Global extremity devices market will be worth $2.0bn by 2016

Wednesday 25 April 2012, Amsterdam

A new report predicts that the global extremity devices market will be worth $2.0bn by 2016. The market generated sales of $1.1bn in 2010, according to World Market for Orthopaedic Extremity Devices 2012-2022, published in April 2012.

The orthopaedics sector of medical devices market has witnessed growth in recent years, driven by segments such as artificial joint replacement and orthobiologics. Artificial joint replacement procedures are commonly performed across the globe for treatment of degenerative joint diseases such as osteoarthritis and rheumatoid arthritis. The fastest growing segment within the artificial joint replacement market is the extremity implants market. Traditionally the large joints of the knee and hip have been replaced commonly; however, the replacement of extremity joints of the shoulder, ankle, elbow, wrist and digits is witnessing growth.

The primary factor driving growth in the extremity devices market will be the globally aging patient population and the increased incidence in conditions such as osteoarthritis and rheumatoid arthritis. Historically, orthopaedic surgery was limited to metal or screw implants to repair or correct fractured or damaged bones. Technological advancements in the field of extremity implants have seen innovations such as reverse shoulders and mobile bearing ankles that help repair the joint condition and improve mobility for patients. Device manufacturers are also developing new implant materials that have better safety profile. This trend in technological advancements will continue during the forecast period and will also be a key factor that will sustain growth of the extremity devices market.

Rupali Vadhera, healthcare industry analyst, says: “A worldwide aging population is triggering a rise in the incidence of age related disorders such as arthritis and osteoporosis. The increase in these conditions is being further compounded by the escalating levels of worldwide obesity (owing to the extra pressure placed on hips, ankle and knee joints) amongst the population which has now reached epidemic proportions. In addition, an increase in demand for surgical procedures that offer improved comfort and active lifestyle will further drive growth of this market.”

This new report predicts that the extremity devices market will grow rapidly to 2022. The future of the market appears promising and has significant potential for growth and investment with the increasing demand for joint replacement procedures.