“Global Joint Reconstruction Devices Market to reach a market value of USD 36.9 Billion by 2030 growing at a CAGR of 5.2%”
The Global Joint Reconstruction Devices Market size is expected to reach $36.9 billion by 2030, rising at a market growth of 5.2% CAGR during the forecast period.
These devices used in arthrodesis are designed to sustain proper alignment and strength of the fused joint. This is essential for successful fusion and optimal function post-surgery. Consequently, the arthrodesis segment would acquire nearly 10% of the total market share by 2030. Devices may be designed to distribute loads appropriately across the fused joint, reducing stress on the surrounding structures and promoting a successful fusion. Like joint replacement surgeries, minimally invasive approaches may be employed in arthrodesis procedures. Smaller incisions can lead to less tissue disruption, reduced pain, and quicker recovery.
Technological advancements lead to advanced materials with enhanced durability, wear resistance, and biocompatibility. Implants made from these materials contribute to the longevity and reliability of these devices. Robotics and computer-assisted surgery have revolutionized joint reconstruction procedures. Surgeons can use robotic assistance for precise planning, accurate implant placement, and improved surgical outcomes. Therefore, continuous advancements in technology significantly expand the market. Additionally, Improved healthcare infrastructure often includes state-of-the-art surgical facilities with advanced technology and equipment. Well-equipped operating rooms can facilitate complex joint reconstruction surgeries. A comprehensive healthcare infrastructure encompasses rehabilitation centers equipped with modern rehabilitation equipment. Postoperative rehabilitation is critical for joint reconstruction patients, and well-equipped rehabilitation centers contribute to positive patient outcomes. The improvements in healthcare infrastructure development create an environment conducive to the growth of the market.
However, High procedure costs may limit access to joint reconstruction surgeries for certain patient populations, particularly those without adequate health insurance coverage or financial means. This limitation can result in disparities in healthcare access and outcomes. Moreover, the high cost of joint reconstruction procedures can create economic challenges for healthcare providers and hospitals. Reimbursement rates may not always cover the full cost of these procedures, affecting the financial viability of offering joint reconstruction services. Due to the above aspects, market growth is expected to decline in the coming years.
Moreover, During the pandemic, shortages of essential raw materials and logistical challenges hampered the production of orthopedic implants. Manufacturers faced difficulties in sourcing materials, leading to delays in fulfilling orders and contributing to increased costs. Economic uncertainties during the pandemic influenced healthcare spending patterns. Patients and healthcare systems faced financial constraints, impacting the affordability of joint reconstruction procedures and devices. Therefore, the pandemic had a negative effect on the market.
On the basis of technique, the market is segmented into joint replacement, osteotomy, arthroscopy, resurfacing, arthrodesis, and others. The arthroscopy segment acquired a substantial revenue share in the market in 2022. Arthroscopes are increasingly utilized in joint reconstruction and diagnosis procedures due to the increased emphasis on minimally invasive procedures and their practicality. Reduced-scale operations can now be conducted as outpatient procedures due to the development of arthroscopes. By employing local anesthetics for most of these procedures, the overall cost of the operation is diminished.
By joint type, the market is fragmented into knee, hip, shoulder, ankle, and others. The ankle segment garnered a significant revenue share in the market in 2022. The primary goal of joint reconstruction in the ankle is to restore normal joint function. This can significantly improve a patient's ability to walk, stand, and engage in daily activities without experiencing discomfort or limitations. These devices can lead to favorable long-term functional outcomes when properly implanted and managed. Patients often report sustained pain relief, improved joint function, and increased satisfaction with their overall quality of life.
Free Valuable Insights: Global Joint Reconstruction Devices Market size to reach USD 36.9 Billion by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, North America registered the highest revenue share in the market. Due to the high prevalence of joint-related conditions, favorable healthcare policies, the substantial disposable income of patients, and the presence of numerous industry participants, this segment has achieved dominance. These elements stimulate demand for sophisticated therapeutic options. Furthermore, the segment's dominance over the forecast period is boosted by technological advancements implemented by key market participants.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 24.9 Billion |
| Market size forecast in 2030 | USD 36.9 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.2% from 2023 to 2030 |
| Number of Pages | 216 |
| Number of Tables | 309 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Joint Type, Technique, Region |
| Country scope |
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| Companies Included | Stryker Corporation, B. Braun Melsungen AG, Zimmer Biomet Holdings, Inc., DePuy Synthes (Johnson & Johnson), Smith & Nephew PLC, DJO Global (Enovis Corporation), Globus Medical, Inc., Wright Medical Group N.V., Exactech, Inc. and United Orthopedic Corporation (Chi-Yi Investment Co. Ltd.) |
By Joint Type
By Technique
By Geography
This Market size is expected to reach $36.9 billion by 2030.
Continuous advancements in technology are driving the Market in coming years, however, High cost of joint reconstruction procedures restraints the growth of the Market.
Stryker Corporation, B. Braun Melsungen AG, Zimmer Biomet Holdings, Inc., DePuy Synthes (Johnson & Johnson), Smith & Nephew PLC, DJO Global (Enovis Corporation), Globus Medical, Inc., Wright Medical Group N.V., Exactech, Inc. and United Orthopedic Corporation (Chi-Yi Investment Co. Ltd.)
The expected CAGR of this Market is 5.2% from 2023 to 2030.
The Knee segment led the Market, by Joint Type in 2022; there by, achieving a market value of $15.2 Billion by 2030.
The North America region dominated the Market, by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $14.5 Billion by 2030.
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