The global joint replacement market is poised for significant growth, with projected sales reaching US$ 27 billion by 2032, up from US$ 17.1 billion in 2021. This anticipated expansion reflects a compound annual growth rate (CAGR) of 4.3% between 2022 and 2032, underscoring the increasing demand for advanced orthopedic solutions worldwide.
Among the various segments within the joint replacement market, knee replacement is expected to lead in revenue generation, with a predicted CAGR exceeding 4.1% from 2022 to 2032. This dominance underscores the substantial prevalence of knee-related disorders and the growing adoption of knee replacement procedures as an effective treatment modality.
Inform Decisions With a Report Sample:
https://www.futuremarketinsights.com/reports/sample/rep-gb-16281
This expansion is explained by a number of important factors:
- Population aging: As a result of the world’s population aging quickly, osteoarthritis and other joint-related disorders are becoming more common. The need for joint replacement surgery is predicted to increase gradually as the number of elderly people increases.
- Concentrate on knee replacements: It is projected that the knee replacement market will represent the largest share of the joint replacement market. The need for knee replacement surgery is rising as a result of increasing knee disorders brought on by aging, trauma, and obesity. This market is expanding as a result of developments in prosthetic knee designs and minimally invasive surgical methods.
- Technological advancements: The medical technology sector is continuously innovating, leading to the development of more durable and sophisticated joint replacements. These advancements offer patients improved functionality, mobility
Key Takeaways:
- The global joint replacement market reached a valuation of US$17.1 billion in 2021, according to a newly released analysis report by Future Market Insights.
- With a projected CAGR of 4.3% from 2022 to 2032, the market is expected to reach a staggering US$27 billion by 2032.
- Knee replacements are anticipated to be the highest revenue-generating segment, growing at a CAGR exceeding 4.1% from 2022 to 2032.
Competitive Analysis:
The joint replacement market is fragmented, with many large and small companies competing. Smith+Nephew, DJO, LLC, Johnson & Johnson Services Inc., Stryker, Zimmer Biomet, Arthrex Inc., Exactech Inc., Conformis, MicroPort Orthopedics, and Corin Group are some of the major players in the market.
Some of the recent developments of Joint Replacement Market key providers are as follows:
- In January 2022, Engage Surgical, the owner of the only cement-less unicompartmental knee system commercially accessible in the United States, was acquired by Smith+Nephew, a multinational medical technology business.
- In February 2021, MicroPort Orthopedics added hyaluronic acid-coated collared hip stems and affixed collared hip stems to their hip stems lineup.
- In January 2021, Stryker purchased OrthoSensor, Inc., a forerunner in the digital evolution of full joint replacement.
- In July 2018, Corin announced that it will offer the Trinity Dual Mobility System for Hip Replacement.
Understand Our Methodological Process:
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-16281
Key Companies Profiled:
- Johnson & Johnson Services, Inc.
- Stryker
- Zimmer Biomet
- Smith+Nephew
- DJO, LLC.
- Arthrex, Inc.
- Exactech, Inc.
- Conformis
- MicroPort Orthopedics
- Corin Group
Market Segments Covered in Joint Replacement Market Analysis:
By Replacement Type:
- Extremities
- Upper
- Lower
- Knees
- Hips
By Fixation Type:
- Cemented
- Cementless
- Hybrid
- Reverse Hybrid
By End-use:
- Hospitals
- Orthopedic Clinics
- Other End-uses
By Procedure Type:
- Total Replacement
- Partial Replacement
- Other Procedure Types
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
Act Now for Detailed Market Analysis: Purchase Now to Access: https://www.futuremarketinsights.com/checkout/16281
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube