Shoulder Arthroplasty Market size in 2019 is estimated to be $1.35 billion, growing at a CAGR of 7.7% during the forecast period 2020-2025. Shoulder arthroplasty is a surgical procedure that is performed to treat or restore the comfort and function to the arthritic shoulder. Shoulder replacement replaces the prosthetic implant totally or part of the glenohumeral joint. Shoulder arthroplasty helps to treat subscapularis which are critical part of shoulder and provides proper fixation of glenoid cavity to prevent loosening of shoulder. Increasing incidence of arthritis disorders and technological advancement are the major factors driving the growth of the market. Moreover, growing geriatric population, growing healthcare expenditure and rise in awareness towards shoulder arthroplasties further enhance the demand for Shoulder Arthroplasty during the forecast period 2020-2025.
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Procedure – Segment Analysis
Based on the procedure, Shoulder Arthroplasty Market is segmented into partial shoulder arthroplasty, total shoulder arthroplasty, revision shoulder arthroplasty, reverse shoulder arthroplasty. Reverse shoulder arthroplasty is forecast to be the fastest-growing segment and is estimated to grow at a CAGR of 6.3% during the forecast period 2020-2025. This is mainly owing to preserving deltoid muscle and successful surgery. Moreover, it improves joint range of shoulder motion that are contributing the growth of this segment.
End-User – Segment Analysis
Based on the end-user, Shoulder Arthroplasty Market is segmented into hospitals, ambulatory surgical centers, Orthopedic Clinics and Others. In 2019, hospital held the largest share in the shoulder arthroplasty market. Growing demand for efficient and effective surgery with shorter recovery time and reduced hospital stay are key factors driving the growth of this segment. The availability of advanced technologies and demand for surgical procedure is also contributing to the growth of this segment.
Geography – Segment Analysis
North America dominated the shoulder arthroplasty market share accounting for 38% of the market in 2019. This is mainly owing to the development in various orthopedic surgical devices and growth in implant products. According to Agency for Healthcare Research and Quality, about 53,000 people in the United States have shoulder replacement Surgery every year. Patients with bone-on-bone contact, where the cartilage within the joint has eroded to injury are good candidates for shoulder replacement surgery. According to American Academy of Orthopedic Surgeons, about 93% of patients satisfied with this surgery.
However, the Asia-Pacific region is forecast to be the fastest-growing during the forecast period 2020-2025. This is owing to the rise in geriatric population and increase in healthcare expenditure.
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Drivers – Shoulder Arthroplasty Market
Increasing incidence of arthritis disorders such as osteoarthritis, rheumatoid arthritis and growing geriatric population are some factors driving the growth of Shoulder Arthroplasty Market. Osteoarthritis are commonly affected in shoulder and knees. Moreover, rising awareness of patient safety and growing orthopedic centers are also set to increase the market growth.
Technological Advancements and increase knowledge of surgical techniques are some factors driving the growth of the market. Moreover, technological evolution in the medical industry has given rise to a number of surgeries in shoulder and increasing awareness towards treatment further contributing the growth of this market.
Challenges – Shoulder Arthroplasty Market
The high cost of shoulder arthroplasty devices are challenging the growth of the market. Moreover, the lack of skilled healthcare workers and unavailability of proper healthcare infrastructure are further restraining the growth of the market. Moreover, complications associated with shoulder arthroplasties restraining its market growth during the forecast period 2020-2025.
Shoulder Arthroplasty Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Shoulder Arthroplasty Market. Shoulder Arthroplasty top 10 companies are Wright Medical Group Inc., Integra Lifesciences Holding Corporation, Zimmer Biomet Holdings Inc., Smith & Nephew PLC, Arthrex Inc., Conmed Corporation, DJO Global Inc., Stryker Corporation and Exactech Inc.
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