Joint Reconstruction Market Size to Reach USD 47.98 Billion in 2028 Growing at a CAGR of 6.2%, according to Emergen Research

Emergen Research has published its latest report titled “Joint Reconstruction Market, By Joint Type (Shoulder, Knee, Ankle, Hip, Others), By Technique (Joint Replacement, Arthroscopy, Resurfacing, Osteotomy, Others), By End-use (Hospitals & Clinics, Orthotic & Prosthetic Centers, Surgical Centers, Others), and By Region, Forecast to 2028”

According to Emergen Research, the global joint reconstruction market size was USD 29.43 Billion in 2020 and is expected to reach USD 47.98 Billion in 2028 and register a revenue CAGR of 6.2% during the forecast period, 2021-2028.

Market Dynamics:

Key factors providing impetus to the global joint reconstruction market revenue growth are rise in the global geriatric population, increasing prevalence of chronic orthopedic or joint disorders such as osteoarthritis, rheumatoid arthritis, osteoporosis, and several lower extremity conditions – especially among geriatric patients – increasing occurrences of major road accidents and sports-related or traumatic injuries, and rapid increase in joint reconstruction procedures. Joint reconstruction surgery is a surgical procedure performed to restore the functions of a deformed or dysfunctional joint or limb. As per the estimation by the American Academy of Orthopedic Surgeons, the total number of knee replacement or reconstruction surgeries in the U.S. will reach up to 1.28 million by 2030.

Although joint reconstruction surgeries are the most successful of all orthopedic surgeries, there are several adverse post-surgical complications such as limb loss associated with it. Hence, manufacturers are increasingly focusing on developing more advanced orthopedic prostheses, with smart functions and anti-microbial surfaces to avoid risks of infection. In addition, factors such as advancements in joint reconstruction materials and techniques, increasing government initiatives to raise awareness of bone and joint health, and rapidly advancing healthcare infrastructure are expected to further drive the global joint reconstruction market revenue growth during the forecast period. However, high costs of joint reconstruction devices and rising biocompatibility issues related to orthopedic prosthetics are expected to hamper market revenue growth to some extent.

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COVID-19 Impact Analysis:

• Social distancing and restrictions severely disrupted businesses and operations
• Lockdowns caused disruptions in transportation and logistics
• Impacted manufacturing activities and mining operations globally
• Took a toll on economy of various countries
• Caused sudden and drastic downturn in economic activity
• Disrupted agriculture, fisheries, dairy, and other sectors
• Caused loss of employment and financial crisis
• Supply impacts were further compounded owing to reduced disposable income
• Emergence of variants  continue to cause concerns and impact normal routines

Joint Replacement Segment Accounted for Largest Revenue Share in 2020:

Based on technique, the global joint reconstruction market is segmented into joint replacement, arthroscopy, resurfacing, osteotomy, and others. The joint replacement segment dominate other technique segments in terms of revenue share in the global market in 2020, owing to certain favorable factors. Rising prevalence of chronic orthopedic disorders such as rheumatoid arthritis, osteoarthritis, and osteoporosis, increasing volumes of joint replacement surgeries, and growing need for joint reconstruction procedures for patients with end-stage joint disorders are key factors driving revenue growth of this segment.

Orthotic & Prosthetic Centers Segment to Account for Fastest Revenue CAGR:

Based on end-use, the global joint reconstruction market is segmented into hospitals & clinics, orthotic & prosthetic centers, surgical centers, and others. The orthotic & prosthetic centers segment is expected to register the fastest revenue CAGR in the global market over the forecast period. Rising incidences of traumatic and sports injuries, growing prevalence of chronic joint disorders, increasing number of orthopedic clinics worldwide, and several benefits offered by these clinics, such as personalized care, shorter stays, and low-cost services, are the main factors driving revenue growth of this segment.

North America Accounted for Largest Revenue Share in 2020:

Among regional markets, the North America joint reconstruction market accounted for the largest revenue share in the global market in 2020. Increasing geriatric population, rising prevalence of chronic orthopedic or joint ailments, growing preference for joint reconstruction surgeries for patients with end-stage joint disorders, and rapid adoption of highly advanced joint reconstruction techniques in hospitals and surgical centers are the key factors contributing to the North America market revenue growth. Other factors supporting the regional market growth are rising awareness of the long-term benefits of joint reconstruction, availability of highly skilled orthopedic surgeons, and presence of state-of-the-art healthcare infrastructure in the region.

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Major Companies in the Global Joint Reconstruction Market Include:

• Aesculap Implant Systems LLC
• Zimmer-Biomet Holdings Inc.
• Smith and Nephew
• Stryker Corporation
• DePuy Synthes
• Medtronic Inc.
• Omni Life Science
• CONMED Corporation
• Arthrex Inc.
• Wright Medical Technology Inc.

For the purpose of this report, Emergen Research has segmented the global joint reconstruction market based on joint type, technique, end-use, and region:

Joint Type Outlook (Revenue, USD Billion; 2018–2028)

• Shoulder
• Knee
• Ankle
• Hip
• Others

Technique Outlook (Revenue, USD Billion; 2018–2028)

• Joint Replacement
• Arthroscopy
• Resurfacing
• Osteotomy
• Others

End-use Outlook (Revenue, USD Billion; 2018–2028)

• Hospitals & Clinics
• Orthotic & Prosthetic Centers
• Surgical Centers
• Others

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Region Outlook (Revenue, USD Billion; 2018-2028)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • BENELUX
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • U.A.E.
  • South Africa
  • Turkey
  • Rest of Middle East & Africa

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