Global market sales are expected to reach US$ 17.1 billion in 2021, according to Future Market Insights joint replacement market analysis report. Market growth is projected to reach a value of US$ 27 billion by 2032, with a 4.3% compound annual growth rate (CAGR) from 2022 to 2032. The knee replacement market is predicted to be the most lucrative from 2022 to 2032, with a compound annual growth rate of more than 4.2%.
Joint reconstruction comes across as a remarkable part of global orthopedic devices vertical. The conditions adversely affecting joints are inclusive of all kinds of arthritis, bone degenerative diseases, osteoporosis, and the other injuries. It needs to be noted that these ailments no longer pertain to aging population. Sedentary lifestyles are responsible for these ailments.
Joint reconstruction encloses a broad spectrum of treatments like physiotherapy, surgeries, and pain management. The very first type of therapy preferred is that of ‘physiotherapy’. Though it caters to primary care, surgical procedures do prove to be permanent course of cure. Minimally invasive surgeries are preferred as they provide benefits like convenience factor for surgeons and patients alike, lesser timespan of hospital stay, and shorter ‘turnaround’ time. Artificial implants dominate the joint reconstruction devices market as they offer simple installation. Arthroscopes enable outpatient surgeries as well. Advanced tools include image magnifiers and pre-operative planning.
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Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Joint Reconstruction Devices Market’ through its dedicated team of analysts and consultants. The bottom-up approach is bound to go a long way regarding the rapport with clientele. Also, micros and macros have been efficiently worked upon.
Key Takeaways:
•North America holds more than 30% of the market share. This could be credited to the US housing a huge number of industry players.
•Europe stands second on the similar grounds and the status quo is expected to remain unchanged even going forward.
•The Asia-Pacific is expected to grow at the fastest rate in the joint reconstruction devices market. This could be attributed to FDI being approved by the governments of India and China. Japan is another country leading from the front.
•With increase in the number of distribution partners, Mexico and Brazil are expected to dominate joint reconstruction devices market for LATAM.
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Competitive Devices
•Smith + Nephew, in February 2022, did announce launching next generation handheld robotics platform called ‘CORI Surgical System’ at the commercial scale. It stands out from its counterparts with respect to compactness. Minimal set-up time along with portability implies that it could be moved from one theater to the other for optimizing patients’ flow via surgical units.
•Zimmer Biomet Holdings, Inc., in December 2020, did announce that it had completed acquisition of A&E Medical Corporation and its entire portfolio comprising sternal closure devices. They included cable systems, sternal sutures, and rigid fixation.
•DePuy Synthes, in March 2022, did acquire CUPTIMIZE Hip-Spine Analysis – a tool floated with the objective of better understanding and addressing effect of abnormal motion between pelvis and spine in certain patients who need THA (total hip arthroplasty). It improvises on surgical planning capabilities related to VELYS Hip Navigation (a solution from DePuy Synthes’ VELYS Digital Surgery platform for connected technologies).
•LimaCorporate, in October 2022, did receive approval from the US FDA for a new-fangled shoulder platform emphasized on glenoid baseplate. Humeral stem is 3D-printed in its entirety. This dental implant system, using patented TT (Trabecular Titanium) technology, does aim to obtain robust primary fixation with successful growth of secondary bone.
•Smith + nephew PLC, in September 2022, did launch OR3O dual mobility system for usage in revision and primary arthroplasty in Japan.
“With success with respect to rheumatoid arthritis and osteoarthritis, the global joint reconstruction devices market is bound to grow inadvertently in the near future”, says an analyst from Future Market Insights.
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How does the Report reconstruct itself?
•The research study is based on technology (joint reconstruction devices for joint replacement, joint reconstruction devices for osteotomy, joint reconstruction devices for arthroscopy, joint reconstruction devices for resurfacing, joint reconstruction devices for arthrodesis, and joint reconstruction devices for other technologies), and by type (knee joint reconstruction devices, hip joint reconstruction devices, shoulder joint reconstruction devices, ankle joint reconstruction devices, and other joint reconstruction devices).
•With growing occurrences of orthopedic diseases coupled with increasing geriatric population, the global joint reconstruction devices market is expected to witness a noteworthy CAGR in the near future.
Key Segments Covered In The Joint Reconstruction Devices Industry Survey
Joint Reconstruction Devices Market by Technology:
•Joint Reconstruction Devices for Joint Replacement
•Joint Reconstruction Devices for Osteotomy
•Joint Reconstruction Devices for Arthroscopy
•Joint Reconstruction Devices for Resurfacing
•Joint Reconstruction Devices for Arthrodesis
•Joint Reconstruction Devices for Other Technologies
Joint Reconstruction Devices Market by Type:
•Knee Joint Reconstruction Devices
•Hip Joint Reconstruction Devices
•Shoulder Joint Reconstruction Devices
•Ankle Joint Reconstruction Devices
•Other Joint Reconstruction Devices
Joint Reconstruction Devices Market by Region:
•North America Joint Reconstruction Devices Market
•Latin America Joint Reconstruction Devices Market
•Europe Joint Reconstruction Devices Market
•Asia Pacific Joint Reconstruction Devices Market
•Middle East & Africa Joint Reconstruction Devices Market
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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