Global Joint Reconstruction Devices Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Joint Reconstruction Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global joint reconstruction devices market report has been segmented on the basis of device type, application, and region.
Global Joint Reconstruction Devices Market: Overview
Joint reconstruction is a surgical procedure for rebuilding the damaged joint or to reduce the patient’s pain. This surgical procedure is done by implanting various devices in order to replace, reconstruct, or fix injured or diseased in bones of a joint. Depending on the severity of the joint damage in human, the joint reconstruction surgeries ranges from minor surgical repairs to the total joint replacement surgical procedure. Joint reconstruction devices are more common for application knees and hips replacement.
Global Joint Reconstruction Devices Market: Dynamics
Increasing incidences of orthopedic diseases is a key factors expected to drive the revenue growth of the target market over the forecast years. In addition, increasing elderly population, growing preferences for minimally invasive techniques, higher health care expenditure, are some of the other factors expected to drive the growth of the global joint reconstruction devices market. According to a report by the Aging World, by 2050 the world aging population is expected to increase by 17% and reached to about 1.6 billion.
Furthermore, medical technological advancement, rising demand for advanced therapeutic options and favorable government policies in some countries are another factors expected to support the growth of the global market over the next ten years.
However, high cost of joint reconstruction devices and stringent regulatory approval are major factors expected to hamper the growth of the target market over the forecast period.
Global Joint Reconstruction Devices Market: Segment Analysis
On the basis of device type segment, arthroscopy device is expected to register highest market share owing to small is size and helps in performing various complex surgeries. On the basis of application segment, knee segment is expected to witnessed highest revenue share over the forecast period. This is primarily to, increasing incidences of knee related disorders.
Global Joint Reconstruction Devices Market: Trends
The major manufacturers are focus on strengthen their distribution channels as well as enhancing product portfolio. In addition, prominent players in the target market space are focuses on receiving FDA and other health authority approvals. The aforementioned are some key trends witnessed in the target market.
For instance, in October 2018, Zimmer Biomet partnered with Apple Inc., to study clinical study and improve patient experience before and after surgery.
Global Joint Reconstruction Devices Market: Regional Analysis
In 2018, the markets in North America is anticipated to account for largest revenue share in the target market. This is primarily attributed to rising prevalence of joint-related conditions and favorable health care policies in countries in the region. The market in Asia Pacific is expected to gain highest growth rate over the forecast period, due to rising number of domestic joint reconstruction surgical producers and higher healthcare expenditure in countries in the region. In addition, improved healthcare policies and facilities, growing patient population, and higher adoption of advanced devices in countries are some other factors expected to drive the growth of the target market.
Global Joint Reconstruction Devices Market Segmentation:
Segmentation by device type:
- Osteotomy Devices
- Arthroscopy Devices
- Resurfacing Devices
- Arthrodesis Devices
Segmentation by application:
- Others (includes Ankle, Elbow, etc.)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2017 Estimated Year 2018 Forecast Period 2018–2027 Revenue in US$
- Covidien plc
- Stryker Corporation
- Zimmer Biomet
- Depuy Synthes
- Smith & Nephew plc
- Aesculap Implant Systems, LLC
- Conmed Corporation
- Donjoy Inc.
- Nuvasive, Inc.
- Wright Medical Technology Inc.
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