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Joint Reconstruction Devices Market to surpass $29 Bn by 2032

  • Published Date: April 18, 2023

Joint Reconstruction Devices Market size is set to exceed USD 29 billion in revenue by 2032, according to a new research report by Global Market Insights Inc.

The rising use of new technology to improve patient experience is projected to augment business expansion. The usage of 3D printing technology has been growing continually, with an increasing spectrum of applications in joint replacement devices and surgery. Similarly, the advent of robot-assisted surgery in joint repair helps surgeons arrange tailored procedures using 3D pictures, consequently producing safe, precise, and dependable results. As fewer devices are used compared to traditional surgeries, the risk of infection is also low. These factors are expected to positively influence the industry from 2023 to 2032.

The report further cites that prevalent efforts by market players to facilitate product advancements that promote personalization and the launch of novel AI-integrated products are slated to drive joint reconstruction devices market growth through 2032.

For instance, in March 2023, Materialise, a leading medical business, collaborated with Exactech, a researcher and manufacturer of innovative implants, to develop new treatment alternatives for patients with severe shoulder deformities. The Materialise Glenius solution will be added to the company's portfolio, allowing surgeons in Europe and Australia to serve patients with personalized implants.

 High success rate among patients of all ages to foster hip replacement segment outlook

The joint reconstruction devices market from the hip replacement segment generated more than USD 7 billion in 2022 and is poised to grow significantly through 2032 owing to the rising prevalence of osteoarthritis, rheumatoid arthritis, and traumatic arthritis. The Agency for Healthcare Research and Quality estimates that over 450,000 total hip replacements are conducted every year in the U.S. Additionally, hospitals have reported an increase in hip replacement procedures, particularly in COVID-19-infected patients.

Latest advancements in hip replacement devices and high success rates among patients of all ages are expected to be the major factors contributing to segment value between 2023 and 2032.

Browse key industry insights spread across 220 pages with 554 market data tables & 13 figures & charts from the report,Joint Reconstruction Devices Market Size 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}), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:

Increasing access to treatment options to impel Europe market expansion

The Europe joint reconstruction devices market was valued at over USD 4 billion in 2022 and is projected to witness exponential progress owing to the rising adoption of novel strategies by governments to promote access to orthopedic disease treatment, thereby amplifying the use of joint reconstruction implants.

Furthermore, in September 2022, ExplantLab, an ortho-genomic biotech company, launched the Orthotype tests, a set of innovative genetic tests to aid in predicting whether joint replacements would be successful or unsuccessful. These tests are expected to help the UK achieve its objective of being a top "science powerhouse" by 2030. Such advancements in healthcare technologies are likely to support regional industry revenue through 2032.

Introduction of novel joint repair technologies by leading enterprises to define the market outlook

ConforMIS, Medtronic, Stryker, DJO Global, Smith & Nephew, Zimmer Biomet, MicroPort Scientific Corporation, NuVasive, Medacta, Waldemar LINK, and Globus Medical are some major companies engaged in the joint reconstruction devices market. These corporations emphasize the development of new technologies, the launch of new product lines, and the execution of expansion strategies to enhance their market position.


Authors: Rupali Swain, Subodh Kharad