A research study titled, “Joint Reconstruction Devices Market by Product - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the joint reconstruction devices market is primarily growing due to advent of advanced extremity reconstruction devices.
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 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.
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.
The key players operating in this market are 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), and Exactech, Inc.
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Joint Reconstruction Devices Market Segmentation: