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Joint Reconstruction Devices Market (Device Type - Joint Replacement Devices, Osteotomy Devices, Arthroscopy Devices, Resurfacing Devices, Arthrodesis Devices, and Others; Joint Type - Knee, Hip, Shoulder, Ankle, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : August, 2021

  • Rep Id : HC08707

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on joint reconstruction devices market provides in-depth analysis of segments and sub-segments in the global as well as regional joint reconstruction devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional joint reconstruction devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global joint reconstruction devices market. According to the report, the global joint reconstruction devices market is projected to grow at a CAGR of 5.57% over the forecast period of 2020-2027.


Joint Reconstruction Devices Market

 

Market Insight

Joint reconstruction devices market was valued at USD 16.65 billion in 2020 and expected to reach USD 24.00 billion in 2027, with a CAGR of 5.57% during the forecast period. Joint reconstruction devices are used in surgical procedures to repair and restore full function to a given joint. Novel surgical devices and technologies preserve and repair joint reconstruction. These devices offer relief for numerous people through safe and minimally invasive procedures by skilled professionals. Joint reconstructive devices also provide great relief to patients who suffer from severe pain that affects their everyday lives.

 

There are several factors which are indicating a positive outlook of the joint reconstruction devices market for the medium and long term. Factors such as high incidences of arthritis and musculoskeletal ailments, changing food, and working habits, are major factors for the growth of the Joint reconstruction devices market. Additionally, high healthcare expenditure is promoting the growth of this market. The average life expectancy has increased due to developed healthcare infrastructure which fuels the market growth. Improved technology has also allowed younger and younger patients to undergo joint reconstruction surgery. However, the high cost of the devices is the major restraining factor for the Joint reconstruction devices market. The high costs make joint reconstruction treatment unaffordable for many who need arthroplasty procedures. Moreover, the prevalence of a sedentary lifestyle and an increase in the consumption of unhealthy food products is leading to the occurrence of major problems in joints and bone degenerative diseases which are growth opportunities for the joint reconstruction devices market. The beginning of the COVID-19 pandemic caused a significant decrease in joint reconstruction volumes in the Medicare population with a resultant substantial revenue loss for hospitals and surgeons. It is directly impacted on the global joint reconstruction devices market. After excluding essential procedures, it was estimated that approximately 50% of hip and knee arthroplasty procedures will be canceled each week while COVID-19 restrictions regarding nonessential surgery are in place. If only 50% of nonessential cases were actually canceled across the world. However, joint replacement is considered one of the most important therapy options. Not all hospitals are allowed to treat patients, who have got infected with the Coronavirus, few of them are spared for other general care of the patients.

 

Among the regions, North America holds the largest market share of the joint reconstruction devices market. The large share of the North American region attributes to the increase in the geriatric population, availability of better healthcare infrastructure, and the presence of key players in the market. Asia-Pacific region is the fastest-growing market among the regions during the forecast. Increasing demand for standardized world-class medical facilities, increasing healthcare spending ability among people, and government initiatives to provide better health facilities to their nationals, are some major factors driving the high growth of this market in these regional segments.

 

Segment Covered

The report on global joint reconstruction devices market covers segments such as device type, and joint type. On the basis of device type, the sub-markets include joint replacement devices, osteotomy devices, arthroscopy devices, resurfacing devices, arthrodesis devices, and others. On the basis of joint type, the sub-markets include knee, hip, shoulder, ankle, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Stryker, Medtronic Plc, Zimmer Biomet, DJO Global, ConforMIS, Smith & Nephew, NuVasive, MicroPort Scientific Corporation, Globus Medical, Medacta, and Waldemar LINK.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of joint reconstruction devices market. Moreover, the study highlights current market trends and provides forecast from 2020-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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