The extremity products market is projected to grow by USD 1.79 Billion from 2024-2028, with AI influencing trends and rising orthopedic conditions driving revenue - Technavio

NEW YORK, Sept. 23, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global extremity products market  size is estimated to grow by USD 1.79 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.16%  during the forecast period. Rising prevalence of orthopedic conditions is driving market growth, with a trend towards growing number of orthopedic conferences  However, post-surgical complications  poses a challenge - Key market players include 3-Point Products, Acumed LLC, Arthrex Inc., Artificial Limbs Manufacturing Corp. Of India, Aspire Medical Innovation, Bone Foam Inc., Breg Inc., Conmed Corp., Exactech Inc., Extremity Medical LLC, In2Bones Corp., Johnson and Johnson Services Inc., Owens and Minor Inc., Skeletal Dynamics LLC, Smith and Nephew plc, Stryker Corp., TriMed Inc., Waldemar Link GmbH and Co. KG, Wright Medical Group NV, and Zimmer Biomet Holdings Inc..

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Key Market Trends Fueling Growth

Orthopedic conferences serve as valuable platforms for vendors in the global extremity products market to exhibit their innovative solutions to orthopedic surgeons and key policymakers. These events provide opportunities for vendors to distribute educational materials, such as fliers, detailing clinical trial results and product features. Attendees include orthopedic surgeons, who are the primary target audience, and policymakers who may issue guidelines for safer and more effective surgeries. The American Academy of Orthopaedic Surgeons (AAOS) annual meeting, held annually in the US in March, is a significant global event for vendors to showcase their products and technologies to a wide audience. Vendors continue to participate in such conferences to boost market visibility for their upper and lower extremity solutions during the forecast period. 

The Extremity Products Market is experiencing significant growth due to the rising prevalence of orthopedic diseases such as fractures, spinal abnormalities, scoliosis, tendon injuries, disc degeneration, and joint problems including osteoarthritis and arthritis. The aging population, obesity, diabetes, and osteoporosis are also driving market growth. Advanced healthcare devices, including metallic, ceramic, polymeric, and natural material-based medical devices, are in high demand for orthopedic reconstruction, trauma, sports medicine, ENT, advanced wound treatment, and hand and feet treatments. The market caters to deformities in limbs, broken joints, orthopedic disorders, and surgery cases. Robot-assisted procedures and 3D implants are gaining popularity in hip, shoulder, and spine surgeries. Hospitals and clinics are major customers, with trauma cases and accidents being common use cases. The market includes metal products for orthopedic implants, and solutions for avascular necrosis and musculoskeletal diseases. 

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Market Challenges

• Extremity surgeries, including orthopedic procedures, carry potential risks such as nerve damage, bleeding, infections, and the need for additional surgeries. Complications like intraoperative fractures and dislocations can prolong the recovery process and increase the need for corrective surgery. Implants, such as pins, wires, and screws, can cause infections, which may lead to non-union and the need for a second surgery. Defective devices, including metal screws, plates, and rods, can also displace or break. Hyperactivity in bones during healing can result in extra growth and dislocations. These complications may negatively impact the perception of extremity procedures and encourage the exploration of alternatives like physiotherapy and Ayurveda. As awareness about these risks grows, the global extremity products market may experience slower growth during the forecast period.
  
  
• The Extremity Products Market encompasses a wide range of medical devices designed for the treatment of various conditions in the upper and lower limbs. These products are made from different materials such as metallic, ceramic, polymeric, and natural. They cater to diverse medical needs including trauma, orthopedic reconstruction, sports medicine, ENT, advanced wound treatment, hand and feet deformities, broken joints, orthopedic disorders, and surgery cases. Market growth is driven by an aging population, increasing life expectancy, and the rise in road accidents and sports injuries. Advanced healthcare devices like 3D implants, robot-assisted procedures, and biologics are gaining popularity due to their effectiveness in addressing complex conditions like arthritis, avascular necrosis, and musculoskeletal diseases. Key market segments include medical devices for the spine, hip, shoulder, and other joints. Products include external healing splints, surgical implants, joint replacements, plates, screws, and advanced materials like metal and ceramic. Hospitals and clinics are the primary customers, with trauma cases and accidents being major application areas.

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Segment Overview 

This extremity products market report extensively covers market segmentation by

1. Type 
• 1.1 Upper extremities
• 1.2 Lower extremities
2. End-user 
• 2.1 Hospitals
• 2.2 Clinics
• 2.3 ASCs
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Upper extremities-  The global upper extremity products market encompasses solutions for the shoulder, wrist and hand, arms, and elbow regions. These body parts consist of bones, joints, muscles, nerves, blood vessels, and tendons. Injuries and fractures in the upper extremities can be treated using various products such as external recovery braces, surgical implants, joint replacements, biologics, and external support implants. The shoulder segment is expected to dominate the market due to the extensive use of the shoulder muscles and bones during daily activities and sports, leading to a high incidence of injuries. Common conditions affecting the shoulder include rotator cuff tears, arthritis, fractures, and dislocations. The wrist and hand segment is also expected to witness significant growth due to the increasing prevalence of osteoporosis and resulting wrist fractures. The shoulder segment includes products like the GALAXY Fixation Shoulder by Orthofix Holdings, Reunion RFX by Stryker, APTUS Shoulder Proximal Humerus System 3.5 by Medartis, and NBX Shoulder fixator by Nutek Orthopaedics. The wrist and hand segment offers products such as the Acu-Loc 2 Wrist Plating System by Acumed, 4Fusion by Stryker, TRILOCK T-PLATE and 5/4 HOLE 1.2/1.5 by Medartis, Wrist Spanning Plate by DePuy Synthes, and Volar Bearing Plate by TriMed. The arms segment includes solutions for nerve injuries, fractures, cervical spondylosis, and joint and vascular problems. Treatment options include rest, cold application, physical therapy, medication, and surgery. Arm extremity products include the Anatomic Midshaft Forearm Plating System by Acumed, Unitrac Pneumatic Holding Arm by B. Braun Melsungen, and PHILOS System by DePuy Synthes. The elbow segment is prone to injuries due to bursitis, ligament tears, dislocations, and fractures. Treatment includes rest, cold application, compression, stretching exercises, medication, and surgery. Elbow extremity products include the VariAx 2 Elbow by Stryker, Olecranon Plates by Acumed, A.L.P.S. Elbow Fracture System by Zimmer Biomet, APTUS Elbow by Medartis, GALAXY Fixation by Orthofix Holdings, and 2.7 mm/3.5 mm Variable Angle LCP Elbow System by DePuy Synthes. The others segment includes solutions for injuries to the forearm, elbow, and fingers. This segment is expected to grow due to the launch of innovative products to treat injuries in these regions. For instance, Zimmer Biomet A.L.P.S. Elbow Fracture System is a comprehensive set of products designed to address injuries to various bones around the elbow.

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Research Analysis

The Extremity Products Market encompasses a wide range of medical devices designed to address various orthopedic conditions affecting the hands, feet, and limbs. These conditions include orthopedic diseases such as fractures, sports-related trauma, spinal abnormalities, scoliosis, tendon injuries, disc degeneration, and joint problems like osteoarthritis and arthritis. The aging population, lifestyle-related diseases such as obesity and diabetes, and osteoporosis are significant factors driving market growth. Materials used in extremity products include metallic materials, and there is a growing trend towards the use of 3D implants. Deformities in limbs, broken joints, and orthopedic disorders are common surgery cases, leading to increased demand for these products. Life expectancy and the prevalence of arthritis problems also contribute to market growth.

Market Research Overview

The Extremity Products Market encompasses a wide range of medical devices designed to address various orthopedic conditions, including fractures, sports-related trauma, spinal abnormalities, scoliosis, tendon injuries, disc degeneration, osteoporosis, obesity, diabetes, joint problems, osteoarthritis, arthritis, and avascular necrosis. These conditions can affect both upper and lower extremities, leading to the production of advanced healthcare devices such as 3D implants, surgical implants, joint replacements, biologics, plates, and screws. Materials used in these products include metallic, ceramic, polymeric, and natural materials. Orthopedic reconstruction, trauma, sports medicine, ENT, advanced wound treatment, hand and feet, deformities in limbs, and broken joints are some of the key areas where extremity products find application. The aging population, with its increasing life expectancy, and the rise in accidents and surgery cases further fuel the demand for these medical devices. Robot-assisted procedures and hospitals and clinics are major end-users in this market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Upper Extremities
• Lower Extremities
• End-user
• Hospitals
• Clinics
• ASCs
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio