Joint Reconstruction Devices & Equipment Market Trends 2024-2033 | Key Players Stryker Corporation, Zimmer Biomet, Johnson & Johnson, Smith & Nephew, Globus Medical.

The Business Research Company recently released a comprehensive report on the Global Joint Reconstruction Devices And Equipment Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The joint reconstruction devices and equipment market size has grown strongly in recent years. It will grow from $21.86 billion in 2023 to $23.62 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to advancement in technologies, strong economic growth in emerging markets and rise in healthcare expenditure.

The joint reconstruction devices and equipment market size is expected to see strong growth in the next few years. It will grow to $31.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to an increase in joint reconstruction disorders, rapid growth in the geriatric population and increase in joint replacement surgical procedures are expected. Major trends in the forecast period include developing iot enabled solutions for joint reconstruction surgery to carry out procedures without having any human interaction, using artificial intelligence to reduce costs and time, investing in developing in robotics products for joint reconstruction surgery, focusing on merger and acquisition activities for business expansion, and investing in 3d printing technology due to its significant improvement over the traditional joint reconstruction surgery.

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Market Drivers and Trends:

The presence of a large pool of patients in joint reconstruction diseases is driving the market. Patients are preferring joint replacement treatment instead of other treatments for joint diseases, because of increased safety and reliability. The rise in joint reconstruction diseases such as osteoarthritis, knee and hip injury, road accident, cartilage, and labral injury is increasing the patient pool. For instance, osteoarthritis is a common disorder of joints that mainly affects the geriatric population across the globe. This condition can be treated by joint replacement surgeries using orthopedic knee and hip implants surgery According to the Arthritis Foundation, about 67 million people are expected to suffer from arthritis by 2030. This rise in the patient pool for joint diseases is driving the demand for the joint reconstruction devices and equipment market, significantly impacting the market growth.

Major companies in joint reconstruction devices are increasingly investing in 3D printing technology due to its significant improvement over traditional joint reconstruction surgery. This technique uses for reconstructions of bones as a base before the surgery plan so the patient can get a preoperative MRI or CT scan. These features are particularly beneficial for patients in terms of safety concerns, which can affect adherence to treatment regimens. For instance, in August 2022, Exactech, a US-based developer of innovative implants and instrumentation launched their noval total hip arthroplasty system. It comprehensive system that offers a wide range of innovative design features to help surgeons achieve the best possible outcomes for their patients.

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Major Key Players of the Market:

Boston Scientific Corporation, Terumo Corporation, Siemens Healthineers, Sirtex Medical Limited, Merit Medical Systems, Inc., Merck & Co. Inc., CVS Health, Henlius, Viant Medical, AngioDynamics Inc., Pfizer, Steris Applied Sterilization Technologies, CoDr.Reddys, International SOS, CapeRay, Innovent Biologics, Novartis AG, Consonance, ABLbio, Adimmune, Heraeus Medical, Bioavlee, Mediceena International, Sinapi biomedical, Olympus, Freudenberg Medical, Hisun Pharma, Beijing ShuangLu Pharmaceuticals, Edwards LifeSciences Corp, Gulf Dent Trading, LifeTech Scientific Corporation, Biomerics, Medtronic plc, Dickinson & Company, 3M Company, DISA Vascular, Johnson & Johnson, Eurolab, Koninklijke Philips, Quantum SurgicalKyowa Hakko Kirin, Viatris, Nipro, Zimmer Biomet Holdings, Profound Medical, Gedeon Richter, Baxter, Ti-TaMED, Abbott Laboratories, Cook Medical LLC, Adavium Medical, Autocam Medical, Bio-Thera, Stryker, GE Healthcare, Sonic Healthcare, Medicem, HealthTronics, Bayer AG, Intuitive Surgical Inc, Aster DM Healthcare, Danaher Corporation, Varian Medical Systems Inc., Smileneo, EDAP TMS S.A, Fresenius Medical Care AG, China Regenerative Medicine International

Joint Reconstruction Devices And Equipment Market 2024 Key Insights:

• The joint reconstruction devices and equipment market size is expected to see strong growth in the next few years. It will grow to $31.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Expanding Patient Pool With Joint Reconstruction Diseases Fuels Growth In Joint Reconstruction Devices Market
• Innovative Advancements 3D Printing Technology Revolutionizes Joint Reconstruction Devices Market
• North America was the largest region in the global joint reconstruction devices and equipment market in 2023

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