Extremity Reconstruction Market Expected to Reach $6.5 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Extremity Reconstruction Market," The extremity reconstruction market size was valued at $3.6 billion in 2020, and is estimated to reach $6.5 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030. 

The key drivers of the extremity reconstruction market size include, the rise within the number of joint disorders such as osteoarthritis and atrophic arthritis, increase within the ageing population, and rise in prevalence of diabetes and obesity globally, which further contribute to joint disorders. Increase in awareness amongst patients about the advantages of small joint reconstruction devices and improvement of technology such as the event of stemless shoulder implants, reverse shoulder implants, and ankle reconstruction devices help patients to retain the mobility of the ankle, and are expected to propel the growth of the market. However, unfavorable reimbursement scenarios, requirement for revision of the surgery after few years, and complications involved within the extremity reconstruction surgery are expected to hamper the growth of the extremity reconstruction market share.

The extremity reconstruction market analysis is segmented by product, material, and region. On the basis of product, the market is sub-segmented into upper extremity reconstruction devices and lower extremity reconstruction devices. Upper extremity reconstruction devices are further segmented into shoulder reconstruction, elbow reconstruction, and hand & wrist reconstruction. Lower extremity reconstruction is further segmented into foot fusion, ankle fusion, and ankle reconstruction.

Amongst the upper extremity reconstruction devices, shoulder reconstruction is the highest revenue-generating segment within the overall extremity reconstruction market forecast, because of growing number of patients that choose shoulder reconstruction surgery, technological advancements within the shoulder implants, and positive clinical outcomes of shoulder reconstruction surgeries. In the lower extremity reconstruction devices, the ankle replacement sub-segment is predicted to grow at the best rate attributable to the massive number of technological advancements during this area as compared to ankle fusion. Innovations in ankle replacement technology have improved ankle motion in contrast to ankle fusion that restrict motion within the ankles. On the basis of material, the market is segmented into metallic, ceramic, polymer, and natural materials. The natural material segment is predicted to grow at the best rate because it is biocompatible and biodegradable.

KEY FINDINGS OF STUDY

In 2020, upper extremity reconstruction was the highest revenue-generating segment, and is projected to grow at a CAGR of 6.0 % during the forecast period.
Metallic materials are the major components of extremity reconstruction market growth.
The ceramic material extremity reconstruction market was valued at $203.3 million in 2020, and is projected to reach $441.57 million by 2030, registering a CAGR of 8.2% from 2021 to 2030
The U.S. is the leading country in global extremity reconstruction industry, which accounts for more than 4.3 % of the overall market.
Germany accounted for about one-third share of the European extremity reconstruction industry in 2020.
The Indian extremity reconstruction market is expected to grow at a CAGR of 10.7% during the study period.