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Joint Reconstruction Devices Market Size, Share, Growth – By Joint Type, By End Use – Global Forecast, 2024 – 2032
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Joint Reconstruction Devices Market
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Premium Report Details
Base Year: 2023
Companies covered: 16
Tables & Figures: 255
Countries covered: 21
Pages: 140
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Joint Reconstruction Devices Market Size
The global joint reconstruction devices market size was valued at USD 19.6 billion in 2023 and is expected to exhibit growth at a CAGR of 4.5% from 2024 – 2032 period. There is a steady acceleration in the expansion of the market for joint reconstruction devices due to the rising number of global joint injuries and disorders.
The growing life expectancy together with the population aging in North America, parts of Europe and Asia, has resulted in an increased occurrence of osteoarthritis and rheumatoid arthritis, which in turn has increased the need for joint implants and knee and hip devices. Moreover, improving robotics and other technologies related to joint surgeries are making these procedures less invasive and complex, thereby ensuring a greater number of people seek out the treatment.
In addition, the growing leisure activities of the chubby generation of today have led to an increase in joint and sports injuries, making this another factor that aids in the expansion of the market. And where these fitness trends are high, the need for reconstruction devices and services is equally strong. Furthermore, the growing popularity of bio-resistant polymers and 3D printed implants makes these devices and drugs able to withstand a higher tolerance, making these surgeries highly affordable and an appealing option to a large population, resulting in significant market growth.
Moreover, emerging economies are investing heavily in reconstruction infrastructure, which is benefiting the healthcare sector. Countries such as India and Brazil are investing heavily in their healthcare sector, further allowing for advanced joint reconstruction implants to be incorporated. In these regions, medical tourism is growing due to the affordability and high-quality service, meaning that the market will continue to grow.
Devices used to reconstruct joints include implants and tools required to repair and put back together destroyed joints; this helps to encounter the pain caused by degenerative diseases, arthritis, or injuries. These include hip, knee, and ankle implants and are often used in partial reconstruction and total joint replacement. These devices are created using metals, ceramics, and biocompatible polymers, which makes the devices durable and helps greatly in replicating the natural function of joints. With the help of technology, patient outcomes, device longevity, and functionality are easily maintained with the use of minimally invasive surgical techniques and customizing implants.
Joint Reconstruction Devices Market Trends
Joint Reconstruction Devices Market Analysis
Based on joint type, the market is segmented into knee replacement, hip replacement, shoulder replacement, ankle replacement, and other products. The knee replacement segment is expected to expand at a CAGR of 5.1%, reaching over USD 14.5 billion by 2032.
Based on end use, the joint reconstruction devices market is segmented into hospitals and clinics, ambulatory centers, and other end users. The hospitals and clinics segment dominated the market in 2023 and is anticipated to reach USD 20.7 billion by 2032.
North America joint reconstruction devices market accounted for USD 10.5 billion market revenue in 2023 and is anticipated to grow at a CAGR of 3.4% between 2024 – 2032 period.
U.S. joint reconstruction devices market was valued at USD 9.9 billion in 2023 and is projected to grow substantially in the coming years.
U.K. joint reconstruction devices market is projected to grow remarkably in the coming years.
China holds a dominant position in the Asia Pacific joint reconstruction devices market.
Joint Reconstruction Devices Market Share
The market is competitive and occupied by several key players. Top key players are organizations such as DePuy Synthes (Johnson & Johnson), Zimmer Biomet, and Smith & Nephew, continuing to expand their market reach through production of joint implants and instruments using their vast experience and technology. These firms invest in R&D so that they are able to optimize the outcome by offering novel approaches such as patient-tailored implants and robotic surgical systems which improve patient satisfaction.
There are also new entrants who are responding to the increased need for special and less invasive approaches. From the outlook of market share distribution, it shows a progression of consolidation through M&As for large companies to be able to grow their market share and portfolio. There is a rise in the number of patients willing to undergo joint reconstruction rehabilitation, and therefore these companies are expected to expand their offerings and capabilities in the future.
Joint Reconstruction Devices Market Companies
Prominent players operating in the joint reconstruction devices industry include:
USPs for Top Players:
Joint Reconstruction Devices Industry News
The joint reconstruction devices market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Joint Type
Market, By End Use
The above information is provided for the following regions and countries: