Joint Reconstruction Devices Market Set to Soar to US$41.5 Billion by 2032
The global Joint Reconstruction Devices Market is worth US$ 26 Bn as of now and is expected to reach US$ 41.5 Bn by the year 2032 at a CAGR of 4.8% between 2022 and 2032.
Joint reconstruction encloses a broad spectrum of treatments like physiotherapy, surgeries, and pain management. The very first type of therapy preferred is that of ‘physiotherapy’. Though it caters to primary care, surgical procedures do prove to be permanent course of cure. Minimally invasive surgeries are preferred as they provide benefits like convenience factor for surgeons and patients alike, lesser timespan of hospital stay, and shorter ‘turnaround’ time. Artificial implants dominate the joint reconstruction devices market as they offer simple installation. Arthroscopes enable outpatient surgeries as well. Advanced tools include image magnifiers and pre-operative planning.
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Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Joint Reconstruction Devices’ through its dedicated team of analysts and consultants. The bottom-up approach is bound to go a long way regarding the rapport with clientele. Also, micros and macros have been efficiently worked upon.
Key Takeaways from the Joint Reconstruction Devices Market
North America holds more than 30% of the market share. This could be credited to the US housing a huge number of industry players.
Europe stands second on similar grounds and the status quo is expected to remain unchanged even going forward.
The Asia-Pacific is expected to grow at the fastest rate. This could be attributed to FDI being approved by the governments of India and China. Japan is another country leading from the front.
With an increase in the number of distribution partners, Mexico and Brazil are expected to dominate the joint reconstruction devices market for LATAM.
Competitive Devices
Smith + Nephew, in February 2022, did announce launching next generation handheld robotics platform called ‘CORI Surgical System’ at the commercial scale. It stands out from its counterparts for compactness. Minimal set-up time along with portability implies that it could be moved from one theater to the other for optimizing patients’ flow via surgical units.
Zimmer Biomet Holdings, Inc., in December 2020, did announce that it had completed acquisition of A&E Medical Corporation and its entire portfolio comprising sternal closure devices. They included cable systems, sternal sutures, and rigid fixation.
DePuy Synthes, in March 2022, did acquire CUPTIMIZE Hip-Spine Analysis – a tool floated with the objective of better understanding and addressing effect of abnormal motion between pelvis and spine in certain patients who need THA (total hip arthroplasty). It improvises on surgical planning capabilities related to VELYS Hip Navigation (a solution from DePuy Synthes’ VELYS Digital Surgery platform for connected technologies).
LimaCorporate, in October 2022, did receive approval from the US FDA for a new-fangled shoulder platform emphasized on glenoid baseplate. Humeral stem is 3D-printed in its entirety. This dental implant system, using patented TT (Trabecular Titanium) technology, does aim to obtain robust primary fixation with successful growth of secondary bone.
Smith + nephew PLC, in September 2022, did launch OR3O dual mobility system for usage in revision and primary arthroplasty in Japan.
“With success for rheumatoid arthritis and osteoarthritis, the global market is bound to grow inadvertently shortly”, says an analyst from Future Market Insights.
How does the Report reconstruct itself?
The research study is based on technology (joint reconstruction devices for joint replacement, joint reconstruction devices for osteotomy, joint reconstruction devices for arthroscopy, joint reconstruction devices for resurfacing, joint reconstruction devices for arthrodesis, and joint reconstruction devices for other technologies), and by type (knee joint reconstruction devices, hip joint reconstruction devices, shoulder joint reconstruction devices, ankle joint reconstruction devices, and other joint reconstruction devices).
With growing occurrences of orthopedic diseases coupled with increasing geriatric population, the global joint reconstruction devices market is expected to witness a noteworthy CAGR shortly.
Key Segments Covered In The Joint Reconstruction Devices Industry Survey
Joint Reconstruction Devices Market by Technology:
Joint Reconstruction Devices for Joint Replacement
Joint Reconstruction Devices for Osteotomy
Joint Reconstruction Devices for Arthroscopy
Joint Reconstruction Devices for Resurfacing
Joint Reconstruction Devices for Arthrodesis
Joint Reconstruction Devices for Other Technologies
Joint Reconstruction Devices Market by Type:
Knee Joint Reconstruction Devices
Hip Joint Reconstruction Devices
Shoulder Joint Reconstruction Devices
Ankle Joint Reconstruction Devices
Other Joint Reconstruction Devices
Joint Reconstruction Devices Market by Region:
North America Joint Reconstruction Devices Market
Latin America Joint Reconstruction Devices Market
Europe Joint Reconstruction Devices Market
Asia Pacific Joint Reconstruction Devices Market
Middle East & Africa Joint Reconstruction Devices Market
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