Global Joint Reconstruction Devices Market 2023-2030

Description

List of Tables

Global Joint Reconstruction Devices Market Size, Share & Trends Analysis Report by Technique (Joint Replacement, Osteotomy, Arthroscopy, Resurfacing and Arthrodesis), and by Joint Type (Knee, Hip, Shoulder, Ankle, and Others), Forecast Period (2023-2030)

The global joint reconstruction devices market is anticipated to grow at a CAGR of 4.3% during the forecast period (2023-2030). Significant factors attributed to market growth including growing aging population, increasing prevalence of osteoarthritis, minimally invasive techniques, and an increasing number of large joint reconstruction surgeries. With the growing prevalence of orthopedic diseases such as arthritis, osteoporosis, knee injuries, among others, consequential in damage to bones and serious cases, joint reconstruction surgery is the eventual treatment available. In December 2021, Work-Related Musculoskeletal Disorders Statistics in Great Britain reported that 470,000 workers suffered from work-related musculoskeletal disorders (new or long-standing) in 2020/21. This represents 1,420 per 100,000 workers and thus accounts for 28.0% of all work-induced ill health.

Segmental Outlook

The global joint reconstruction devices market is segmented based on technique, and joint type. Based on the technology, the market is sub-segmented into joint replacement, osteotomy, arthroscopy, resurfacing and arthrodesis. Further, based on joint type, the market is sub-segmented into knee, hip, shoulder, ankle, and others. Where, others include pivot joint, saddle joint. Among the technology, the osteotomy sub-segment is anticipated to hold a considerable share of the market, owing to the improve function, decreasing pain, slow deterioration.

The Knee Sub-Segment is Anticipated to Hold a Considerable Share of the Global Joint Reconstruction Devices Market

Among the joint, knee sub-segments expected to grow over the forecast period. The segment is driven by the increasing prevalence of osteoporosis and, arthritis globally. According to the National Institutes of Health, in the US, the prevalence of osteoporosis is high, with 12.6% of the population over 50 years of age affected. Furthermore, fractures afflict 1.5 million people annually, which driving up demand for knee replacement products. The advancement of minimally invasive surgical techniques for replacement therapies necessary for the treatment of osteoporosis and arthritis is projected to drive up demand for products. Moreover, knee osteoarthritis is widely prevalent among the older population. Knee joint reconstruction is an effective therapy that aids to decrease pain and improve the function and lifestyle of patients of all ages, especially the elderly population. The number and proportion of people aged 60 years and older in the population is increasing. According to the World Health Organization, in 2019, the number of people aged 60 years and older was 1 billion. This number will increase to 1.4 billion by 2030 and 2.1 billion by 2050. This increase is occurring at an unprecedented pace and will accelerate in coming decades, particularly in developing countries. The expanding older population base in many nations needs joint replacement and reconstructive surgery to improve their quality of life.

Regional Outlook

The global joint reconstruction devices market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, the Asia-Pacific region is anticipated to grow over the forecast period. Several factors propelling the regional market growth includes the growing demand for joint reconstruction devices, increasing geriatric population, growing number of joint reconstruction surgeries, and rising healthcare expenditure.

The North America Region is Expected to Grow at a Significant CAGR in the Global Joint Reconstruction Devices Market

North America is expected to hold a prominent share in the joint reconstruction devices market, owing to the increasing number of joint surgeries in the region is propelling the regional market growth. The American Joint Replacement Registry (AJRR) 2023 accounted over 3.1 million primary and revision hip and knee arthroplasty procedures performed between 2012 and 2022. This is a 23.0% growth in procedural cases from the prior report 2021. In addition, Ambulatory surgery centers (ASCs) continue to play an increasingly important role in the delivery of total joint arthroplasty care in the US. There are now 42,228 procedural cases reported by ASCs, an 84.0% increase since 2022. Furthermore, a significant increase in these surgeries, owing to the high percentage of the geriatric population experiences these surgical procedures. Therefore, a high number of joint replacement surgical procedures is accelerating the growth of this market in the region. In April 2022, Statistics Canada published the article "A portrait of Canada's growing population aged 85 and older from the 2021 Census", that there were 7.3 million people aged 65 and older in the country. Over the next 25 years (by 2046), the population aged 85 and older could triple to almost 2.5 million people. Thus, an increasing geriatric population is associated with an increase in joint reconstruction surgery, thus boosting the market studied in the region.

Market Players Outlook

The major companies serving the global joint reconstruction devices market include CONMED Corp., Johnson & Johnson Services, Inc., (DePuy Synthes, Inc.), Medtronic plc, Stryker Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2022, Smith+Nephew plc, the global medical technology business, launched the OR3O Dual Mobility System for use in primary and revision hip arthroplasty in Japan. Compared with traditional solutions, dual mobility implants have a small diameter femoral head that locks into a larger polyethylene insert increasing stability, reducing dislocation risk, and offering improved range of motion.

The Report Covers:

Market value data analysis of 2022 and forecast to 2030.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global joint reconstruction devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

Product Code: OMR2027946

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. By Region

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Findings
- 2.2.2. Recommendations
- 2.2.3. Conclusion

3. Competitive Landscape

3.1. Key Company Analysis
3.2. CONMED Corp.,
- 3.2.1. Overview
- 3.2.2. Financial Analysis
- 3.2.3. SWOT Analysis
- 3.2.4. Recent Developments
3.3. Johnson & Johnson Services, Inc. (DePuy Synthes, Inc.)
- 3.3.1. Overview
- 3.3.2. Financial Analysis
- 3.3.3. SWOT Analysis
- 3.3.4. Recent Developments
3.4. Medtronic plc
- 3.4.1. Overview
- 3.4.2. Financial Analysis
- 3.4.3. SWOT Analysis
- 3.4.4. Recent Developments
3.5. Stryker Corp.
- 3.5.1. Overview
- 3.5.2. Financial Analysis
- 3.5.3. SWOT Analysis
- 3.5.4. Recent Developments
3.6. Key Strategy Analysis

4. Market Segmentation

4.1. Global Joint Reconstruction Devices Market by Technique
- 4.1.1. Joint Replacement
- 4.1.2. Osteotomy
- 4.1.3. Arthroscopy
- 4.1.4. Resurfacing
- 4.1.5. Arthrodesis
4.2. Global Joint Reconstruction Devices Market by Joint Type
- 4.2.1. Knee
- 4.2.2. Hip
- 4.2.3. Shoulder
- 4.2.4. Ankle
- 4.2.5. Others (Pivot Joint, Saddle joint)

5. Regional Analysis

5.1. North America
- 5.1.1. United States
- 5.1.2. Canada
5.2. Europe
- 5.2.1. UK
- 5.2.2. Germany
- 5.2.3. Italy
- 5.2.4. Spain
- 5.2.5. France
- 5.2.6. Rest of Europe
5.3. Asia-Pacific
- 5.3.1. China
- 5.3.2. India
- 5.3.3. Japan
- 5.3.4. South Korea
- 5.3.5. Rest of Asia-Pacific
5.4. Rest of the World

6. Company Profiles

6.1. AAP Implantate AG
6.2. Aesculap, Inc. (B. Braun company)
6.3. Allegra Orthopaedics Ltd.
6.4. Alphatec Spine, Inc.
6.5. DJO, LLC
6.6. Enovis
6.7. Exactech, Inc.
6.8. Integra LifeSciences Corp.
6.9. Limacorporate S.p.A
6.10. NuVasive, Inc.
6.11. Orthofix Medical Inc.
6.12. Smith & Nephew plc
6.13. TriMed Inc.
6.14. Wright Medical Group N.V.
6.15. Zimmer Biomet Holdings Inc.