The United States small bone orthopedics market is expected to grow over the next five years and presents huge opportunities for joint surgery device manufacturers, according to an iData report.
Here are 10 things to know about the market:
1. The U.S. small bone and joint orthopedic devices market will reach $4 billion by 2020, with high levels of growth expected; some project the compound annual growth rate to approach 8 percent.
2. Even the slowest-growing segment — hand and wrist devices — will see a 5 percent growth by 2020.
3. The foot and ankle device market is expected to grow 10 percent year-over-year with the market segment projected to exceed a billion dollars by the end of next year.
4. Each segment in the market makes up around 20 percent to 30 percent of the market; there isn't one dominant project over another.
5. The shoulder reconstructive device market is expected to exceed the billion-dollar mark by 2017 with the reversed shoulder joint devices in the lead.
6. Reverse shoulder implants are anticipated to grow from representing 40 percent of the segment's revenue to 60 percent of the revenue by 2021.
7. There are 22 different companies holding notable market share in the small bone and joint orthopedic device market. DePuy Synthes leads four of the five segments in the small bone and joint orthopedic device market; their weak segment is staple fixation.
8. Other leading companies in the space include Acumed, Smith & Nephew, Zimmer, Tornier, Wright Medical, Stryker and Biomet.