Prevalence of arthritis in elderly population presents vast avenue; popularity of reverse shoulder arthroplasty in patient population presents abundant opportunities; rise in healthcare spending enriching prospects of Asia Pacific market WILMINGTON, Del., Sept. 12, 2022 /PRNewswire/ -- Recent insights on the shoulder replacement market underscore the trend of rise in reverse shoulder arthroplasty in developed regions, particularly North America. Increasing adoption of customized prosthetics in the patient population has propelled sales of shoulder replacement market. The global market is forecast to advance at a CAGR of 6.9% from 2022 to 2031.
Medical device companies are leaning on research & development activities to develop next-gen products for treatment of degenerative joint disorders in a bid to grow their market share for shoulder replacement. They are keen on developing products with lower failure rates and high safety profile in order to improve the overall patient outcomes. The market value of the shoulder replacement is expected to grow stridently on the back of commercialization of products with cutting-edge technology. Rise in number of people suffering from osteoarthritis in whom nonsurgical treatments have failed to show expected results is driving the expansion of the shoulder replacement market. Get Exclusive PDF Sample Copy of Shoulder Replacement Market Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=58962
Key Findings of Shoulder Replacement Market Study
Rise in Number of Reverse Shoulder Arthroplasty Generating Substantial Revenue Streams: Advancements in reverse shoulder arthroplasty techniques and technology presents vast lucrative opportunities for players in the market to capitalize on. Medical device companies are grabbing substantial revenue streams from the increased popularity of reverse total shoulder arthroplasty. The study authors observed that partial shoulder replacements have also risen, thereby presenting a lucrative avenue. Surgeons are presented with an opportunity to advance their skill sets, with support by governments.
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Shoulder Replacement Market: Key Drivers
Growing popularity of reverse shoulder arthroplasty surgeries in the target population has expanded the outlook of the shoulder replacement market considerably
Shoulder Replacement Market: Regional Growth Dynamics
North America held a major share of the global shoulder replacement market in 2021. Presence of globally prominent medical device manufacturers in the U.S. and Canada who are increasingly offering advanced products to treat traumatic and degenerative glenohumeral diseases is a major pivot for revenue generation. Rise in uptake of customized products has also fueled the growth of the North America market. The regional market on the back of these factors is estimated to retain its lead during the forecast period.
Asia Pacific is a remarkably promising region in the global market. Rise in incidence of osteoarthritis, coupled with growing healthcare spending, is a key underpinning for profitable avenues for medical device companies, small as well as large players. Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=58962
Shoulder Replacement Market: Competition Landscape
The TMR study on the global shoulder replacement market found that the competition landscape is highly fragmented, attributed to the presence of several players with significant stakes.
Shoulder Replacement Market Segmentation
Total Shoulder Replacement
Reverse Shoulder Replacement
Revision Shoulder Arthroplasty
Ambulatory Surgical Centers
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