Market Study on Expected Growth for Global Joint Reconstruction Devices Market

 Infinium Global Research’s recent report on the “Global Joint Reconstruction Devices Market (By Device Type (Joint Replacement Devices, Osteotomy Devices, Arthroscopy Devices, Resurfacing Devices, Arthrodesis Devices, and Others), By Joint Type (Knee, Hip, Shoulder, Ankle, and Others)): Global Industry Analysis, Trends, Size, Share and Forecasts up to 2026” provides a comprehensive outline of the factors responsible for the growth of the market. The joint reconstruction devices market was valued at USD 16.65 billion in 2020 and is expected to reach USD 24.00 billion in 2027, with a CAGR of 5.57% during the forecast period.

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Joint reconstruction surgery is the most common joint treatment with a rising number of surgeries every year. It ranges from minor repairs to the damaged joint to total joint replacement. Joint reconstruction devices offer temporary pain relief as well as permanent solutions to joint disorders. The type of treatment best for the patient depends on the type and severity of your joint disorder. With joint reconstruction, the relief provided may only be temporary, but the recovery is usually shorter and easier. This surgery is increasingly performed for younger and more active patients who are faced with a dilemma.

The COVID-19 pandemic has caused serious disruptions to the healthcare system and has revealed substantial healthcare disparities. The hospitals gave preference to COVID-19 cases over patients with other less-severe health conditions. Thus, the number of procedures performed on health conditions other than COVID-19 fell rapidly during the pandemic. This decreased the demand for medical supplies such as medication and devices required for such procedures. However, in the field of Orthopaedics, emergency surgeries like ones with unbearable joint pain or accidental cases are being operated in hospitals with all necessary precautions in place. Almost all the hospitals are following standard guidelines like compulsory Covid-19 testing of patients before the surgery, disinfecting hospital premises.

The Knee Reconstruction Devices Segment to Dominate the Joint Reconstruction Devices Market

In terms of joint type, the joint reconstruction devices market can be categorized into the knee, hip, shoulder, ankle, and others. Among these, the knee reconstruction devices segment accounted for the largest share of the joint reconstruction devices market in terms of revenue. An increase in awareness, rise in prevalence of arthritis, and frequent introduction of advanced devices are driving this segment in the joint reconstruction devices market. The rising incidence of knee pain from ailments such as osteoarthritis is expected to contribute to the number of knee reconstruction services. Moreover, knee replacement procedures are high in demand owing to increasing success rates, technological advancements, and easy availability of durable and better-quality implants.

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North America to Be the Dominant Region in Global Joint Reconstruction Devices Market

Geographically, the global joint reconstruction devices market is divided into four major regions including, North America, Europe, Asia Pacific, and the Rest of the World. The North American region dominated the global joint reconstruction devices market accounting for the highest market share. The U.S. dominated the North America joint reconstruction devices market owing to the well-developed healthcare infrastructure and the growing number of joint reconstruction surgeries in the country. The rising rate of joint replacement, especially for knee procedures, is also tied to obesity, which affects more than one-third of American adults. In the United States, joint reconstruction procedures are one of the most common elective surgeries. The total knee replacements are expected to increase by 189% by 2030 and total hip replacement (TKR) by 171%, there is still room for improvement in how these surgeries are performed.

Companies Operating in Joint Reconstruction Devices Market are Adapting Acquisition and Product Launches Strategies

The global market for joint reconstruction devices is highly consolidated as the market dynamics depend upon the major players. Key players in the joint reconstruction devices market are Stryker, Medtronic, Zimmer Biomet, DJO Global, ConforMIS, Smith & Nephew, NuVasive, MicroPort Scientific Corporation, Globus Medical, Medacta, and Waldemar LINK. The key market players contribute to the major share of the market.

However, the increasing demand for innovative technologies is making way for new entrants. The players operating in the joint reconstruction devices market are focusing on strengthening their geographic footprints through mergers and acquisitions. For instance, in January 2021, Stryker has acquired OrthoSensor, which is focused on applying digital technologies and big data to total joint replacements. Smart devices and implants will play a big role in orthopedics and Stryker continue to innovate and advance smart sensor technologies, including intraoperative sensors, wearables, and smart implants across our joint replacement business.

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Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of the joint reconstruction devices.

=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2026.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company. 

 => Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.