Global Upper Extremities Market 2017-2021

Overview of the global upper extremities market

Technavio’s market research analyst predicts the global upper extremities market to grow steadily at a CAGR of around 7% by 2021. One of the primary drivers for this market is the gradual rise in the incidence of accidental injuries. It has been observed that the cases of injuries especially road traffic injuries are increasing over the last decade. Consequently, road accidents can lead to injury in upper extremity regions, which requires bone repair products to fix it. Another significant cause of injury in upper extremity is observed in sports injuries. Sports injuries can lead to injury in the hand and wrist, which involve complex treatment procedures as it involves both the skeleton and soft tissues. It can lead to a complex tear in the dorsal and palmar radioulnar ligaments and fracture in the carpel, which are common sports injuries. Such growing incidences of accidental injuries (road accidents and sports injuries) can increase the need for upper extremity products such as bone repair and soft tissue fixation devices, which in turn will propel the growth of the global upper extremities market during the forecast period.

In terms of geography, Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. Increasing number of fractures, osteoporosis and increased adoption of reverse shoulder arthroplasty procedures are the key factors responsible for the growth of the upper extremities market in the region. The US alone accounted for almost one-third of the unit sales of upper extremity products, followed by Canada and Mexico; this is due to the wide range of products available, high consumer awareness, and the presence of international brands providing innovative products. Rising awareness among the population along with the increasing number of surgeons in this market is expected to drive the demand for upper extremity products in the region during the next four years.

Competitive landscape and key vendors

The global upper extremities market is highly fragmented due to the presence of several large, medium, and small companies. The presence of companies that develop braces and supporting systems and accessories will further intensify the competition. Vendors mainly compete on the basis of pricing, product differentiation, capital support for product or technology upgrading, and distribution partnerships.

Leading vendors in the market are –

• DePuy Synthes
• Stryker
• Wright Medical
• Zimmer-Biomet

Other prominent vendors in the upper extremities market include Acumed, Arthrex, Avitus Orthopaedics, Biotech Limb and Brace, Bioservo Technologies, Bioventus, Bone Therapeutics, Bone Biologics, Ceramisys, CONMED, CollPlant, DJO Global, Evolutis, Exactech, FH Orthopedics, FX Solutions, Graftys, ICONACY Orthopedic Implants, Integra LifeSciences, implantcast, ISTO Technologies, Lima Corporate, Medtronic, Merete Group, Myomo, NovaBone, Össur, OsteoMed, Orthofix, Orthogem, Promedics Orthopaedic, Regenexx, RTI Surgical, Sigma Graft, Silver Bullet Therapeutics, Skeletal Dynamics, Smith & Nephew, Stanmore Implants, Surgical Appliance Industries, TriMed, and Xtant Medical.

Segmentation by procedures and analysis of the upper extremities market

• Joint replacement and fractures
• Nerve diseases and soft tissue injuries

During 2016, the joint replacement and fractures segment dominated the market in terms of procedures and accounted for a major part of the overall market share. The high number of cases in damage to the bone owing to arthritis, bone degeneration, and accidents can lead to fractures and injuries. For the treatment, joint replacement surgeries are performed, which can relieve the pain, improve joint motion, and strengthen the bone by stabilizing it.

Segmentation by end-users and analysis of the upper extremities market

• Hospitals and clinics
• ASCs

In this market study, analysts have estimated the hospitals and clinics segment to dominate the upper extremities market during the forecast period. This dominance is primarily due to the capability of hospitals to procure medical products and consumables in bulk and engage closely with many suppliers, reimbursement authorities, and government organizations. Also, they have an advanced medical infrastructure to cater to the needs of the people.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global upper extremities market?
• What are the key market trends impacting the growth of the global upper extremities market?
• What are the challenges to market growth?
• Who are the key vendors in the global upper extremities market?
• What are the market opportunities and threats faced by the vendors in the global upper extremities market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global upper extremities market?

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