Minor Orthopedic Implants Market Insights As Per TBRC’s Latest Report
Added: (Wed Jan 02 2019)
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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 trends show that the orthopedic devices market grew from $1,300 million in 2013 to around $1,650 million in 2017 at a compound annual growth rate (CAGR) of around 6%.
The minor orthopedic implants replacement global market is segmented into Shoulder Replacement Implants, Wrist Replacement Implants, Elbow Replacement Implants, and Foot & Ankle Replacement Implants.
Shoulder Replacement Implants- Shoulder joint are ball-and-socket joints comprising three bones. These bones are the humerus (upper arm bone), the scapula (shoulder blade), and the clavicle (collarbone). The humerus head fits into the glenoid socket (part of the collar). Degenerative diseases such as arthritis cause joints to lose the cartilage covering, thereby increasing the friction between shoulder bones (humerus and glenoid socket) during movement. Shoulder replacement implants was the largest segment in the minor orthopedic replacement implants market, with nearly 85% share of the market, worth around $1,500 million.
Wrist Replacement Implants was the smallest segment with less than 0.5% share of the market in 2017.
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The biggest country to have the largest orthopedic devices market is the US orthopedic market, which currently has about more than 50% share of the global minor orthopedic replacement implants market. The market in the USA grew at a CAGR of more than 6% in the historic period and is expected to grow at a CAGR of about 7% in the forecast period.
Orthopedic manufacturing companies included in the report are Depuy Synthes, Write Medical Group, Zimmer Biomet, Stryker and Exactech. Out of these, the top orthopedic device companies include Depuy Synthes and Write Medical Group.
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