The joint reconstruction devices market is highly competitive and fragmented with the presence of numerous domestic and global vendors. In addition, the market is projected to witness a steady growth rate at CAGR of 6.8% during the forecasted period 2017-2022.
Global Joint Reconstruction Market insights
Joint reconstruction is a method in which an injured or dysfunctional joint or tissue is substituted by an artificial prosthesis. Artificial prostheses include materials such as plastics, metals and ceramics.
The general types of joint replacement procedures include digit replacement, ankle replacement, hip replacement, elbow replacement, knee replacement and shoulder replacement. Growing demand of minimally invasive techniques in joint reconstruction and awareness about the benefits associated with joint reconstruction surgeries are significant factors driving its market growth.
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Globally, there is a huge population suffering from rheumatoid arthritis and osteoarthritis, which in turn, is fostering the advancement of new technologies and products in joint reconstruction devices market. Changes in clinical practices, technological advancements such as reversed shoulder instead of anatomic shoulder and ankle arthroplasty for treating ankle fusion, and development of minimally invasive techniques such as stemless implants are opportunities in the market.
Patients with massive irreparable rotator tear, who cannot opt for conventional total shoulder replacement, can now go ahead with reverse shoulder replacement surgery. The ankle replacement segment is expected to exhibit momentous growth in the joint reconstruction market due to increasing adoption rate in developed economies and restoration of range of movements of the ankles.
Global demand for medical devices is driven by increasing expenditures and activities on healthcare by developing markets with the building of new hospitals and clinics, establishment of public health insurance and a greater focus on health. In addition, global demand should continue to grow due to lifestyle diseases, aging populations in major markets, new and significant emerging markets and rising global income levels in developing countries.
Revision and partial joint replacement procedures will improve the growth of the market due to the number of younger aged patients in need of these procedures. A broadening patient base, which includes younger patients below 55 years of age and elderly patients above the age of 80, will increase the demand for hip and knee replacement procedures.
The US accounts for the major shares of joint reconstruction devices market. However, Asia-pacific countries such as India, China and Japan are expected to grow with a higher rate during the forecast period.
The market is driven by the rising incidence of geriatric population and increasing impedance of arthritis patients. The US medical device industry is expected to remain highly competitive, due to national characteristics that facilitate bringing new and innovative technologies to market.
The industry has increasingly embraced globalization, and an ever-growing number of multinational firms are aggressively pursuing markets around the world. Increasing incidences of joint disabling diseases, trauma and sports injuries with improvements and advancements in healthcare facilities, there has been an increase in life expectancy across the globe.
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Key factors fueling the growth of joint replacement surgeries in Asia-pacific are increasing number of trained joint replacement surgeons, sedentary lifestyle, and aging population, rising healthcare expenditure, medical tourism and improved healthcare infrastructure. In the US, hip and knee replacements are the most commonly performed joint replacements.
The American joint replacement registry (AJRR) has been making tremendous progress towards its goal of becoming the first comprehensive national hip and knee orthopedic implant registry in the US.
The report includes a detailed market overview, market determinants, company profiling, sector analysis, market segmentation, geographical analysis, patent analysis, strategic recommendations, key company analysis, patent analysis, pipeline analysis, key findings, market estimations, market insights, analyst insights and predictive analysis of the market.
The global joint reconstruction market is highly fragmented and extremely competitive in nature due to the presence of a large number of market players. Key market players of the joint reconstruction devices market include Zimmer Biomet holdings Inc., Smith & Nephew, Stryker Corporation, Omni life science, Depuy, Arthrex Inc., and Corin group.
These firms are focusing on international sales, joint ventures, mergers and acquisitions. Depuy synthesis joint reconstruction in 2014 introduced new products for hip, knee and shoulder replacement.
The products are global unite, Corail, Trumatch and Attune for rotating knee platform. These products are part of broader platforms that provide treatment options to meet specific patient needs
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Global Joint Reconstruction Market Segmentation:
4.1. Joint reconstruction market by joint type
Joint reconstruction market by technique
4.2.1. Joint replacement
188.8.131.52. Bone Grafts
4.4. Joint reconstruction market by biomaterials
The report covers:
- Comprehensive research methodology of global joint reconstruction devices market
- In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global joint reconstruction devices market
- Insights about market determinants which are stimulating the global joint reconstruction devices market
- Detailed and extensive market segments with regional distribution of researched revenues
- Extensive profiles and recent developments of market players
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