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The joint reconstruction devices market expects to observe a stable growth trajectory across the assessment period of 2017-2025. The escalating popularity of minimally invasive surgeries among a considerable chunk of the populace will bring profitable growth for the joint reconstruction devices market.

  • 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. Thus, this aspect will bring tremendous growth opportunities for the joint reconstruction devices market.
  • Technological advancements also play a vital role in the growth of the joint reconstruction devices market. The advancements in designs, imaging techniques, materials, and others will invite great growth prospects for the joint reconstruction devices market. Furthermore, the increasing trend of robot-assisted surgeries will also bring promising growth.
  • Shorter hospital stay, patient and surgeon convenience, and less pain caused during surgery are some of the factors that will have a positive impact on the growth of the joint reconstruction devices market. Increasing investments in research and development activities by the players coupled with frequent strategic collaborations among varied players will influence the growth of the joint reconstruction devices market to a considerable extent.

Global Joint Reconstruction Devices Market: Overview

Joints are affected by various conditions such as osteoporosis, bone degenerative diseases, arthritis, and gout. Large number of people is susceptible to these conditions due to sedentary lifestyle and unhealthy diet. 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 hip replacement, total knee replacement, and anterior cruciate ligament. Hip replacement involves the reconstruction of damaged or diseased parts of the hip joint. Knee replacement is reconstruction of damaged knee joint. Nearly 90% patients achieve complete relief from pain after knee and hip replacement surgeries. Elderly people are more susceptible to joint disorders such as arthritis. According to the Arthritis Foundation, about 50 million adults in the U.S. had arthritis in 2016 and the number is projected to reach 67 million by 2030. Moreover, nearly 300,000 children have arthritis in the country.

Global Joint Reconstruction Devices Market: Drivers and Restraints

The global joint reconstruction devices market is expected to be driven by rise in demand for minimally invasive devices or techniques and increase in geriatric population during the forecast period. Additionally, increase in incidence of joint related diseases such as arthritis, bone degenerative diseases, osteoporosis, gout, and injuries are likely to fuel the growth of the joint reconstruction devices market during the forecast period. However, alternative treatment options and cost of implants restrain the global joint reconstruction devices market.

Global Joint Reconstruction Devices Market: Key Segments

The global joint reconstruction devices market can be segmented based on type, technique, and region. In terms of type, the joint reconstruction devices market can be categorized into knee, hip, shoulder, ankle, and others. The knee reconstruction devices segment accounted for the largest share of the joint reconstruction devices market in terms of revenue due to increase in awareness, rise in prevalence of arthritis, and frequent introduction of advanced devices. The success rates of knee surgery vary patient to patient; hence, repeat procedures or surgeries may be necessary to cure the disease. Joint reconstruction devices repeat knee surgeries help to generate additional revenue. The hip reconstruction devices segment is expected to grow at a rapid pace due to introduction of hip resurfacing and partial knee replacement and growing penetration of existing devices. Reconstruction therapies required for ankle have witnessed significant demand in the sports sector.

Based on technique, the global joint reconstruction devices market can be classified into joint replacement, arthroscopy, osteotomy, arthrodesis, resurfacing, and others. The joint replacement devices segment is projected to account for the largest joint reconstruction devices market share in terms of revenue during the forecast period because of high procedural volume and high price of implants. This segment can be divided into implants and bone graft.

Geographically, the global joint reconstruction devices market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Each region can be sub-divided into specific countries/sub-regions such as the U.S., Canada, Germany, the U.K., Brazil, China, India, Japan, and GCC Countries. North America dominated the global joint reconstruction devices market because of high prevalence of joint-related conditions, presence of a large number of industry players, favorable health care policies, and high disposable income of patients. Asia Pacific is anticipated to be the most attractive joint reconstruction devices market during the forecast period due to rapidly increasing prevalence of various joint disorders and large patient base.

Global Joint Reconstruction Devices Market: Key Players

Key players operating in the global joint reconstruction devices market are Medtronic, Zimmer-Biomet, Aesculap Implant Systems, LLC, Stryker, NuVasive, Inc., Smith & Nephew, DePuy Synthes, CONMED Corporation, and DJO Global, among others. These players have adopted various strategies such as collaborations, partnerships, agreements, and new product launches to gain competitive advantage in the joint reconstruction devices market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Joint Reconstruction Device Market

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