The global Joint Reconstruction Devices market size is expected to be worth around US$ 40.4 billion by 2030, according to a new report by Vision Research Reports.
The global Joint Reconstruction Devices market size was valued at US$ 38.7 billion in 2020 and is anticipated to grow at a CAGR of X% during forecast period 2021 to 2030.
High adoption of minimally invasive surgeries across the globe has given rise to technological advancement in surgical devices and procedures. In addition, growing prevalence of joint-related conditions and changing therapeutic approaches are expected to boost the market growth.
The joint reconstruction devices market is largely dependent on technological development. Ongoing studies on improving robotically-assisted surgeries and bionic implants are expected to play a pivotal role in the development of total joint replacement surgeries market. These advancements are expected to help in complex surgeries to improve success rate of these procedures and increase patient convenience.
A major share of the joint reconstruction market is captured by large joints. Knee and hip joint reconstruction together captured more than half of the revenue share in 2016. The prevalence of conditions related to these two joints is higher as compared to other joints due to overuse. Treatment of conditions related to these joints is crucial to recover the mobility of patients. Thus, a significant amount of funds are invested in R&D of large joint reconstruction techniques.
The joint replacement segment includes partial or total replacement by artificial or bone grafts and dominated the market in 2020. It is expected to maintain its dominance throughout the forecast period. The dominance of the segment can be attributed to factors such as high product cost and a large number of procedural volumes.
Artificial implants captured the largest share owing to its availability in a wide range of sizes, which offers choice and easy installation. On the other hand, bone grafting is rare as patients need to wait for a longer duration for natural growth of the graft.
High emphasis on minimally invasive surgeries and utility of arthroscopic devices in diagnosis as well as surgeries of joint reconstruction has led to the rising adoption of the same. The evolution of arthroscopes has enabled smaller surgeries to be performed on an outpatient basis. Most of these procedures are performed under local anesthetics, thus, reducing the cost of the total procedure.
The joint reconstruction devices market for other major processes such as osteotomy and resurfacing is dependent on the procedural volume. Thus, the growth of these segments is directly proportional to growing prevalence of the joint-related conditions. Other major factors include introduction of advanced tools such as preoperative planning tool and image magnifiers.
The majority of the orthopedic devices are designed exclusively for different types of joints. In addition, the therapeutic approach for each joint depends on variables such as age, weight, and size of the patient. Most of the time the implants are customized as per the requirements of the patient. The estimation for each segment is derived from various factors including, but not limited to the selling price of the implants, history of prevalence of the conditions, and a total number of procedures performed in each region.
High prevalence of diseases and availability of a large number of products & procedures are some of the factors that can be attributed to the large share of knee segment in 2020. The segment is expected to maintain the largest market share throughout the forecast period owing to factors such as a frequent introduction of advanced devices. The success rates of knee procedures vary per patient; hence, repeat procedures may be required for correction. These repeat procedures generate additional revenue.
Reconstruction therapies for ankle are observing high demand from the sports sector. These surgeries are being designed to provide quicker and long-term relief to patients. Most of the ankle surgeries are performed through arthroscopy.
North America captured the largest share in 2016. The dominance of the segment is attributed to factors such as the presence of a large number of industry players, the high prevalence of joint-related conditions, favorable healthcare policies, and high disposable income of the patients. These factors help generate demand for advanced therapeutic options. These factors contribute to the segment’s dominance throughout the forecast period.
High level of population, developing economies, and increasing demand for advanced therapeutic options are factors anticipated to drive growth in the Asia Pacific region at the highest rate during the forecast period. In addition, favorable government policies such as China’s healthcare reform and approval of 100 % foreign direct investment in the medical devices sector by the Indian government have contributed to the growth of the market. These two countries along with Japan are expected to spearhead the growth of the regional market.
Faster approval processes and free trade agreements with North America are anticipated to favor growth in the Latin American region. Countries such as Brazil and Mexico present potential market opportunities due to the presence of a large number of distribution partners.
Medtronic; Stryker; Aesculap Implant Systems, LLC; Zimmer-Biomet; DePuy Synthes; Smith and Nephew; CONMED Corporation; DJO Global, Inc.; and Nuvasive, Inc.
Middle East & Africa
The Joint Reconstruction Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Joint Reconstruction Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Joint Reconstruction Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Joint Reconstruction Devices market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Joint Reconstruction Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Joint Reconstruction Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Joint Reconstruction Devices by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Joint Reconstruction Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Joint Reconstruction Devices market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Joint Reconstruction Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Joint Reconstruction Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Joint Reconstruction Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Joint Reconstruction Devices market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Joint Reconstruction Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Joint Reconstruction Devices market. These factors have benefited the growth of the global market for Joint Reconstruction Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Joint Reconstruction Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Joint Reconstruction Devices are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.