Market Size of Global Elbow Replacement Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 3.50 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Elbow Replacement Market Analysis
The elbow replacement market is expected to record a CAGR of 3.5% over the forecast period (2022-2027).
COVID-19 had a significant impact on the overall healthcare industry. As per the article published in 2020 under the title 'How the Covid-19 pandemic affected shoulder and elbow practice in Turkey?', a more than 75% decrease in surgical and outpatient clinical activity in elbow practice was documented during COVID-19. The rate of obtaining informed consent remained low, and half of the respondents used telemedicine. Moreover, as per the article published in 2020 under the title 'COVID-19 - Changes in the presentation and management of shoulder and elbow trauma in a UK district general hospital orthopaedic department', there was a significant change in the upper limb caseload. Certain injuries have been reduced, likely due to the COVID-19 lockdown. Hence, as per the factors mentioned above, COVID-19 has a significant impact on the elbow replacement market.
The damaged parts of the elbow are replaced with artificial elbow devices through surgery which is known as elbow replacement. The growth is mainly driven by technological advancements and the growing burden of diseases such as osteoarthritis and rheumatoid arthritis. For instance, as per the Centers for Disease Control and Prevention report, the projected prevalence of rheumatoid arthritis in the United States is 76 million by 2040. Due to the high estimated prevalence of rheumatoid arthritis, the probability of elbow replacement is projected to rise in the upcoming year thereby fueling the market.
Increased research and development initiatives, and government funding in the field of orthopedic area boost the market growth. For instance, as per the article published in 2022 under the title 'How long does an elbow replacement last? A systematic review and meta-analysis of case-series and national registry reports with more than 10 years of follow-up', over 80% of all elbow replacements and over 90% of linked elbow replacements are anticipated to last more than 10 years with sustained patient-reported benefits. Hence, owing to the increased benefit and durability associated with elbow replacements, the chance of adopting elbow replacement is high and thus boosting the market growth.
As per the aforementioned factors, the healthcare mobility solutions market is likely to grow over the forecast period. However, safety and security issues associated with patient health information and a lack of skilled professionals restrain the market growth.
Elbow Replacement Industry Segmentation
As per the scope of the report, In elbow replacement, the physician replaces the elbow with an artificial joint made from two implants that attach to the bones in the arm. A metal and plastic hinge joins the implants together. The Elbow Replacement Market is segmented by Product (Partial Elbow Replacement, and Total Elbow Replacement), End User (Hospitals, Orthopedic Centers, Others), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Product | |
Partial Elbow Replacement | |
Total Elbow Replacement |
By End User | |
Hospitals | |
Orthopedic Centers | |
Others |
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Global Elbow Replacement Market Size Summary
The elbow replacement market is poised for growth, driven by technological advancements and the increasing prevalence of conditions such as osteoarthritis and rheumatoid arthritis. The procedure involves replacing damaged elbow components with artificial devices, and its adoption is expected to rise due to the high estimated prevalence of these diseases. The market is further bolstered by increased research and development initiatives, as well as government funding in the orthopedic sector. Despite the challenges posed by the COVID-19 pandemic, which significantly impacted surgical and outpatient activities, the market is recovering and is anticipated to expand over the forecast period. The total elbow replacement segment is expected to experience significant growth, supported by the rising number of patients, advancing technologies, and the growing demand for surgeries due to arthritis-related disabilities.
North America is a dominant region in the elbow replacement market, attributed to a sedentary lifestyle, a high burden of rheumatoid arthritis, and elbow injuries. The region benefits from advanced healthcare infrastructure, increased awareness of extremity implants, and a surge in product launches. The market is moderately fragmented, with several global and regional players such as Smith & Nephew, Johnson & Johnson, and Zimmer Biomet actively participating. Initiatives like the Canadian Orthopaedic Care Day and product innovations, such as DePuy Synthes' radial head replacement, are expected to further propel market growth. The presence of competitors, ongoing research, and government support continue to fuel the market's expansion, indicating a positive outlook for the elbow replacement industry.
Global Elbow Replacement Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Burden of Arthritis
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1.2.2 Technological Advancements
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1.2.3 Increased Awareness of the Procedure
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1.3 Market Restraints
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1.3.1 Availability of Alternatives
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1.3.2 High Cost of the Procedure
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Product
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2.1.1 Partial Elbow Replacement
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2.1.2 Total Elbow Replacement
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2.2 By End User
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2.2.1 Hospitals
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2.2.2 Orthopedic Centers
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2.2.3 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle-East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle-East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Elbow Replacement Market Size FAQs
What is the current Global Elbow Replacement Market size?
The Global Elbow Replacement Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in Global Elbow Replacement Market?
Johnson & Johnson, Stryker Corporation, Zimmer Biomet, Wright Medical Group N.V and Smith & Nephew are the major companies operating in the Global Elbow Replacement Market.