Although one of the smallest in terms of revenue, the market for small joint replacement implants again displayed the fastest growth among all categories of orthopedic devices in 2017. GlobalData’s research found that the global market for small joint replacement implants—implants for the ankle, digits, elbow, shoulder, and wrist—will expand from $1,516.3M in 2016 to $2,388.5M in 2025 at a Compound Annual Growth Rate (CAGR) of 5.8%.

Just like the more established and heavily adopted hip and knee replacement implants, small joint implants are used to replace a damaged joint in order to relieve pain and restore patient function. Driven by the growing global aging population and the widespread success of hip and knee implants, small joint implants are receiving increased attention from physicians and patients alike. Implants for the ankle and shoulder are expected to drive this market’s growth through 2025 as technological advancements contribute to improved implant design and awareness continues to grow worldwide.

The markets for wrist, elbow, and digits replacement, on the other hand, are not expected to experience high rates of growth. Rather, slow to moderate growth in these spaces will be driven by the growing patient pool and continued physician education efforts. Wrist and elbow joints are particularly difficult to model, and current implant fixation is lacking in these joints. Although R&D efforts are needed to improve the available implant selection, most manufacturers are hesitant to invest the immense financial and manpower resources necessary to create a new device when the payoff could potentially be very low. Therefore, GlobalData expects little movement among the top players in these markets. Companies are more likely to seek acquisitions than develop new market entrants, and established players in the space will seek to expand product offerings while simultaneously utilizing their existing resources to educate surgeons on new products.

For more insight and data, visit the GlobalData Report Store – Medical Device Network is part of GlobalData Plc.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.