The minor orthopedic implants replacement market includes implants used in shoulder, wrist, ankle and foot joints. These implants are used to restore joint function (movement), and relieve pain. Minor orthopedic replacement implants manufacturing companies develop, market and distribute orthopedic implant products for commercial use. Products are usually sold to hospitals, for use during orthopedic replacement surgery. The right type of implant is selected based on the patient and type of orthopedic replacement procedure.
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The global minor orthopedic devices market grew at a compound annual growth rate (CAGR) of 6% in 2017. This increase in the market is attributed mainly to the increased elderly population with arthritis. In 2012, the global population aged 65 years and over (elder population) was about 550 million. The elder population increased to 620 million by 2015. In many developed countries like the USA more than 50% of elders are suffering from arthritis. This increased elder population with arthritis has driven the minor orthopedic implants market. By 2021, the global minor orthopedic replacement implants market is expected to grow at a compound annual growth rate (CAGR) of 6.5%, due to various factors mentioned in TBRC’s report. The report also covers orthopedic trends in the market.
The minor orthopedic replacement implants market in North America is the largest in the world. It currently has about 65% share of the global minor orthopedic replacement implants market. The market in North America grew at a CAGR of 6% in the historic period and is expected to grow at a CAGR of 7% in the forecast period. Shoulder replacement implants was the largest segment in the minor orthopedic replacement implants market with an 85.2% share of the market.
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The minor orthopedic replacement implants market in the USA is the largest in the world. It currently has about 55% share of the global market. The market in the USA grew at a CAGR of 6% in the historic period and is expected to grow at a CAGR of 7% in the forecast period.
Top orthopedic manufacturing companies included in the report are Depuy Synthes, Write Medical Group, Zimmer Biomet, Stryker and Exactech.
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