Global Joint Reconstruction Devices Market is expected to grow at a CAGR of 5.10% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Joint Reconstruction Devices Market by Technique (Joint Replacement, Osteotomy, Arthroscopy, Resurfacing, Arthrodesis, Implants, Bone Graft), Type, End-user, and Region and Global Forecast 2018-2025.
As per the report, the global joint reconstruction devices market is expected to grow from USD 19.38 Billion in 2017 to USD 28.47 Billion by 2025 at a CAGR of 5.10% during the forecast period from 2018-2025. North America has captured the largest market share and generating the highest revenue during the forecast period. High prevalence of joint-related conditions, presence of a large number of industry players, and favourable healthcare policies. These factors generating demand for advanced options. According to the United States Census Bureau, in 2016 around 49.2 million adults aged 65 and above are in the U.S.
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Major players operating in the market are Stryker, Medtronic, Zimmer-Biomet, Aesculap Implant Systems, LLC, Smith and Nephew, DePuy Synthes, CONMED Corporation, Nuvasive, Inc., DJO Global, Inc., Arthrex, Inc., ConforMIS, Waldemar LINK GmbH & Co. KG, B. Braun Melsungen AG, Kinamed, Inc., Allegra Orthopaedics Limited, Exactech, Inc. and others. Major players are engaged in developing new technologies to retain their foothold in the global market. For instance, in July 2016, Zimmer Biomet collaborated with Indo UK Institutes of Health (IUIH) established Zimmer Biomet Institute of India to improve the health care infrastructure in India.
Technique segment is divided into joint replacement, osteotomy, arthroscopy, resurfacing, arthrodesis and others. Joint replacement segment is dominating and held the largest market share of 42.07% in 2017. Major conditions affecting joints such as arthritis, osteoporosis, bone degenerative diseases, and injuries are driving the growth of the segment. Type segment is classified into knee, hip, shoulder, ankle and others. Knee segment held the largest market share in the forecast period. Increase in the number of total knee replacement surgeries and advancements in knee implants for total and partial knee replacement surgeries are driving the segment. End user segment is classified into hospitals, orthopedic centers, ambulatory surgery center and others. The ambulatory surgical centers held the largest market share due to preference over hospital stay.
Availability of better implant materials, demand of minimally invasive surgery, and ongoing research in the knee implant industry are expected to enhance the global knee replacement market are some of the major factors for the growth. In addition, growing emphasis on cost-effective health care is driving the orthopedic implants. Product recalls by regulatory authorities may restrict the growth of the market. However, increasing technological advancements by competitors and ongoing research is opening new avenues for the market.
About the report:
The global Joint Reconstruction Devices market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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