HealthTech

Joint Reconstruction Market Size Forecasted to Reach Valuation of USD 47.98 Billion In 2028

By Biswas Debanjan

Posted on November 15, 2021

A forecast of the global joint reconstruction market size has projected it to reach USD 47.98 billion in 2028 and register a CAGR of 6.2% during the forecast period. Increasing geriatric population across the globe, growing adoption of awareness programs and initiatives sponsored by governments are some factors influencing the market growth.

Joint disorders are commonly caused by regular and continuous movement as well as pressure on the joint areas. Joint injuries are more common in athletes and elderly people. Minimally invasive techniques can be used to perform joint reconstructive surgeries which offer significant pain relief. Joint reconstruction is a surgical process performed to repair and restore the full functions of joints in the body. Arrival of new surgical procedures and techniques has built an assurance among patients to opt for joint repair surgical procedures instead of joint replacement.

Increasing incidences of sports-related mishaps coupled with industrial and motor accidents are increasing demand for joint reconstruction procedures which is driving the joint reconstruction market. Moreover, increasing investments in healthcare industry and rising requirement for more effective and advanced technologies is surging the market growth. Also, various market players are developing new strategies such as investments in R&D, mergers, and acquisitions to sustain their position in the joint reconstruction market.

Joint Reconstruction Market

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Some key highlights in the report:

The knee segment accounted for the largest market revenue share in 2020 and is expected to continue its dominance over other join type segments in the global joint reconstruction market during the forecast period. Factors such as high occurrence of diseases and availability of advanced devices are increasing the demand for knee segment.
The joint replacement segment contributed to largest revenue share in the global market and is projected to register a high revenue CAGR over the forecast period. This surgery is recommended for patients with severe joint disorder and those who have been opting for non-surgical methods with no relief.
The hospital segment revenue is expected to rise at the highest CAGR and dominate other end-use segments throughout the forecast period. High CAGR is attributed to increasing demand for minimally invasive surgeries such as joint reconstruction in hospitals worldwide.
Asia Pacific market is projected to register fastest CAGR of 8.1% during the forecast period. Technological development in healthcare industry, accessibility to skilled surgeons and healthcare professionals combined with increasing consciousness about joint reconstruction are some significant factors supporting market growth in this region.
North America is expected to account for largest market revenue share as compared to other regional markets during the forecast period. Growing investments in the healthcare industry, increasing adoption of AI in medical processes, and increasing elderly population are some key factors propelling market growth in this region.
Key players operating in the global joint reconstruction market are Aesculap Implant Systems LLC, Zimmer-Biomet Holdings Inc., Smith and Nephew, Stryker Corporation, DePuy Synthes, Medtronic Inc., Omni Life Science, CONMED Corporation, Arthrex Inc., and Wright Medical Technology Inc.
Stryker Corporation announced its acquisition with Wright Medical Group NV in November 2020. Wright Medical is a global leader in lower and upper extremities and biologics market.

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)