The extremity reconstruction products are implantable devices for wrist, elbow, shoulder, ankle, and foot. The musculoskeletal system of human beings is composed of muscles, bones, and joints. These bones are attached to each other at a joint, with the help of tendons and ligaments, to facilitate body movements. However, the cartilage starts deteriorating due to normal wear and tear with the passing years, which leads to many joint problems. The most common type of joint disorder is arthritis, which affects hands, knees, hips, and spine. Rheumatoid arthritis (RA) is the second most common of type of chronic condition, which leads to cartilage damage. Moreover, its prevalence increases with the age and it is projected to occur in almost 2.2% of the population aged more than 55 years.
The global extremities market is projected to witness tremendous growth during the forecast period. This high growth can be attributed to a number factors such as rise in number of joint disorders such as rheumatoid arthritis and osteoarthritis, increase in number of lifestyle related problems (such as diabetes and obesity) leading to joint disorders, growing elderly population, increased adoption of advanced products (such as reverse shoulder), and growing demand for minimal invasive procedures. Moreover, increased awareness about advanced treatment options coupled with rise in need for increasing standard of living and quality of life will further stimulate the market growth. However, stringent approval process and high cost of extremity reconstruction procedures coupled with complications related to these surgeries will hamper the market growth during the forecast period.
The global population is aging rapidly. Almost every country is experiencing growth in the number and proportion of older people in their population. For instance, the global share of older people increased from 9.2% in 1990 to 11.7% in 2013 and will reach 21.1% by 2050. Moreover, the number of older people is projected to reach 2 billion in 2050 from 841 million people in 2013 (Source: United Nations Department of Economic and Social Affairs)
Elderly people are more susceptible to joint disorders such as arthritis. Arthritis is one of the most common joint disorders in persons aged 65 years and above. According to a study conducted by Arthritis Foundation, currently more than 50 million adult Americans have arthritis and this number is expected to increase to 67 million by 2030 whereas around 300,000 children have arthritis or some other form of rheumatic diseases. The risk of arthritis is more prevalent in women than men. Thus, the rapidly aging population will accelerate the demand for extremity reconstruction procedures in near future. Such high target population will bring in ample growth opportunities for the development of advanced products, which can be implanted through minimal invasive surgeries.
In addition to this, the rising number of surgical procedures conducted for the treatment of these joint disorders is set to propel the market growth. As per the Centers for Disease Control and Prevention (CDC) estimates, in the U.S., almost 65,000 shoulder replacement surgeries were performed in 2012. Moreover, the National Institute of Health states that there has been an increase of 393% in the number of surgeries performed related to total shoulder arthroplasty from 2001 to 2010.
Moreover, increased focus of key players on the development of innovative extremity fixation technologies to meet the unmet medical needs will further propel the market growth. For instance, in June 2012, Integra LifeSciences Holdings Corporation launched Integra IPP-ON PIP Fusion System for the treatment of PIP (proximal interphalangeal) joint arthrodesis. Likewise, in January 2017, Orthofix International N.V. introduced JuniOrtho, an advanced product for extremity fixation in pediatrics. Such product developments help them to strengthen their extremity reconstruction portfolio and sustain their leading position in the market.
Major players operating in this market are CONMED Corporation, Johnson & Johnson, Zimmer Biomet Holdings, Inc., Wright Medical Group N.V., Acumed, Inc., Smith & Nephew plc, Arthrex, Inc., Integra Lifesciences Holdings Corporation, Skeletal Dynamics LLC, and Stryker Corporation.
Extremities Market Segmentation:
- Hand & Wrist
- Partial Shoulder Replacement
- Total Standard Replacement
- Stemless Total Shoulder Replacement
- Total Reverse Replacement
- Ankle Replacement
- Ankle Fusion
- Hind foot Fusion
- Other Fusions
- Natural Biomaterial
- Polymeric Biomaterial
- Metallic Biomaterial
- Ceramic Biomaterial
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- South Africa
- Saudi Arabia
- United Arab Emirates
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
Data Collection Matrix
Primary Data Sources
- Distributors & Wholesalers
- Healthcare Providers
Secondary Data Sources
- Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
- Government/Associations Publications
- Case Studies
- Reference Customers
Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Quantitative Data (2017-2025)
- Market Dynamics (Drivers, Restraints, and Challenges)
- Industry Trend Analysis
- Market Opportunities
- Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
- Porter’s Five Forces and PESTLE Analysis
- Key Developments and Competitive Landscape
- Market Assessment and Forecast
- Market Assessment and Forecast, By Product
- Market Assessment and Forecast, By Technology
- Market Assessment and Forecast, By Application
- Market Assessment and Forecast, By End User
- Market Assessment and Forecast, By Region/Country