Joint Reconstruction Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Joint Reconstruction Devices Market By Joint Type (Knee Reconstruction, Hip Reconstruction, Shoulder Reconstruction, Others), By Technique (Joint Replacement, Arthroplasty, Osteotomy, Resurfacing Surgery, Others), By End-User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers (Asc), Others), by geography is expected to grow at a steady CAGR forecast till 2027 owing to rise in the prevalence of joint-related diseases and surge in geriatric population.

Global Joint Reconstruction Devices Market was valued at USD 20.64 million in 2021, growing at a CAGR of 6.01% during the forecast period from 2022 to 2027, in order to reach USD 29.10 million by 2027. The Joint Reconstruction Devices market is expected to witness growth due to a rise in the prevalence of joint-related diseases such as arthritis, bone degenerative diseases, osteoporosis, gout, and injuries, growing technological advancements in product development, increasing awareness for minimally invasive procedures, and surge in the geriatric population.

Joint Reconstruction Devices Market Dynamics:

Joint Reconstruction Devices Market has significantly increased owing to a rise in the prevalence of joint-related disorders such as arthritis, bone degenerative diseases, osteoporosis, gout, and injuries. Different types of arthritis require the use of Joint Reconstruction Devices, as per CDC 2020, more than 32.5 million US adults have osteoarthritis. Moreover, 62% of people with osteoarthritis are women in the US, as per Osteoarthritis Action Alliance, 2021.

Additionally, the Joint Reconstruction Devices Market is witnessing a significant growth in product demand owing to the increasing geriatric population base across the globe. According to the data provided by the World Health Organization, in 2020, about one billion people across the world were over the age of 60. The source further stated that by 2050, the elderly population in the 60 and above age group is expected to double in number representing about 2.1 billion people, and people in the age group of 80 and above are estimated to triple between 2020 and 2050 reach 426 million. Moreover, as per the CDC 2021, arthritis prevalence increases with age. Thus, the rising elderly population is expected to lead to the rise in the arthritis patient population across the world, which in turn would lead to an increase in demand for Joint Reconstruction Devices during the forecast period, which will drive the Joint Reconstruction Devices market growth around the globe.

In addition, the integration of advanced technologies into Joint Reconstruction Devices is advancing at a great pace. For instance, in October 2021, a first-ever knee replacement smart implant was developed at the Hospital for Special Surgery (HSS) in the US, which measured patient monitoring features like step is taken measurements, range of motion, and other indicators of knee function following surgery. Such technological advancement in the field of Joint Reconstruction Devices is likely to boost the Global Joint Reconstruction Devices Market.

The outbreak of the COVID-19 pandemic had a profound impact across the globe. The pandemic led to the cancellation of outpatient visits and the suspension of non-emergency hospitals and procedures. This resulted in the reduced number of routine clinical examinations of the orthopedical visits and related procedures. Thus, the number of patients waiting to get Joint Reconstruction procedures done through surgery increased over time. Therefore, the demand for Joint Reconstruction Devices has decreased for the short period of time.

However, certain factors like infections caused around the prosthesis, blood clotting, and malfunctioning of the prosthesis may restrict the growth of the Global Joint Reconstruction Devices Market.

Joint Reconstruction Devices Market Segment Analysis:

Joint Reconstruction Devices Market by Joint Type (Knee Reconstruction, Hip Reconstruction, Shoulder Reconstruction Others), by Technique (Joint Replacement, Arthroplasty, Osteotomy, Resurfacing Surgery, Others), by End-user (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers (ASC), Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the Joint Reconstruction Devices market under the technique category, the Joint Replacement Devices segment will hold a significant share in the overall Global Joint Reconstruction Devices market. The significant market share of this product segment can be attributed to key factors such as less pain suffered after the surgery which promotes growing patient adoption of these devices.

Moreover, the main factor responsible for the growth of the Joint Replacement segment is that it restores normal movement and activity.

Furthermore, an increase in the awareness for minimally invasive procedures like Joint Replacement, a rise in prevalence of arthritis, and frequent introduction of advanced devices in the segment will significantly boost the Joint Reconstruction Devices Market. This, in turn, is expected will boost the Joint Replacement Devices segment market growth over the forecast period, which will also help in driving the overall Global Joint Reconstruction Devices Market growth.

In addition, new product approvals are also likely to upsurge the Global Joint Reconstruction Devices market during the forecasted period. For instance, in January 2021, DePuy Synthes Received 510(k) FDA approval for VELYS™ robotic-assisted solution designed for use with the ATTUNE® total knee system. It is an adaptable technology that helps simplify surgeons' existing workflow and is designed around how surgeons plan, execute and perform surgery for total knee replacement. This will increase the acceptance of Joint Reconstruction Devices for patients. Hence, all the above-mentioned factors are expected to drive the segment growth of the Joint Reconstruction Devices market.

North America is expected to dominate the Overall Global Joint Reconstruction Devices Market:

North America is expected to dominate the overall Joint Reconstruction Devices market during the forecast period. This domination is due to the rising prevalence of joint-related diseases such as arthritis, bone degenerative diseases, osteoporosis, gout, and injuries.

As per the Centers for Disease Control and Prevention 2021, about 1 in 4 US adults (23.7%) or about 58.5 million people have doctor-diagnosed arthritis in the United States.

Additionally, by the year 2040, an estimated 78.4 million adults aged 18 years and older (25.9% of the projected total adult population) will have doctor-diagnosed arthritis in the US.

Thus, the burgeoning cases of bone-related diseases will contribute to the growth of the Joint Reconstruction Devices Market in the region as the demand will increase.

Further, in North America and at the global level the United States represents the largest market worldwide supported by developed healthcare infrastructure and strong adoption of technologically advanced products owing to the rise in healthcare expenditure by the government and increased prevalence of joint-related diseases as mentioned above.

For instance, in May 2021 Conformis, Inc. received the 510(k) clearance by the US FDA for its Identity Imprint Knee Replacement System.

Europe and Asia-Pacific region have the future potential growth for the Global Joint Reconstruction Devices market. This is owing to the increasing awareness for minimally invasive procedures and the surge in the geriatric population in the European region countries and Asian countries. For instance, in May 2021, Orthofix Medical announced the US and European full market launch of the OSCAR PRO Ultrasonic Arthroplasty Revision System.

Hence, rising product launch and commercialization agreements among the key manufacturers and other companies are anticipated to boost the Joint Reconstruction Devices market.

Joint Reconstruction Devices Market Key Players:

Some of the key market players operating in the Global Joint Reconstruction Devices Market include Medtronic PLC, Zimmer Biomet, Stryker, NuVasive®, Inc., Smith & Nephew PLC, CONMED Corporation, DJO, LLC (Colfax Corporation), MicroPort Scientific Corporation, Globus Medical, Arthrex, Inc., Corin Group, Integra LifeSciences, Johnson & Johnson, OMNIlife science™, Inc., Exactech, Inc., B. Braun Melsungen AG, Medacta International, among others.

Recent Developmental Activities in the Joint Reconstruction Devices Market:

• In August 2021, the US FDA approved the Persona IQ and awarded a de novo classification grant and authorization to Zimmer Biomet and Canary Medical to market the tibial extension for Persona IQ for total knee replacement surgery.
• In March 2021, Premia Spine received FDA breakthrough device designation for TOPS™ Spinal Arthroplasty System.

Key Takeaways from the Joint Reconstruction Devices Market Report Study

• Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Joint Reconstruction Devices market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the Global Joint Reconstruction Devices Market.
• Various opportunities are available for the other competitor in the Joint Reconstruction Devices Market space.
• What are the top-performing segments in 2021? How these segments will perform in 2027.
• Which are the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Joint Reconstruction Devices market growth in the coming future?

Target Audience who can be benefited from this Joint Reconstruction Devices Market Ket Report Study

• Joint Reconstruction Devices providers
• Research organizations and consulting companies
• Joint Reconstruction Devices related organization, association, forum, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders in Joint Reconstruction Devices
• Various End-users want to know more about the Joint Reconstruction Devices Market and the latest technological developments in the Joint Reconstruction Devices market.

Frequently Asked Questions for Joint Reconstruction Devices Market:

1. What are Joint Reconstruction Devices?

Joint Reconstruction Devices are medical devices that are used to rebuild a joint's architecture to recover its functions. Joint reconstructive surgery, a minimally invasive procedure offers relief to individuals suffering from joint disorders and fractures. Total hip replacement, total knee replacement, and anterior cruciate ligament are some of the joint reconstruction methods. Joint reconstruction involves a wide range of treatments including pain management, surgery, and physiotherapy.

2. What is the market for Global Joint Reconstruction Devices?

Global Joint Reconstruction Devices Market was valued at USD 20.64 million in 2021, growing at a CAGR of 6.01% during the forecast period from 2022 to 2027, in order to reach USD 29.10 million by 2027.

3. What are the drivers for Global Joint Reconstruction Devices?

The major drivers driving the demand for Joint Reconstruction Devices are the rise in the prevalence of joint-related diseases such as arthritis, bone degenerative diseases, osteoporosis, gout, and injuries, growing technological advancements in product development, increasing awareness for minimally invasive procedures, and surge in the geriatric population.

4. What are the key players operating in Global Joint Reconstruction Devices?

Some of the key market players operating in the Joint Reconstruction Devices market include Medtronic PLC, Zimmer Biomet, Stryker, NuVasive®, Inc., Smith & Nephew PLC, CONMED Corporation, DJO, LLC (Colfax Corporation), MicroPort Scientific Corporation, Globus Medical, Arthrex, Inc., Corin Group, Integra LifeSciences, Johnson & Johnson, OMNIlife science™, Inc., Exactech, Inc., B. Braun Melsungen AG, Medacta International, and others.

5. Which regions has the highest share in the Joint Reconstruction Devices market?

North America is expected to dominate the overall global Joint Reconstruction Devices market during the forecast period from 2022 to 2027. This domination is due to the rising prevalence of joint-related diseases such as arthritis, bone degenerative diseases, osteoporosis, gout, and injuries.


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