The company’s latest report states that key growth drivers include the increasing aging population and rising prevalence of arthritis, expanded indications for reverse shoulder replacement, patient preference for an active lifestyle, and the sustained popularity of shoulder-intensive sports.
“While extremity implants have been available for more than three decades, recent trends have been to update historic devices with improved materials and function. Novel implants focus on recreating patient anatomy and joint function to develop a motion-retaining and uninhibited replacement option to meet the needs of an aging global population with an active lifestyle," explained Tobe Madu, MSc, healthcare analyst for GlobalData. “In particular, modern shoulder replacement implants are making an impact on the market. Trends in recent years have moved away from total shoulder replacement into reverse shoulder replacement, as indications for the latter have expanded beyond rotator cuff arthropathies.”
As well as expanded indications and the popularity of reverse shoulder replacement causing an increase in procedure volume among the elderly, younger patients are driving the need for revision arthroplasty due to poor outcomes. Stemless shoulder devices, which have been available on the market in Europe for the past few years, aim to make future revision more straightforward and allow replacement to be performed in younger patients. However, there is no indication of when these will enter the APAC market.
“In terms of the market environment, shoulder replacement is the largest segment of the extremities space, and most companies focus on this specific joint in their extremities portfolio," Madu added. "In 2015, Zimmer’s strategic acquisition of Biomet and Wright Medical’s merger with Tornier created two of the most comprehensive extremities platforms on the market. This will provide economies of scale into a market which is relatively small compared to that of large joints. Effectively, there will be increased competition for other major players with robust shoulder portfolios, including DePuy Sythes, Lima Corporate, and Stryker. The projected growth rate of the extremities market makes it a determinable profit driver for any company that succeeds in capitalizing on this opportunity.”
Four thousand of the world’s largest companies, including more than 70 percent of FTSE 100 and 60 percent of Fortune 100 companies, make more timely and better business decisions with the help of GlobalData’s unique data, expert analysis and solutions, all in one platform. GlobalData’s mission is to help clients decode the future to be more successful across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.