CAGR: 7.8%Current Market Size: USD 1.45 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global shoulder arthroplasty market is expected to grow from USD 1.45 billion in 2022 to USD 2.6 billion by 2030, at a CAGR of 7.8% during the Projection period 2023-2030. The growth of the shoulder arthroplasty market is mainly driven by the increase in incidences of arthritis.
The ball and sometimes the socket is replaced during shoulder arthroplasty or shoulder replacement surgeries using a prosthesis composed of metal and polyethylene components. The name of this procedure is shoulder arthroplasty (ARTH-row-plas-tee). One treatment option is to replace just the humerus bone's ball; the other is to replace both the ball and the socket (glenoid). The socket is surrounded by and made deeper by soft tissue. Articular cartilage, which is tough and smooth, covers the head of the upper arm bone (humerus), and the joint's thin inner lining allows for easy mobility. Tendons and muscles in the area around the joint offer stability and support. A shoulder arthroscopy can be performed to remove inflammatory tissue as well as treat a variety of other shoulder-related medical issues. Injuries to the biceps tendon, bone spurs, and frozen shoulder are just a few of the conditions it can be used to treat. Following reverse shoulder arthroplasties, patients frequently see significant postoperative improvement in function. In the context of shoulder osteoarthritis, hemiarthroplasty, total shoulder arthroplasty (TSA), and reverse total shoulder arthroplasty (RTSA) have all been thoroughly detailed, and their use has been rising over the past ten years.
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Market Dynamics:
Drivers:
The shoulder arthroplasty market is expanding as a result of the aging population. A primary driver of market growth is the aging population, which accounts for an increase in replacement surgeries due to accidents and other causes. In addition, it is projected that the popularity of exercise and fitness programs will rise, as will the popularity of organized sports. Additionally, the market is anticipated to grow as a result of rising research and development capabilities and an increase in shoulder injuries associated to sports. Additionally, a large population and the growing number of patients with bone-related conditions are anticipated to fuel market expansion during the Projection period.
Restraints:
Government regulations and high procedure costs for shoulder arthroplasty treatments limit industry expansion. Additionally, the market's expansion is hampered by a high surgical treatment failure rate and a lack of well-established healthcare infrastructure in low-income nations. Along with a lack of cutting-edge technologies, inadequate medical reimbursement and coverage also restrain market expansion throughout the Projection period.
Opportunities:
The growing usage of automated surgical tools and the global lack of surgeons and physicians are promoting market expansion. In addition, the growing dependability of shoulder replacement devices is a key component in the market's expansion. Additionally, minimally invasive procedures provide a number of advantages, such as a reduced risk of infection, a quicker recovery time, a shorter hospital stay, fewer surgical issues, less discomfort, smaller & more cosmetic incisions, and less postoperative care. Additionally, it is anticipated that during the Projection period, regional and international businesses will increase their efforts in bringing new and technologically sophisticated surgical robots to market. Over the course of the Projection period, market growth is anticipated to be driven by technological advancements in the field of automated medical instruments, such as the combination of cameras, computing technology, high-definition 3D imaging, sensors, remote navigation technology systems, robotic controlled catheters, and other accessories used for surgical procedures. Additionally, the market is being helped expand by manufacturers' increasing use of robotic surgical equipment, ongoing investments, and R&D efforts including automated robotic techniques.
Challenges:
There are potential complications specific to traditional shoulder replacement surgery, in addition to anesthesia and infection risks: Following surgery, the rotator cuff muscles are more vulnerable to injury.
Segmentation Analysis:
The global shoulder arthroplasty market has been segmented based on indication, devices, procedure, and region.
By Indication
The indication segment is arthritis, fracture/dislocation, rotator cuff tear arthropathy, hill sachs defect, and others. The arthritis segment led the largest share of the shoulder arthroplasty market with a market share of around 40% in 2022. This development is related to the rising prevalence of many types of inflammatory arthritis, such as rheumatoid arthritis, osteoarthritis, and others.
By Device
The device segment is shoulder arthroplasty resurfacing implants, shoulder arthroplasty trauma devices, and shoulder arthroplasty platform systems. The shoulder arthroplasty trauma devices segment led the largest share of the shoulder arthroplasty market with a market share of around 47% in 2022. The improvement in outcomes for patients with osteoarthritis and inflammatory arthroplasty in developing nations is credited with this rise.
By Procedure
The procedure segment is partial shoulder arthroplasty, total shoulder arthroplasty, reverse shoulder arthroplasty, and revision shoulder arthroplasty. The reverse shoulder arthroplasty segment led the largest share of the shoulder arthroplasty market with a market share of around 56% in 2022. The effective surgery and preservation of the deltoid muscle are credited with this increase. Revision shoulder surgery, on the other hand, entails surgical replacement or reconstruction as a result of a prior shoulder arthroplasty failure or complication.
Global Shoulder Arthroplasty Market - Sales Analysis.
The sale of the shoulder arthroplasty market expanded at a CAGR of 5% from 2016 to 2022.
A prosthesis comprised of metal parts or plastic implants is used to replace the diseased or injured ball and socket joints of the shoulder during shoulder arthroplasty surgery. A thorough evaluation of the patient utilising x-rays, blood tests, bone scans, physical exams, computed tomography (CT) scans, and magnetic resonance imaging (MRI) scans is typically conducted before it is carried out. Patients with primary osteoarthritis, post-traumatic arthritis, inflammatory arthritis, proximal humeral fractures, osteonecrosis of the humeral head and neck, and pseudo paresis brought on by rotator cuff inadequacy are being treated with it. Numerous illnesses, including inflammatory arthritis, glenoid-specific osteonecrosis, and post-traumatic degenerative joint disease, can impair a patient's ability to go about their daily activities and produce shoulder pain.
Thus, one of the major causes enhancing the need for shoulder arthroplasty is a considerable increase in the population suffering from these disorders. Additionally, as the elderly population grows, shoulder arthroplasty is becoming more popular as a means of preserving the mobility and functionality of the shoulder joint. In addition, the high-force and repetitive movements needed for athletic competition can seriously fracture or harm the shoulder. This is having a favourable impact on the industry, along with people playing professional sports more frequently. Additionally, market participants are providing a wide variety of implants for shoulder reconstruction in various circumstances.
Thus, owing to the aforementioned factors, the global shoulder arthroplasty market is expected to grow at a CAGR of 7.8% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the shoulder arthroplasty market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the shoulder arthroplasty market and held a 38.4% share of the market revenue in 2022.
Global Shoulder Arthroplasty Market - Country Analysis:
Germany's shoulder arthroplasty market size was valued at USD 0.10 billion in 2022 and is expected to reach USD 0.18 billion by 2030, at a CAGR of 7.9% from 2023 to 2030. The number of elderly people worldwide is increasing at an unheard-of rate. The regional market for shoulder anthroplasty is being driven by an increase in the prevalence of proximal humerus rupture and symptomatic shoulder arthritis in the general population. The main reason for adult impairment is an increase in arthritis prevalence.
China’s shoulder arthroplasty market size was valued at USD 0.11 billion in 2022 and is expected to reach USD 0.20 billion by 2030, at a CAGR of 8.1% from 2023 to 2030. The lucrativeness of the region for shoulder replacement on a worldwide scale, especially for the implant type category, has been sparked by the expanding medical tourism due to low cost and government restrictions that support domestic enterprises in gaining an edge in the Asian medical devices industry.
India's shoulder arthroplasty market size was valued at USD 0.08 billion in 2022 and is expected to reach USD 0.14 billion by 2030, at a CAGR of 8% from 2023 to 2030. Because of the rising number of elderly people. In addition, government laws favorable to MNCs and local producers of medical devices are anticipated to fuel market expansion in this area. A further factor driving market expansion in this region during the Projection period is the growing number of government initiatives to create progressive healthcare infrastructure, which attracts foreign investment.
Key Industry Players Analysis:
To increase their market position in the global shoulder arthroplasty market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
7.8% |
Market Size |
1.45 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Indication, By Device, By Procedure, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Johnson & Johnson, Integra LifeSciences, DJO, Stryker, Smith and Nephew, Arthrex, Zimmer Biomet, Wright Medical Group, Lima, B. Braun Melsungen, and Exactech. |
By Indication |
|
By Device |
|
By Procedure |
|
Regional scope |
|
Scope of the Report
Global Shoulder Arthroplasty Market By Indication:
Global Shoulder Arthroplasty Market By Device:
Global Shoulder Arthroplasty Market By Procedure:
Global Shoulder Arthroplasty Market By Region:
Global shoulder arthroplasty market is expected to reach USD 2.44 billion by 2030.
Leading market players active in the global shoulder arthroplasty market are Johnson & Johnson, Integra LifeSciences, DJO, Stryker, Smith and Nephew, Arthrex, Zimmer Biomet, Wright Medical Group, Lima, B. Braun Melsungen, Exactech among other.
The shoulder arthroplasty market is projected to have a CAGR of 6.5%.
The shoulder arthroplasty market is expanding as a result of the aging population. A primary driver of market growth is the aging population, which accounts for an increase in replacement surgeries due to accidents and other causes. In addition, it is projected that the popularity of exercise and fitness programs will rise, as will the popularity of organized sports.
Based on the procedure, the global shoulder arthroplasty market has been segmented into partial shoulder arthroplasty, total shoulder arthroplasty, reverse shoulder arthroplasty, and revision shoulder arthroplasty.
Political Factors- The global shoulder arthroplasty market's profitability is influenced by a number of factors. Changes in tax legislation, consumer protection, employment rules, and insurance requirements are only a few political-related elements that could have an impact on the industry. For instance, an adjustment to a strategy that either takes advantage of rising government healthcare spending or accommodates declining government subsidies may be necessary in response to a change in tax rules. Changes in employment law, like the 2016 laws that changed employee overtime rules, may have a big impact on the workforce and overtime requirements.
Economical Factors- Unemployment, inflation, and interest rates are a few examples of economic issues that affect the financial performance of healthcare organizations. These changing circumstances may have an impact on the general population's purchasing power and public spending policies. For instance, if a company offers medical travel for healthcare, a high unemployment rate will make it harder for patients to travel for care. Additionally, fewer people will be able to get employment benefits if fewer people are able to work.
Social Factor- The shoulder arthroplasty market should be able to spot changes in the values, attitudes, and demographics of its various clientele. A manufacturer, for instance, should be mindful of the community it serves to avoid going against standard views or norms. The company's marketing strategy needs to take these factors into account as well. If someone uses content that shows alignment with a specific sociocultural set of beliefs/values, marketing effectiveness will increase and it will improve performance. Globalization has significantly impacted shoulder arthroplasty, enabling many people to access the best and most affordable shoulder arthroplasty.
Technological Factors- Increased R&D spending by healthcare organizations is one element promoting the growth of shoulder arthroplasty. Over the past 20 years, there has been an increase in both R&D spending and the introduction of new pharmaceuticals. For instance, investments in healthcare innovation are increasing American economic contributions and enhancing the country's standing as a pioneer in medical innovation. Investment in upcoming medical developments increased in 2018, according to the most recent IQVIA report, which demonstrates confidence in scientific innovation to solve unmet health needs. The top 15 pharmaceutical companies invested more than $100 billion in R&D in 2018, a first and a 32% increase over the previous five years, and venture capital firms committed over $23 billion in investments.
Environmental Factors- Environmental sustainability practises are advantageous for shoulder arthroplasty marketcompanies from a financial and environmental standpoint. Many businesses are now looking for environmentally sustainable construction designs, and trash disposal methods are being examined. Leadership in the area of green environmental practises is a hallmark of corporate social responsibility (CSR), which should be a significant part of any business plan. In a number of countries, the application of the closed-loop, circular economy strategy is starting to become the norm. Industries with supportive institutional structures encourage the recycling and reuse of materials.
Legal Factors- Only a handful of these include laws governing employment, antitrust, health and safety, and consumer protection. These elements could have an impact on a company's operations, expenses, and product demand. A company and a market could end abruptly if they don't follow the new rules and legal procedures governing shoulder arthroplasty. The entire strategy should consider the legal ramifications of ongoing lawsuits, HIPAA compliance, potential acquisitions, and other factors. The term "employment law" is a collective term for a range of laws that protect employees' rights, including those related to fair compensation, equality, equity, inclusion, and justice as well as health and safety.
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