Market Research Report
Small Joint Reconstructive Implants Market Research Report: By Type, Material, End-User and Regional Insight and Global Industry Analysis and Demand Forecast to 2024
|Published by||Prescient & Strategic Intelligence Private Limited||Product code||911244|
|Published||Content info||163 Pages
Delivery time: 2-3 business days
|Small Joint Reconstructive Implants Market Research Report: By Type, Material, End-User and Regional Insight and Global Industry Analysis and Demand Forecast to 2024|
|Published: July 1, 2019||Content info: 163 Pages||
The global small joint reconstructive implants market reached a value of $7.4 billion in 2018 and is predicted to witness a 5.5% CAGR during 2019-2024 (forecast period). The major factors driving the growth of the market are the increasing prevalence of osteoporosis and arthritis and surging geriatric population. Small joint reconstructive implants, which are made up of metals and polymers, are used for small joints replacement surgeries, which involve replacing a destroyed joint with an artificial one. The surgery of small joints requires either replacement or fusion.
When type is taken into consideration, the small joint reconstructive implants market is divided into foot & ankle, staple fixation, hand & wrist, and other implants. 'Others' include shoulder reconstruction devices, external fixation devices, screws, and plates. Out of these, the hand & wrist category dominated the market during the historical period (2014-2018), holding a share of 44.2% in 2018. This is due to the growing number of sports injuries and rising geriatric population across the world. This category is further expected to experience the highest CAGR during the forecast period.
The small joint reconstructive implants market is bifurcated into ambulatory surgical centers (ASCs) and hospitals on segmenting by end-user. The hospitals bifurcation occupied the larger share of the market during the historical period and is expected to retain its position during the forecast period. The reasons for this are the greater footfall of people with joint-related issues and the growing number of osteo surgeries in hospitals. The category of ASCs is projected to grow at the higher CAGR of 5.6% during the forecast period.