The global market for small-joint implants is expected to reach about $1.8 billion in 2015, according to a report by Life Science Intelligence.
“2009 Global Small Joint Implant Markets” examines the market for joint replacement products for the fingers and hand, wrist, elbow, shoulder, and ankle and foot, as well as internal fixation devices used to fuse or stabilize small joints.
The report concludes that this year the market for small-joint implants is worth $570.4 million in the United States; $336.5 million in Europe; and $158.3 million in the Asia-Pacific region and the rest of the world (ROW). In comparison, projections for 2015 show the U.S. market being worth about 1.8 billion; the European market swelling to $480.3 million; and the Asia-Pacific/ROW sector reaching $269 million.
In the United States, the adoption of products that already are well established in Europe, such as reverse shoulder replacements and mobile-bearing devices for total ankle arthroplasty (TAA), will help generate revenue, according to the report’s findings. A renewed interest in TAA and the availability of a range of partial and total replacement products for the fingers and hand should help to spur growth in joint arthroplasty.
In Europe, an aging population is driving the demand for small-joint implants. While cost-cutting measures will continue to influence prices and product purchases, revenue growth is expected to remain strong. In addition, the availability of a range of joint replacement products will contribute to procedure growth in many European countries, the study shows.
In the Asia-Pacific region and ROW, some suppliers have encountered challenges with respect to regulatory processes and distribution. While these challenges are expected to persist in the future, demographics and increasing demand for small-joint implants will drive growth in the region, the report concluded.
For more information about the report, visit http://lifescienceintelligence.com/market-reports-page.php?id=LSI-WW091OR.