Increasing Number of Road Accidents and Sports-Related Injuries to Boost Small Joint Replacement Market

Road accidents make a significant portion of the worldwide burden of orthopedic injuries including small joint injuries. According to the Association of System Integrators and Retailers in Technology (ASIRT), it is estimated that every year nearly 50 million people get injured in road accidents. According to the WHO, road traffic injury is estimated to be the ninth leading cause of deaths globally, which is predicted to become the seventh leading cause of deaths by 2030. In athletics, traumatic injuries to the extremities are very common. Diagnosis and initial treatment for these injuries is important. Increasing number of sports-related injuries and road accidents are increasing the number of trauma cases thereby, propelling the demand for small joint replacement and the growth of the global small joint replacement market.

Other factors expected to drive the growth of the small joint replacement market include growing ageing population, increasing incidence of osteoporosis and osteoarthritis, advancement in technology and favorable reimbursements for small joint replacement surgery. Ageing population is becoming one of the most significant social transformations. Globally, population aged 60 and above is growing at a rapid pace than all the younger age groups. The ageing population is growing at such a rate that those aged 60 and above currently account for over 10 percent, which is likely to rise to over 20 percent by 2050. The frequently growing geriatric population is expected to drive the growth of the global small joint replacement market as they are at a high risk of developing osteoarthritis and low bone density. Moreover, bone density progressively reduces with the increasing age. The common sites of osteoporotic fracture are the spine, wrist, hip and shoulder. Increasing prevalence of osteoporosis and osteoarthritis is also projected to drive the growth of the small joint replacement market.

Favorable reimbursement is also an important factor propelling the adoption of small joint replacement. For instance, the reimbursement for total ankle replacement, a type of small joint replacement, was USD 12,326 under the MS-DRG 470, until October 2017, when it was redesignated to MS-DRG 469. This further has increased to USD 19,296 in 2018. Similarly, other small joint replacement procedures, e.g., elbow joint replacement, are also covered under the MS-DRG 483 with a reimbursement value of USD 14246.3. Furthermore, the inclusion of minimally invasive surgeries for small joint replacement such as ankle arthroplasty has reduced the duration of hospital stay, recovery time and risk of infections. These factors are expected to increase the adoption of small joint replacement.

The company has segmented the small joint replacement market based on product type, end users and region.

• Based on product type, the small joint replacement market is segmented into ankle replacement, digits replacement, elbow replacement and wrist replacement.
• Based on end users, the small joint replacement market is segmented into hospitals and outpatient centers.
• Based on regions, the small joint replacement market is segmented into North America, Latin America, Europe, Asia Pacific and MEA.

The companies operating in the small joint replacement market are focusing on their growth plans by innovating new and advanced products for small joint replacement. They are focusing on geographical expansion and collaboration to gain maximum share in the small joint replacement market. North America is expected to hold substantial revenue share in the global small joint replacement market. The participants operating in the large joint replacement market are inclined towards using their expertise and advancements in large joint replacement products to enter the small joint replacement market.

Examples of some of the key companies operating in the small joint replacement market are Johnson & Johnson Services Inc, Zimmer Biomet Holdings, Stryker Corporation, Smith & Nephew, Wright Medical Group N.V., Integra LifeSciences, Evolutis Group, Corin Group, KeriMedical SA, and Marle SA, among others. – Persistence Market Research