Overall, the U.S. small bone and joint orthopedic devices market is expected to increase over the next several years to reach an estimated $4 billion by 2023
Vancouver, BC -- (ReleaseWire) -- 08/18/2017 --According to a new series of reports on the U.S. market for orthopedic small bone and joint devices by iData Research (www.idataresearch.com), growth in the market is led by the foot & ankle device and shoulder reconstruction device segments. The fastest growing segment is the foot & ankle market, which grew roughly 9% in 2016. The foot & ankle device market features by far the greatest number of procedures, but many of them use relatively inexpensive implants. There is a trend towards arthroplasty devices over arthrodesis, which carries a higher average selling price (ASP) such as with ankle replacement over fusion and the treatment of hammertoe with implants over K-wires. This shifts in product preference are propelling the foot & ankle market's growth due to the adoption of devices with higher ASPs.
"As the U.S. small bone and joint orthopedic market is adapting to the needs of the aging population, there is a need for regular updates, revisions, and brand-new products being introduced to the market," explains Jeffrey Wong, Strategic Analyst Manager at iData Research. "With new innovations, physician training and proficiency in adopting any new product is crucial to its success."
To see the contents of this orthopedics market report, please visit idataresearch.com.
The quality of device implantation depends on the proficiency of the surgeon and, as a result, the majority of procedures will be limited to centers where a high volume of implants is placed. This limitation will change as designs improve and durability data accumulates, resulting in more physician acceptance. Total wrist replacement remains a small market, but the shift towards the use of ulnar head replacement has already begun. This demonstrates that new products and procedures for the total wrist replacement market is slowly being accepted by more physicians in the region.
DePuy Synthes leads the U.S. small bone and joint orthopedic device market due to their strong market position in both the plate & screw and the external fixation device markets. DePuy Synthes was also very strong in the shoulder reconstruction, staple fixation, and foot & ankle device markets. DePuy Synthes' largest revenues came from the shoulder reconstruction devices market, followed closely by the plate & screw device market, especially the distal radius plate market. The company was the first to introduce locking plates, which contributed considerably to the internal fixation market because of higher average selling prices per unit.
Wright Medical is the second leading competitor in the U.S. small bone and joint orthopedic device market. Their largest revenues came from the foot and ankle device segment where they are the leading competitor. Wright Medical completed its merger with Tornier in 2015, to form one of the largest competitors in not only extremities, but in the overall orthopedics market. Wright Medical has been slowly gaining share over the past several years, which is in part due to their increased portfolio of the shoulder reconstruction market. Additional competitors in the U.S. orthopedic small bone and joint device market include Zimmer Biomet, Stryker, Arthrex, Smith & Nephew, Acumed, Integra Life Sciences, Exactech and DJO Surgical among others.
For Further Information
More on the orthopedic small bone and joint market in the U.S. can be found in a series of reports published by iData entitled the U.S. Market Report Suite for Small Bone and Joint Orthopedic Devices. The full report suite on the U.S. market for small bone and joint orthopedic devices includes shoulder reconstruction devices, elbow repair devices, hand & wrist devices and foot & ankle devices. This report also includes plate & screw devices, staple fixation devices and external fixation devices markets.
The iData series on the market for orthopedic small bone and joint devices covers the U.S., Japan, China, India and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxembourg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about orthopedic small bone and joint device market data or procedure data, register online or email us at email@example.com for a U.S. Market Report Suite for Small Bone and Joint Orthopedic Devices brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting firm, dedicated to providing the best in business intelligence for the medical device industry. Our research empowers our clients by providing them with the necessary tools to achieve their goals and do it right the first time. iData covers research in: Orthopedic Trauma, Large & Small Joints, Orthopedic Soft Tissue, Orthopedic Biomaterials, Orthopedic Soft Tissue Reinforcement and Regeneration, Vascular Access, Spinal Implants and VCF, Spinal MIS, Wound Management, Dental Operatory Equipment, Dental Material, Dental Lasers, Dental Prosthetics, Dental CAD/CAM, Dental Bone Graft Substitutes, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Ophthalmics, Laparoscopy, Urology, Gynecology, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Anesthesiology and more.
We have built a reputation and earned our clients' trust based on consistent and uniquely intelligent research that allows our customers to make confident decisions and impact their businesses. A combination of market expertise and over a decade of experience has resulted in a deep understanding of the medical device industry that has inspired innovation and propelled our clients to success.