Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Shoulder Replacement market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Shoulder Replacement industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Shoulder Replacement industry to benefit clients and increase the market sector. In recent years, the Shoulder Replacement industry has offered some of the most significant advantages to patients. Major players in the Shoulder Replacement market, including Johnson & Johnson, DJO, Integra LifeSciences, Smith and Nephew, Stryker, Zimmer Biomet, Arthrex, Lima, Wright Medical Group, Exactech, and B. Braun Melsungen, and others, are attempting to increase market demand by investing in research and development operations.
Stryker Corporation is an American company based in Kalamazoo, Michigan, producing medical technologies. Implants used in trauma and joint replacement surgeries, surgical equipment, endoscopic and communications systems, patient handling and emergency medical equipment, neurosurgical, neurovascular, and spinal devices, and other medical device products utilized by a range of medical specialists are among the products manufactured by Stryker. Most of Stryker's products are sold directly to physicians, hospitals, and other healthcare facilities in the US. Stryker goods are distributed internationally through a network of independent dealers and distributors and company-owned sales subsidiaries and branches in more than 100 countries.
In February 2022, Stryker launched the new Tornier Perform Humeral System in Europe and introduced the Tornier Shoulder Arthroplasty Portfolio.
Zimmer Biomet Holdings, Inc. is a publicly traded medical device company established in 1927 to produce aluminium splints. Its headquarters are in Warsaw, Indiana, and it is a part of the medical devices business cluster. Zimmer is responsible for designing, developing, manufacturing and marketing orthopaedic products, such as dental prostheses and artificial joints for the knee, hip, Shoulder, elbow, and leg.
The company has operations in more than 40 countries worldwide, including the US, Australia, Austria, Belgium, Canada, China, Czech Republic, Finland, France, Germany, India, Ireland, Israel, Italy, Japan, Latin America, Netherlands, Brazil, Poland, Portugal, Russia, South Africa, Spain, etc. and its products are sold in more than 100 countries. In September 2022, the FDA granted Zimmer Biomet Holding's Inc. (ZBH) 510 (k) clearance for their Identity Shoulder System, which is intended for anatomic, reverse, and revision shoulder replacement. The newest system in Zimmer Biomet's lineup of shoulder replacement systems is the Identity Shoulder System.
It is meant to enable surgeons to precisely plan and carry out a surgical procedure tailored to each patient.