9% during the forecast period.

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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