Furthermore, the market will reach a valuation of $10.1 billion by 2024, as per the estimates of P&S Intelligence, a market research company based in India. The rising prevalence of arthritis, the surging population of geriatric people, and the increasing incidence of osteoporosis are the major market growth drivers.

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The occurrence rate of arthritis is growing explosively all over the world and this is massively pushing up the requirement for small joint reconstructive implants around the world. As per the Arthritis Foundation, in the U.S., arthritis is the major cause of disability in adults. Furthermore, around 300,000 babies and children suffer from arthritis or a rheumatic disorder in the country. The organization also estimates that over 74 million people in the country will be diagnosed with arthritis by 2040.

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Depending on type, the small joint reconstructive implants market is classified into foot and ankle, hand and wrist, and staple fixation. Out of these, the hand and wrist category is currently holding the highest market share, on account of the fact that hands and wrists are highly vulnerable to injuries because of accidents and sports activities. When material is taken into consideration, the market is divided into polymer and metal.

Between these, the polymer category is predicted to demonstrate faster growth in the market in the future years. This will be because of the fact that the implants built from polymers are highly biocompatible and rarely cause any infections or side-effects in patients. However, the highest market growth will be exhibited by the metallic implants category in the upcoming years. This is credited to the lower costs of these implants in comparison to the polymer-based ones.

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Therefore, it can be said without any hesitation that the market will grow explosively all over the world in the forthcoming years, mainly because of the rising incidence of arthritis and osteoporosis and the rapidly surging geriatric population in several countries.