Albany, NY (PRWEB) February 21, 2014
The extremity products market lacks a clear market definition as some of the companies generally combine some other segments, like small joint trauma market, joint replacement and reconstruction market, small joint sports medicine market and extremity biologics market in the extremities market. This lack of proper market definition poses a challenge to the exact market sizing, but on a general basis, the extremity products involve the shoulder and small joints implants. The extremity market can be sub-divided into two categories: lower and upper extremities, where lower extremities mainly involve ankle, foot and upper extremities involve shoulder, hand, elbow, and wrist. Shoulder replacement is the largest segment among all in the extremities market, followed by foot and ankle segment.
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The extremity segment holds a very small share in the global orthopedic market, as the focus has been mainly on large joints like spine, knee and hip. However, it is one of the fastest growing segment and further opportunities are definitely mounting in this space. While the mature spine, knees and hip segment of the orthopedic industry are growing by low single digit rates due to a variety of challenges, some sectors of extremity are growing at double digit rates. The market is projected to grow further in years to come and become more specialized due to economic, social and demographic trends. The extremities market growth will be driven by the increasing incidence of arthritis, the increasing ageing population, growing obese and diabetic patients advances in technology and rising efforts of manufacturers to educate surgeons and increase patient awareness. Ongoing mergers and acquisitions and development of innovative extremity devices and implants are the key trends observed in this market.
This report analyzes the development of the global extremities market, with a focus on its segments including: upper extremity and lower extremity. The global market as well as US market is being discussed in the report. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The four major players in the industry, Johnson & Johnson (DePuy), Tornier N.V., Zimmer and Wright Medical are being profiled, along with their key financials and strategies for growth.
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By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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