South Korea’s shoulder replacement devices to make comeback in 2021
Reverse shoulder replacement surgeries stand to rise as elective procedures resume.
South Korea’s shoulder replacement devices market is projected to grow by 15% in 2021 as elective surgeries resume post-pandemic, according to a report from GlobalData. It is forecast to grow at a compound annual growth rate (CAGR) of 5.5% between 2021 and 2025.
The pandemic led to a drop in shoulder replacement procedures in 2020 as most of these procedures are elective. However, the reverse shoulder replacement surgery market is expected to witness a rise in 2021 as elective surgeries resume gradually in healthcare facilities.
Reverse shoulder replacement accounted for 60% of the market in 2020, according to GlobalData’s medical devices analyst Gokul Ravichandran.
“Increasing aging population, rising prevalence of arthritis, growing popularity of reverse shoulder replacements and technological advancements such as the availability of patient specific instrumentation (PSI) and computer assisted navigation are the major factors driving the shoulder replacement market in South Korea,” Ravichandran said.
Reverse shoulder replacement procedures are preferred as they have lower rates of post-operative complications, can be performed in day care facilities, and usually take less healing time than the traditional surgery methods, the report noted.
“With growing preference for an active lifestyle by the general population, companies are focussing on creating robust shoulder implant platforms featuring a single, modular product for use in total, reverse, hemi-, and revision shoulder arthroplasty,” Ravichandran added.