Global Elbow Replacement Market is Anticipated to Witness High Growth Owing to Increasing Prevalence of Arthritis

The global elbow replacement market has been gaining significance due to the increasing prevalence of arthritis, especially rheumatoid arthritis, across the globe. Elbow replacement is a surgical procedure to replace the inner or outer parts of the elbow joint with artificial parts made from metals, plastic or other materials. The procedure helps to relieve pain and improve arm movement and elbow function in patients suffering from severe arthritis or damage to the elbow joint. Elbow replacement devices such as total, partial and resurfacing elbow implants are commonly used to restore normal elbow motion. The implant materials include metal alloys like cobalt chromium and titanium as well as polyethylene and ceramic components. The rising geriatric population suffering from arthritis along with advancements in implant design and surgical techniques are projected to drive the adoption of elbow replacement surgeries and implants in the coming years.


 The Global elbow replacement market is estimated to be valued at US$ 144.2 MN in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024 to 2031.


Key Takeaways

Key players operating in The Global Elbow Replacement Market are Wright Medical Group N.V., Integra LifeSciences Corporation, Zimmer Biomet, Johnson & Johnson Service, Inc., Corin Group, Stryker, Smith+Nephew, DJO, LLC, Arthrex, Inc., Limacorporate S.p.A., Acumed LLC, CONMED Corporation, implantcast GmbH, BioMedtrix, LLC, Meril Life Sciences Pvt. Ltd., and RCH ORTHOPAEDICS. Wright Medical Group N.V. is one of the major players offering a broad portfolio of elbow arthroplasty solutions like the MRP Total Elbow Replacement System and the Evolution Total Elbow System.

The increasing adoption of minimally invasive surgical techniques and advancements in elbow prosthesis design present significant growth opportunities for companies. Shorter recovery time and improved implant functionality are expected to drive demand for novel partial and resurfacing elbow implants.

Key players are focused on expanding their international footprints in high growth markets like Asia Pacific and Latin America. Strategic partnerships with hospitals and distribution agreements with medical device dealers are helping companies strengthen their global presence and service offerings.

Market Drivers

The increasing geriatric population worldwide vulnerable to osteoarthritis and rheumatoid arthritis is a major driver propelling demand for elbow replacements. According to estimates, the number of people aged 60 years and above will double to nearly 2.1 billion by 2050. Such individuals are at higher risks of orthopedic disorders like elbow arthritis.

Advancements in implant design and biomaterials are leading to enhanced prosthesis functionality and longevity. Newer implants offer bone-preserving options, shorter recovery periods and improved postoperative mobility. This is encouraging more patients to opt for elbow replacement surgery.

Market Restrain

The high costs associated with elbow replacement surgery and implants is a key restraint. Elbow replacement devices require sophisticated manufacturing technologies and stringent regulatory approvals which makes them expensive. This limits their availability and adoption in low and middle-income countries.

The risk of complications including infection, implant loosening and restricted mobility with some implants also discourages patients and physicians. Surgical expertise and strict postoperative care requirements further add to the challenges.
Segment Analysis
Initial phase replacement was dominated by hemiarthroplasty, which involves resurfacing of the inner surface of the elbow joint. However, total elbow replacement has emerged as the preferred procedure as it provides better pain relief and improves elbow function. Cemented implants were commonly used initially but cementless implants are gaining popularity owing to less chances of cement wear debris and loosening of implant over time. Linked or hinged implants are dominating the market currently as they better replicate the natural elbow motion.

Global Analysis
North America holds the largest share in global elbow replacement market due to increasing healthcare expenditure and awareness about advanced treatment options. Asia Pacific is expected to witness fastest growth during the forecast period owing to rising geriatric population, improving access to healthcare facilities and increasing orthopedic procedures. In terms of volume, Asia Pacific elbow replacement market is projected to reach close to 100 thousand procedures by 2031.

 

Get More Insights On Elbow Replacement Market

 

Comments

Post a Comment

Popular posts from this blog

Hypoglycemic Drugs Market is Estimated to Witness High Growth Owing to Increasing Prevalence of Diabetes in the Geriatric Population

Image
Hypoglycemic drugs or anti-diabetic drugs are medications used to treat diabetes mellitus by lowering blood glucose levels. Some key hypoglycemic drugs include insulin, sulfonylureas, metformin, thiazolidinediones, DPP-4 inhibitors, SGLT2 inhibitors and GLP-1 receptor agonists. These drugs help control blood sugar levels in diabetics and prevent or delay diabetes-related health complications. The global hypoglycemic drugs market is estimated to be valued at US$ 720.72 Mn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Dynamics: The growth of the global hypoglycemic drugs market is majorly driven by the increasing prevalence of diabetes in the geriatric population globally. As per estimates, around 1 in every 11 people aged 65 years and above have diabetes. Further, the number of people with diabetes in this age group is anticipated to grow from 25.9 million in 2017 to...
Read more

Clinical Trials Rising with Digital Technologies Adoption

Image
 Clinical trials support services play a vital role in assisting sponsors and life science companies to conduct clinical trials in a precise and well-organized manner.These services assist pharmaceutical companies in patient recruitment, data management, site management, and overall clinical trial management. With rising complexities in clinical trials owing to integration of technologies like telehealth and remote patient monitoring, the demand for these support services is growing substantially. The global Clinical Trials Support Services Market is estimated to be valued at US$ 22.38 Bn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The growing adoption of digital technologies across clinical trials is a key trend accelerating the growth of the clinical trials support services market. Digital tools like electronic data capture, clinical trial manag...
Read more

Vegan Yogurt Market is Poised for Growth Driven by Rising Health Consciousness

Image
Vegan yogurt is a dairy-free alternative to conventional yogurt made from plant-based milk such as soy, almond, oat, coconut or rice. It provides similar texture and taste to dairy yogurt but without any animal products.Vegan yogurt offers several health advantages over dairy yogurt as it is devoid of lactose, cholesterol and saturated fats. The growing number of people adopting vegan and flexitarian diets has driven the demand for plant-based dairy alternatives like vegan yogurt. The global vegan yogurt market is estimated to be valued at US$ 4.15 Mn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024 to 2031. Key Takeaways Key players- Met Fods, Cocos Organic, Hain Celestial, EasiYo Product Limited, Danone, General Mills Inc., Stonyfield Far, Inc., Daiya Foods Inc.m Good Karma foods, Inc.m Hudson River Foodsm NANCY'S, Kite Hill, COYO Pty lTd., Nush Foods, Chobani, LLC, Barambah Oraganics Pty Ltd., Blue Diamond Growers, Dean Foodsm General Mills Inc...
Read more