(PharmaNewsWire.Com, January 09, 2018 ) The Global Shoulder replacement market is estimated to grow to USD 2.9 Billion in 2024 from USD 1.5 Billion in 2017 with a CAGR of 7.8% during forecast period (2018-2024). Shoulder replacement is the surgical technique in which parts of glenohumeral is substituted by a prosthetic implant. The major factors for raising the market of global shoulder replacement are raising number of surgeries, increasing focus on cost efficiency, raising life expectancy of the population and transparency of data.
Anatomical shoulder prosthesis segment has the largest market share
The implant type of shoulder replacement is segmented into reverse shoulder prosthesis and anatomical shoulder prosthesis. Among these, anatomical shoulder prosthesis segment has the largest share as they reduce the pain after the surgery. The shoulder replacement technique is also used in primary osteoarthritis, shoulder arthristis, avascular necrosis, rotator cuff tear arthropathy and proximal humerus fracture.
Hospital segment dominates the share of shoulder replacement market
The global shoulder replacement is done in various areas such as orthopaedic clinic, hospitals and ambulatory surgical centres. Hospitals hold the largest market share as the large equipment and advanced technologies are used in hospitals so the people are approaching mostly to the hospitals. This is the major reason to drive the market in hospital segment.
North America is expected to dominate the shoulder replacement market share in the forecast period
North America holds the predominant market share in the forecast period due to the rising number of surgeries, increasing disposable income and transparency of data are the major reasons to drive the market in North America. The market of shoulder replacement is also increasing rapidly in Asia Pacific, Europe, Latin America and Middle East regions.
The crucial players in the shoulder replacement market are Arthrex Inc., Djo Surgical, Depuy Synthes, Smith & Nephew, Wright Medical Group, Limacorporate S.P.A, Medtronic Spinal, NuVasive Inc., Globus Medical.
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