Joint Reconstruction Market Trend- Increasing Incidence of Chronic Orthopedic Diseases Such as Rheumatoid Arthritis, Osteoarthritis, Osteoarthritis

Increasing incidence of chronic orthopedic diseases such as rheumatoid arthritis, osteoarthritis, osteoarthritis, rising geriatric population, and increasing funds by public and private organizations are expected to drive global market growth

According to Emergen Research, the global joint reconstruction market size was USD 29.43 billion in 2020 and is expected to reach USD 47.98 billion in 2028 and register a steady CAGR of 6.2% during the forecast period, 2021-2028.

Market Dynamics:

Joint reconstruction is a surgical procedure used for repairing and restoring the full function of a damaged joint. It ranges from minor joint repairs to total joint replacement, accompanied by other treatments such as physiotherapy and pain management. Joints can be damaged as a result of old age due to normal wear and tear, road accidents, or chronic bone diseases. Over the recent years, there have been rapid advancements in joint reconstruction devices and surgical techniques. Arthroscopy, joint replacement surgery, synovectomy, arthrodesis, and osteotomy are some of the commonly used joint reconstruction surgeries. Factors such as increasing demand for minimally invasive surgical procedures, growing awareness about the benefits of joint reconstruction surgeries, availability of wide range of implants for hips, knees, and extremities, and high focus on developing more advanced products are expected to drive global market revenue growth during the forecast period.

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However, factors such as growing inclination toward cost-effective alternatives, lack of skilled healthcare professionals, low awareness about joint replacement treatments in many developing and underdeveloped economies, and rising number of product recalls can hamper the overall market growth to a certain extent during the forecast period. In addition, high cost of joint reconstruction devices, and high risks associated with biocompatibility are other factors that can restrain market growth between 2021 and 2028.

COVID-19 Impact Analysis

• Social distancing and restrictions severely disrupted businesses and operations
• Lockdowns caused disruptions in transportation and logistics
• Impacted manufacturing activities and mining operations globally
• Took a toll on economy of various countries
• Caused sudden and drastic downturn in economic activity
• Disrupted agriculture, fisheries, dairy, and other sectors
• Caused loss of employment and financial crisis
• Supply impacts were further compounded owing to reduced disposable income
• Emergence of variants continue to cause concerns and impact normal routines

Hospital Segment To Register Rapid Revenue Growth:

The hospital segment revenue is expected to expand at rapid growth over the forecast period owing to increasing patient admission, rising adoption of advanced equipment and devices, improving healthcare infrastructure, and growing inclination towards minimally invasive surgeries.

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Joint Replacement Segment to Account for Largest Revenue Share:

The joint replacement segment is expected to account for largest revenue share between 2021 and 2028. This can be attributed to factors such as increasing prevalence of various orthopedic disorders, rising number of road accidents, availability of various types of artificial implants, and growing demand for advanced joint replacement devices across medium to large scale hospitals, orthotic & prosthetic centers, and surgical centers.

North America to Lead In Terms of Revenue Share:

North America is expected to dominate other regional markets in terms of revenue share during the forecast period owing to increasing prevalence of chronic joint aliments and other orthopedic diseases, rising geriatric population, and availability of advanced treatment facilities in most hospitals, prosthetic centers, and clinics across the region. In addition, increasing awareness about the importance of joint reconstruction procedures, rising incidence of road accidents and sports-related injuries and high focus on developing advanced products and devices are expected to drive North America market growth going ahead.

Major Companies in the Market Include:

• Aesculap Implant Systems LLC
• Zimmer-Biomet Holdings Inc.
• Smith and Nephew
• Stryker Corporation
• DePuy Synthes
• Medtronic Inc.
• Omni Life Science
• CONMED Corporation
• Arthrex Inc.
• Wright Medical Technology Inc.

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Scope of Joint Reconstruction Research

For the purpose of this report, Emergen Research has segmented the global joint reconstruction market based on joint type, technique, end-use, and region:

Joint Type Outlook (Revenue: USD Billion; 2018–2028)

• Shoulder
• Knee
• Ankle
• Hip
• Others

Technique Outlook (Revenue: USD Billion; 2018–2028)

• Joint Replacement
• Arthroscopy
• Resurfacing
• Osteotomy
• Others

End-use Outlook (Revenue: USD Billion; 2018–2028)

• Hospitals
• Clinics
• Orthotic & Prosthetic Centers
• Surgical Centers
• Others

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Regional Outlook (Revenue: USD Billion; 2018–2028)

North America

• U.S.
• Canada
• Mexico

Europe

• Russia
• UK
• Germany
• France
• BENELUX

Asia Pacific

• China
• India
• Japan
• South Korea
• Rest of APAC

Latin America

• Brazil
• Rest of LATAM

Middle East & Africa

• Saudi Arabia
• UAE
• Israel
• Rest of MEA

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