NEW YORK, July 29, 2019 (GLOBE NEWSWIRE) -- The global small joint reconstructive implants market is expected to generate $10.1 billion revenue by 2024, advancing at a CAGR of 5.5%, during the forecast period. Factors driving the growth of the market include increasing incidences of arthritis, surging geriatric population, and increasing prevalence of osteoporosis, according to P&S Intelligence.
Based on type, the small joint reconstructive implants market is categorized into hand and wrist, foot and ankle, staple fixation, and others. As hands and wrists are highly prone to injuries due to accidents and various sports; therefore, the category holds the largest share in the market.
On the basis of material, the small joint reconstructive implants market is classified into metal and polymer. Implants made of polymers are biocompatible and rarely lead to side-effects or infections in patients. Due to these advantages of polymeric implants, this category is expected to advance at a faster CAGR of 5.7% during the forecast period. However, the metallic implants category would lead the market throughout the forecast period, owing to low cost compared to polymer-based implants.
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Based on end user, the small joint reconstructive implants market is bifurcated into hospitals and ambulatory surgical centers (ASCs). Of these, hospitals are expected be larger end-user category in the market, thriving at a CAGR of 5.4%, during the forecast period. This is due to large number of patients with joint related-issues and increasing number of osteopathic surgeries being performed in hospitals, globally.
The small joint reconstructive implants market in APAC is expected to witness lucrative growth, witnessing a CAGR of 6.1% during the forecast period. The market in APAC is led by factors such as sedentary lifestyle, unhealthy eating habits, and rising number of orthopedic surgeries in the region.
Browse report overview with 135 tables and 50 figures spread through 163 pages and detailed TOC on "Small Joint Reconstructive Implants Market Research Report: By Type (Hand and Wrist, Foot and Ankle, Staple Fixation), Material (Metal, Polymer), End-User (Hospitals, Ambulatory Surgical Centers) – Regional Insight (U.S., Canada, Germany, France, U.K., China, Japan, Brazil, Mexico, Saudi Arabia, South Africa) – Global Industry Analysis and Demand Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/small-joint-reconstructive-implants-market
Further, the APAC countries are populous, and there are many incidences of road accidents reported in the region. According to the WHO, the road traffic injuries are a leading cause of deaths among people aged between 15 and 44 in China. Furthermore, the incidence of road accidents has been constantly increasing in India as well. These boost the demand for small joint reconstructive implants. Also, the presence of regional players contributing to the growth of the small joint reconstructive implants market.
The small joint reconstructive implants market is consolidated in nature. Smith & Nephew plc, Integra LifeSciences Holdings Corporation, DePuy Synthes, Zimmer Biomet Holdings Inc., Stryker Corporation, Orthofix Medical Inc., Wright Medical Group N.V., Arthrex Inc., Acumed LLC, Exactech Inc., and DJO Global Inc. are some of the major players in the market. These companies are adopting product launches, as a key strategy, to maintain their leading position in the market.
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For instance, in July 2018, Wright Medical Group N.V. announced the launch of PROstep, minimally invasive surgery system. The PROstep system is designed for foot and ankle surgery, and is intended to provide a minimally invasive, procedurally integrated solution that features specifically designed implants and instrumentation for percutaneous surgery of the foot.
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