Global Joint Reconstruction Devices And Equipment Market Size 2024, Forecast To 2033
11 Mar, 2024
The joint reconstruction devices and equipment market has shown robust growth, progressing from $21.86 billion in 2023 to $23.62 billion in 2024, marking a compound annual growth rate (CAGR) of 8.1%. This growth in the historical period is attributed to advancements in technologies, strong economic growth in emerging markets, and a rise in healthcare expenditure. Looking forward to 2028, the market is expected to experience strong growth, reaching $31.35 billion with a CAGR of 7.3%. The forecasted growth in the coming years can be attributed to an increase in joint reconstruction disorders, rapid growth in the geriatric population, and an increase in joint replacement surgical procedures. Key trends during this period include developing IoT-enabled solutions for joint reconstruction surgery to carry out procedures without human interaction, using artificial intelligence to reduce costs and time, investing in developing 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 traditional joint reconstruction surgery.
Global Joint Reconstruction Devices And Equipment Market Key Driver
The presence of a large pool of patients with joint reconstruction diseases is propelling the market forward. Patients are increasingly opting for joint replacement treatment due to its enhanced safety and reliability compared to other treatments for joint diseases. The surge in joint reconstruction diseases, including osteoarthritis, knee and hip injuries, road accidents, cartilage, and labral injuries, is expanding the patient pool. Osteoarthritis, a common joint disorder affecting the geriatric population globally, is expected to impact approximately 67 million people by 2030, as reported by the Arthritis Foundation. This expanding patient pool for joint diseases is fostering demand for joint reconstruction devices and equipment, exerting a substantial influence on market growth. The corresponding market sizes for 2023, 2024, and 2028 underscore this trajectory.
Get A Free Sample Of The Global Joint Reconstruction Devices And Equipment Market ReportGlobal 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
By Geography:The regions covered in the joint reconstruction devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
North America was the largest region in the global joint reconstruction devices and equipment market in 2023. 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
Major Joint Reconstruction Devices And Equipment Industry Players
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
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Joint Reconstruction Devices And Equipment Market Overview
Joint reconstruction devices are implantable medical devices that are used to operate as replacements for the shoulder joint, hip joint or knee joint to restore the function of a joint. A joint can be restored by resurfacing the bones.
Joint Reconstruction Devices And Equipment Global Market Report 2023 provides data on the global joint reconstruction devices and equipment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The joint reconstruction devices and equipment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.