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Shoulder Replacement Market to Touch Nearly US$ 4 Billion by 2027, Says TMR
ALBANY, New York, June 25, 2019 /PRNewswire/ -- Rising number of geriatric population is expected to provide impetus to the shoulder replacement market due to decreasing mobility and degenerative joint disorder. The global shoulder replacement market is anticipated to increase at a rate of CAGR 7% over the forecast period 2019 to 2027. The global shoulder replacement market was estimated at worth US$2,117.8 mn in 2018.
On the basis of geography, Asia Pacific is likely to hold a major share in the global shoulder replacement market. The growth in this region is mainly due to increasing pool of elderly population and rising number of joint disorder. In terms of surgical procedures, the global shoulder replacement is segmented into total shoulder replacement, partial shoulder replacement, shoulder resurfacing, and revision shoulder replacement. Of these, reverse shoulder replacement is expected to dominate the global shoulder replacement during the forecast year. The growth for this type of surgical procedure is to increase mobility, increased success rate, and increased efficiency.
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Rising Osteoarthritis to Strengthen Shoulder Replacement Market
As we advance in age, the bones also start to degenerate and end up with osteoarthritis of joints such as shoulders, knees, and hips. However, the most commonly affected are shoulders and knees. Rising number of osteoarthritis is expected to boost the global shoulder replacement market.
Lifestyle is another factor that is adding fuel to the shoulder replacement market. Lack of exercise, continuous work on laptops, computers, and other devices do not give full mobility to shoulders which eventually results in shoulder arthritis.
Additionally, major road accidents can also damage the shoulder joints to a greater extent that is beyond repair; in such cases surgeons consider shoulder replacement procedures to offer a quality lifestyle to patients.
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Osteonecrosis to Promote Shoulder Replacement Market Growth
Osteonecrosis is a rare disease; however, lately it is on the rise due to various factors such as excessive intake of steroids, alcohol, smoking, and any other associated disease such as Crohns. This again affects joints such as shoulders, knees, and hips. Since there is no cure for this disease, the only option is to get them replaced. Thus, the global shoulder replacement market is expected to witness a huge growth opportunities in the upcoming years.
Moreover, conditions like frozen shoulder, rotator cuff, and proximal fractures can lead to shoulder replacement. Additionally, rise in number of degenerative disorder much before the onset of old age is likely to drive the global shoulder replacement market in the forthcoming years.
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High costs associated with these surgeries are projected to dampen the global shoulder replacement market during the forecast period. Nonetheless, availability of novel implants with dual mobility facilities are expected to continue to provide growth opportunities in the global shoulder replacement market.
The global shoulder replacement market remains highly competitive and fragmented due to the presence of global and regional players, elucidates an upcoming Transparency Market Research (TMR) report. Some of the top players in the market include DJO Global, DePuy Synthes, Zimmer Biomet, Stryker, and Wright Medical Group N.V. These companies are focussing on research and development activities to provide surgical solution and get them patented. The top players in the market are concentrating on collaborating with other companies to leverage benefits that are beneficial for both the companies and the surgical industry. On the other hand, regional players are adopting strategies such as providing surgical implants at a relatively lower cost to hold a larger share in the market.
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This review is based on the findings of a TMR report titled, "Shoulder Replacement Market (Procedure: Total Shoulder Replacement, Reverse Shoulder Replacement, Partial Shoulder Replacement, Shoulder Resurfacing, and Revision Shoulder Arthroplasty; End User: Hospitals, Ambulatory Surgical Centers, and Orthopedic Clinics)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027."
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