Shoulder Replacement Market - Know the Untapped Revenue Growth Opportunities

Shoulder Replacement Market worth $2.62 Bn by 2031- Exclusive Report by InsightAce Analytic Pvt. Ltd.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Shoulder Replacement Market- (By Type (Anatomical Shoulder Prosthesis, Reverse Shoulder Prosthesis), By Procedure (Resurfacing Hemiarthroplasty, Reverse Total Shoulder Replacement, Stemmed Hemiarthroplasty, Total Shoulder Replacement), By End-User (Hospitals, Orthopedic Centers, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Shoulder Replacement Market is valued at US$ 1.55 Bn in 2022, and it is expected to reach US$ 2.62 Bn by 2031, with a CAGR of 6.10% during a forecast period of 2023-2031.
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Shoulder replacement surgery is a procedure that entails the removal or substitution of damaged portions of the shoulder with artificial components referred to as prostheses. These treatment standards typically involve replacing just the head of the humerus bone or the ball and socket. The market is experiencing growth driven by the rising prevalence of arthritis and a growing elderly population. Moreover, the market is benefiting from increased efforts by companies to develop improved devices for healing shoulder injuries. However, the increased risk of postoperative complications associated with shoulder joint procedures is a barrier to market growth.

Furthermore, there is an upsurge in manufacturer investments in emerging nations for developing shoulder arthroplasty devices, along with heightened endeavours to raise awareness about effective treatments for shoulder injuries. These elements are expected to provide lucrative opportunities for market expansion. Additionally, heightened patient awareness and willingness to regain a full range of motion and productivity further fuel market growth. Furthermore, introducing more advanced reverse total shoulder replacement components to the market, increased medical education and broader adoption of total shoulder replacement by physicians worldwide, contribute to the market's robust growth.

List of Prominent Players in the Shoulder Replacement Market:
• Arthrex
• Johnson and Johnson
• Zimmer Biomet
• Wright Medical Group
• Stryker Corporation
• Integra LifeSciences Corp
• Smith & Nephew PLC
• DJO Global Inc
• Acumed Inc
• Exactech Inc
• B. Braun Melsungen
• Lima Corp.
• DePuy Synthes
• Others

Market Dynamics:
Drivers-
there is a global increase in the number of patients diagnosed with rheumatoid arthritis, leading to a corresponding rise in the demand for shoulder replacement procedures. This growth in the patient population is expected to drive substantial expansion in the field of shoulder replacements throughout the forecast period. However, the high cost of treatment and various associated issues such as shoulder tendinitis, instability, infection, loss of sensation, and glenoid loosening act as constraints on the Global Shoulder Replacement Market during the projected period. Furthermore, the temporary suspension of all elective surgeries has restricted the opportunities for hands-on experience and exposure to a range of medical procedures. In the midst of the pandemic, many hospitals that perform surgeries have delayed the procurement of medical equipment. All these elements are likely to have a positive impact on market growth.

Challenges:
The market is hindered by the steep costs associated with shoulder arthroplasty procedures and stringent government regulations. High rates of surgical treatment failures pose an additional obstacle to market growth. In low-income countries, the need for well-developed healthcare infrastructure further impedes market expansion. Shoulder replacement surgeries can be expensive, including implants, hospital stays, and rehabilitation. This cost can be a significant barrier for some patients, especially in regions with limited healthcare coverage. While shoulder replacement implants have improved over the years, they may not last as long as other joint replacements like hips or knees. Patients may require revision surgeries as the implant wears out, which can be a limitation. Shoulder replacement surgeries can be technically challenging, and not all orthopaedic surgeons have the same expertise in performing these procedures. This can limit access to skilled surgeons in some areas.

Regional Trends:
The North American shoulder replacement market is expected to register a major market share. The United States and Canada have emerged as prominent hubs for the medical device industry, primarily due to the strong presence of major international companies in this sector. Furthermore, the ongoing advancement of healthcare systems in both countries is contributing significantly to the growth of the market. Besides, Europe had a substantial share of the market. The region benefits from government regulations that support both multinational corporations (MNCs) and local manufacturers in the medical device sector, which is anticipated to stimulate market expansion. Moreover, increasing government initiatives to enhance healthcare infrastructure attract foreign investors to invest in developing automated medical instruments, further bolstering market growth in this region.

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Recent Developments:

• In Sept. 2022, Zimmer Biomet Holdings, Inc. received 510(k) certification from the U.S. FDA for the Identity™ Shoulder System, designed to facilitate anatomic, reverse, and revision shoulder replacements. The Identity Shoulder System is a convertible device that optimizes the range of motion and pain relief by aligning the approach of each surgeon with the anatomy of a specific patient through proprietary technologies.

• In Feb 2022, Stryker unveiled its Tornier Shoulder Arthroplasty Portfolio and commenced the European release of the Tornier Perform Humeral System.

Segmentation of Shoulder Replacement Market-

By Type
• Anatomical Shoulder Prosthesis
• Reverse Shoulder Prosthesis
By Procedure
• Resurfacing Hemiarthroplasty
• Reverse Total Shoulder Replacement
• Stemmed Hemiarthroplasty
• Total Shoulder Replacement
By End-User
• Hospitals
• Orthopedic Centers
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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