Within the U.S. small bone and joint devices market, the total market is composed of both reconstruction and internal fixation products. Both plate and screw devices are defined as internal fixations primarily indicated for the treatment of fractures. On the other hand, fixation products are similar to traumatic fixation devices, but they can be replaced by a trauma device, meaning that there is an overlap between the reconstructive fixation market and the traumatic fixation market.
Since 2021, the U.S. small bone and joint device market has seen impressive growth following the challenges brought on by the COVID-19 pandemic. According to iData’s analysts, the U.S. small bone and joint device market expects to experience a 6.6% CAGR increase to exceed $3.9 billion by 2028. The two largest segments of the U.S. small bone and joint orthopedic device market were the shoulder reconstruction market and the foot and ankle device market, representing the strong majority of the total market value. Because of this, we wanted to analyze and explore what factors are responsible for the exciting growth within the U.S. small bone and joint device market over the next 10 years.
WHAT SEGMENTS ARE INCLUDED WITHIN THE U.S. SMALL BONE AND JOINT DEVICE MARKET?
Several different segments are discussed within iData’s U.S. small bone and joint device market report including shoulder reconstruction and fixation devices, elbow repair devices, hand and wrist devices and foot and ankle devices.
Shoulder Reconstruction Market
The shoulder implant market includes the anatomic, reversed, hemi, resurfacing and revision shoulder markets, as well as the shoulder internal fixation plate and screw market. The majority of the market value continues to reside with the reversed shoulder implant market segment, due to strong unit sales and a high ASP, supported by clinical evidence and the procedure’s positive outcomes.
Elbow Repair Device Market
The elbow repair and fixation market is segmented into primary elbow, radial head implants and internal fixation devices. In 2021, the elbow reconstruction and fixation market remained the smallest part of the total small bone and joint device market in the United States.
Hand and Wrist Device Market
In 2021, the hand and wrist device market is expected to experience moderate growth over the forecast period. The hand and wrist market is divided into total wrist implants, wrist fusion, ulnar head replacement, hand digit implants and distal radius plate and screw segments.
Foot and Ankle Device Market
The overall foot and ankle device market is expected to grow over the forecast period. The foot and ankle market is the second-largest segment of the total small bone and joint device market in the United States.
WHAT FACTORS ARE RESPONSIBLE FOR THE INCREASE OVER THE NEXT 10 YEARS IN THE U.S. SMALL BONE AND JOINT DEVICE MARKET?
1. Robotic Technology and Digital Surgery
One of the main trends in the small joint orthopedic device market is a shift towards digital technology, digital surgery, robotics and data insights to improve patient care. For example, 3D-printing technology is a personalized orthopedic solution that fully adjusts to the specific anatomical and clinical needs of each individual patient. There is a general belief that the emerging 3D-printing technology may potentially make manufacturing custom implants more cost effective in the long term, as this personalized instrumentation allows for more positioning precision in placing implants during operations.
2. Demographic Factors
Factors that drive the large joint and spine markets also promote growth in the small bone and joint market, such as the aging population. The incidence of osteoarthritis (OA) rises as the average age of the population increases. According to the U.S. Department of Health and Human Services, people aged 65 and older represented 16% of the population in the year 2019 but are expected to grow to be 21.6% of the population by 2040. As the population ages, the incidence of osteoarthritis and other musculoskeletal disorders will also rise, therefore driving the small bone and joint device market.
3. Use in Trauma Cases
In recent years, there has been an increase in the activity rates of the population, which is correlated with an increase in the prevalence of trauma cases. For example, one of the widely used indications for ankle replacement is treatment of post-traumatic arthritis, which is characterized by a worn-out joint caused by a physical injury. The growing number of trauma cases will contribute to the small bone and joint device market growth.
WANT FURTHER INSIGHTS ON THE U.S. SMALL BONE AND JOINT DEVICE MARKET?
Although robotic technologies, demographic factors, and the increased use in trauma cases are all contributing to the growth in the U.S. small bone and joint device market, there are still other factors at play. Furthermore, if you find yourself interested in further understanding the market size, market trends, average selling prices, procedure volumes, and the competitive landscape of the market, request an executive summary below.