Shoulder Replacement Market to Grow with a CAGR of 7.21% through 2028

Rising incidence of shoulder conditions and advancements in implant technology is expected to drive the Global Shoulder Replacement Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Shoulder Replacement Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Shoulder Replacement Market stood at USD 1.62 billion in 2022 and is anticipated to grow with a CAGR of 7.21% in the forecast period, 2024-2028. This can be attributed to growing healthcare infrastructure. Improved healthcare infrastructure in many regions of the world has made shoulder replacement surgery more accessible to a larger population. The availability of state-of-the-art facilities, well-trained healthcare professionals, and advanced medical equipment has contributed to the growth of the shoulder replacement market.

Additionally, biologics and regenerative therapies are emerging as potential alternatives or complementary treatments to shoulder replacement surgery. Stem cell therapies and growth factor injections may help repair damaged shoulder tissues, delaying or eliminating the need for surgery. These therapies offer less invasive options for patients and may reduce the demand for traditional replacements.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Shoulder Replacement Market”

The healthcare industry has been significantly impacted by the COVID-19 pandemic. Healthcare facilities had to redirect their focus from orthopedic procedures to the treatment of COVID-19 patients, causing a disruption in the market's growth. Some regions saw the closure or limited operations of orthopedic and smaller hospitals, with other facilities being converted into containment and treatment centers for COVID-19 patients. The suspension of elective surgeries during the pandemic led to a decrease in hands-on practice and exposure to various procedures. Additionally, many hospitals delayed the procurement of medical equipment for surgical procedures, further affecting market growth.

The rising incidence of arthritis has emerged as a major cause of disability among adults and the elderly on a global scale. A study conducted by the National Institute for Health and Care Research (NIHR) in 2021, which analyzed nine studies involving shoulder replacements, indicated that approximately nine out of ten shoulder replacements have a lifespan of at least a decade. This longevity of shoulder replacements is expected to drive growth in the market.

Furthermore, a prospective and retrospective observational study conducted by Chintala Srilekha et al. in South India highlighted that individuals between the ages of 46 and 60 were most affected by osteoarthritis, with a higher prevalence among females. According to data from the United Nations' World Population Prospects: The 2021 Revision, the global population aged 65 years or older is projected to more than double by 2050, increasing from 727 million in 2020 to 1.5 billion in 2050. This age group is experiencing faster growth rates compared to younger demographics. Consequently, the worldwide population of arthritis patients is expanding, leading to a heightened demand for shoulder replacement procedures. As the burden of arthritis grows and the aging population continues to rise, the demand for shoulder replacements is expected to follow suit.

The Global Shoulder Replacement Market is segmented into type, procedure, end-user, regional distribution, and company.

Based on its type, anatomical shoulder prosthesis is expected to grow during the forecast period. Arthroplasty has established itself as a highly dependable treatment option for shoulder joint degenerative disorders. Over the past six decades, there have been numerous innovations in implant designs, aimed at resolving initial challenges encountered in arthroplasty, including the restoration of function and prevention of implant loosening. Despite the ascendancy of reverse shoulder arthroplasty (RSA) as the predominant shoulder replacement procedure in prominent nations like the United States and the United Kingdom, total anatomical shoulder arthroplasty (TSA) continues to serve as a well-established therapeutic approach for osteoarthritis in patients possessing a functional rotator cuff.

Individuals suffering from osteoarthritis who undergo TSA can now anticipate enduring and significant enhancements in pain relief and functionality. Given the proven effectiveness of anatomical shoulder arthroplasty, it is projected to garner increased attention and demand in the future. In Europe, the International Osteoporosis Foundation (IOF) assumes responsibility for promoting awareness of osteoporosis care. According to the research article titled "Trends in the Incidence and Prevalence of Osteoarthritis in the United Kingdom," as published by the National Institute of Health, the incidence of osteoarthritis in the United Kingdom stood at 6.8 cases per 1000 individuals in 2020, with a prevalence rate of approximately 10.7% during the same year. These statistics are expected to contribute to the growth of the anatomical shoulder prosthesis segment.

Based on end-user, hospitals are poised to dominate the global shoulder replacement market due to their integral role in providing comprehensive healthcare services, including orthopedic procedures. These institutions offer a wide range of specialized facilities, state-of-the-art surgical equipment, and a highly trained workforce, which are essential for conducting complex shoulder replacement surgeries. Additionally, hospitals often have established relationships with orthopedic surgeons and referral networks, making them the preferred choice for patients seeking shoulder replacement procedures. Their ability to provide pre-operative consultations, post-operative care, and rehabilitation services under one roof enhances patient convenience and fosters trust. Furthermore, hospitals frequently invest in the latest implant technologies and surgical techniques, ensuring that patients have access to cutting-edge treatments. As the demand for shoulder replacements continues to rise, hospitals are well-positioned to play a pivotal role in meeting this growing healthcare need.

Major companies operating in Global Shoulder Replacement Market are:

• Arthrex Inc
• Zimmer Biomet Holdings Inc
• Integra LifeSciences Corp
• Johnson & Johnson
• Smith & Nephew PLC
• Wright Medical Group NV
• Stryker Corp
• DJO Global Inc
• Acumed Inc
• Exactech Inc

Download Free Sample Report

Customers can also request for 10% free customization on this report.

“The global shoulder replacement market is evolving rapidly, driven by innovative technologies, patient-centric approaches, and a growing demand for improved quality of life among individuals with shoulder conditions. As personalized implants, minimally invasive techniques, and robot-assisted surgery become standard practice, the future of shoulder replacement procedures promises better outcomes and enhanced patient experiences. Additionally, the integration of biologics and regenerative therapies, along with the expanding role of telemedicine, is poised to transform the landscape of shoulder care, offering patients a wider range of treatment options and increasing accessibility to healthcare services,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Shoulder Replacement Market By 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, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Shoulder Replacement Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Shoulder Replacement Market.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York 10017

Tel: +1-646-360-1656

Email: [email protected]

Website: www.techsciresearch.com