The latest trending report published by Crystal Market Research titled, Extremity Reconstruction Devices Market, approximates that the Extremity Reconstruction Devices market size is estimated to flourish at a significant CAGR in the future, and this is attributed to the escalation in need for this product across the globe along with novel innovations in the market.
The extremity reconstruction products are implantable devices for wrist, elbow, shoulder, ankle, and foot. The musculoskeletal system of human beings is composed of muscles, bones, and joints. These bones are attached to each other at a joint, with the help of tendons and ligaments, to facilitate body movements. However, the cartilage starts deteriorating due to normal wear and tear with the passing years, which leads to many joint problems. The most common type of joint disorder is arthritis, which affects hands, knees, hips, and spine. Rheumatoid arthritis (RA) is the second most common of type of chronic condition, which leads to cartilage damage. Moreover, its prevalence increases with the age and it is projected to occur in almost 2.2% of the population aged more than 55 years.
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The global population is aging rapidly. Almost every country is experiencing growth in the number and proportion of older people in their population. For instance, the global share of older people increased from 9.2% in 1990 to 11.7% in 2013 and will reach 21.1% by 2050. Moreover, the number of older people is projected to reach 2 billion in 2050 from 841 million people in 2013 (Source: United Nations Department of Economic and Social Affairs). Elderly people are more susceptible to joint disorders such as arthritis. Arthritis is one of the most common joint disorders in persons aged 65 years and above. According to a study conducted by Arthritis Foundation, currently more than 50 million adult Americans have arthritis and this number is expected to increase to 67 million by 2030 whereas around 300,000 children have arthritis or some other form of rheumatic diseases.
The extremity reconstruction devices market is projected to be around $4 billion by 2025.
The global extremities market is projected to witness tremendous growth during the forecast period. This high growth can be attributed to a number factors such as rise in number of joint disorders such as rheumatoid arthritis and osteoarthritis, increase in number of lifestyle related problems (such as diabetes and obesity) leading to joint disorders, growing elderly population, increased adoption of advanced products (such as reverse shoulder), and growing demand for minimal invasive procedures. Moreover, increased awareness about advanced treatment options coupled with rise in need for increasing standard of living and quality of life will further stimulate the market growth. However, stringent approval process and high cost of extremity reconstruction procedures coupled with complications related to these surgeries will hamper the market growth during the forecast period.
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