Shoulder Replacement Market Size, Share & Trends Analysis Report By Type (Anatomical Shoulder Prosthesis , Reverse Shoulder Prosthesis), By Procedure (Resurfacing Hemiarthroplasty, Reverse Total Replacement, Stemmed Hemiarthroplasty, Total Shoulder Replacement), By End-Users (Hospitals, Orthopaedic Centres, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global shoulder replacement market size was valued at USD 2.5 billion in 2023 and is projected to reach USD 4.3 billion by 2032, registering a CAGR of 6.5% during the forecast period (2024-2032). The increasing number of replacement procedures is driven by the aging demographic and accidents and degenerative disorders, which are key factors contributing to the market's growth.

Shoulder replacement is a surgical intervention that substitutes the damaged parts of the shoulder joint with artificial implants. This procedure aims to alleviate discomfort and enhance the functionality of the shoulder. Surgical procedures are conducted on the shoulder joint, partially or entirely, to mend the glenohumeral joint using a metal and polyethylene prosthetic implant. Shoulder replacement has been a successful treatment choice for individuals with Osteoarthritis and other ailments, especially when conservative therapies have been unsuccessful.

The expanding geriatric population is driving the expansion of the shoulder arthroplasty market. The burgeoning appeal of structured athletic activities and the rising embrace of physical activity and wellness regimens will drive market expansion. Moreover, the progress in research and development capabilities, coupled with the increasing prevalence of shoulder injuries associated with sports, are expected to fuel the expansion of the market. Furthermore, the rising incidence of bone-related ailments among patients and a substantial population is expected to drive market expansion in the projected timeframe.

Highlights

• Anatomical shoulder prosthesis generates the highest revenue share based on type.
• Reverse total replacement accounts for the largest market share by procedure.
• Hospitals contribute significantly to the market through end users.

Market Dynamics

Global shoulder replacement market drivers:

Increase in incidence of arthritis among geriatric population

The worldwide elderly population is increasing at an unprecedented pace. An increase in symptomatic shoulder arthritis and proximal humerus rupture in the population is driving the global shoulder replacement market. The primary factor contributing to impairment among adults is the increasing prevalence of arthritis. In 2021, the National Institute for Health and Care Research (N.I.H.R.) performed an analysis based on nine publications. These studies included six papers that focused on patient-reported outcomes and data from 530 shoulder replacements, of which 529 were complete replacements and 364 were partial replacements. The National Joint Registry for Australia provided comprehensive data on 7,651 complete shoulder replacements, 7,953 reverse entire shoulder replacements, and 1,395 partial shoulder replacements, with a follow-up period of 10 years.

According to the N.I.H.R. analysis, 90% of shoulder joint replacements had a minimum lifespan of ten years. This is expected to drive the growth of the worldwide shoulder replacement market in the coming years. In a study conducted by Chintala Srilekha et al., published in the International Journal of Orthopedics Sciences in 2020, it was found that Osteoarthritis primarily afflicted individuals between the ages of 46 and 60 in South India.

Furthermore, the study revealed that females in this age group were more susceptible to Osteoarthritis than males. According to the United Nations' World Population Prospects: The 2021 Revision, the global population of those aged 65 years or older is projected to more than twice by 2050, increasing from 727 million in 2020 to 1.5 billion in 2050. The population group aged 65 years or older is experiencing more rapid growth rates than any younger age group worldwide.

Consequently, there is a global rise in the number of individuals who have arthritis, leading to an increased need for shoulder replacement procedures. Therefore, the increasing prevalence of arthritis, coupled with the growing elderly population, is predicted to drive the need for the shoulder replacement market. 

Global shoulder replacement market restraints:

High costs linked to shoulder replacement

Surgeries impede market expansion. Expenses consist of various factors, such as surgical procedures, implant fees, and postoperative care, all contributing to a significant financial burden. The economic burden can hinder the ability to undergo shoulder replacement surgeries, especially for persons with financial limitations, thereby impacting the market's growth. 

Additionally, the total shoulder arthroplasty procedure is associated with a significant financial burden, with average cost estimates ranging from USD 14,000 to USD 52,000 per individual. Complete shoulder replacement surgery costs vary depending on the specific surgical procedure employed. Furthermore, the expenses associated with shoulder replacement surgery are significantly greater in countries such as the U.S. and the U.K. than in nations like India, Mexico, and Costa Rica. This disparity in treatment costs is a significant obstacle to the expansion of the market.

Global shoulder replacement market opportunities:

Technological advancements in implant designs and materials

The ongoing development of medical technology has dramatically facilitated advancements in shoulder implant designs and materials. The longevity and performance of shoulder replacements have been enhanced by advancements such as anatomic and reverse shoulder implants and the utilization of durable and biocompatible materials like ceramics and polyethylene. This technical advancement improves patient outcomes, decreases postoperative problems, and increases the overall acceptance and implementation of shoulder replacement treatments. 

Growing adoption of shoulder replacement procedures in emerging countries

As per the 2020 B.M.J. Journal, there has been a rapid increase in shoulder replacement surgeries. The proportion of surgical procedures performed on individuals over 50 increased by more than 5.6 times, from 1,018 cases in 1998 to over 7,000 cases in 2019. Countries such as China, Brazil, Mexico, and other emerging economies are expected to offer substantial growth opportunities for the business.

Moreover, the need for shoulder replacement surgeries in these countries is likely to increase due to factors such as a significant number of patients, rapidly rising healthcare expenses, government efforts to support the healthcare industry, strengthening export trade, and increased awareness among medical professionals about the latest medical advancements in spine surgery and bone fracture treatments. To economize, numerous individuals from wealthy nations opt to travel to developing markets for medical treatment, which further adds to the market revenue. 

Regional Analysis

The global shoulder replacement market analysis is conducted across North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North america  dominates the global market

North America is the most significant global shoulder replacement market shareholder and is estimated to grow at a CAGR of 6.3% over the forecast period. In 2023, North America held the largest share of the worldwide shoulder replacement market. It is anticipated that the tendency will persist over the projected timeframe. The U.S. and Canada have become the greatest hubs for medical device businesses due to the significant presence of major international players.

Moreover, the progress in the healthcare systems of both countries is propelling the growth of the shoulder replacement market in North America. According to the 2020 data from the World Bank, approximately 16.9% of the American population was aged 65 or over. This percentage is projected to increase to 22% by the year 2050. It is estimated that the number of adults in the United States diagnosed with arthritis by a doctor will increase by 49% to reach a total of 78.4 million individuals, accounting for 25.9% of all adults.

Furthermore, as stated in a March 2020 research by Weinstein Legal, approximately 30 million children and adolescents engage in youth sports annually in the United States. This is expected to significantly contribute to the growth of the shoulder replacement devices market in the country. In August 2021, Johnson and Johnson launched the INHANCE Shoulder System, a comprehensive shoulder arthroplasty system. Surgeons can smoothly switch from stemless implants to stemmed implants during surgical operations. For these reasons, North America is expected to have a dominant position in the global market. 

Asia-Pacific is anticipated to exhibit a CAGR of 6.7% over the forecast period. The Asia Pacific region exhibits increased healthcare expenditure, resulting in significant growth opportunities for multinational corporations (M.N.C.s) and local medical device companies. Furthermore, the growing longevity of individuals in the area and increased disposable money have turned the Asia-Pacific into a highly advantageous location for several businesses, particularly healthcare.

As a result, this region has become increasingly attractive to international corporations seeking to engage in the abundant opportunities available. The increasing popularity of medical tourism, driven by affordable prices and supportive government laws that provide domestic producers an advantage in the Asian medical devices market, has made the Asia Pacific region more attractive for shoulder replacement procedures worldwide, particularly in implant types.

Segmental Analysis

The global shoulder replacement market is segmented based on type, procedure, and end-users. 

The market is segmented based on type into anatomical shoulder prosthesis and reverse shoulder prosthesis. 

The anatomical shoulder arthroplasty category will hold a significant share of the global Shoulder Replacement market 2023. Arthroplasty has emerged as one of the most reliable treatment options for degenerative joint conditions affecting the shoulder. Over the years, there have been significant advancements in implant designs to address initial challenges encountered in arthroplasty, such as restoring function and preventing prosthesis loosening. Anatomical shoulder arthroplasty has remained an excellent choice for individuals with Osteoarthritis and a functional rotator cuff.

Additionally, the International Osteoporosis Foundation (IOF) fosters awareness of European osteoporosis care. As per the article titled 'Trends in incidence and prevalence of osteoarthritis in the United Kingdom,' published by N.I.H., in 2020, Osteoarthritis in the United Kingdom was 6.8 per 1000 people. In contrast, the prevalence was around 10.7% during the year 2020, which will result in the growth of this segment.

Reverse shoulder prostheses are transforming the shoulder replacement industry by providing a solution for patients with intricate shoulder diseases, such as rotator cuff injuries and arthritis. Unlike conventional shoulder replacements, reverse prostheses alter the shoulder joint's structure by reversing it. This enables patients to restore function and relieve pain, even with a non-functional rotator cuff. This innovation broadens the patients who can undergo shoulder replacement surgery and stimulates market expansion by satisfying previously unfulfilled clinical requirements.

The market is segmented by procedure into Resurfacing Hemiarthroplasty, Reverse Total Replacement, Stemmed Hemiarthroplasty, and Total Shoulder Replacement. 

The reverse total replacement category is predicted to dominate the market by 2023. A reverse shoulder replacement involves reversing the positions of the prosthesis for the injured humeral and glenoid components of the shoulder. The device comprises a glenoid component and a humeral head. A unit corresponds to a single reverse shoulder replacement device. The reverse shoulder replacement market is anticipated to experience expansion throughout the projected period because of an upsurge in research and development efforts in reverse shoulder arthroplasty technology and economic progress in developing nations.

Resurfacing hemiarthroplasty is becoming a prominent sector in the market for shoulder replacements. Resurfacing hemiarthroplasty provides various advantages, including decreased likelihood of problems such as dislocation and enhanced range of motion. With the growing recognition of this technique and ongoing improvements in implant technology, an increasing number of patients and surgeons are choosing resurfacing hemiarthroplasty, driving the growth of the shoulder replacement market. 

Based on end users, the shoulder replacement market is segmented into Hospitals, Orthopaedic Centres, and Others.

The hospital segment is projected to develop rapidly in the global shoulder replacement market. Hospitals involved in the Shoulder Replacement Market may expand their capacity to meet more patients seeking these treatments. This may entail incorporating surgical facilities, specialized orthopedic teams, and state-of-the-art equipment. There has been a noticeable increase in establishing new healthcare facilities, particularly those equipped and capable of conducting shoulder replacement surgery. The increase in healthcare infrastructure directly responds to the rising need for these medical operations.

Orthopedic centers are the fastest-growing segment. Orthopedic centers are crucial in growing the shoulder replacement industry since they serve as central locations for expert care, diagnosis, and treatment. These centers offer a broad category of treatments, from initial assessment to surgical operations and postoperative rehabilitation. This ensures that patients receive personalized care throughout their shoulder replacement process. Orthopedic centers partner with medical device companies to enhance implant technology, hence promoting the expansion of the shoulder replacement market.

Recent Developments

• February 2024- Since 2007, Stryker collaborated with Project C.U.R.E. to contribute medical equipment and supplies to nations that lack sufficient resources. Project C.U.R.E., the largest global provider of donated medical equipment and supplies, distributes these resources to hospitals and clinics in over 135 countries worldwide.
• January 2024- Stryker enhanced its Gamma4 Hip Fracture Nailing System by introducing an intermediate nail, the R.C. Lag Screw, along with anti-rotation clip and sleeve components. Since its introduction in August 2022, the Gamma4 System has been utilized in over 19,000 instances throughout over 850 facilities, establishing its prominence as a top selection for orthopedic treatments.