Joint Reconstruction Devices Market report for 2018-2024 – Top companies | Stryker, Integra LifeSciences, NuVasive, Microport Scientific Corporation, Globus Medical, Medacta, Waldemar LINK, Arthrex, Conmed Corporation, Aesculap Implant Systems, AAP Impl

Joint Reconstruction Devices Market size is expected to surpass USD 21.5 billion by 2024; according to a new report by Global Market Insights, Inc.

Rapidly expanding aging population base along with increasing number of centenarians, estimated to reach around 4 million by 2050 across the globe will drive the demand for various joint replacement devices. With rising incidences of orthopaedic diseases such as Osteoarthritis and other musculoskeletal disorders that causes joint pain, stiffness and inflammation; the need to address them will only rise in near future. Also, increasing life expectancy especially in emerging economies is resulting in more cases related to joint disorders; therefore, the demand and adoption rate of the joint reconstruction devices must increase multi-folds, fuelling the market growth.

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Hip replacement reconstruction devices market valued over USD 6.6 billion in 2017. According government statistics, the number of hip replacements surgical procedures performed in U.S. have increased substantially and have become more common in the younger population. Easier fast recovery, durability of hip replacements, cost effective way to improve the patient’s quality of life and old people’s willingness to accept the limitations accompanying arthritis will lead to growing product demand, boosting hip replacement devices market growth.

Shoulder replacement reconstruction devices market will grow at 3.6% CAGR over the projection period. According to the American Academy of Orthopedic Surgeons (AAOS), the nationwide total number of shoulder replacements increased from 18,000 to 45,000 in the last decade. The number of shoulder reconstruction surgeries have skyrocketed in United States as recent technology improvement and aging population seek to restore function and relive pain related to arthritic shoulders, propelling the industry growth.

Japan joint reconstruction devices market was valued around USD 858.1 million in the year 2017. A nationwide survey of the total hip fractures conducted by Japanese Orthopedic Association (JOA), found drastic increase in the number since the last decade. The rise in number of bone fractures along with increase in geriatric population will foster more opportunities for the Asia Pacific joint reconstruction devices market.

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India joint reconstruction devices market is estimated to grow a 11.8% CAGR over the projection years. Total knee and hip replacement are the most common surgical procedures practiced across the world and its application is rapidly rising in India. According to the recent survey it was observed that around 70,000 joint replacement surgical procedures are carried out in India annually and expected to increase at significant rate in near future. Factors such as rising geriatric population, increase in prevalence of musculoskeletal disorders, improving healthcare infrastructure and expenditure in the country will favor the growth of joint reconstruction market in India.

Prominent industry players :-

Stryker, Integra LifeSciences, NuVasive, Microport Scientific Corporation, Globus Medical, Medacta, Waldemar LINK, Arthrex, Conmed Corporation, Aesculap Implant Systems, AAP Implantate AG, Alphatec Spine Inc, TriMed Inc, Zimmer Biomet, Medtronic Spinal, Smith & Nephew, ConforMIS, Inc, DJO Global, DePuy Synthes Companies,

The industry players use new and innovative strategies such as improving their manufacturing footprint, merger and acquisition, new product launches and geographical expansion for improving their market place.

Increase in geriatric population in Asia Pacific countries such as India, China and Japan will augment demand for joint reconstruction devices. The Asia Pacific region is witnessing a rapid rise in the number of people over the age of 65 and require frequent use of joint reconstruction devices due to deteriorating bones and tissues. According to the World Health Organization (WHO), the average life expectancy of people is 83.7 years in Japan and 82.3 years in South Korea. Hence, with increasing geriatric population that is at a greater risk of getting affected by musculoskeletal disorders, the demand for various join reconstruction devices will rise in coming 5-7 years.

Charts & Figures

FIG. 1 Industry segmentation
FIG. 2 Global Joint Reconstruction Devices market, 2013 – 2024 (USD Million)
FIG. 3 Growth potential analysis
FIG. 4 Supplier share analysis
FIG. 5 Porter’s Analysis
FIG. 6 Strategic Dashboard
FIG. 7 PESTEL Analysis

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com

This release was published on openPR.