Global Shoulder Replacement Market Size

Statistics for the 2023 & 2024 Global Shoulder Replacement market size, created by Mordor Intelligence™ Industry Reports. Global Shoulder Replacement size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Global Shoulder Replacement Industry

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Shoulder Replacement Market
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 8.16 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

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Shoulder Replacement Market Analysis

The shoulder replacement market is projected to register a CAGR of 8.16% during the forecast period (2022 - 2027).

COVID-19 has had a great impact on the overall healthcare industry. With that, in healthcare facilities, the treatment was shifted from orthopedic procedures to COVID-19 patients, which also affected the market growth. Along with that, in a few regions, the orthopedic and small hospitals were shut down or their operations had been limited, and other hospitals were being converted to containment facilities and treatment wards for COVID-19 patients. The inevitable pausing of all elective surgeries has limited hands-on practice and exposure to a number of procedures. Amid the pandemic, the procurement of medical equipment has been on hold by a significant portion of hospitals performing surgeries. All these factors are likely to impact market growth.

The increasing incidence of arthritis is the leading cause of disability among adults and the geriatric population globally. Moreover, a study conducted by National Institute for Health and Care Research (NIHR) in 2021 showed that the analysis was based on nine studies (including 529 total and 364 partial shoulder replacements); plus six articles about patient-reported outcomes (of 530 shoulder replacements). An Australian national joint registry that provided 10-year follow-up (on 7,651 total, 7,953 reverse total, and 1,395 partial shoulder replacements) was also included. The findings also revealed that nine out of ten shoulder replacements last for at least a decade, which may ultimately boost the growth of the shoulder replacement market.

According to a prospective and retrospective observational study by Chintala Srilekha et al., published in the International Journal of Orthopedics Sciences 2020, in South India, people aged between 46-60 years were most affected by osteoarthritis and among them, females were more affected than men. Moreover, As per the data from World Population Prospects: The 2021 Revision published by the United Nations, the number of older people aged 65 years or above, is expected to more than double by 2050 globally, rising from 727 million in 2020 to 1.5 billion in 2050. Globally, the population group aged 65 years or over is registering faster growth rates than all younger age groups. Hence, the number of arthritis patients is increasing worldwide and as the patient pool increases, the demand for shoulder replacement also increases. Hence, the growing arthritis burden, along with the rising aging population is likely to increase the demand for the shoulder replacement market.

Shoulder Replacement Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)