Market Dynamics

Gradual increase in number of patients suffering from chronic osteoporosis and arthritis and increasing government spending on development of healthcare sector in order to facilitate the adoption of advanced device are major factors expected to drive the growth of global market.

According to U.S. Department of Health & Human Services in the United States, 23% of all adults, or more than 54 million people have arthritis. It is a leading cause of work disability. The annual direct medical costs are at least US$ 140 billion.

According to International Osteoporosis Foundation, Worldwide, osteoporosis causes more than 8.9 million fractures annually, resulting in an osteoporotic fracture every 3 seconds. Osteoporosis is estimated to affect 200 million women worldwide - approximately one-tenth of women aged 60, one-fifth of women aged 70, two-fifths of women aged 80 and two-thirds of women aged 90.

Substantial increase in number of inpatient related to road accidents resulting in demand for critical surgeries such as wrist, elbow, shoulder, etc. is expected to support the growth of target market. The National Highway Traffic Safety Administration reported an estimated 36,120 people died in motor vehicle traffic crashes in 2019, down 1.2% from 36,560 in 2018, even as travel rose 0.9% to 3.23 trillion miles.

Rising medical tourism in developing countries, increasing government expenditure on development of hospital infrastructure for the adoption of advanced medical devices, along with availability of favorable reimbursement policies are factors expected to impact the growth of target market.

Business development activities by major players in order Ito enhance the business presence and increase the customer base through strategic merger and acquisition is expected to augment the growth of target market.

In 2019, Smith & Nephew medical equipment manufacturing company acquired Brainlab Orthopaedic Joint Reconstruction Business with the focus to introduce robotics in foot and ankle surgery. This is expected to help the company to enhance the business presence and increase the product portfolio

In 2018, Stryker Corporation a medical technologies firm launched Stryker F1 a small bone power system for surgical procedures. The product offers balanced, cordless, and lightweight solution during critical procedures helping the company to attract new customers.

In 2017, Paragon 28, Inc. an orthopedic foot and ankle company launched Gorilla Lateral Column Plating System that help surgeons in the stabilization, fusion and fixation of the lateral column.

Increasing number of sports injuries is resulting in demand for surgeries related to ankle and toe is another factor expected to positively impact the growth of global small bone and joint devices market.

However, factors such as high cost of devices and stringent government regulation related to product approval are expected to hamper the growth of global small bone and joint devices market. In lack of advanced infrastructure for adoption of advanced devices in developing countries is expected to challenge the growth of target market.

Raid technological advancements by major players, high investment for R&D activities and introduction of low cost devices are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnerships between regional and international players is expected to support the revenue growth of target market.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to increasing number of people suffering from chronic illness. In addition, availability of advanced infrastructure for R&D activities, high spending by major players for product development, along with introduction of innovative solution are factors expected to support the growth of target market. Moreover, rise in number of inpatients in hospitals related to road accidents and availability of favorable reimbursement policies will also drive the market.

Competitive Landscape                                                                                  

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Small Bone and Joint Devices Market Segment Analysis, 2019

The global market is segmented in to type, application and end use. The type segment is further bifurcated into shoulder reconstruction devices, elbow repair devices, foot and ankle, plate and screws, and others. Among the type the shoulder reconstruction devices is expected to account for major revenue share in target segment.

The application segment is divided in to foot and hand and the hand segment is expected to account for major revenue share in the target market.

The players profiled in the report are Acumed, LLC, Arthrex, Inc., Depuy Synthes, Smith & Nephew plc, DJO Global Inc., Flower Orthopedics, Stryker Corporation, Wright Medical Group, Zimmer Biomet Holdings, Inc., and Tecomet Inc.

Market Segmentation

Market By Type

Shoulder Reconstruction Devices

Elbow Repair Devices

Foot and Ankle

Plate and Screws

Others

Market By Application

Foot

• Ankle
• Toe

Hand

• Thumb
• Wrist
• Elbow
• Shoulder
• Others
  
  

Market By End User

Hospitals

Home Care Settings

Others

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa