Joint Reconstruction Devices Market - By Joint (Knee Replacement {Product, Component}, Hip Replacement, Shoulder Replacement, Ankle Replacement), By Region & Global Forecast, 2023 – 2032

Joint Reconstruction Devices Market - By Joint (Knee Replacement {Product, Component}, Hip Replacement, Shoulder Replacement, Ankle Replacement), By Region & Global Forecast, 2023 – 2032

Joint Reconstruction Devices Market Size

Joint Reconstruction Devices Market size valuation exceeded USD 18.5 billion in 2022 and is set to record robust growth at more than 4% CAGR through 2032 driven by the expanding geriatric population globally.
 

Hip and knee osteoarthritis is widely prevalent among the older population. Hip and knee joint reconstruction is an effective treatment that helps to decrease pain and improve the function and lifestyle of patients of all ages, including the elderly. According to the World Health Organization, the number and proportion of individuals aged 60 and above will rise to 1.4 billion globally by 2030. The expanding older population base in many nations needs joint replacement and reconstructive surgery to improve their quality of life. Furthermore, due to the increased awareness, the use of joint repair devices is expanding at a rapid pace, which is estimated to support the joint reconstruction devices market growth.
 

Furthermore, ongoing orthopedic R&D studies are focused on the design and production of patient-specific implants (PSI) to provide an effective and accurate way for treating bone fractures or a variety of deformities such as oncological or congenital malformation. They are designed to be fitted to the bone geometry based on the kind of fracture that needs to be stabilized, further increasing their effectiveness. Moreover, patient-specific technologies (PSTs) aid in the interpretation of CT scans, reducing uncertainties in diagnosis and therapy while saving surgeons' time.
 

High costs associated with the devices to limit product uptake

Joint implants can account for 20 to 40% cost of a therapy, resulting in a significant impact on the process margins, particularly in capitated reimbursement settings. For instance, the price of total knee replacement surgery varies widely and is influenced by a variety of factors, including implant type, surgical technique, pre-existing problems, length of hospital stay, and so on. As a result, the high cost of implants, exclusive of other related expenses, adds to the increased expense of total joint replacement operations, limiting the use of the product and impeding the business expansion.
 

Joint Reconstruction Devices Market Analysis

Joint reconstruction devices market from the knee replacement segment was worth over USD 9 billion in revenue in 2022. High patient satisfaction is encouraging more patients to choose these treatments, which has raised the adoption of total knee replacements. Furthermore, the surging integration of advanced robotic systems with the MIS approach makes the treatment safer and faster, which is complementing the segment progress. For instance, in February 2023, to address the mounting orthopedic burden in India, CK Birla Hospital began a fully functioning robotic minimally invasive surgical knee replacement program at the Punjabi Bagh location, which provides advantages over conventional techniques in the field of knee replacement surgery.
 

North America joint reconstruction devices market is anticipated to reach a valuation of more than USD 14 billion by 2032 driven by multiple factors, including an expanding aging population, rising medical expenses, and a spike in the occurrences of orthopedic disorders in the country. The Department of Health and Human Services estimates that 10 million Americans aged 50 and older suffer from osteoporosis, which is expected to increase the demand for knee replacement treatments.
 

Joint Reconstruction Devices Market Share

Top enterprises operating in the joint reconstruction devices market are ;

• Medtronic
• MicroPort Scientific Corporation
• Stryker
• DJO Global
• ConforMIS
• NuVasive
• Zimmer Biomet
• Globus Medical
• Waldemar LINK
• Smith & Nephew
• and Medacta

These firms focus heavily on the development of novel surgical techniques and the introduction of innovative and advanced devices to maintain their market position.
 

The joint reconstruction devices market research report includes in-depth coverage of the industry with estimates & forecasts in terms of USD Million from 2018 to 2032 for the following segments

Click here to Buy Section of this Report

By Joint

• Knee Replacement
  • Product
    • Primary Knee Systems
    • Revision Knee Systems
    • Partial Knee Systems
  • Component
    • Femoral Component
    • Tibial Component
    • Patellar Component
• Hip Replacement
  • Product
    • Primary Hip Reconstruction Devices
    • Partial Hip Reconstruction Devices
    • Revision Hip Reconstruction Devices
    • Hip Resurfacing Devices
  • Component
    • Acetabular component
    • Femoral Component
• Shoulder Replacement
  • Shoulder Arthroplasty Resurfacing Implants
  • Shoulder Arthroplasty Trauma Implants
  • Shoulder Arthroplasty Platform Implants
• Ankle Replacement
  • Two-Component Fixed Bearing
  • Three-Component Mobile Bearing
• Others 

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Netherlands
  • Sweden

• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Thailand
  • Philippines
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Israel
  • Iran