Market Research Report
Global Joint Reconstruction Market 2019-2025
|Global Joint Reconstruction Market 2019-2025|
Published: November 20, 2019
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Market Size, Share & Trends Analysis Report, By Joint Type (Knee, Hip, Shoulder, Ankle and Others), By Technique (Joint Replacement, Osteotomy, Arthroscopy, Resurfacing and Arthrodesis), and Forecast 2019-2025.
The global joint reconstruction market is highly competitive and fragmented with the presence of numerous domestic and global vendors. Joint reconstruction is a method in which an injured or dysfunctional joint or tissue is substituted by a prosthesis. The general types of joint replacement procedures include digit replacement, ankle replacement, hip replacement, elbow replacement, knee replacement, and shoulder replacement. Growing demand for minimally invasive techniques in joint reconstruction and increasing awareness about the benefits associated with joint reconstruction surgeries are significant factors driving market growth.
Changes in clinical practices, technological advancements such as reversed shoulder instead of the anatomic shoulder and ankle arthroplasty for treating ankle fusion, and development of minimally invasive techniques such as stemless implants are offering significant opportunity for the growth of the market. The ankle replacement segment is expected to exhibit momentous growth in the joint reconstruction market owing to its increasing adoption rate in developed economies and restoration of a range of movements of the ankles. Furthermore, rising demand for revision and partial joint replacement procedures is leveraging the growth of the market coupled with its increasing need for hip and knee replacement procedures among elderly patients and adults with rheumatoid arthritis.
Geographically, North America is anticipated to hold the largest share in the market owing to the significant rise in joint replacement procedures and significant adoption of minimally invasive techniques in the region. 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 across the globe. Increasing incidences of joint disabling diseases, trauma and sports injuries coupled with improvements and advancements in healthcare facilities are supporting the growth of the North American joint reconstruction market.
However, Asia-pacific countries such as India, China and Japan are expected to grow with the fastest pace during the forecast period. The market is driven by the rising incidence of geriatric population and increasing number of arthritis patients. Moreover, rising healthcare expenditure, medical tourism and improved healthcare infrastructure are further anticipated to drive the market growth. 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 market is highly fragmented and extremely competitive with the presence of a large number of market players. Some major players in the joint reconstruction devices market Stryker Corp., Zimmer Biomet Holdings, Inc., Medtronic PLC, Johnson & Johnson Services, Inc. and Smith and Nephew PLC. These companies are offering both traditional and minimally invasive orthopedic devices. Partnership and collaborations, product launches, and mergers and acquisitions are the key strategies adopted in the global joint reconstruction market.
The market study of the global joint reconstruction market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.
The report is intended for joint reconstruction device manufacturers, suppliers, and distributors, healthcare organizations, potential investors and venture capitalists, government agencies and regulatory bodies, and other market participants for overall market analysis and competitive analysis. The report provides in-depth analysis on market size, various products offered by the companies, and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.