Small Bone and Joint Orthopedic Devices Market Trends [2031]
Small Bone and Joint Orthopedic Devices Market Trends [2031]
Segments - Small Bone and Joint Orthopedic Devices Market by Type (Plate & Screws, Shoulder Reconstruction Devices, Foot & Ankle, Elbow Repair Devices, and Others), Application (Hand and Foot), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-5896
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Report Description
Small Bone and Joint Orthopedic Devices Market Outlook 2031
The global small bone and joint orthopedic devices market size was valued at USD 6.7 billion in 2022 and is likely to reach USD 12.1 billion by 2031, expanding at a CAGR of 8.3% during 2022 – 2031. The growth of the market is attributed to the increasing demand for orthopedic devices to cater to various bone and joint medical conditions, including musculoskeletal disorders.
Growing population of elderly individuals is leading to the high utilization of small bone and joint orthopedic devices which further boosts the market. Older adults are likely to require joint replacement surgeries, such as hip and knee replacements. These procedures often involve the use of orthopedic devices to restore mobility and alleviate pain, enhancing the need for such devices.
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As per the report released by the World Health Organization (WHO) on October 1, 2022, it has been projected that between 2015 and 2050, the percentage of the global population aged 60 and above will nearly double by increasing from 12% to 22%.
Small bone and joint orthopedic devices are specialized medical instruments designed to diagnose, treat, or support the healing of injuries and conditions. These devices are commonly used in orthopedic medicine to address issues in areas such as the fingers, toes, wrists, and ankles. Additionally, they serve been used for crucial purposes, including stabilizing fractures, promoting bone healing, and restoring joint function.
The COVID-19 pandemic hindered the market. During the pandemic, healthcare systems worldwide have shifted towards managing COVID-19 cases. This diversion of resources, including hospital staff, equipment, and budgetary allocations led to delays in elective orthopedic surgeries and reduced demand for these devices.
Artificial Intelligence (AI) Impact on Small Bone and Joint Orthopedic Devices Market
Emergence of artificial intelligence is expected to propel the market. AI-driven imaging analysis gives orthopedic specialists precise and rapid insights into bone and joint conditions. This enables earlier and effective interventions while reducing the need for extensive orthopedic procedures. AI is also facilitating the customization of orthopedic devices by analyzing patient-specific data leading to better-fitting and effective solutions.
Small Bone and Joint Orthopedic Devices Market Dynamics
Major Drivers
Increasing occurrence of degenerative disorders, including osteoporosis and arthritis is expected to propel the market. These disorders affecting the small bones and joints are becoming common among older populations. These conditions progress they lead to joint pain, instability, and fractures which require orthopedic devices such as joint implants or braces to manage these conditions.
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According to the report published by the Centers for Disease Control and Prevention on November 4, 2022, states that 4.2% of men aged 50 and over are affected by osteoporosis in the femur neck, or lumbar spine. Additionally, 18.8% of women in the same age group experience osteoporosis in the femur neck or lumbar spine.
Existing Restraints
Post-operative complications associated with small bone and joint orthopedic surgeries are expected to hinder the market. These complications, such as infections or implant failure deter patients from pursuing orthopedics interventions which further affects the market's growth.
Emerging Opportunities
Ongoing innovation in materials and technology is expected to create immense opportunities for the players competing in the market. These developments in advanced implant materials, such as titanium alloys or bioresorbable polymers are making orthopedic solutions durable and biocompatible. Additionally, the use of robotics and computer-assisted surgery is enhancing the precision and safety of orthopedic procedures further boosting the market growth.
Scope of the Small Bone and Joint Orthopedic Devices Market Report
The report on the 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 |
Details |
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Report Title |
Small Bone and Joint Orthopedic Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Plate & Screws, Shoulder Reconstruction Devices, Foot & Ankle, Elbow Repair Devices, and Others) and Application (Hand and Foot) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
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 |
Acumed LLC; Arthrex, Inc; Exactech, Inc; Flower Orthopedics Corporation; Groupe Lepine; Integra LifeSciences; Limacorporate S.p.A; Mathys Ltd Bettlach; MatOrtho Limited; Medartis AG; Medical Device Business Services, Inc; Orthofix US LLC; Smith & Nephew plc; Stryker; Tecomet, Inc; Wright Medical Group N.V; Wright Medical Group N.V; and Zimmer Biomet |
Small Bone and Joint Orthopedic Devices Market Segment Insights
Type Analysis
Based on type, the small bone and joint orthopedic devices market is divided into plate & screws, shoulder reconstruction devices, foot & ankle, elbow repair devices, and others. The shoulder reconstruction devices segment is expected to hold a major market revenue share during the forecast period due to the increasing population requiring shoulder replacement surgical procedures.
Small bone and joint orthopedic devices are important for medical surgical procedures. These devices are used to treat and restore the functionality of affected bones or joints. Moreover, the rising number of arthritis patients is further propelling the market.
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According to the report published by the Centers for Disease Control and Prevention on June 22, 2023, between 2016 and 2018 in the U.S. about 1 in 4 adults approximately 58.5 million people were diagnosed with arthritis and required orthopedic treatments.
The foot and ankle segment is anticipated to register robust growth during the forecast period owing to the increasing prevalence of diabetic foot ulcers (DFUs) and sports-related injuries. This creates a growing need for orthopedic devices to restore full functionality and mobility which further fuels the market growth.
Application Analysis
In terms of application, the small bone and joint orthopedic devices market is fragmented into hand and foot. The hand segment is expected to hold a key market share during the projected period due to the rising prevalence of musculoskeletal disorders affecting the hand, such as carpal tunnel syndrome or trigger finger.
These conditions cause discomfort and limit hand dexterity, affecting daily activities and work-related tasks. These factors further boost the demand for small bone and joint orthopedic devices to treat these disorders effectively.
The foot segment is projected to register a considerable CAGR during the forecast period due to the increasing occurrence of sports injuries. Sports injuries are often high levels of stress and impact involved in athletic pursuits affecting the foot and ankle.
This creates a growing demand for orthopedic interventions, including foot and ankle surgeries to address these injuries and restore mobility. These all factors are contributing to growing demand for the small bone and joint orthopedic devices.
Regional Outlook
In terms of region, the global small bone and joint orthopedic devices market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market due to its well-established and highly developed healthcare infrastructure with access to advanced medical facilities, surgical centers, and specialized orthopedic clinics. This comprehensive healthcare system facilitates the growing utilization of advanced orthopedic devices for bone and joint-related conditions.
The market in Asia Pacific is anticipated to expand at a rapid pace in the coming years due to the rapidly growing population, including large number of elder people. The risk of developing degenerative bone and joint conditions, such as osteoarthritis increases with the growing age.
This demographic trend results in a higher demand for orthopedic healthcare which further boosts the demand for small bone and joint replacements orthopedic devices in this region.
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According to a report published by the United States Census Bureau on June 21, 2022, stating that the population of Asia has surpassed 4.5 billion, which is over half of the world's population in 2020. The report also estimates that Asia has around 414 million people aged 65 and older, which is approximately 20% than the total population of the United States, which is 331.4 million.
Segments
The global small bone and joint orthopedic devices market has been segmented on the basis of
Type
- Plate & Screws
- Shoulder Reconstruction Devices
- Foot & Ankle
- Elbow Repair Devices
- Others
Application
- Hand
- Foot
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Acumed LLC
- Arthrex, Inc
- Exactech, Inc
- Flower Orthopedics Corporation
- Groupe Lepine
- Integra LifeSciences
- Limacorporate S.p.A
- Mathys Ltd Bettlach
- MatOrtho Limited
- Medartis AG
- Medical Device Business Services, Inc
- Orthofix US LLC
- Smith & Nephew plc
- Stryker
- Tecomet, Inc
- Wright Medical Group N.V
- Wright Medical Group N.V
- Zimmer Biomet
Competitive Landscape
Key players competing in the global small bone and joint orthopedic devices market are Acumed LLC; Arthrex, Inc; Exactech, Inc; Flower Orthopedics Corporation; Groupe Lepine; Integra LifeSciences; Limacorporate S.p.A; Mathys Ltd Bettlach; MatOrtho Limited; Medartis AG; Medical Device Business Services, Inc; Orthofix US LLC; Smith & Nephew plc; Stryker; Tecomet, Inc; Wright Medical Group N.V; Wright Medical Group N.V; and Zimmer Biomet
These companies are expanding their market share by implanting various strategies such as partnerships, acquisitions, mergers, launching new software products, and implementing advanced AI technologies.
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On May 25, 2022, Stryker, a leading provider of medical technology solutions, its newest product, the EasyFuse dynamic compression system. This foot and ankle stabilization system is made from nitinol, a nickel-titanium alloy known for its strength and rapid recovery properties. The advanced design of the EasyFuse system reduces surgical complexity and provides effective compression implants, enabling faster and more efficient recovery for patients.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Small Bone and Joint Orthopedic Devices Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Small Bone and Joint Orthopedic Devices Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Small Bone and Joint Orthopedic Devices Market - Supply Chain
4.5. Global Small Bone and Joint Orthopedic Devices Market Forecast
4.5.1. Small Bone and Joint Orthopedic Devices Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Small Bone and Joint Orthopedic Devices Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Small Bone and Joint Orthopedic Devices Market Absolute $ Opportunity
5. Global Small Bone and Joint Orthopedic Devices Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Types
5.3.1. Plate & Screws
5.3.2. Shoulder Reconstruction Devices
5.3.3. Foot & Ankle
5.3.4. Elbow Repair Devices
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Small Bone and Joint Orthopedic Devices Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Applications
6.3.1. Hand
6.3.2. Foot
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Small Bone and Joint Orthopedic Devices Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Small Bone and Joint Orthopedic Devices Demand Share Forecast, 2019-2026
8. North America Small Bone and Joint Orthopedic Devices Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Types
8.4.1. Plate & Screws
8.4.2. Shoulder Reconstruction Devices
8.4.3. Foot & Ankle
8.4.4. Elbow Repair Devices
8.4.5. Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Applications
8.7.1. Hand
8.7.2. Foot
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Small Bone and Joint Orthopedic Devices Demand Share Forecast, 2019-2026
9. Latin America Small Bone and Joint Orthopedic Devices Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Types
9.4.1. Plate & Screws
9.4.2. Shoulder Reconstruction Devices
9.4.3. Foot & Ankle
9.4.4. Elbow Repair Devices
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Applications
9.7.1. Hand
9.7.2. Foot
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Small Bone and Joint Orthopedic Devices Demand Share Forecast, 2019-2026
10. Europe Small Bone and Joint Orthopedic Devices Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Types
10.4.1. Plate & Screws
10.4.2. Shoulder Reconstruction Devices
10.4.3. Foot & Ankle
10.4.4. Elbow Repair Devices
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Applications
10.7.1. Hand
10.7.2. Foot
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Small Bone and Joint Orthopedic Devices Demand Share Forecast, 2019-2026
11. Asia Pacific Small Bone and Joint Orthopedic Devices Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Types
11.4.1. Plate & Screws
11.4.2. Shoulder Reconstruction Devices
11.4.3. Foot & Ankle
11.4.4. Elbow Repair Devices
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Applications
11.7.1. Hand
11.7.2. Foot
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Small Bone and Joint Orthopedic Devices Demand Share Forecast, 2019-2026
12. Middle East & Africa Small Bone and Joint Orthopedic Devices Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Types
12.4.1. Plate & Screws
12.4.2. Shoulder Reconstruction Devices
12.4.3. Foot & Ankle
12.4.4. Elbow Repair Devices
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Small Bone and Joint Orthopedic Devices Market Size and Volume Forecast by Applications
12.7.1. Hand
12.7.2. Foot
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Small Bone and Joint Orthopedic Devices Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Small Bone and Joint Orthopedic Devices Market: Market Share Analysis
13.2. Small Bone and Joint Orthopedic Devices Distributors and Customers
13.3. Small Bone and Joint Orthopedic Devices Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Acumed LLC
13.4.2. Arthrex, Inc
13.4.3. Exactech, Inc
13.4.4. Flower Orthopedics Corporation
13.4.5. Groupe Lepine
13.4.6. Integra LifeSciences
13.4.7. Limacorporate S.p.A
13.4.8. Mathys Ltd Bettlach
13.4.9. MatOrtho Limited
13.4.10. Medartis AG
13.4.11. Medical Device Business Services, Inc
13.4.12. Orthofix US LLC
13.4.13. Smith & Nephew plc
13.4.14. Stryker
13.4.15. Tecomet, Inc
13.4.16. Wright Medical Group N.V
13.4.17. Wright Medical Group N.V
13.4.18. Zimmer Biomet
Methodology
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