Joint Reconstruction Devices Market Expected To Grow At 7.18% CAGR from 2012 to 2022: Crystal Market Research

LAS VEGAS, Nov. 15, 2017 (GLOBE NEWSWIRE) — The joints are affected by various conditions such as osteoporosis, arthritis, bone degenerative diseases, and gout. Large number of people has being vulnerable to these conditions due to unhealthy diet and sedentary lifestyle. Joint reconstruction is a surgery performed for reconstructing the architecture of a joint for restoring its functions. Some of the joint reconstruction procedures are total knee replacement, anterior cruciate ligament, and total hip replacement. Hip replacement involves the reconstruction of diseased or damaged parts of the hip joint; while the knee replacement is the reconstruction of damaged knee joint. Almost 90% patients achieve complete relief from pain after knee and hip replacement surgeries. Elderly people are more prone to joint disorders such as arthritis. As per Arthritis Foundation, in the U.S., in 2016, about 50 million adults have arthritis and this number is projected to reach 67 million by 2030. Moreover, almost 300,000 children have arthritis in the country.

The knee Joint Reconstruction Devices segment held the major share of the global market in 2016 owing to rising prevalence of arthritis and increase in awareness regarding better hip and knee management. On the other hand, hip reconstruction devices segment is expected to grow at highest rate due to introduction of hip resurfacing and partial knee replacement and growing penetration of existing devices.

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North America occupied the major share of the global market in 2016, due to rising incidences of joint-related conditions, beneficial healthcare policies, and high disposable income. Asia-Pacific region will show the highest growth rate during the forecast period owing to factors such as growing patient population, improved healthcare policies, and increasing adoption of advanced devices.

The key strategy followed by the major players is development of innovative joint reconstruction devices.For instance, in May 2014, DePuy Synthes launched three innovative products (including GLOBAL UNITE Anatomic Shoulder, TRUMATCH Resection Guide, and CORAIL Revision Hip System) for shoulder, knee, and hip replacement, respectively. This helped the company to expand its joint reconstruction portfolio.

Major Market Players

  • Zimmer Biomet Holdings Inc.
  • Stryker Corporation
  • Smith & Nephew plc
  • DJO Global Inc.
  • DePuy Synthes (a part of Johnson & Johnson)
  • Arthrex Inc.
  • Aesculap Implant Systems LLC (a B. Braun company)
  • Exactech Inc.

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Key Findings of the Research Study:

  • Knee reconstruction devices segment dominated the global market in 2016 due to rising prevalence of arthritis and increase in awareness regarding better hip and knee management.
  • Hip reconstruction devices segment will grow at highest rate owing to introduction of recent procedures such as hip resurfacing and partial knee replacement.
  • North America held the major share of the overall market in 2016, while Asia-Pacific is projected to witness robust growth during the forecast period.
  • China and India will contribute to the growth of Asia-Pacific region owing to favorable government policies.

About Crystal Market Research

Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy. 

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