Small bone and joint devices typically include those that are involved in elective procedures, and command higher selling prices. Within iData’s European small bone and joint market report, the following segments were included: shoulder joint reconstruction devices, elbow joint reconstruction devices, hand & wrist devices, and foot & ankle devices. Because the 2023 version of iData’s European small bone and joint device market report was just released, we wanted to share some key insights about this market, the key competitors, and some interesting trends to help you stay on top:
As discussed above, the largest segment in the European small bone and joint devices market was the shoulder reconstruction market segment. Within Europe, there is an overall decline in ASPs, but the shoulder reconstruction market segment has continued to increase its market value and is expected to do so throughout the forecast period. Because of this, the shoulder reconstruction market segment constituted close to 42% of the overall market value in 2021. By 2029, the European small bone and joint market expects to reach €788 million, however, the market faces limitations when it comes to regulatory processes. Recently, regulatory processes have gotten more restrictive and because of this, market growth has been hampered and it has become more difficult to launch new products.
Several companies compete and develop products within the European small bone and joint market, despite the ongoing regulatory restrictions. Overall, three companies have managed to increase their market shares and become leaders within the market. DePuy Synthes, Zimmer Biomet, and Stryker are three companies, within the past year, that have competed head-to-head for a leading market position. Although DePuy Synthes is the overall market share leader, the company only has a 3% lead on Zimmer Biomet, while Zimmer Biomet holds a 0.1% lead over Stryker.
In terms of trends within the European small bone and joint market, there has been an increase in the occurrence of minimally invasive procedures due to a reduction in associated risks. Interestingly, minimally invasive surgery has been largely accepted and tends to be the preferred method within the shoulder reconstruction market segment. Stemless should implants have grown in popularity which have opened up exciting opportunities for manufacturers to enter the stemless should market in countries where it is in the very early stage of adoption.
FURTHER EUROPEAN SMALL BONE AND JOINT MARKET INSIGHTS
For even more insights on market values, market trends, average selling prices (ASPs), procedure numbers, market shares and the top competitors, COVID-19 insights and analyses, and insights on the total addressable market – visit our European small bone and joint product page or request a complimentary executive summary through the button below.