The growing prevalence of degenerative disorders, such as osteoarthritis and osteoporosis, has been fuelling the demand for small bone and joint orthopedic devices significantly across the world. In 2014, the global opportunity in these devices was worth US$4.1 bn. Expanding at a CAGR of 8.10% during the period from 2015 to 2023, it is likely to reach US$8.2 bn by the end of 2023.
The rising demand for radial head repair devices and three-piece mobile ankle arthroplasty and the growing popularity of shoulder arthroplasty devices are likely to drive the market’s growth in the coming years.
Demand for Small Bone and Joint Orthopedic Devices to Remain High in Shoulder Reconstruction
Shoulder reconstruction reports the most prominent demand for small bone and joint orthopedic devices across the world. The increasing shift of preferences from partial and resurfacing shoulder implants to reversed shoulder implants among patients suffering from large rotator cuff tears has emerged as the primary factor that has fueled the application of these devices in shoulder reconstruction. Along with this, the rising usage of stemless shoulder implants for the treatment of young patients is also stimulating the demand for these devices in this segment. The opportunity for small bone and joint orthopedic devices in shoulder reconstruction is expected to expand to US$4.7 bn by 2023.
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The leading manufacturers of small bone and joint orthopedic devices across the world are Flower Orthopedics, Z-Medical GmbH + Co. KG, Arthrex Inc., Tecomet Inc., Wright Medical Group N.V., F. Hoffmann-La Roche Ltd., Depuy Synthes, Smith & Nephew plc, Stryker Corp., Zimmer Biomet Holdings Inc., Acumed LLC, and DJO Global.