Shoulder Replacement Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.16 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
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?
Shoulder Replacement Market Analysis
The shoulder replacement market is projected to register a CAGR of 8.16% during the forecast period (2022 - 2027).
COVID-19 has had a great impact on the overall healthcare industry. With that, in healthcare facilities, the treatment was shifted from orthopedic procedures to COVID-19 patients, which also affected the market growth. Along with that, in a few regions, the orthopedic and small hospitals were shut down or their operations had been limited, and other hospitals were being converted to containment facilities and treatment wards for COVID-19 patients. The inevitable pausing of all elective surgeries has limited hands-on practice and exposure to a number of procedures. Amid the pandemic, the procurement of medical equipment has been on hold by a significant portion of hospitals performing surgeries. All these factors are likely to impact market growth.
The increasing incidence of arthritis is the leading cause of disability among adults and the geriatric population globally. Moreover, a study conducted by National Institute for Health and Care Research (NIHR) in 2021 showed that the analysis was based on nine studies (including 529 total and 364 partial shoulder replacements); plus six articles about patient-reported outcomes (of 530 shoulder replacements). An Australian national joint registry that provided 10-year follow-up (on 7,651 total, 7,953 reverse total, and 1,395 partial shoulder replacements) was also included. The findings also revealed that nine out of ten shoulder replacements last for at least a decade, which may ultimately boost the growth of the shoulder replacement market.
According to a prospective and retrospective observational study by Chintala Srilekha et al., published in the International Journal of Orthopedics Sciences 2020, in South India, people aged between 46-60 years were most affected by osteoarthritis and among them, females were more affected than men. Moreover, As per the data from World Population Prospects: The 2021 Revision published by the United Nations, the number of older people aged 65 years or above, is expected to more than double by 2050 globally, rising from 727 million in 2020 to 1.5 billion in 2050. Globally, the population group aged 65 years or over is registering faster growth rates than all younger age groups. Hence, the number of arthritis patients is increasing worldwide and as the patient pool increases, the demand for shoulder replacement also increases. Hence, the growing arthritis burden, along with the rising aging population is likely to increase the demand for the shoulder replacement market.
Shoulder Replacement Market Trends
This section covers the major market trends shaping the Shoulder Replacement Market according to our research experts:
Anatomical Shoulder Prosthesis is Expected to Witness Healthy Growth
Arthroplasty has proved to be one of the most reliable treatment options for degenerative joint diseases of the shoulder. There have been several advancements in implant designs over the last 60 years to address the initial problems encountered in arthroplasty which include restoration of function and implant loosening. Despite the fact that reverse shoulder arthroplasty (RSA) has become the most commonly performed type of shoulder replacement in major countries such as the United States and the United Kingdom, total anatomical shoulder arthroplasty (TSA) has remained a well-established treatment for osteoarthritis in patients with a competent rotator cuff. Patients with osteoarthritis that are treated with TSA can nowadays expect a lasting, significant improvement in pain and function. Due to this efficacy of anatomical shoulder arthroplasty, the same is expected to gain more attention in the future. In Europe, the International Osteoporosis Foundation (IOF) is responsible for raising awareness of osteoporosis care in Europe. According to the article titled 'Trends in incidence and prevalence of osteoarthritis in the United Kingdom,' published by the National Institute of Health, in 2020, the incidence of Osteoarthritis in the United Kingdom was 6.8 per 1000 people, whereas the prevalence was around 10.7% during the year 2020, which will rsult in the growth of this segment.
North America is Expected to Dominate the Overall Market
The North American region dominates the shoulder replacement market, and it is expected to do the same during the forecast period. With the presence of major international companies that are in the medical device business, the United States and Canada are becoming the largest hotspot for the medical device industry. Added to that, the development of the healthcare system in the United States and Canada is also fuelling the market studied.
As per the data from World Bank 2020, about 16.9% of the American population was 65 years old or over, which is believed to reach up to 22% by the year 2050. The number of adults in the United States with doctor-diagnosed arthritis is projected to increase by 49% to 78.4 million (25.9% of all adults). Additionally, according to a report by Weinstein Legal, published in March 2020, nearly 30 million children and adolescents participate in youth sports in the country each year, which is likely to drive the demand for the shoulder replacement devices market in the United States.
Furthermore, in August 2021, Johnson & Johnson introduced the INHANCE Shoulder System, fully integrated shoulder arthroplasty system. It offer surgeons the ability to seamlessly transition from stemless to stemmed implants during surgical procedures. Hence, owing to such factors, North America currently may dominate the market and is believed to follow the same trend over the forecast period.
Shoulder Replacement Industry Overview
The market studied is moderately competitive and consists of local and international companies. Most of the major players in this market are focusing on expansion to the developing economies to gain market share. Also, several companies are coming up with new product launches which are helping them to sustain their presence in the global market. Some of the companies currently dominating the market are Arthrex, Johnson and Johnson, Wright Medical Group, Stryker Corporation, Zimmer Biomet, Integra Lifesciences, etc.
Shoulder Replacement Market Leaders
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Arthrex
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Johnson and Johnson
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Zimmer Biomet
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Wright Medical Group
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Stryker Corporation
*Disclaimer: Major Players sorted in no particular order
Shoulder Replacement Market News
- In August 2021, Smith+Nephew launches new total ankle and total shoulder replacement technologies and featured its recently expanded extremities portfolio at the American Academy of Orthopaedic Surgeons 2021 Annual Meeting being held in San Diego.
- In July 2021, Stryker introduced the Tornier shoulder arthroplasty portfolio and launched a new Tornier Perform Humeral System.
Shoulder Replacement Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Growing Arthritis Population
- 4.2.2 Advancement in Shoulder Replacement Technology
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4.3 Market Restraints
- 4.3.1 Post-operative Risks of Surgery
- 4.3.2 Cost of the Procedure
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4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 Anatomical Shoulder Prosthesis
- 5.1.2 Reverse Shoulder Prosthesis
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5.2 By Procedure
- 5.2.1 Resurfacing Hemiarthroplasty
- 5.2.2 Reverse Total Shoulder Replacement
- 5.2.3 Stemmed Hemiarthroplasty
- 5.2.4 Total Shoulder Replacement
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5.3 By End-User
- 5.3.1 Hospitals
- 5.3.2 Orthopedic Centers
- 5.3.3 Others
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle-East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle-East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Arthrex Inc.
- 6.1.2 Zimmer Biomet
- 6.1.3 Integra Lifesciences Holdings Corporation
- 6.1.4 Johnson and Johnson
- 6.1.5 Smith & Nephew
- 6.1.6 Wright Medical Group
- 6.1.7 Stryker Corporation
- 6.1.8 DJO Global (Enovis)
- 6.1.9 Acumed LLC
- 6.1.10 Exactech, Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Shoulder Replacement Industry Segmentation
Shoulder replacement is a surgical procedure in which all or part of the glenohumeral joint is replaced by a prosthetic implant. Such joint replacement surgery generally is conducted to relieve arthritis pain or fix severe physical joint damage. The Shoulder Replacement Market is segmented by Type (Anatomical Shoulder Prosthesis, Reverse Shoulder Prosthesis), Procedure (Resurfacing Hemiarthroplasty, Reverse Total Shoulder Replacement, Stemmed Hemiarthroplasty, Total Shoulder Replacement) End-User (Hospital, Orthopaedic Centre, Others), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Type | Anatomical Shoulder Prosthesis | |
| Reverse Shoulder Prosthesis | ||
| By Procedure | Resurfacing Hemiarthroplasty | |
| Reverse Total Shoulder Replacement | ||
| Stemmed Hemiarthroplasty | ||
| Total Shoulder Replacement | ||
| By End-User | Hospitals | |
| Orthopedic Centers | ||
| Others | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle-East and Africa | GCC |
| South Africa | ||
| Rest of Middle-East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Shoulder Replacement Market Research FAQs
What is the current Global Shoulder Replacement Market size?
The Global Shoulder Replacement Market is projected to register a CAGR of 8.16% during the forecast period (2024-2029)
Who are the key players in Global Shoulder Replacement Market?
Arthrex, Johnson and Johnson, Zimmer Biomet, Wright Medical Group and Stryker Corporation are the major companies operating in the Global Shoulder Replacement Market.
Which is the fastest growing region in Global Shoulder Replacement Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Shoulder Replacement Market?
In 2024, the North America accounts for the largest market share in Global Shoulder Replacement Market.
What years does this Global Shoulder Replacement Market cover?
The report covers the Global Shoulder Replacement Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Shoulder Replacement Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Shoulder Replacement Industry Report
Statistics for the 2023 Shoulder Replacement market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Shoulder Replacement analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
