According to a new report, published by KBV research, The Global Upper Extremity Implants Market size is expected to reach $2.3 billion by 2029, rising at a market growth of 6.2% CAGR during the forecast period.
The Metallic Biomaterials segment acquired maximum revenue share the Global Upper Extremity Implants Market by Material in 2022 thereby achieving a market value of $1 billion by 2029. This is due to the enhanced qualities of metallic biomaterials, including suitable strength, ductility, hardness, fracture toughness, corrosion resistance, and biocompatibility. Additionally, the demand for metallic materials like stainless steels, alloys based on titanium (Ti), alloys based on cobalt (Co), and biodegradable alloys such as alloys based on magnesium has boosted the segment's growth.
The Elbow segment is showcasing a CAGR of 6.5% during (2023 - 2029). This is because constant innovation in new elbow implant systems drives the elbow segment. In addition, the demand for implants in primary and revision surgery for elbow replacement has also boosted the growth. Thus, the above-mentioned factors joined with the growing number of accidents and traumas, are anticipated to propel the segment's expansion in the projected period.
The Hospitals segment is leading the Global Upper Extremity Implants Market by End-use in 2022 thereby, achieving a market value of $1.2 billion by 2029. This is owing to the increasing injury rates of the various upper extremities and the need for surgical treatment of fractures. A contributing aspect to the overall growth is the growing interest in treating upper extremity injuries brought on by sports-related trauma. In addition, hospitals have seen a surge in demand for the items over the predicted period as a result of the market's products' comprehensive services to eradicate harm and restore function, thereby aiding the segment's growth.
The North America market dominated the Global Upper Extremity Implants Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $1 billion by 2029. The Europe market is exhibiting a CAGR of 5.8% during (2023 - 2029). Additionally, The Asia Pacific market would showcase a CAGR of 7.2% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/upper-extremity-implants-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Stryker Corporation, DePuy Synthes (Johnson & Johnson), Zimmer Biomet Holdings, Inc., Smith & Nephew PLC, Medtronic PLC, Aesculap, Inc. (B. Braun Melsungen AG), DJO Global (Enovis Corporation), Ossur Hf., Acumed LLC (Colson Medical, Inc.) and Arthrex, Inc.
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