Press release
Expanding Patient Pool With Joint Reconstruction Diseases Fuels Growth In Joint Reconstruction Devices Market: An Emerging Driver Transforming The Joint Reconstruction Devices And Equipment Market Landscape
Joint Reconstruction Devices And Equipment
What Is the Projected Growth of the Joint Reconstruction Devices And Equipment Market?
Recent years have seen robust growth in the size of the joint reconstruction devices and equipment market. Its size is projected to escalate from $26.54 billion in 2024 to $28.61 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.8%. This expansion in the historical phase can be credited to technological advances, significant economic progression in up and coming markets, and an increase in healthcare spending.
It is projected that the joint reconstruction devices and equipment market will experience consistent growth in the coming years, reaching a value of $34.23 billion in 2029, with a 4.6% compound annual growth rate (CAGR). The estimated growth during this period could be a result of an increased prevalence of joint reconstruction conditions, a fast-expanding elderly population, and a rise in joint replacement surgeries. Furthermore, key trends predicted for this forecast period involve the development of IoT enabled solutions for joint reconstruction procedures, the usage of artificial intelligence to curb expenses and duration, investments in the creation of robot-assisted devices for joint reconstruction surgeries, a focus on mergers and acquisitions for broadening business operations, and investing in 3D printing technology.
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What Are the Different Joint Reconstruction Devices And Equipment Market Segments?
The joint reconstruction devices and equipment market covered in this report is segmented -
1) By Product Type: Knee Reconstruction Devices, Hip Reconstruction Devices, Extremity Reconstruction Devices
2) By Application: Arthrodesis, Arthroscopy, Joint Replacement Surgery, Osteotomy, Resurfacing Surgery, Small Joint Surgery
3) By End User: Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers
Subsegments:
1) By Knee Reconstruction Devices: Total Knee Replacement (TKR) Implants, Partial Knee Replacement Implants, Knee Revision Implants
2) By Hip Reconstruction Devices: Total Hip Replacement (THR) Implants, Hip Resurfacing Implants, Hip Revision Implants
3) By Extremity Reconstruction Devices: Shoulder Reconstruction Devices, Ankle Reconstruction Devices, Elbow Reconstruction Devices, Wrist And Hand Reconstruction Devices
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What Are the Primary Drivers Shaping the Joint Reconstruction Devices And Equipment Market?
The market is being propelled by a large number of patients suffering from joint reconstruction diseases. Rather than opting for other types of treatments, patients are choosing joint replacement due to its increased safety and credibility. We're witnessing an escalation in diseases requiring joint reconstruction, such as osteoarthritis, knee and hip injuries, road accidents, cartilage, and labral injuries, all of which are expanding the patient pool. For instance, osteoarthritis, a prevalent joint disorder primarily affecting the elderly worldwide, can be treated through joint replacement surgeries using orthopedic knee and hip implant surgeries. The Arthritis Foundation predicts that around 67 million individuals will be arthritis patients by 2030. This increase in patients with joint diseases spurs the joint reconstruction devices and equipment market's demand, greatly influencing market expansion.
Which Companies Are Leading in the Joint Reconstruction Devices And Equipment Market?
Major companies operating in the joint reconstruction devices and equipment market include Stryker Corporation, Zimmer Biomet, Johnson & Johnson, Smith & Nephew, Globus Medical, DJO Global Inc., Aesculap Implant Systems LLC, Medtronic, CONMED Corporation, Össur, Allegra Orthopedics, DePuy Synthes, Tornier Inc., Corin Group Plc., Covidien plc, PolyNovo Limited, Exactech Inc., United Orthopedic Corporation, Victrex, Evonik, Royal DSM, Lepu Medical Technology Company (Beijing) Co. Ltd, Yuwell - Jiangsu Yuyue Medical Equipment & Supply Co. Ltd, Shanghai Runda Medical Technology Co. Ltd., GE Healthcare China Co. Ltd., Smiths Medical (Beijing) Co. Ltd., Nuvasive Inc., AAP Implantate AG, Waldemar Link GmbH & Co. KG, Amplitude SAS, Beznoska Company Ltd, Sanatmetal Ltd, Medin a.s., Collagen Matrix Inc., XpandOrtho, Integra Lifesciences, NEOORTHO, Manoel Amaral Baumer, Biomecânica, ORTOBIO, Ortosintese, IMPOL Próteses Ortopédicas, Wright Medical, B. Braun, Meril Life, Zimmer (Shaarani Group), Corin South Africa (Pty) Ltd, Medtronic Africa, EgiFix Medical
What Trends Are Expected to Dominate the Joint Reconstruction Devices And Equipment Market in the Next 5 Years?
Leading firms in the joint reconstruction equipment industry are progressively investing in 3D printing technology due to its substantial improvements in conventional joint reconstruction surgery. This method is employed for the reconstruction of bones prior to surgery, enabling patients to undergo a pre-operative MRI or CT scan. Such attributes are remarkably advantageous to patients owing to safety issues which may impact their adherence to treatment protocols. For instance, in August 2022, Exactech, a U.S.-based innovator of advanced implants and instrumentation, introduced their novel total hip arthroplasty system. This comprehensive system consists of various groundbreaking design features aimed at aiding surgeons in achieving the most optimal results for their patients.
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What Are the Top Revenue-Generating Geographies in the Joint Reconstruction Devices And Equipment Market?
North America was the largest region in the global joint reconstruction devices and equipment market in 2024. Asia-Pacific was the second largest market in joint reconstruction devices and equipment market. The regions covered in the joint reconstruction devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Joint Reconstruction Devices And Equipment Market?
2. What is the CAGR expected in the Joint Reconstruction Devices And Equipment Market?
3. What Are the Key Innovations Transforming the Joint Reconstruction Devices And Equipment Industry?
4. Which Region Is Leading the Joint Reconstruction Devices And Equipment Market?
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