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.
Advanced Implants with Antimicrobial Surfaces Should Be Developed by Manufacturers to Avoid Bacterial Infections & Decrease Post-Surgical Problems
Although being one of the most effective orthopaedic surgical procedures, joint reconstruction surgery, postoperative complications are a major concern after joint replacement surgeries. It could have serious issues that necessitate limb fusion or amputation.
The prosthesis used in joint reconstruction surgeries is prone to attracting germs, which could cause biofilms to form and colonise. In order to lessen complications following surgery, manufacturers are putting a lot of effort into creating modern implants with antimicrobial surfaces that discourage bacterial attachment.
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.
- 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?