Global Joint Replacement Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Joint Replacement Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global joint replacement devices market report has been segmented on the basis of product type, fixation, technique, indication, end-use industry, and region
Global Joint Replacement Devices Market: Overview
Joint implants are used for replacing a damaged joint ligament of patients injured mostly during accidents or sport injures. They are mostly used in order to reduce pain as well as restoring joint functionality in patient. With increasing awareness about joint implants in both patient and physicians is expected to facilitate medical services for joint replacements.
Global Joint Replacement Devices Market: Dynamics
Increasing prevalence of accidents and problems associated with bone joints, coupled with growing geriatric population across the globe are some major factors expected to drive growth of the global joint replacement devices market. In addition, rising income, increasing spending capacity is resulting in increasing demand for advanced medical facilities, and inclination towards joint replacements surgeries, owing to high reliability on advanced medical devices are some other factors expected to further support growth of the global market.
Moreover, increasing government expenditure on development of healthcare infrastructure is resulting in increasing adoption of joint replacement devices from hospitals and clinics which is another factor expected to support growth of the global market. In addition, availability of advanced healthcare infrastructure, coupled with favorable reimbursement policies in developed countries is another factor expected to further boost growth of the global market to certain extent.
However, stringent government regulations related to product approval is a major factor expected to hamper growth of the global joint replacement devices market to certain extent. In addition, wide presence of refurbished market is another factor expected to limit growth of the global market to certain extent.
Increasing investment by major players for technological advancements and R&D activities, and increasing promotional activities by the government in enduring peoples trust to undergo joint replacement surgical procedures with the help of advanced medical devices that are minimal invasive and less painful post surgeries are some factors expected to create potential revenue opportunities in terms of revenue for plyers operating in the target market over the forecast period.
Global Joint Replacement Devices Market: Region Analysis
The market in North America is expected to dominate in the global joint replacement devices market and is expected to continue its dominance over the forecast period. This can be attributed to well-developed healthcare infrastructure, favorable reimbursement policies, and presence of major manufacturers operating in the countries in this region. In addition, growing merger and acquisition activities among regional and international players is another factor expected to further support growth of the global market in this region.
The market in Asia Pacific is expected to witness faster growth, owing to increasing government expenditure on healthcare infrastructure and presence of prominent players operating in the emerging economies in this region.
The market in Latin America is expected to witness moderate growth, this can be attributed to fiscal incentives by the governments in order to attract FDI and increasing presence of major manufacturer in developing countries such as Brazil and Argentine in this region.
Global Joint Replacement Devices Market Segmentation:
By Product Type:
- Knee Reconstruction Devices
- Hip Reconstruction Devices
- Extremity Reconstruction Devices
- Traditional Surgery
- Minimally Invasive Surgery (MIS)
- Computer-assisted Surgery (CAS)
- Rheumatoid Arthritis
- Hip Dysplasia
- Orthopedic Trauma
- Joint Stiffness
By End user:
- Orthopedic Clinics
- Ambulatory Surgical Centers
- 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 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Aesculap Implant Systems, Inc.
- Arthrex, Inc.
- ConforMIS, Inc.
- DePuy Synthes, Inc.
- DJO Global Inc.
- Exactech, Inc.
- Medtronic, Inc.
- Smith & Nephew plc
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
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