Overview and Scope
Joint reconstruction devices are implantable medical devices that are used to operate as replacements for the shoulder joint, hip joint or knee joint to restore the function of a joint. A joint can be restored by resurfacing the bones.
Sizing and Forecast
The joint reconstruction devices and equipment market size has grown strongly in recent years. It will grow from $21.86 billion in 2023 to $23.62 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to advancement in technologies, strong economic growth in emerging markets and rise in healthcare expenditure.
The joint reconstruction devices and equipment market size is expected to see strong growth in the next few years. It will grow to $31.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to an increase in joint reconstruction disorders, rapid growth in the geriatric population and increase in joint replacement surgical procedures are expected. Major trends in the forecast period include developing iot enabled solutions for joint reconstruction surgery to carry out procedures without having any human interaction, using artificial intelligence to reduce costs and time, investing in developing in robotics products for joint reconstruction surgery, focusing on merger and acquisition activities for business expansion, and investing in 3d printing technology due to its significant improvement over the traditional joint reconstruction surgery.
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Segmentation & Regional Insights
The joint reconstruction devices and equipment market covered in this report is segmented –
1) By Product Type: Knee Reconstruction Devices, Hip Reconstruction Devices, Extremity Reconstruction Devices
2) By Application: Arthrodesis, Arthroscopy, Joint Replacement Surgery, Osteotomy, Resurfacing Surgery, Small Joint Surgery
3) By End User: Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers
North America was the largest region in the global joint reconstruction devices and equipment market in 2023. Asia-Pacific was the second largest market in joint reconstruction devices and equipment market. The regions covered in the joint reconstruction devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The presence of a large pool of patients in joint reconstruction diseases is driving the market. Patients are preferring joint replacement treatment instead of other treatments for joint diseases, because of increased safety and reliability. The rise in joint reconstruction diseases such as osteoarthritis, knee and hip injury, road accident, cartilage, and labral injury is increasing the patient pool. For instance, osteoarthritis is a common disorder of joints that mainly affects the geriatric population across the globe. This condition can be treated by joint replacement surgeries using orthopedic knee and hip implants surgery According to the Arthritis Foundation, about 67 million people are expected to suffer from arthritis by 2030. This rise in the patient pool for joint diseases is driving the demand for the joint reconstruction devices and equipment market, significantly impacting the market growth.
Key Industry Players
Major companies operating in the joint reconstruction devices and equipment market report are Stryker Corporation, Zimmer Biomet, Johnson & Johnson, Smith & Nephew, Globus Medical, DJO Global Inc., Aesculap Implant Systems LLC, Medtronic, CONMED Corporation, Össur, Allegra Orthopedics, DePuy Synthes, Tornier Inc., Corin Group Plc., Covidien plc, PolyNovo Limited, Exactech Inc., United Orthopedic Corporation, Victrex, Evonik, Royal DSM, Lepu Medical Technology Company (Beijing) Co. Ltd, Yuwell – Jiangsu Yuyue Medical Equipment & Supply Co. Ltd, Shanghai Runda Medical Technology Co. Ltd., GE Healthcare China Co. Ltd., Smiths Medical (Beijing) Co. Ltd., Nuvasive Inc., AAP Implantate AG, Waldemar Link GmbH & Co. KG, Amplitude SAS, Beznoska Company Ltd, Sanatmetal Ltd, Medin a.s., Collagen Matrix Inc., XpandOrtho, Integra Lifesciences, NEOORTHO, Manoel Amaral Baumer, Biomecânica, ORTOBIO, Ortosintese, IMPOL Próteses Ortopédicas, Wright Medical, B. Braun, Meril Life, Zimmer (Shaarani Group), Corin South Africa (Pty) Ltd, Medtronic Africa, EgiFix Medical
The joint reconstruction devices and equipment market report table of contents includes:
1. Executive Summary
- Joint Reconstruction Devices And Equipment Market Characteristics
- Joint Reconstruction Devices And Equipment Market Trends And Strategies
- Joint Reconstruction Devices And Equipment Market – Macro Economic Scenario
- Global Joint Reconstruction Devices And Equipment Market Size and Growth
.
- Global Joint Reconstruction Devices And Equipment Market Competitive Benchmarking
- Global Joint Reconstruction Devices And Equipment Market Competitive Dashboard
- Key Mergers And Acquisitions In The Joint Reconstruction Devices And Equipment Market
- Joint Reconstruction Devices And Equipment Market Future Outlook and Potential Analysis
- Appendix
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