Shoulder arthroplasty or shoulder replacement is a surgical procedure, which assists in the replacement of damaged ball and socket joint located in the shoulder. This is done using a prosthesis, usually consists of polythene and metal components.
Shoulder arthroplasty has become a preferred modality of surgeons for the treatment of osteoarthritis, rheumatoid arthritis, and osteonecrosis, as these procedures have yielded significant and reproducible results. Large-scale adoption of total shoulder arthroplasty procedures for the treatment of people suffering from arthritis has highly contributed to the market growth.
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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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Increase in prevalence of shoulder arthritis and rise in geriatric population worldwide drive the growth of the global shoulder arthroplasty market. In addition, rise in awareness towards shoulder arthroplasties and advancements in the surgical techniques supplement the market growth. However, increase in risk of postoperative complications, such as neurologic injury and hematoma, hampers the market growth. Conversely, rise in investments by the key players to manufacture shoulder arthroplasty devices in the developing economies is expected to offer lucrative opportunities for the market growth.
The global shoulder arthroplasty market was valued at $1,080 million in 2021, and is expected to reach $1,814 million by 2026 registering a CAGR of 7.6% from 2021 to 2027.
The shoulder arthroplasty market is segmented based on procedure, device, indication, end user, and region. On the basis of procedure, the market is divided into partial shoulder arthroplasty, total shoulder arthroplasty, and revision shoulder arthroplasty. By device, it is categorized into shoulder arthroplasty resurfacing implants, shoulder arthroplasty trauma devices, and shoulder arthroplasty platform systems. Depending on indication, it is classified into arthritis, fracture/dislocation, rotator cuff tear arthropathy, Hill Sachs defect, and other. As per end user, it is fragmented into hospitals & clinics and outpatient surgical centers. Regionally, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The total shoulder arthroplasty (TSA) segment accounted for the highest share in the global shoulder arthroplasty market in 2021, and is anticipated to register a highest CAGR of 9.2% from 2021 to 2026. This is attributed to increase in adoption of total reverse shoulder arthroplasty.
In addition, shoulder arthroplasties are majorly performed in hospitals and clinics, and thus this segment generated the highest revenue. In the recent years, Asia-Pacific witnessed rapid growth in the shoulder arthroplasties market, owing to steady increase in the population suffering from various forms of arthritis. Moreover, increase in investments by the key players of Japan and India to develop shoulder arthroplasty devices is projected to offer lucrative opportunities for the expansion of the market.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global shoulder arthroplasty market with the current trends and future estimations to elucidate the imminent investment pockets.
Comprehensive analysis of the factors that drive and restrict the market growth is provided.
Comprehensive quantitative analysis of the industry is provided from 2016 to 2023 to assist stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the key segments of the industry helps to understand the trends in shoulder arthroplasty devices and procedures performed globally.
Key players and their strategies are provided to understand the competitive outlook of the industry.
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KEY MARKET SEGMENTS
Partial Shoulder Arthroplasty
Total Shoulder Arthroplasty
Revision Shoulder Arthroplasty
Shoulder Arthroplasty Resurfacing Implants
Shoulder Arthroplasty Trauma Devices
Shoulder Arthroplasty Platform Systems
Other Inflammatory Arthritis
Rotator Cuff Tear Arthropathy
Hill Sachs Defect
By End User
Hospitals & Clinics
Outpatient Surgical Centers
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Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
KEY MARKET PLAYERS
Wright Medical Group, Inc. /Tornier Inc.
Integra LifeSciences Corporation
Johnson & Johnson (DePuy Synthes)
Smith and Nephew Plc.
The other players in the value chain include (profiles not included in the report)
BioTek Instruments, Inc.
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This market report shows the projected market size for the pain management devices market at the end of the forecast period. The report also examines the historical and current market sizes.
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