The world extremity reconstruction market was $1,833 million in 2015 and is expected to reach $3,041 million by 2022, growing at a CAGR of 7.5% from 2016 to 2022. Extremity reconstruction devices are used to treat, repair, replace, or heal extremity injuries such as fractures or damage. The extremity reconstruction market covers implant devices for the shoulder, elbow, wrist, digits, foot, and ankle joints. The market is segmented based on the product type into upper extremity reconstruction devices and lower extremity reconstruction devices. The extremity reconstruction segment holds a small share in the global orthopedic market but it is expected to grow at the fastest rate during the study period. Hence, the leading companies have increased their focus on the segment to overcome the sluggish growth in the hip and knee joint reconstruction market.
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TOP INVESTMENT POCKETS
Shoulder reconstruction and ankle replacement are the potential target areas for investment by the key players in the extremity reconstruction market. Shoulder reconstruction is the highest revenue-generating segment in this market owing to rise in joint-related disorders, technological advancements such as reverse shoulder and stemless shoulder implants and large patient population. Recent developments in the market such as approval of stemless shoulder implant, Simpliciti by Wright Medical, in the U.S, increasing adoption rate of reverse shoulder implants and increasing use of natural biomaterial to improve the osseo-integration rate and the strength of bone-prosthetic bonding are expected to strengthen the market. Stemless shoulder replacement is ideal for patients with post-traumatic osteoarthritis of the shoulder and extra-articular deformities of the proximal humerus, which can make the placement of a conventional stemmed prosthesis difficult or impossible. For patients with massive irreparable rotator tear, who cannot opt for conventional total shoulder replacement, reverse shoulder replacement has emerged as a boon.
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The ankle replacement segment is expected to exhibit momentous growth in the extremity reconstruction market due to increasing adoption rate in developed economies and restoration of range of movements of the ankles. In addition, technological advancements such as three-part mobile bearing un-cemented total ankle replacement devices, growing incidences of ankle arthritis and development of less invasive techniques are further expected to propel the market. With encouraging results of pipeline products and increasing number of regulatory approvals for the total ankle replacement devices, the future for the ankle replacement market seems bright.
Increasing incidences of joint disabling diseases, trauma and sports injuriesWith improvements and advancements in healthcare facilities, there has been an increase in life expectancy across the globe. As estimated by Global Health and Ageing Report, WHO 27% of the Japanese, 16% of the American, 24% of the British, 17% of the Russian, and 14% of the Chinese population will be above 65 years of age by 2020. Due to aging, there is an increasing prevalence of joint disorders. According to the Centers of Disease Control and Prevention, with an increase in the aging population in the U.S., the number of patients suffering from arthritis is expected to increase to 78 million by the year 2040. The prevalence of osteoarthritis increases indefinitely with age, as the condition is irreversible. Cases of trauma and sports injury are also increasing. According to the National Center for Health Statistics, in 2011, 77% of all injury health care visits were for musculoskeletal injuries. Hence, the demand for extremity reconstruction devices is expected to increase globally.
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