What Has Driven the Growth of the Joint Reconstruction Devices And Equipment Market in Recent Years?
The joint reconstruction devices and equipment market has seen considerable growth due to a variety of factors.
• In recent times, the market size for joint reconstruction devices and equipment has been steadily increasing. The market is projected to expand from $26.54 billion in 2024 to $28.61 billion in 2025, showcasing a compound annual growth rate (CAGR) of 7.8%.
The growth experienced in the historical period is closely tied to technological advancements, robust economic growth in emerging markets, and an increase in healthcare spending.
What is the Market Size Forecast for the Joint Reconstruction Devices And Equipment Market?
The joint reconstruction devices and equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of joint reconstruction devices and equipment is projected to experience consistent growth in the upcoming years, reaching a value of $34.23 billion in 2029 with a 4.6% Compound Annual Growth Rate (CAGR).
The anticipated growth in the forecast period is linked to a surge in joint reconstruction disorders, a swift increase in the aging population, and a rise in joint replacement surgeries. Noteworthy trends for the forecast period encompass the development of Internet of Things (IoT) enabled solutions for joint reconstruction operations, the application of artificial intelligence to decrease costs and duration, investments in the invention of robotics products for joint reconstruction surgery, a focus on mergers and acquisitions for business growth, and investments into 3D printing technology.
What Are The Primary Growth Drivers In The Joint Reconstruction Devices And Equipment Market?
The market is experiencing substantial growth due to the high number of patients suffering from joint reconstruction maladies. Joint replacement is seeing preference over other treatment options for joint diseases due to its superior safety and reliability. As diseases like osteoarthritis, knee and hip injuries, road accidents, cartilage, and labral injury are becoming more widespread, the demand for joint reconstruction is escalating. Osteoarthritis, a prevalent joint disorder affecting the elderly worldwide, can be effectively managed through joint replacement surgeries with orthopedic knee and hip implants. The Arthritis Foundation predicts that nearly 67 million individuals will be afflicted by arthritis by the year 2030. This surge in joint disease patients immensely influences the market need for joint reconstruction devices and equipment, thus significantly propelling market growth.
What Are The Major Segments Within The Joint Reconstruction Devices And Equipment Market?
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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Which Trends Are Expected To Transform The Joint Reconstruction Devices And Equipment Market?
Leading firms in the joint reconstruction devices sector are increasingly engaging in 3D printing technology owing to its notable advancement over conventional joint reconstruction surgery. This method is used in bone reconstructions as a foundation before the surgery procedure, enabling patients to undergo a preoperative MRI or CT scan. These characteristics are especially advantageous for patients regarding safety issues, which might influence treatment regimen adherence. For example, in August 2022, Exactech, a US-based company specializing in the creation of cutting-edge implants and instrumentation, introduced their unique total hip arthroplasty system. This all-inclusive system provides a variety of innovative design elements to assist surgeons in achieving optimum patient outcomes.
Who Are the Key Players 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 Is The Most Dominant Region 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
