The global Joint Reconstruction Devices Market size is expected to value at USD 30.4 billion by 2025. The market is subject to witness a substantial growth due to the increasing adoption of minimally invasive surgeries and recent technological advancement in the healthcare sector. Factors such as modernization of surgical devices and procedures coupled with increase in the health expenditure by local governments from developed economies across the globe are expected to amplify the growth of the market, in recent years.
Globally, the joint reconstruction devices market is predicted to grow at CAGR of 4.9% in forecast period, providing numerous opportunities for market players to invest in research and development in the market. Additionally, the rise in demand for minimally invasive diagnostic, innovative surgical methodologies, increase in occurrence of orthopedic conditions, and a large patient pool are some of the critical factors attributing to the growth of joint reconstruction devices industry, in recent years. Substantial rise in the elderly population in both developed and developing economies across the globe are driving the demand for joint reconstruction surgeries and devices.
Population above age of sixty are more prone to the orthopedic conditions due to weakened bone structure. Joint reconstruction is considered as one of the most crucial part of the global orthopedic devices industry. Some of the common causes for joint inflammation and damage include various arthritis conditions, osteoporosis, gout, and bone degenerative disorders. Growing prevalence of arthritis conditions and osteoporosis in young population is expected to fuel the growth of joint reconstruction devices industry in upcoming years.
Furthermore, changing lifestyle, varying food patterns and unhealthy dietary habits among large chunk of population are leading to rise in the prevalence of arthritis and osteoporosis conditions, thus driving the market growth further. Rise in number of initiatives undertaken by local governments and private bodies to create awareness among general population is anticipated to boost the market growth in upcoming years.
Recent innovation and research & development by industry players in joint-related conditions and therapeutic approaches are expected to amplify market opportunities over the forecast period. These factors are expected to augment the patient database in near future, leading to market expansion. Joint reconstruction contains a broad range of therapies such as physiotherapy, pain management, and various surgical procedures. Physiotherapyis considered as one of the fastest growing segment in the joint reconstruction devices market with substantial revenue generation in the last couple of years.
Growing popularity of the physiotherapy among patients in credited to its primary use in treatment of the joint conditions. Surgical procedure market segment has also witnessed substantial growth, in the recent years, due to its growing preference as a permanent cure for joint conditions. Also, rise in adoption of the minimally invasive surgeries is been witnessed in the last couple of years as well.
Some of the primary causes for the need of joint reconstruction include aging, increase in the number of indoor accidents encountered by elderly people, leading to weakening of joints, pain inflammation, and limited movement. Joint are commonly covered with a protecting layer of cartilage that helps in swift movements of the bones. With growing age and excessive wear-and-tear causes leads to deprivation of cartilage, which makes joints weaker and vulnerable to develop cracks while falling.
The joint reconstruction devices industry is divided by region such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in adoption of latest technologies in medical & pharmaceutical sector and existence of well-established healthcare infrastructure. Asia-Pacific region is predicted to hold major market share in the joint reconstruction devices market with massive growth in forecast period.
Countries such as India, China and Japan are leading the Asia-Pacific market with favorable government policies, rise in the foreign investment due to numerous initiatives by local governments, and significant investment by leading industry players considering potential opportunities in the region. The key players in the joint reconstruction devices industry are Medtronic plc, Nuvasive Incorporations, Zimmer BiometHoldings, Inc., Stryker Co., DePuySynthes Companies, Aesculap Implant Systems, Inc. Smith & Nephew plc, CONMED Co., and DJO Global Incorporations.
Joint Reconstruction Devices Technique Outlook (Revenue, USD Million, 2014 - 2025)
• Joint replacement
• Bone Graft
Joint Reconstruction Devices Joint Type Outlook (Revenue, USD Million, 2014 - 2025)
Joint Reconstruction Devices Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
Research Support Specialist, USA