Joint Replacement Market by Fixation Type, Joint Type, Material, Procedure, End-Use

List of Tables

[185 Pages Report] The Joint Replacement Market size was estimated at USD 18.25 billion in 2023 and expected to reach USD 19.22 billion in 2024, at a CAGR 5.45% to reach USD 26.47 billion by 2030.

Joint replacement is a surgical procedure in which damaged or dysfunctional joints are replaced with prosthetics. Joint replacement helps to relieve pain, improve mobility, and enhance the quality of life for individuals suffering from severe joint pain or degenerative joint diseases. The primary application of joint replacements is in the medical field, particularly in treating patients suffering from severe joint pain and immobility due to various conditions. The increased prevalence of osteoarthritis and rheumatoid arthritis, especially among the elderly population, is raising the need for joint replacement surgeries, creating a platform for market growth. Growing awareness about joint replacement surgeries and the availability of reimbursement policies associated with surgeries are further driving the market's growth. The availability of alternative treatment options and certain post-surgery complications and risks hamper the market growth. Rising innovations in surgical techniques and enhancements in prosthetic design that improve the outcomes of joint replacement surgeries are expected to create opportunities for market growth. Using materials that offer greater durability and compatibility with the human body is also expected to contribute to the market's growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 18.25 billion
Estimated Year [2024]	USD 19.22 billion
Forecast Year [2030]	USD 26.47 billion
CAGR (%)	5.45%

Regional Insights

Americas represents a highly developing landscape for joint replacement surgeries, primarily due to an increasing need to manage the rising prevalence of conditions including osteoarthritis and obesity that contribute to joint degeneration. Advanced healthcare infrastructure and higher healthcare expenditure also support a large market for both hip and knee replacement surgeries in the Americas. The APAC region is experiencing rapid growth in the joint replacement market due to an increasing elderly population, rising healthcare standards, and improving economic conditions contribute to this growth. Countries including China, India, and Japan have benefitted from the growing accessibility to healthcare facilities and a rising middle class willing to invest in health solutions, subsequently expanding the accessibility of joint replacement surgeries. Europe is a developing market for joint replacement with advanced healthcare systems and high awareness of joint replacement procedures. Supportive health insurance and reimbursement policies also contribute to the market growth in EMEA. The Middle East and Africa have a growing joint replacement market, influenced by improving healthcare infrastructure and government initiatives towards health services.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Joint Replacement Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Growing prevalence of orthopedic disorders and lower extremity conditions
- Increasing need for minimally invasive surgeries accompanied by the existence of improved implant materials
- Supportive reimbursements for small joint replacement

Market Restraints
- High cost associated with joint replacement and issues of product recalls

Market Opportunities
- Emergence of bio-based materials for joint replacements
- Advancements in robotic-assisted surgery technologies

Market Challenges
- Concerns associated with product compatibility

Market Segmentation Analysis
- Fixation Type: Growing usage of cemented fixation to provide immediate stability of the implant
- End-Use: High accessibility of joint replacement surgeries in hospitals due to availability of required infrastructure to facilitate longer recovery times

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Joint Replacement Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Joint Replacement Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Intellijoint Surgical Expands Market Reach with Intellijoint KNEE Approval in Japan

Intellijoint Surgical received regulatory approval in Japan for its innovative product, Intellijoint KNEE, marking a significant expansion in the global computer-assisted surgical navigation market. This technology offers orthopedic surgeons real-time, accurate measurements for surgical cutting guides during total knee replacements. It is adaptable to all implant brands, enhancing its integration into existing surgical workflows. [Published On: 2024-03-07]

FDA Approval Enhances Treatment for Early-Stage Knee Osteoarthritis

The U.S. Food and Drug Administration (FDA) approved the MISHA Knee System, an implantable device designed to alleviate symptoms of early-stage knee osteoarthritis. Specifically targeting patients experiencing persistent pain despite conventional nonsurgical interventions, such as weight loss and physical therapy, this device strategically reduces the weight-bearing load by one-third on the medial side of the knee, thereby lessening joint stress. Primarily aimed at patients not yet requiring total knee replacement, the MISHA Knee System is a transitional solution, potentially delaying the need for more invasive procedures and appealing particularly to younger, active individuals. [Published On: 2023-04-25]

Aster Medcity Introduces Robotic Technology for Knee Replacement Surgeries

Aster Medcity introduced a state-of-the-art, fully automated robot designed explicitly for high-precision knee replacement surgeries. Knee replacement surgery, typically advised for severe joint pain unresponsive to standard treatments, involves replacing the damaged joint surfaces to alleviate discomfort and improve mobility. This robotic system promises to refine this procedure by ensuring increased accuracy and potentially better patient recovery rates. [Published On: 2023-01-23]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Joint Replacement Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Joint Replacement Market, highlighting leading vendors and their innovative profiles. These include Aditi Corporation, Aesculap, Inc., Arthrex, Inc., B. Braun SE, Corin Group, DJO Global Inc., Exactech, Inc., Globus Medical, Inc., Integra LifeSciences Corporation, Johnson & Johnson Services, Inc., Kyocera Corporation, Medtronic PLC, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corporation, NuVasive Inc., Orthofix Medical Inc., Smith & Nephew PLC, Stryker Corporation, Uteshiya Medicare Private Limited, Wright Medical Group N.V., and Zimmer Biomet Holdings, Inc..

Market Segmentation & Coverage

This research report categorizes the Joint Replacement Market to forecast the revenues and analyze trends in each of the following sub-markets:

Fixation Type
- Cemented
- Cementless
- Hybrid
- Reverse Hybrid

Joint Type
- Ankle Replacement
- Finger or Hand Joints Replacement
- Hip Replacement
- Knee Replacement
- Shoulder Replacement

Material
- Ceramic on Ceramic
- Ceramic on Plastic
- Metal on Metal
- Metal on Plastic

Procedure
- Partial Replacement
- Revision Joint Replacement
- Total Replacement

End-Use
- Ambulatory Surgical Centers
- Hospitals
- Orthopedic Clinics

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-C2718791421F

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing prevalence of orthopedic disorders and lower extremity conditions
  - 5.1.1.2. Increasing need for minimally invasive surgeries accompanied by the existence of improved implant materials
  - 5.1.1.3. Supportive reimbursements for small joint replacement
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with joint replacement and issues of product recalls
- 5.1.3. Opportunities
  - 5.1.3.1. Emergence of bio-based materials for joint replacements
  - 5.1.3.2. Advancements in robotic-assisted surgery technologies
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with product compatibility
5.2. Market Segmentation Analysis
- 5.2.1. Fixation Type: Growing usage of cemented fixation to provide immediate stability of the implant
- 5.2.2. End-Use: High accessibility of joint replacement surgeries in hospitals due to availability of required infrastructure to facilitate longer recovery times
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Joint Replacement Market, by Fixation Type

6.1. Introduction
6.2. Cemented
6.3. Cementless
6.4. Hybrid
6.5. Reverse Hybrid

7. Joint Replacement Market, by Joint Type

7.1. Introduction
7.2. Ankle Replacement
7.3. Finger or Hand Joints Replacement
7.4. Hip Replacement
7.5. Knee Replacement
7.6. Shoulder Replacement

8. Joint Replacement Market, by Material

8.1. Introduction
8.2. Ceramic on Ceramic
8.3. Ceramic on Plastic
8.4. Metal on Metal
8.5. Metal on Plastic

9. Joint Replacement Market, by Procedure

9.1. Introduction
9.2. Partial Replacement
9.3. Revision Joint Replacement
9.4. Total Replacement

10. Joint Replacement Market, by End-Use

10.1. Introduction
10.2. Ambulatory Surgical Centers
10.3. Hospitals
10.4. Orthopedic Clinics

11. Americas Joint Replacement Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Joint Replacement Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Joint Replacement Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Intellijoint Surgical Expands Market Reach with Intellijoint KNEE Approval in Japan
- 14.3.2. FDA Approval Enhances Treatment for Early-Stage Knee Osteoarthritis
- 14.3.3. Aster Medcity Introduces Robotic Technology for Knee Replacement Surgeries
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio