The global joint reconstruction market is anticipated to grow at a significant CAGR of 5.4% during the forecast period. The major driving factor for the growth of the joint reconstruction market is the increase in the number of joint replacement procedures due to the rising geriatric population. According to American Joint Replacement Surgical Registry (AJRSR), there were 1,897,050 hips and knee Arthroplasty procedures performed between 2012 and 2019. This rising number of joint replacement procedures is fueling the demand for joint reconstruction devices among end-users, which in turn, is propelling the growth of the overall joint reconstruction industry. Another factor contributing to the growth of the Joint reconstruction market is the growing elderly population, and sports-related injury in the youngster as well as adults leading to joint reconstruction or replacement surgeries. However, the high cost of implants and alternative options is a major factor hindering the growth of the joint reconstruction market.
Get Sample Copy of this Report at
https://www.omrglobal.com/request-sample/joint-reconstruction-market-size
Furthermore, the rising demand for minimally invasive procedures for the treatment of orthopedic conditions is further contributing to the growth of the market as it reduces surgical trauma, brings relief to patients, and shortens recovery time. Furthermore, the adoption of advanced technology has been observed for surgeries. The trend toward robotics and high-precision instrumentation and the constant development of minimally invasive surgeries facilitate surgeons to offer improved patient outcomes.
The Asia-Pacific Region is Expected to Hold a Prominent Share in the Global Joint Reconstruction Market
The Asia-Pacific region is expected to hold a prominent share in the global defibrillators market. The significant presence of the geriatric population and rising incidences of orthopedic disorders coupled with rising joint replacement surgeries is primarily encouraging the market growth in the region as elderly people suffer more from joint pains and arthritis problems. With the advancement of age, bones become more prone to fractures and injuries that can lead to the replacement of joints in a particular area. Japan's market is expected to grow significantly due to the growing geriatric population in Japan, as 30.0% of the population is elderly inhabitants. In Addition, according to Aging Asia Organization, Thailand is ranked the third most rapidly aging population in the world. The number of people aged 60 and over is 13 million, which is 20.0% of the population.
by Joint type (Knee, hip, shoulders, ankle, and others), and
By Technique (Joint Replacement, Osteotomy, Arthroscopy, Resurfacing, and Arthrodesis)
Market Players Outlook
The major companies serving the global joint reconstruction market include Stryker Corp., Zimmer Biomet Holdings, Inc., Medtronic PLC, Ortho Development Corp., and ABS Corp, among others. These companies adopt various strategies such as partnerships, collaborations, finding a new market, and product innovations in their core competency to stay competitive in the market. For an instance, in January 2021, DJO a subsidiary of Colfax Corporation acquired Trilliant Surgical, which is a national provider of foot and ankle implants. Through this acquisition, Trilliant's portfolio complements DJO’s STAR system creating a dedicated foot and ankle business.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global joint reconstruction market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
Inquire for Discount on this Report at
https://www.omrglobal.com/report-customization/joint-reconstruction-market-size
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: [email protected]
Contact no: +91 780-304-0404