Extremity Products Market Size & Share, by Type (Upper Extremities, Lower Extremities); End-User (Hospitals, Clinics, ASCs); Material (Metallic, Ceramic, Natural, Polymeric) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5476
  • Published Date: Jan 03, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Extremity Products Market size is anticipated to reach USD 24 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of extremity products was USD 12 Billion. The reason behind the growth is due to the growing incidence of arthritis across the globe driven by growing aging populations, rising rates of obesity and high BMI, physical inactivity, and deteriorating physical and mental health. It is frequently the cause of morbidity, and joint inflammation and one of the main reasons for discomfort in the upper extremity or arm including hand, wrist, and elbow. For instance, osteoarthritis is a prevalent condition that has affected more than 14% of those over 30 worldwide over the past few decades.

The growing technological advancements in orthopedic implant technology are believed to fuel the market growth. For instance, the creation of biodegradable implants is a trend toward integration in orthopedic implant technology which may lower implant rejection rates, enhance long-term results, and remove the need for follow-up surgeries.


Extremity Products Market
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Extremity Products Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~7%

Base Year Market Size (2023)

~ USD 12 Billion

Forecast Year Market Size (2036)

~ USD 24 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Extremity Products Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Rising Elderly Population - In older adults’ muscles and bones deteriorate with age, which makes them more vulnerable to falls and accidents that may cause major injuries including fractures. For instance, more than 85% of all fractures in the elderly are caused by falls. According to the World Health Organization (WHO), the number of individuals 60 years of age and over will reach around 2.1 billion worldwide by 2050.
  • Growing Rate of Road Accidents- Many orthopedic injuries can result from auto accidents, such as whiplash, fractures, dislocations, torn ligaments, and injuries to the spinal cord which can be the leading cause of mortality and disability for many people.

For instance, road crashes claim the lives of more than 1 million people annually, injuring up to 45 million more, and filling over 35% of orthopedic beds in hospitals in underdeveloped nations.

  • Increasing Number of Sports-Related Injuries- Children and younger adults frequently sustain sports-related injuries which may impact both soft tissues and developing bone. Particularly, in the US, every year, over 3 million kids and teenagers get injuries from organized sports or physical activities.

Challenges

  • Exorbitant Cost of Implant Surgeries - Strict government regulations and the high expense of orthopedic implant therapy techniques have raised the overall cost of the procedure for the patient. For instance, in almost the last ten years, the average cost of hip and knee implants has climbed by more than 90%. Moreover, orthopedic implants function differently from other medical devices, which has a unique cost associated with instrumentation, high inventory costs, surgeon training, and specialized sales force.
  • Stringent Regulatory Requirements Leading to Delays in Introducing New Products to the Market
  • Presence of Alternative Treatment Methods May Limit the Adoption of extremity products.


Extremity Products Segmentation

Type (Upper Extremities, Lower Extremities)

The upper extremities segment in the extremity products market is estimated to gain a robust revenue share of 60% in the coming years owing to the growing burden of thromboembolism. When a blood clot separates and plugs another blood vessel, it might cause thromboembolism which represents a significant cause of morbidity for those wearing prosthetic heart valves. Moreover, it is a common pathology that underlies ischemic heart disease, and ischemic stroke which is usually caused by anatomic abnormalities in the venous architecture, reduced blood flow, elevated venous pressure, and increased blood viscosity.

The most frequent cause of acute upper extremity ischemia is thromboembolism which has been linked to the increased usage of cardiac pacemakers, defibrillators, and central venous catheters. Deep vein thrombosis in the upper extremities, can make up as much as one-third of all thromboses when there is physical exertion that can happen to young, healthy people as well as older patients with severe comorbidities. Furthermore, patients with upper extremity deep vein thrombosis typically exhibit upper extremity pain along with edematous swelling of the afflicted arm whereby repeated arm exercises, as well as arm motions, have been identified as the condition's risk factors. For instance, there are more than 1,210,000 instances of venous thrombosis (VTE) in the United States per year.

Material (Metallic, Ceramic, Natural, Polymeric)

Extremity products market from the metallic segment is set to garner a notable share shortly. Metallic implants are frequently chosen as load-bearing components in orthopedic prostheses such as for joint replacement as they are better than conventional ceramic and polymeric orthopedic biomaterials. Metallic implants are becoming more and more significant as they are available in three types stainless steel, CoCr alloys, and Ti and Ti alloys which are considered a great option for complete joint replacement because of their many qualities, including high strength, high fracture toughness, and biocompatibility.

Our in-depth analysis of the global market includes the following segments:

Type

  • Upper Extremities
  • Lower Extremities

End-User

  • Hospitals
  • Clinics
  • ASCs

Material

  • Metallic
  • Ceramic
  • Natural
  • Polymeric

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Extremity Products Industry - Regional Synopsis

North American Market Forecast

The Extremity Products market in North America is predicted to account for the largest share of 46% by 2036 impelled by the rising spending in healthcare. As a result, more companies in the region are introducing advanced medical treatments and orthopedic interventions. Moreover, this has also improved access to medical services to meet the need of individuals who are suffering from orthopedic issues. According to estimates in 2o21, U.S. health spending climbed by over 2% to reach around USD 4 trillion, or USD 12,913 per person.

European Market Statistics

The Europe Extremity Products market is estimated to be the second largest, during the forecast timeframe led by the increasing mergers and acquisitions. For instance, in January 2021 Smith+Nephew a British multinational medical equipment manufacturing company acquired the Extremity Orthopaedics business of Integra LifeSciences Holdings Corporation to boost its extremities business by combining a complementary shoulder replacement and upper and lower extremities portfolio.

Research Nester
Extremity Products Market size
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Companies Dominating the Extremity Products Landscape

top-features-companies
    • Johnson and Johnson Services Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Acumed LLC
    • Owens and Minor Inc.
    • Skeletal Dynamics LLC
    • Smith and Nephew plc
    • TriMed Inc.
    • Waldemar Link GmbH and Co. KG
    • Wright Medical Group NV
    • Zimmer Biomet Holdings Inc.
    • Arthrex Inc.
    • Stryker Corp.

In-the-news

In The News

  • Johnson and Johnson Services Inc. announced that its orthopedics company DePuy Synthes obtained approval from the U.S. Food and Drug Administration (FDA) for the TriLEAP Lower Extremity Anatomic Plating System that offers a wide range of equipment that can be utilized during the reduction, internal fixation, and fusing of bones and bone fragments. Furthermore, the system satisfies the intricate requirements of podiatrists, foot and ankle specialists, and orthopedic surgeons to give them a variety of options for intraoperative decisions.
  • Acumed LLC acquired ExsoMed to expand Its offering of upper extremity treatments for easy to difficult injuries and meet the growing demand for surgical instruments with low invasiveness. Additionally, the products are excellent complements, since they are made to give surgeons choices for in situ customization to attain the best possible patient fit and function restoration and to change the way that hand fractures are treated.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 5476
  • Published Date: Jan 03, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing incidence of arthritis across the globe and the growing technological advancements in orthopedic implant technology are the major factors driving the growth of the market.

The market size of Extremity Products is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2024-2036.

The major players in the market are Acumed LLC, Owens and Minor Inc., Skeletal Dynamics LLC, Smith and Nephew plc, TriMed Inc., Waldemar Link GmbH and Co. KG, Wright Medical Group NV, Zimmer Biomet Holdings Inc., Arthrex Inc., Stryker Corp., and others.

The upper extremities segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Extremity Products Market Report Scope
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