Shoulder Replacement Market to Register Steady Growth During 2017 - 2027

Market Research Reports Search Engine (MRRSE) has added a new research study titled “Global Market Study on Shoulder Replacement: Anatomical Shoulder Prosthesis Segment Projected to be the Most Lucrative Implant Type” to its vast database of reports. The global shoulder replacement market is estimated to grow at a CAGR of 7.8% during the period of forecast, 2017 to 2025 and is anticipated to be valued at US$ 2898.2 Mn by the end of 2025.

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Anatomical Shoulder Prosthesis to show dominance

The global shoulder replacement market by implant type is segmented into anatomical shoulder prosthesis and reverse shoulder prosthesis. The anatomical shoulder prosthesis segment is anticipated to grow at an exponential growth rate and is poised to register a CAGR of 8.1% throughout the period of forecast. The anatomical shoulder prosthesis segment dominates the global market by reflecting a market value of about US$ 1 Bn in 2017 and is estimated to reach a value of about US$ 2 Bn by the end of 2025 with a market share of about 69%; thereby dominating the global shoulder replacement market by implant type.

North America to remain a more lucrative region

North America is projected to show higher lucrativeness in the global shoulder replacement market with respect to implant type. The anatomical shoulder prosthesis segment is expected to remain the most dominating segment in the North America shoulder replacement market and is poised to register a CAGR of 8.8% during the period of forecast, reflecting an incremental opportunity of US$ 423.9 Mn between 2017 and 2025. Reverse shoulder prosthesis segment by implant type also shows competitive growth rising at a CAGR of 8.6%; however, possesses a market share that is almost half of the anatomical shoulder prosthesis segment’s market share by revenue. The anatomical shoulder prosthesis segment shows a market attractiveness index of 1.3 in the North America region.

Drivers impacting the global shoulder replacement market

Increase in the number of surgeries due to advancements in technology
The rising popularity and success of reverse total shoulder arthroplasty for rotator cuff arthropathy
Increasing medical infrastructure and medical facilities
The change in methodology of purchasing low cost and low quality products has changed; high quality given preference
Several international collaborations have expanded the domestic reach
Increase in the number of medical tourists due to the rising medical tourism sector
Increased focus on cost efficiency in both developing and developed economies
Technologically advanced products substituting traditional devices resulting in reduced patient outcomes and reduced surgical time
Alliance formation for better knowledge exchange
Utilization of robotics in surgeries to avoid severe complications
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Asia Pacific to position itself as an opportunistic region

After North America, Asia Pacific (APAC) is expected to be the most opportunistic region favorable for the shoulder prosthesis market by implant type. The anatomical shoulder prosthesis segment is anticipated to register a robust growth rate and is poised to grow at a CAGR of 7.9% throughout the period of forecast in the Asia Pacific region. The reverse shoulder prosthesis segment however, shows moderate growth in this region. This trend is expected to continue during the period of 2017 to 2025 owing to various aspects that favor the global shoulder replacement market in the APAC region. This region is a hot spot for several medical device manufacturers. Asia Pacific also shows higher healthcare spending that will transform into high growth potential for many MNCs as well as local medical device players. Moreover, the increasing life expectancy of the people in the region along with rising disposable income has transformed Asia Pacific into a hub favorable for several industries, especially healthcare, thereby attracting more foreign companies to invest in this opportunity filled region. The rising medical tourism owing to low cost and government regulations that assist domestic companies in gaining edge in the Asian medical devices market has spurred the lucrativeness of the APAC region for shoulder replacement on a global scale, especially for the implant type category.

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