Elbow Replacement Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Elbow Replacement Market Analysis
The elbow replacement market is expected to record a CAGR of 3.5% over the forecast period (2022-2027).
COVID-19 had a significant impact on the overall healthcare industry. As per the article published in 2020 under the title 'How the Covid-19 pandemic affected shoulder and elbow practice in Turkey?', a more than 75% decrease in surgical and outpatient clinical activity in elbow practice was documented during COVID-19. The rate of obtaining informed consent remained low, and half of the respondents used telemedicine. Moreover, as per the article published in 2020 under the title 'COVID-19 - Changes in the presentation and management of shoulder and elbow trauma in a UK district general hospital orthopaedic department', there was a significant change in the upper limb caseload. Certain injuries have been reduced, likely due to the COVID-19 lockdown. Hence, as per the factors mentioned above, COVID-19 has a significant impact on the elbow replacement market.
The damaged parts of the elbow are replaced with artificial elbow devices through surgery which is known as elbow replacement. The growth is mainly driven by technological advancements and the growing burden of diseases such as osteoarthritis and rheumatoid arthritis. For instance, as per the Centers for Disease Control and Prevention report, the projected prevalence of rheumatoid arthritis in the United States is 76 million by 2040. Due to the high estimated prevalence of rheumatoid arthritis, the probability of elbow replacement is projected to rise in the upcoming year thereby fueling the market.
Increased research and development initiatives, and government funding in the field of orthopedic area boost the market growth. For instance, as per the article published in 2022 under the title 'How long does an elbow replacement last? A systematic review and meta-analysis of case-series and national registry reports with more than 10 years of follow-up', over 80% of all elbow replacements and over 90% of linked elbow replacements are anticipated to last more than 10 years with sustained patient-reported benefits. Hence, owing to the increased benefit and durability associated with elbow replacements, the chance of adopting elbow replacement is high and thus boosting the market growth.
As per the aforementioned factors, the healthcare mobility solutions market is likely to grow over the forecast period. However, safety and security issues associated with patient health information and a lack of skilled professionals restrain the market growth.
Elbow Replacement Market Trends
This section covers the major market trends shaping the Elbow Replacement Market according to our research experts:
Total Elbow Replacement Segment is Expected to Show Better Growth in the Forecast Years
In total elbow replacement surgery, the damaged parts of the humerus and ulna are replaced with artificial components. The segment is anticipated to grow at a significant rate due to an increase in the number of patients, advancing technologies, and the rising prevalence of arthritis. As per the Centers for Disease Control and Prevention (CDC), in 2020, around 63 million U.S. adults had doctor-diagnosed arthritis. Arthritis is the leading cause of disability, stiffness, and swelling of the joints, which usually occurs in older people, resulting in high demand for elbow replacement surgeries. Pertaining to these factors, the market is expected to grow over the forecast period.
The presence of competitors, research initiatives, and government funding fuels the market growth. For instance, in October 2021, the Advanced orthopedic center conducted a health campaign intended to increase public awareness of the importance of prevention, management, and treatment of bone and joint conditions. Furthermore, as per the 2021 update from Mayo Clinic, after elbow replacement, most people have less pain than they did before surgery. Many people have no pain and most people also have an improved range of motion and strength.
Because of the aforementioned factors, the total elbow replacement segment is likely to face growth over the forecast period.
North America Dominates the Elbow Replacement Market
The elbow replacement market dominates North America due to a sedentary lifestyle, the growing burden of rheumatoid arthritis, and elbow injuries. For instance, as per the 2021 report from CDC, women are more prone to arthritis, and also by 2040, an estimated 34.6 million adults (43.2% of adults with arthritis or 11.4% of all US adults) is likely to report arthritis-attributable activity limitations.
Furthermore, advanced technology, a rise in awareness among people toward extremities implants, and developed healthcare infrastructure, and increased product launches are estimated to propel the elbow replacement market in the region. For instance, in 2020, DePuy Synthes launched a radial head replacement for use in patients with destabilizing radial head fractures that cannot be repaired. The system includes Radiolucent Trials to allow for direct and radiographic visualization of the elbow joint during trialing.
Moreover, increased awareness regarding bone health boost the market growth. For instance, in May 2022, the Canadian Orthopaedic Association inaugurated 'Canadian Orthopaedic Care Day' across Canada. A new initiative by AdvoOrtho, powered by the Canadian Orthopaedic Association, Canadian Orthopaedic Care Day, is likely to occur annually on the last Wednesday of March to raise awareness and celebrate Orthopaedic care in Canada.
As per the factors mentioned above, North America is expected to witness growth over the forecast period.
Elbow Replacement Industry Overview
The elbow replacement market is moderately fragmented in nature due to the presence of several companies operating globally as well as regionally. The global players in the elbow replacement market are Smith & Nephew, Johnson & Johnson, Ottobock SE & Co. KGaA, Stryker Corporation, Wright Medical Group N.V., and Zimmer Biomet.
Elbow Replacement Market Leaders
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Johnson & Johnson
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Stryker Corporation
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Zimmer Biomet
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Wright Medical Group N.V
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Smith & Nephew
*Disclaimer: Major Players sorted in no particular order
Elbow Replacement Market News
- In August 2022, OSSIO, Inc., an orthopedic fixation technology company, launched OSSIOfiber Suture Anchors, expanding patient access to the company's growing portfolio of bio-integrative implants for use in foot/ankle, shoulder, knee, hand/wrist, and elbow surgery.
- In May 2022, the University of Valencia sponsored a clinical trial under the title "Effects of Dual Task on Physical Function in Patients With Elbow Joint Fracture (DTelbow)" and the purpose of the study is to evaluate neuromuscular responses, pain intensity, and RPE in patients with elbow joint fracture, with or without surgical approach, with different strategies to strengthen the upper limb.
Elbow Replacement Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Arthritis
4.2.2 Technological Advancements
4.2.3 Increased Awareness of the Procedure
4.3 Market Restraints
4.3.1 Availability of Alternatives
4.3.2 High Cost of the Procedure
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Product
5.1.1 Partial Elbow Replacement
5.1.2 Total Elbow Replacement
5.2 By End User
5.2.1 Hospitals
5.2.2 Orthopedic Centers
5.2.3 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Smith & Nephew
6.1.2 Johnson & Johnson
6.1.3 Lima Corporate
6.1.4 Ottobock SE & Co. KGaA
6.1.5 Stryker Corporation
6.1.6 Wright Medical Group N.V.
6.1.7 Zimmer Biomet
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Elbow Replacement Industry Segmentation
As per the scope of the report, In elbow replacement, the physician replaces the elbow with an artificial joint made from two implants that attach to the bones in the arm. A metal and plastic hinge joins the implants together. The Elbow Replacement Market is segmented by Product (Partial Elbow Replacement, and Total Elbow Replacement), End User (Hospitals, Orthopedic Centers, Others), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Product | |
| Partial Elbow Replacement | |
| Total Elbow Replacement |
| By End User | |
| Hospitals | |
| Orthopedic Centers | |
| Others |
| Geography | ||||||||
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Elbow Replacement Market Research FAQs
What is the current Global Elbow Replacement Market size?
The Global Elbow Replacement Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in Global Elbow Replacement Market?
Johnson & Johnson, Stryker Corporation, Zimmer Biomet, Wright Medical Group N.V and Smith & Nephew are the major companies operating in the Global Elbow Replacement Market.
Which is the fastest growing region in Global Elbow Replacement Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Elbow Replacement Market?
In 2024, the North America accounts for the largest market share in Global Elbow Replacement Market.
What years does this Global Elbow Replacement Market cover?
The report covers the Global Elbow Replacement Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Elbow Replacement Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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