Rockville, Jan. 04, 2023 (GLOBE NEWSWIRE) -- As per this latest industry analysis by Fact.MR, a market research and competitive intelligence provider, the global shoulder arthroplasty market is valued at US$ 1.57 billion in 2023 and is predicted to expand at a CAGR of 4% from 2023 to 2033.
A surgical procedure called shoulder arthroplasty is used to treat or improve the comfort and functionality of an arthritic shoulder. A shoulder replacement procedure replaces the glenohumeral joint entirely or in part with a prosthetic implant. The subscapularis, a vital component of the shoulder, can be treated with shoulder arthroplasty, which also offers adequate stabilization of the glenoid cavity to prevent the loosening of the shoulder.
The market is expanding primarily due to rising cases of arthritic illnesses and technological advancements in products. Furthermore, the rapidly ageing population, rising healthcare costs, and increasing awareness of shoulder arthroplasties are boosting demand for these devices and treatment procedures.
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North America dominates the global market due to rising demand for shoulder replacement therapies and the presence of key market players in the region.
Key Takeaways from Market Study
- The global shoulder arthroplasty market is projected to reach US$ 2.32 billion by 2033.
- Germany’s market is predicted to expand at a CAGR of 2% during the forecast period.
- Demand for shoulder arthroplasty devices in China is expected to rise at a CAGR of 8% during the forecast period.
- Demand for partial shoulder arthroplasty is predicted to increase at a high CAGR of 5% from 2023 to 2033.
“Rising cases of reverse shoulder arthroplasty and rapidly developing healthcare systems worldwide are driving market growth,” says a Fact.MR analyst.
Key Segments of Shoulder Arthroplasty Industry Research
- By Procedure :
- Partial
- Total
- Revision
- By Device :
- Resurfacing Implants
- Trauma Devices
- Platform Systems
- By Indication :
- Arthritis
- Fracture/Dislocation
- Rotator Cuff Tear Arthropathy
- Hill Sachs Defect
- End User :
- Hospitals
- Clinics
- Outpatient Surgical Centers
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Winning Strategy
Rising agreements for product launches and commercialization among the major manufacturers and other businesses are driving sales growth.
- A two-year guarantee for total hip, knee, and shoulder replacement procedures was announced by Geisinger Health and Medacta the major orthopedics firms, in August 2021. All patients who are covered by a qualifying Geisinger Health Plan and continue to get treatment from a Geisinger clinician are covered by the guarantee.
- Stryker stated in January 2022 that it had reached a binding merger agreement to buy all of the issued and outstanding Vocera Communications common stock.
Competitive Landscape
The market is moderately competitive with the presence of local as well as international players.
To increase their market share, a majority of the key players in the shoulder arthroplasty market are concentrating on their expansion into developing nations. Additionally, several businesses are launching new products, which are assisting them in sustaining their presence in the worldwide market.
- Smith+Nephew introduces new total ankle and total shoulder replacement technologies in August 2021, and during the American Academy of Orthopaedic Surgeons 2021 Annual Meeting in San Diego, the company showcased its recently enlarged extremities portfolio.
- Stryker unveiled the Tornier shoulder arthroplasty portfolio and a fresh Tornier Perform Humeral System in July 2021.
Key Companies Profiled
- ConMed Corporation
- DePuy Synthes
- Integra Lifesciences Corporation
- Limacorporate S.p.A.
- Smith & Nephew PLC
- Wright Medical Group NV
- Zimmer Biomet Holdings, Inc.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global shoulder arthroplasty market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market on the basis of procedure (partial shoulder arthroplasty, total shoulder arthroplasty, revision shoulder arthroplasty), device (shoulder arthroplasty resurfacing implants, shoulder arthroplasty trauma devices, shoulder arthroplasty platform systems), and indication (arthritis, fracture/dislocation, rotator cuff tear arthropathy, Hill Sachs defect), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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