Shoulder Replacement Market Highlights On Future Development 2031

Shoulder Replacement Market Outlook 2031

The global shoulder replacement market was valued at US$ 2.24 Bn in 2021

The global market is projected to grow at a CAGR of 6.9% from 2022 to 2031

The global shoulder replacement market is anticipated to reach more than US$ 4.1 Bn by the end of 2031

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Shoulder Replacement Market Introduction

Shoulder joint replacement is a surgical procedure that substitutes the damaged parts of the shoulder joint with implants. It is done to ease pain and improve shoulder function. Shoulder joint operations are performed either partially or completely to repair the gleno humeral joint with a prosthetic implant made of metal and polyethylene. Shoulder joint replacement has emerged as an effective treatment option for people suffering from osteoarthritis and other conditions, particularly when nonsurgical treatments have failed.

Increase in Incidence of Arthritis among Geriatric Population Driving Demand for Shoulder Replacement

The global geriatric population is rising at an unprecedented rate. Rise in prevalence of symptomatic shoulder arthritis and proximal humerus rupture among the population is propelling the global shoulder replacement market. Rise in prevalence of arthritis is the primary cause of disability among adults. The National Institute for Health and Care Research (NIHR) conducted an analysis in 2021 based on nine studies, including 6 articles about patient-reported outcomes and 529 total and 364 partial shoulder replacements (of 530 shoulder replacements). It included a national joint registry for Australia that offered 10-year follow-up on 7,651 total, 7,953 reverse total, and 1,395 partial shoulder replacements. The NIHR analysis indicated that nine in 10 shoulder joint replacements last at least ten years. This is likely to propel the global shoulder replacement market size in the next few years.

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Surge in Preference for Reverse Shoulder Arthroplasty to Fuel Global Market

Rise in the prevalence of shoulder joint disorders and increase in geriatric population are driving the demand for surgical shoulder arthroplasty procedures. Preference for reverse shoulder arthroplasty is increasing among orthopedic surgeons and patients. It is a surgical procedure in which the locations of the ball and socket in the shoulder joint are switched or reversed. The glenoid is replaced by a metal ball and the humeral head is replaced by a plastic socket.

Economic Growth in Developing Countries Bolstering Reverse Shoulder Replacement Segment

In terms of procedure, the reverse shoulder replacement segment is projected to account for more than 45% of the global shoulder replacement market share by 2031. Increase in R&D activities in the field of reverse shoulder arthroplasty technology and economic growth in developing countries are expected to propel the reverse shoulder replacement segment during the forecast period.

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Regional Outlook of Global Shoulder Replacement Market

North America dominated the global shoulder replacement market in 2021. The trend is expected to continue during the forecast period. Presence of major international medical device companies has made the U.S. and Canada the largest medical device hotspots. Furthermore, advances in healthcare system in the two counties are driving the shoulder replacement market in North America. According to World Bank 2020 data, around 16.9% of the population of the U.S. was 65 or older in 2020, and the figure is expected to rise to 22% by 2050. The number of adults with doctor-diagnosed arthritis in the country is expected to rise by 49% to reach 78.4 million (25.9% of all adults). According to a report published in March 2020 by Weinstein Legal, nearly 30 million children and adolescents participate in youth sports in the U.S. each year, which is expected to drive the demand for shoulder replacement devices in the country.

Asia Pacific has witnessed high healthcare spending in the last few years, which would translate into high growth opportunities for global and local medical device players. Rise in disposable income and increase in life expectancy have transformed Asia Pacific into a hub favorable for several industries, particularly healthcare, attracting more foreign companies to invest in the region.

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Analysis of Key Players in Global Shoulder Replacement Market

The global shoulder replacement market is fragmented, with the presence of large number of large-scale players. Several companies are investing in product portfolio expansion and mergers & acquisitions. Johnson and Johnson, DJO, Integra LifeSciences, Smith and Nephew, Stryker, Zimmer Biomet, Arthrex, Lima, Wright Medical Group, Exactech, and B. Braun Melsungen are the prominent players operating in the global shoulder replacement market.

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