Joint Reconstruction Devices Market to see 3.7% CAGR to 2024 Stryker, Zimmer Biomet, Smith & Nephew, DJO, Arthrex, DePuy Synthes Companies and 14 other Companies Profiled
According to new growth analysis report by Global Market Insights, Inc., India joint reconstruction devices market is expected to expand at over 11.8% CAGR in the projection years owing to rising application of total knee and hip replacement.
SELBYVILLE, Del., Oct. 16, 2018 /PRNewswire-PRWeb/ -- Hip replacement segment of joint reconstruction devices market valued over USD 6.6 billion in 2017. According government statistics, the number of hip replacements surgical procedures performed in U.S. have increased substantially and have become more common in the younger population. Easier fast recovery, durability of hip replacements, cost effective way to improve the patient's quality of life and old people's willingness to accept the limitations accompanying arthritis will lead to growing product demand, boosting hip replacement devices market growth.
Joint Reconstruction Devices Market size is set to exceed USD 21.5 billion by 2024. Rapid rise in number of joint replacement surgical procedures in North America will fuel the market growth over the forecast period. As per the American Joint Replacement Registry, more than 7 million Americans have had hip or knee replacement surgery till present, accounting for almost 85% of the total joint reconstruction and replacement market.
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Knee replacement devices market will grow at 3.7% CAGR in near future. Knee replacement was the 14th most common inpatient surgical procedure in the year 2013. According to the World Health Organization (WHO) report of 2014, around 10% and 18% men and women above 60-year age suffer from osteoporosis, proving to be one of the most impact rendering factor for the segment growth over the forecast period.
Shoulder replacement reconstruction devices market will grow at 3.6% CAGR over the projection period. According to the American Academy of Orthopedic Surgeons (AAOS), the nationwide total number of shoulder replacements increased from 18,000 to 45,000 in the last decade. The number of shoulder reconstruction surgeries have skyrocketed in United States as recent technology improvement and aging population seek to restore function and relive pain related to arthritic shoulders, propelling the industry growth.
U.S. joint reconstruction devices market will grow considerately at 2.4% CAGR in the foreseeable future. According to the National Institute of Arthritis and Musculoskeletal and Skin Diseases, nearly 70 million American population have some or the other form of chronic joint disorder or arthritis. The large population base with high musculoskeletal disorder prevalence will create ample opportunities for the growth of joint reconstruction devices market in the United States.
Browse key joint reconstruction devices market insights from the 2017 report spread across 310 pages offering 345 market data tables as well as 53 figures & charts along with the table of contents:
https://www.gminsights.com/industry-analysis/joint-reconstruction-devices-market
Increase in geriatric population in Asia Pacific countries such as India, China and Japan will augment demand for joint reconstruction devices. The Asia Pacific region is witnessing a rapid rise in the number of people over the age of 65 and require frequent use of joint reconstruction devices due to deteriorating bones and tissues. According to the World Health Organization (WHO), the average life expectancy of people is 83.7 years in Japan and 82.3 years in South Korea. Hence, with increasing geriatric population that is at a greater risk of getting affected by musculoskeletal disorders, the demand for various join reconstruction devices will rise in coming 5-7 years.
Japan joint reconstruction devices market was valued around USD 858.1 million in the year 2017. A nationwide survey of the total hip fractures conducted by Japanese Orthopedic Association (JOA), found drastic increase in the number since the last decade. The rise in number of bone fractures along with increase in geriatric population will foster more opportunities for the Asia Pacific joint reconstruction devices market.
China joint reconstruction devices was valued around USD 501.5 million in the year 2017. China has been progressing drastically in the last few years in the bone and joint market segment. Joint replacement surgery is accepted for people suffering from surgically remediable joint diseases and conducted routinely across the country. The recent technological advancements along with increasing adoption of joint replacement procedure in the country will boost the market growth.
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Top key players mentioned in this joint reconstruction devices market report include Stryker, Zimmer Biomet, Smith & Nephew, DJO, Arthrex, DePuy Synthes Companies, Medtronic Spinal, Conformis, CONMED Corporation, Integra LifeSciences, NuVasive, Microport Scientific Corp., Globus Medical, Medacta USA, Inc., Waldemar Link GmbH & Co. KG, Alphatec Spine and others
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