As the Japanese population continues to age, the orthopedic device market continues to grow, according to reports from iData research.
Here's five takeaways.
1. Hand and wrist devices make up 70 percent of the total market for orthopedic devices, with the segment expected to exceed $125 million by 2022. Shoulder reconstruction is the second largest device market.
2. The use of reverse shoulder implants has caused a major pivot in the shoulder reconstruction market. The technology has been widely used in the United States, and is now breaking into the Japanese market.
3. Japanese doctors have loyalty to Japanese manufactured products, but international companies are making significant headway into the market.
4. DePuy Synthes led the small bone and joint market. Because DePuy has few competitors in market, it has seen the most growth in its shoulder reconstruction product line.
5. Acumed is the leader in the hand and wrist device market, and Stryker is present in all markets and is working to threaten Acumed's market share. Stryker is also present in the elbow reconstruction market.
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