Shoulder Replacement Market Size, Share, Industry Trends and Forecast to 2030

Shoulder Replacement Market Size & CAGR in 2021

The global shoulder replacement market is estimated to have a Compound Annual Growth Rate (CAGR) of 4.5% in 2021. This growth is expected to result in the market size reaching USD 2.1 billion by the end of the year.

COVID-19 Impact on the Shoulder Replacement Market

The COVID-19 pandemic had a significant impact on the shoulder replacement market in 2020 and 2021. Due to lockdowns and restrictions on elective surgeries, the market experienced a decline in demand for shoulder replacement procedures. However, as healthcare systems adapted to the new normal and restrictions eased, the market began to recover in the latter part of 2021.

Shoulder Replacement Dynamics

The shoulder replacement market is driven by factors such as the increasing prevalence of shoulder injuries and conditions, the growing aging population, and advancements in surgical techniques and implant materials. Additionally, the rise in sports injuries and the adoption of minimally invasive procedures are contributing to the market growth.

Segments and Related Analysis

The shoulder replacement market can be segmented based on the type of procedure, implant material, end-user, and region. Types of procedures include partial shoulder replacement, total shoulder replacement, and reverse shoulder replacement. Implant materials commonly used include metal, ceramic, and polyethylene.

By Region Analysis

The shoulder replacement market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to dominate the market due to the high prevalence of shoulder injuries and well-established healthcare infrastructure.

Key Market Players and Competitive Landscape

Key players in the shoulder replacement market include Zimmer Biomet, Stryker Corporation, Johnson & Johnson, Smith & Nephew, and Medtronic, among others. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to maintain a competitive edge in the market.

Recent Happenings in the Shoulder Replacement Market

- In August 2021, Zimmer Biomet announced the launch of a new shoulder replacement system with advanced features for improved patient outcomes. - In October 2021, Stryker Corporation acquired a leading manufacturer of shoulder implants to expand its presence in the shoulder replacement market. - In December 2021, Johnson & Johnson introduced a cutting-edge robotic-assisted shoulder replacement system for precise and personalized surgical procedures.