Overview

Shoulder Replacement Market is poised to value USD 3356.22 million by 2028 end at a CAGR of 6.9% during the forecast period 2022 to 2028.

Shoulder replacement surgeries are undertaken to replace glenohumeral joint partially or totally by a prosthetic implant which is made of metal components and polyethylene. The primary factors responsible for the growth of the shoulder replacement market are rising life expectancy of the population and increasing cases of arthritis owing to a sedentary lifestyle. Additionally, growing awareness regarding the availability of cost-effective treatments related to shoulder injuries stimulates market growth significantly.

Based on the type of product, the global market is bifurcated into anatomical shoulder prosthesis and reverse shoulder prosthesis. Reverse shoulder prosthesis segment will showcase competitive market growth by registering a CAGR of over 8.2% although it shall possess market share that is close to half the amount of market share anatomical shoulder prosthesis segment possesses in the North American region.

The end-user is segmented as hospitals, ambulatory surgical centres and orthopaedic clinics. The hospital segment is expected to dictate the market owing to the advanced facilities provided by the hospital infrastructure and this trend will be mainly observed in developed economies like North America and Europe.

The market is regionally bifurcated into North America, Latin America, Europe, Asia Pacific and rest of the world. Asia Pacific region is anticipated to provide profitable opportunities thus assisting market growth. The anatomical shoulder prosthesis segment is projected to witness remarkable growth with a CAGR of over 7% during the forecast period. However, the reverse shoulder prosthesis segment is expected to obtain a moderate growth rate in the region. Asia Pacific region is the hub for many medical device manufacturers. Furthermore, this region has a high healthcare expenditure which shall transform into high growth potential for not only MNCs but also local medical device manufacturers. Moreover, a rising disposable income coupled with an increase in life expectancy of the population has strengthened the market position of the Asia Pacific region. Further bolstering to the market is obtained by governmental regulations favourable to the medical device manufacturing companies, both MNCs and local manufacturers. Such initiatives have assisted in the significant proliferation of the market.

Some of the key players of the shoulder replacement market include Integra LifeSciences Corp., Zimmer Biomet, Artherex Inc., Johnson & Johnson, Wright Medical Group, Smith & Nephew Plc., Conmed Corp., DJO Global, Exactech Inc. and Evolutis.

Shoulder Replacement Market Segmentation:

By Product Type
• Anatomical Shoulder Prosthesis
• Reverse Shoulder Prosthesis

By Procedure
• Resurfacing Hemiarthroplasty
• Reverse Total Shoulder Replacement
• Stemmed Hemiarthroplasty
• Total Shoulder Replacement

By End-User
• Hospitals
• Orthopedic Centers
• Others

By Region
• North America
• Asia Pacific
• Latin America
• Europe
• Middle East and Africa

Competitive Landscape:

Tier 1 players- established companies in the market with a major market share
Tier 2 players
Emerging players which are growing rapidly
New Entrants

FutureWise Key Takeaways:

Rise in the geriatric population shall increase the number of cases related to arthritis leading to the soaring demand for shoulder replacement
Growing awareness regarding treatments available for shoulder injuries and availability of cost-effective treatments shall augment market growth especially in the emerging economies

Objectives of the Study:

To provide with an exhaustive analysis on the market by product type, by procedure, by end user and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)— North America, Asia Pacific, Europe, Latin America and Middle East and Africa
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies

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