Extremity Products Market

Increasing incidences of orthopedic conditions is driving the market growth

The prevalence of orthopedic disorders such fractures from sports injuries and falls, spinal deformities, scoliosis, tendon injuries, and disc degeneration in the spine, hip, and shoulder are all on the rise, which is driving up demand for products related to the extremities worldwide. The elderly are more prone to fractures, and osteoporosis, a disorder marked by decreased bone density brought on by aging, is a major contributing cause. During the projected period, the demand for goods for the extremities is anticipated to increase due to the growing number of this population and the rising incidence of osteoporosis.

Due to their involvement in sports and other physical activities, children are also more likely to get injuries. Orthopedic issues and sports injuries are being treated via the market for extremities items. The global market for extremity products is anticipated to expand as a result of this trend, which is anticipated to contribute to the rising demand for such items.

The rapid growth in lifestyle-related diseases like obesity and diabetes, which further exacerbate joint problems, as well as the rising prevalence of joint illnesses including osteoarthritis and arthritis, are what are driving the global market for extremities reconstruction. The market for extremities reconstruction is anticipated to continue growing as patients' awareness of better treatment alternatives and their desire for a higher quality of life both rise.

Demand is rising as a result of the development of new materials, advances in materials, and materials' non-intrusive properties. External fasteners are used to operate the diabetic foot, which increases its prominence. External fixators provide mechanical support to bones with structural flaws, enabling skeleton alignment. The market for trauma and extremities devices would expand as a result of the rising incidence of diabetic foot, which would raise the demand for external fixators.

The market is also anticipated to be driven by changes in clinical practice patterns and technological advancements such as the use of stemless shoulder implants and minimally invasive procedures like ankle arthroplasty in place of ankle fusion, reversed shoulder implants in place of anatomical shoulders, and ankle arthroplasty as an alternative to ankle fusion. Thus, driving the Extremity Products market revenue.

The Global Extremity Products Market Industry is experiencing growth due to the increasing prevalence of orthopedic disorders. Conditions such as arthritis, fractures, and sports injuries are becoming more common, particularly among aging populations. For instance, the World Health Organization indicates that by 2024, the market is projected to reach 12.7 USD Billion, driven by the demand for effective treatment solutions. As the global population ages, the need for extremity products, including joint replacements and orthopedic braces, is likely to rise, further propelling market expansion. This trend suggests a sustained demand for innovative extremity solutions that cater to diverse patient needs.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Extremity Products Market dominated the global market in 2022 with 45.80% share. This is explained by a rise in vehicle accidents in the area and technological developments in items for the extremities. The availability of highly qualified personnel, the presence of a developed and well-equipped healthcare infrastructure, and the availability of broad healthcare insurance coverage.

The expansion of the industry in North America is also being aided by the existence of institutions and organizations that offer educational programs on fractures and potential treatments. Further, the U.S. market of extremity products held the largest market share, and the Canada market of extremity products was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: EXTREMITY PRODUCTS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Extremity Products market accounted for the significant market share in 2022. This can be ascribed to an increase in patients as a result of numerous traffic accidents and massive funding from the European Union. Rising rates of sports injuries, an aging population, and more health awareness are the main contributors to its high proportion. Further, the German market of extremity products held the largest market share, and the U.K market of extremity products was the fastest growing market in the European region

The Asia Pacific Extremity Products market is expected to register fastest CAGR from 2023 to 2032. The increase in the elderly population, the expansion of the healthcare system, and the expansion of investment projects in the area are all contributing factors to this growth. The primary driver of regional growth is the increase in traffic accidents. High demand is being made possible by economic conditions and improving healthcare reforms. Additionally, it forces the development of less invasive, cost-effective biocompatible implants that are anatomically closer to their natural structure.

Moreover, China’s market of extremity products held the largest market share, and the Indian market of extremity products was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the market of extremity products, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Extremity Products industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Extremity Products industry to benefit clients and increase the market sector. In recent years, the Extremity Products industry has offered some of the most significant advantages to medicine. Major players in the Extremity Products market, including CONMED Corp., Smith & Nephew plc, Stryker Corporation, Zimmer Biomet Holdings, Inc., depuy synthes, Integra LifeSciences Holdings Corporation, Wright Medical Group N.V., Acumed, Inc., Arthrex, Inc, and Skeletal Dynamics LLC., are attempting to increase market demand by investing in research and development operations.

ConMed Corp (ConMed) is a manufacturer and seller of surgical tools and equipment for monitoring and minimally invasive operations. Arthroscopes, reconstructive systems, bronchoscopy tools, endoscopic ligator kits, stone-removal balloons, trocars, graspers, and scissors, suction irrigation tools, thermal tissue fusion systems, electrosurgical generators, smoke evacuation pencils, pencil sheaths, saws, and blades, endo mechanical instrumentation, and surgical visualization tools are some of the company's main products. 

ConMed serves the markets for sports medicine, gastrointestinal, pulmonology, gastroenterology, general surgery, and gynecology. The business offers its goods directly to consumers and through distributors who specialize in the medical industry. It conducts business throughout the Asia-Pacific, Europe, the Middle East, and the Americas. ConMed's U.S. headquarters are in Florida. In August 2022, CONMED Corporation CNMD declared that it had successfully acquired the privately held start-up Biorez in a deal worth USD 85 million that was paid in cash.

The development, production, and marketing of medical devices for use in orthopedic reconstruction and trauma, sports medicine, ENT, and advanced wound treatment are the main business activities of Smith & Nephew Plc (Smith & Nephew). The business provides robotics-assisted technologies, knee and hip implants to replace sick, worn, or damaged joints, trauma-related items to support fractures, and deformity repair operations. Additionally, it provides items for treating wounds as well as tools and materials for removing and repairing soft tissue. 

Surgeons, nurses, nurse specialists, doctors, general practitioners, buying staff at hospitals, and health insurers are among the groups to which Smith & Nephew makes its goods available. The company sells its goods across Africa, the Middle East, Asia-Pacific, Europe, and North America. The UK's Hertfordshire county of Watford is home to Smith & Nephew's headquarters. Smith+Nephew stated in September 2020 that it has reached an agreement to pay USD 240 million for Integra LifeSciences Holdings Corporation's Extremity Orthopaedics business. The acquisition will aid Smith+Nephew's plan to invest in markets with faster growth.