Orthopedic Extremity Market Outlook 2031:
The global orthopedic extremity market size was valued at USD XX Billion in 2022 and is projected to reach USD XX Billion by 2031, expanding at a CAGR of 6.4% during the forecast period 2023 - 2031. The growth of the market is attributed to the increasing geriatric population worldwide and increasing expenditure by people on health. The orthopedic extremity market is expected to improve mobility for all types of orthopedic diseases.
For orthopedic conditions such as osteonecrosis of the legs, knees, and ankles, improvised implants are still in demand. The demand is expected to expand due to improved surgical techniques that are more precise.
An extremity is a body appendage that is divided into two categories: upper extremity and lower extremity. The shoulder, wrist, and hand are all part of the upper extremity, also known as upper limb. The elbows, ankles, and ankle joints, as well as the bones of the thigh, shoulder, and foot, are part of the lower extremity.
Extremity includes ligaments, nerves, veins, tendons and joints, arteries. Extremity injury can occur to anyone who is participating in athletics, stumbling, or engaging in other physical activities. Most of the serious extremity injuries include fractures, sprains, dislocations, contusions, and lacerations. Although these injuries are treated only after life-threatening injuries have been tackled, the goals of treatment remain accurate diagnosis and timely intervention procedures to achieve the best possible result.
Advances in tourniquet science, broader-spectrum antibiotics, use of negative pressure wound therapy, easier bone stabilization options, and ever-evolving reconstructive techniques have all expanded the surgeon's toolkit for salvaging critically injured limbs.
Orthopedic Extremity Market Trends, Drivers, Restraints, and Opportunities
- Increased sports related injuries, rising prevalence of obesity and bone related conditions such as osteoporosis and osteoarthritis are factors expected to drive the market growth during the forecast period.
- Increasing application of minimally invasive surgeries and pre-operative/intra-operative planning software, as well as the rising demand for reverse shoulder implants and low reimbursement pressure are projected to boost the market growth during the forecast period.
- Increased demand for innovative and efficient implants such as metal and ceramic are expected to propel the market growth.
- Increasing cases of COVID 19 has resulted in decline of orthopedic procedures worldwide this presents a major factor that can hamper the market growth.
- Lack of trained surgeons and post-surgery complications present as key challenges that can impede the market growth in the coming years.
- Increased adoption of gene therapy and tissue engineering for prevention of orthopedic disorders possess a key challenge that can hamper the market growth.
- Increased emphasis on R&D for development of minimally invasive orthopedic devices by key players of the market is projected to offer lucrative opportunities for the market players.
Scope of the Orthopedic Extremity Market Report
The report on the global orthopedic extremity market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Orthopedic Extremity Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product types (Lower Extremity Devices [Knee, Foot, Ankle, And Hip], Upper Extremity Devices [Elbow, Radius, And Shoulder], Arthroscopic Devices, Spine Orthopedic Devices [Fixation Screws, Artificial Discs, Fixation Plates, Fixation Rod/Nail, Fixation Plates, And Fixation Wires], Orthobiologics [Bone Growth Factors, Bone Cement, and Bone Graft Substitute], and Braces & Support Devices)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Acumed; Alphatec Spine; Biomet; Integra Life Sciences; Semprus Biosciences; DePuy Synthes; Conmed; Skeletal Dynamics; DIGIMED Ortho
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Orthopedic Extremity Market Segment Insights
Upper extremity devices segment is expected to account for a key share of the market
Based on product types, the orthopedic extremity market is segmented into lower extremity devices, upper extremity devices, arthroscopic devices, spine orthopedic devices, orthobiologics, and braces & support devices. The upper extremity devices segment is further sub segmented into elbow, radius, and shoulder.
The lower extremity devices segment is further sub segmented into knee, foot, ankle, and hip. The orthopedic devices segment is further sub segmented into fixation screws, artificial discs, fixation plates, fixation rod/nail, fixation plates, and fixation wires. The Orthobiologic segment is further sub segmented into bone growth factors, bone cement, and bone graft substitute.
The upper extremity devices segment is expected to account for a key share of the market during the forecast period owing to the increasing demand for shoulder replacement and technical advancements such as implant life extension, improved patient outcomes, and minimally invasive surgery.
On the other hand, the lower extremity devices segment is anticipated to expand at a rapid pace during the forecast period due to increasing prevalence of bone related conditions such as osteonecrosis, osteoporosis, osteoarthritis, and fractures.
North America is anticipated to dominate the market
On the basis of regions, the orthopedic extremity market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market at a healthy CAGR during the forecast period. The regional market growth can be attributed to increased sports injuries, increasing geriatric population worldwide and health awareness amongst the public.
Developments in orthopedic implants, such as screws and anatomic plates in trauma procedures, and biocomposite anchors, such as all-suture anchors in soft tissue reconstruction and sports medicine procedures are other factor which are propelling the growth in this region. The companies in this region are concentrating on expanding their extremities portfolio by handling a variety of anatomic locations and developing a specialist sales team.
On the other hand, Asia Pacific is expected to exhibit a rapid growth rate in the coming years owing to increasing prevalence of obesity and bone related disorders such as musculoskeletal diseases.
Segments
The global orthopedic extremity market has been segmented on the basis of
Product types
- Lower Extremity Devices
- Upper Extremity Devices
- Arthroscopic Devices
- Spine Orthopedic Devices
- Fixation Screws
- Artificial Discs
- Fixation Plates
- Fixation Rod/Nail
- Fixation Plates
- Fixation Wires
- Orthobiologics
- Bone Growth Factors
- Bone Cement
- Bone Graft Substitute
- Braces & Support Devices
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the orthopedic extremity market are Acumed; Alphatec Spine; Biomet; Integra Life Sciences; Semprus Biosciences; DePuy Synthes; Conmed; Skeletal Dynamics; and DIGIMED Ortho.
Some of the business strategies of key player in the market include innovations in treatment techniques such as robot-assisted total hip arthroplasty (THA) with higher component orientation precision.
These businesses are also involved in innovative product development by regulatory pathway specification, and surgeons are giving them positive feedback. Mergers and acquisitions in the market are likely to provide growth opportunities for key players.
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