Press Release: February 05, 2019
The minor orthopedic implants replacement market size is expected to grow around $2 billion by 2022 growing at more than 5% compound annual growth rate (CAGR). The growth in the minor orthopedic implants replacement market is mainly due to rising incidence of arthritis among elderly population, growing awareness towards replacement surgery and utilization of advanced materials such as cobalt, chromium and titanium for implant manufacturing.
Major trends in the minor orthopedic devices market include growing investments by major orthopedic implant manufacturing companies in emerging economies such as Brazil, India and China, increasing use of reverse shoulder arthroplasty and rising awareness for minor joint procedures among customers.
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Wright Medical group strategy is to completely focus in high growth extremities and biologic market through innovative products and technologies. To focus exclusively on extremities and biologic market, Wright had divested its large joint (hip/knee) business to Corin Orthopaedics Holdings Limited. Further Wright Medical group in 2017, acquired IMASCAP SAS, which develops software-based solutions for preoperative planning of shoulder replacement surgery
Wright Medical group had net revenues of $317.1 million from the minor orthopaedic implants segment for the financial year 2016, a 70% increase from the previous year, mainly due to the impact of the Wright/Tornier merger. Wright Medical group had a market capitalization of $ 2.4 billion as of January 2018.
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