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.
Growth Drivers
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.
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~7% |
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Base Year Market Size (2023) |
~ USD 12 Billion |
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Forecast Year Market Size (2036) |
~ USD 24 Billion |
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Regional Scope |
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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:
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Type |
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End-User |
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Material |
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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.
Author Credits: Radhika Gupta, Shivam Bhutani
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