Worldwide demand for joint reconstruction devices is expected to increase at a CAGR of 6% from 2023 to 2033. The market for joint reconstruction devices is valued at US$ 32.75 billion in 2023 and is thus expected to reach US$ 58.65 billion by the end of 2033.
Joint reconstruction devices are used for knee replacement, hip replacement, trauma & extremities, ankle replacement, and others. Demand for knee replacement devices is anticipated to rise at a similar CAGR of 6% during the next 10 years. This can be attributed to factors such as the ease of access to trained personnel who can handle knee joint reconstruction devices and procedures.
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Knee osteoarthritis is becoming more common, and demand for minimally invasive surgeries is rising
Minimally invasive surgeries for knee osteoarthritis are becoming increasingly popular as they offer a less invasive alternative to traditional open surgeries. These procedures involve smaller incisions, less tissue disruption, and shorter recovery times. They also reduce the risk of infection and other complications associated with open surgeries.
Minimally invasive surgeries can be used to treat a variety of knee conditions, including osteoarthritis, meniscal tears, and ligament injuries. In addition, these procedures can be used to help relieve pain and improve mobility. As the demand for minimally invasive surgeries continues to rise, more research is being conducted to further improve the safety and efficacy of these procedures.
The global market dynamics are dependent on big players, which has resulted in a highly consolidated market for joint reconstruction devices. The primary portion of the market is dominated by the top players in terms of market share. Demand for joint reconstruction devices is expected to increase as more major manufacturers and other businesses enter into product launch and collaboration agreements.
- Smith & Nephew announced the commercial introduction of the CORI Surgical System, their next-generation handheld robotics platform, in Japan in February 2022. In contrast to other robotic systems, the CORI Surgical System is smaller and more portable, making it ideal for the congested operating rooms of today.
- In December 2020, Zimmer Biomet Holdings, Inc. announced that it had acquired A&E Medical Corporation, along with the company’s entire portfolio of sternal closure devices, including sternal sutures, cable systems, and rigid fixation, as well as a variety of single-use complementary products, including temporary pacing wire and surgical punch.
Key Companies Profiled:
- B. Braun Melsungen AG
- Johnson & Johnson
- Smith & Nephew PLC
- Stryker Corporation
- Wright Medical Group NV
- Zimmer Biomet Holdings, Inc.
For More Insights of Fact.MR Trending Report
- By Device :
- Knee Replacement
- Hip Replacement
- Trauma & Extremities
- Ankle Replacement
- By Technology :
- Joint Replacement
- By Procedure :
- By End User :
- Ambulatory Surgical Centers
- Orthopedic Clinics
- By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
Questionnaire answered in the report include:
- How the industry has grown?
- What is the present and future outlook on the basis of region?
- What are the challenges and opportunities?
- Why the consumption in region?
- In which year segment is expected to overtake segment?
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