Global joint reconstruction devices market is expected to reach from USD 19.38 Billion in 2017 to USD 28.47 Billion by 2025 at a CAGR of 5.10% from 2018 to 2025. Rising patient population and technological advancements in hip and knee implantation such as robotic-assisted surgeries, and 3D printing are further boosting the market growth.
Joint replacement involves a surgical procedure for damaged joints caused by diseases such as osteoarthritis, post-traumatic arthritis, or rheumatoid arthritis or due to an accident. Damaged joints are replaced with a metal, plastic or ceramic device. A wide range of treatments is used for these conditions such as pain management, physiotherapy, and surgeries. Surgical procedures are most preferred, and there is a demand for minimally invasive surgeries. Shorter time, lesser duration of hospital stay are driving the growth of the market. Increasing aging population affected by knee joint disorders is increasing which in turn is supporting the demand for joint surgeries.
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- The base year for the study has been considered 2017, the historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The joint reconstruction devices market is analyzed by value (USD Billion).
- The study delivers a comprehensive analysis of global joint reconstruction devices market by technique, type, end user and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the global joint reconstruction devices market. This report incorporates the industry analysis which is focused on providing an extensive view of the joint reconstruction devices market.
- The study also includes attractiveness analysis technique, type, end user and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the joint reconstruction devices market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Increasing patient pool
- Increasing demand for customized knee implants
- Rising demand for minimally invasive diagnostic and surgical techniques
- Unhealthy lifestyle and dietary habits leading to various joint issues
- The high cost associated with the procedure
- Increasing awareness about non-surgical methods
- Growing elderly population and large patient base in developing economies
- Product recalls by regulatory authorities
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. NorthAmerica region dominated the marketand held the largest market share of 52.81% in 2017. High prevalence of joint-related conditions, presence of a large number of industry players, and favourable healthcare policies. These factors generating demand for advanced options.According to the United States Census Bureau, in 2016 around 49.2 million adults aged 65 and above are in the U.S. Similarly, according to the Center for Disease Control and Prevention around USD 3.2 trillion was spent on healthcare expenditure in the U.Sin 2015.
Prominent industry players operating in the market include Stryker, Medtronic, Zimmer-Biomet, Aesculap Implant Systems, LLC, Smith and Nephew, DePuySynthes, CONMED Corporation, Nuvasive, Inc., DJO Global, Inc., Arthrex, Inc., ConforMIS, Waldemar LINK GmbH & Co. KG, B. Braun Melsungen AG, Kinamed, Inc., Allegra Orthopaedics Limited, Exactech, Inc.among others.
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