The global Joint Reconstruction Devices Market is expected to reach USD 36.81 Billion by 2027, according to a new report by Emergen Research.
The global Joint Reconstruction Devices Market is expected to reach USD 36.81 Billion by 2027, according to a new report by Emergen Research. Increasing prevalence of osteoarthritis and other degenerative diseases is anticipated to boost the market growth. In addition, technological advancements in the field of joint reconstruction devices are projected to provide a positive outlook for the market in the near future.
The rising number of sports injuries is also expected to contribute significantly to the market growth over the forecast period. According to the National Athletic Trainers’ Association, in 2017, around 2.6 million children between the ages of 5 and 18 years were treated in emergency rooms for sports-related injuries. Furthermore, according to the U.S. Consumer Product Safety Commission (CPSC), in 2018, there were nearly 467,000 people treated in hospital emergency rooms for injuries associated with in-line skating.
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The high use of minimally invasive medicine in orthopedics has resulted in significant economic benefits by reducing hospital stays and surgical site infections. Joint reconstruction is an effective technique used in treating patients with joint disorders related to trauma, degenerative diseases, or congenital abnormalities. Various types of joint reconstruction devices such as hip, knee, shoulder, elbow, small joints, biologics, and others are used to treat different types of joint disorders.
Technological advancements have played a major role in bringing about significant changes in the field of medicine. This factor is also projected to fuel the growth of the joint reconstruction devices market during the forecast period. The development of new and innovative products by key players is expected to create lucrative opportunities for market growth. For instance, in June 2018, Wright Medical Group N.V., a global leader of orthopaedic medical device solutions, launched its new Augment Bone Graft in the U.S. The product is used for treating focal defects or voids in the extremities that are not suitable for internal or external fixation.
A huge amount of R&D is focused on developing biocompatible substitutes for the cartilage and bone. The ever-increasing geriatric population and their demand for better quality of life is fuelling the need for joint reconstruction devices globally. Apart from this, increasing awareness among people, improving healthcare facilities, and availability of reimbursement policies in some countries are other key factors driving market growth.
Some Key Highlights from the Report
- The ankle type segment accounted for largest revenue share in 2021 due to rising incidence of trauma cases, diabetes and obesity. According to the National Institute of Trauma & Orthopaedic Surgeons (NITOS), in 2017, ankle injury was the most common musculoskeletal injury requiring hospitalization in England with nearly 17% of all orthopedic admissions.
- In terms of revenue, the hip type segment is projected to expand at the highest CAGR over the forecast period owing to growing awareness about early diagnosis and treatment of hip-related issues. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2015, nearly 317,000 hip replacements were performed in the U.S.
- The arthroscopy technique segment accounted for largest revenue share in 2021 due to rising prevalence of knee, shoulder, hip and spine disorders. According to National Institute of Health in 2017, over 50 million adults in U.S have been diagnosed with arthritis or other rheumatologic conditions such as gout, lupus or fibromyalgia.
- The trauma fixation devices segment is projected to expand at fastest CAGR over the forecast period due to rising number of accidents and sports injuries. According to National Highway Traffic Safety Administration in 2017, over 6 million automobile accidents occurred in U.S.
- The hospital pharmacies segment is projected to account for largest revenue share in the global joint reconstruction devices market due to easy availability of products and services. According to American Hospital Association in 2017, there were around 5,534 community hospitals in U.S.
- North America is projected to account for largest revenue share in the global joint reconstruction devices market due to rising prevalence of orthopedic disorders and availability of advanced healthcare infrastructure & facilities. According to National Institute of Health in 2016, over 30 million adults in U.S. have been diagnosed with arthritis.
- Aesculap Implant Systems LLC, Stryker, Smith & Nephew, Medtronic, CONMED Corporation, Zimmer-Biomet, DJO Global Inc., DePuy Synthes Companies, Microport Scientific Corporation, and others are notable participants.
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Emergen Research has segmented the global Joint Reconstruction Devices Market on the basis of type, technique, application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Knee
- Hip
- Shoulder
- Ankle
- Others
Technique Outlook (Revenue, USD Billion; 2017-2027)
- Joint replacement
- Osteotomy
- Arthroscopy
- Resurfacing
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals
- Orthopedic Clinic
- Ambulatory Surgical Centers
- Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- US.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
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