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Genu Recurvatum Market Size, Share, Trends, and Forecast 2024
Genu Recurvatum Market Size
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According to The Business Research Company's, The genu recurvatum market size has grown strongly in recent years. It will grow from $7.12 billion in 2023 to $7.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to orthopedic conditions prevalence, aging population, trauma and accidents, limited awareness and early diagnosis.
The genu recurvatum market size is expected to see strong growth in the next few years. It will grow to $9.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to rising awareness and education, advancements in treatment options, sports injury prevention and management, rehabilitation programs. Major trends in the forecast period include integration of digital health technologies, collaboration between orthopedic specialists and physical therapists, research on biomechanics and musculoskeletal health, focus on pediatric and adolescent cases, rehabilitation and strength training emphasis.
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Market Drivers and Trends:
The increasing prevalence of orthopedic disorders is expected to propel the growth of the genu recurvatum market going forward. Orthopedic disorders refer to conditions that affect the musculoskeletal system, including the bones, joints, muscles, tendons, ligaments, and cartilage. Genu recurvatum causes knee pain and leads to knee osteoarthritis and other orthopedic disorders. The increasing cases of orthopedic conditions will demand treatment, which will support the market's growth. For instance, in February 2022, according to the Office of Disease Prevention and Health Promotion, a US-based government health agency, it is anticipated that in 2040 78.4 million adults will have arthritis. Over 52.5 million adult Americans, or more than 22% of the population, have arthritis. Furthermore, in 2021, according to Versus Arthritis, a UK-based charity dedicated to people with arthritis, in 2022, there were 20,295,706 people with musculoskeletal conditions in the UK and for MSK disorders and joint problems. Therefore, the increasing prevalence of orthopedic disorders is driving the growth of the genu recurvatum market.
Technological advancements are a key trend gaining popularity in the genu recurvatum market. Major companies operating in the genu recurvatum market are developing technologically advanced products to sustain their position in the market. For instance, in November 2022, Ortho Development Corporation, a US-based orthopedic device design and manufacturing company, launched BKS Total PSI in collaboration with Materialize NV, a Belgium-based company in 3D printing / additive manufacturing. BKS Total PSI, driven by Materialize, improves total knee arthroplasty predictability and control by providing patient-specific virtual visualization, preoperative planning, and precise 3D-printed guidance.
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Major Key Players of the Market:
Medtronic plc, Johnson & Johnson MedTech,Stryker Corporation, DePuy Synthes Inc., Zimmer Inc., Smith & Nephew plc, Arthrex, NuVasive Inc., DJO Global Inc., Globus Medical Inc., Össur hf, AliMed Inc., Thuasne Ltd., Orthofix Inc, Prim SA, OrthoPro Inc., Performance Health, Trulife Group Limited, Breg Inc., Allard USA, Capstone Orthopedic Inc., Twin Cities Orthopedics, ReWalk Robotics, BraceAbility, KevinRoot Medical.
Genu Recurvatum Market 2024 Key Insights:
• The genu recurvatum market size is expected to see strong growth in the next few years. It will grow to $9.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• The Surge In Genu Recurvatum Market Driven By Orthopedic Cases
• Technological Trends Reshaping The Genu Recurvatum Market
• North America was the largest region in the genu recurvatum market in 2023
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