Published Date : Jun 27, 2017
Albany, New York, June 27, 2017: MarketResearchReports.biz now features a report, titled “MediPoint: Elbow Replacement - Global Analysis and Market Forecasts.” The report serves as a professional study, which has been compiled by referring to various paid and unpaid sources, including press releases, journals, presentations, and white papers. It extensively studies markets across 39 countries, including the U.S., Canada, the U.K., Italy, Germany, Spain, India, Japan, China, Australia, Brazil, Israel, and South Africa.
As per the findings of the report, the sales in the global elbow replacement implants market across 39 countries stood at US$47.1 mn and is poised to rise to US$58.8 mn by the end of 2023, progressing at a CAGR of 3.2% between 2016 and 2023.
Elbow replacement forms an important segment of the global joint reconstruction market. The market for elbow replacement implants is primarily driven by the widening base of aged people and the rising incidence of rheumatoid and osteoarthritis. The advent of sophisticated diagnostic techniques along with the rising awareness regarding these procedures is stoking the growth of the market. The increasing inclination towards competitive activities and other intense physical activities have resulted in growth in the incidence of elbow and ankle-related sports injuries, thereby expanding the patient pool. This is, therefore, escalating the demand for elbow replacement implants.
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However, the high costs of these implants are keeping the market from realizing its utmost potential. This is further compounded by the shrinking reimbursement policies. The heightened competitive pressures are also negatively impacting the growth of the global elbow replacement implants market.
The report segments the global elbow replacement implants market on the basis of geography into Asia Pacific, North America, South America, Europe, and the Middle East and Africa. The growth of North America and Europe will be propelled by the increasing incidence of obesity and the growing geriatric population. However, the declining reimbursement benefits in Europe are likely to prompt patients to opt for alternative surgeries such as MIS and arthroscopic debridement, which is likely to hamper growth prospects in the region.
In Asia Pacific and South America, emerging countries such as India, China, and Brazil will be at the forefront of growth. The growth of these regions can be attributed to the burgeoning cases of elbow-related injuries, economic growth, and improving healthcare infrastructure. Besides this, the broadening insurance coverage and rising awareness among the populace regarding elbow replacement implants are augmenting the growth of the region.
Key players in the global elbow replacement implants market are banking on extensive research and development activities and results from long-term clinical trials to stay relevant. Market participants are focusing towards product innovation and quality, as customers are lining up to patronize the providers that are offering high-quality products. Some of the prominent companies operating in the global market are Acumed, DJO Global, Integra LifeSciences, Corin Group, Lima Corporate, Kyocera Medical, Wright Medical Group, Stryker, and Zimmer-Biomet.
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