Global Joint Replacement Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Industry : Healthcare Date : May 15th, 2018
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The global joint replacement market is expected to grow form USD 19,144 million in 2017 to USD 31,889 million in 2024 at a CAGR 7.7% form 2018-2024. Factors driving the market are growing number of ageing population and growing number of chronic medical condition such as, rheumatoid arthritis, osteoarthritis, and osteoporosis. Moreover, technological advancements in hip and knee implantation such as robotic-assisted surgeries, and 3D printing are further boosting the market growth. The years used for the assessment are as follows:

Historical year: 2014, 2015 and 2016

Base year: 2017

Forecast period: 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on the data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys, and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year Impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the total global joint replacement market and its various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global joint replacement market
  • Finalizing the overall size and share of the global joint replacement market

OBJECTIVES:

  • To analyze market trends, opportunities, drivers, and restraints associated with the global joint replacement market
  • To study market response with respect to the mergers and acquisitions in the industry
  • To profile key companies operating in the global joint replacement market and provide their competitive landscape

MARKET SCOPE

The research scope for global joint replacement market is as follows:

By Type

  • Knees Replacement
    • Total Knee Replacement
    • Partial Knee Replacement
    • Revision Knee Replacement
  • Hip Replacement
    • Total Hip Replacement
    • Partial Hip Replacement
    • Revision Hip Replacement
    • Hip Resurfacing
  • Ankle Replacement
  • Shoulder Replacement
  • Others

By End-user

  • Hospitals
  • Orthopedic Centers
  • Ambulatory Surgery Center
  • Others

Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Joint Replacement: Hip and knee replacements are the most frequently performed joint replacements

Total joint replacement is a surgical procedure in which parts of an arthritic or damaged joint are removed and replaced with a metal, plastic or ceramic device called prosthesis. The prosthesis is designed to replicate the movement of a normal, healthy joint.

Factors driving the market are growing number of ageing population and growing number of chronic medical condition such as, rheumatoid arthritis, osteoarthritis, and osteoporosis. Moreover, technological advancements in hip and knee implantation such as robotic-assisted surgeries, and 3D printing are further boosting the market growth.

Osteoarthritis is the most common joint disease worldwide and primarily affects the hip, knee, spine, shoulder, and an ankle. It is a leading cause of disability among elder individual aged above 40 years. With a traditional knee and hip replacement, various size options are available but mostly they are all the same shape. The problems with hip and knee replacement are that these surgeries are very complex and each individual has not only different size but different shape and contours.

The advancement in technology such as 3D planning and 3D printing, material, and robotic-assisted joint replacement surgeries has improved the patient’s life and enhanced the market growth. 3D planning and 3D printing prosthesis has important applications in case of complex joint and bone condition where the shape and size is different. In recent years, manufacturer has developed innovative metals and plastics that make the replacement joint more durable, dependable and long-lasting. Another major advance has been developed in surgical implantation technology using robotic-assisted technology. It is commonly employed for prosthetic implantation in the management of degenerative condition of joints. The technology enhances the accuracy and precision in the alignment and placement of the joint implant.

North America held the maximum share of the global market in 2017, owing to growing number of aging population affected by joint disorders, heavy research, and development activities in knee and hip implant industry, and major player has introduced technologically advanced products to the consumer. Moreover, increasing government initiatives to approve and support medical devices, and other factors propelling the growth such as insurance coverage and adoption of new technology is driving the market growth. Europe held the second largest market share of the global market in 2017, owing to growing number of aging population suffering from autoimmune diseases such as rheumatoid arthritis, and technological advancement in surgery technique (robotics-assisted). In the United Kingdom around 85,000 knee replacement operations, every year due to growing incidence of knee joint disorders and a significant increase in obesity rates are contributing the growth of market. Asia-Pacific is expected to be the fastest growing market due to growing number of chronic diseases such as osteoporosis, osteoarthritis, and rheumatoid arthritis. Moreover, rapidly improving healthcare infrastructure and growing awareness among people regarding joint implantation is restraining the market growth.

joint replacement market

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Research methodology

1.2. Research scope & assumptions

1.3. List of data sources

CHAPTER 2. Executive Summary

2.1. Joint Replacement- Market snapshot

CHAPTER 3. Industry Analysis

3.1. Market definition

3.2. Market segmentation

3.3. Key findings of the global joint replacement market

3.4. Value chain analysis

3.5. Market opportunities & trends

3.5.1. Market driver analysis

   3.5.1.1. Increasing advancements in healthcare technologies

   3.5.1.2. Growing incidence of joint disorders

   3.5.1.3. Growing awareness among people

   3.5.1.4. Growing research and development activities

3.5.2. Market restraint analysis

             3.5.2.1. Higher cost of surgery

3.5.3. Industry Analysis-Porters five forces of analysis

CHAPTER 4. Competitive Outlook

4.1. Competitive analysis

4.2. Competitive factors

4.3. Strategies adopted

CHAPTER 5. Global Joint Replacement Market Size and Forecast (2014 – 2024)

5.1. Global Joint Replacement Market, By Type(USD Million)

5.1.1. Knees Replacement

  5.1.1.1. Total Knee Replacement

  5.1.1.2. Partial Knee Replacement

  5.1.1.3. Revision Knee Replacement

5.1.2. Hip Replacement

   5.1.2.1. Total Hip Replacement

   5.1.2.2. Partial Hip Replacement

   5.1.2.3. Revision Hip Replacement

    5.1.2.4. Hip Resurfacing

5.1.3. Ankle Replacement

5.1.4. Shoulder Replacement

5.1.5. Others

5.2. Global Joint Replacement Market, By End-user (USD Million)

5.2.1. Hospitals

5.2.2. Orthopedic Centers

5.2.3. Ambulatory Surgery Center

5.2.4. Others

CHAPTER 6. Global Joint Replacement Market Size and Forecast, By Geography (2014-2024)

6.1. North America Joint Replacement Market

6.1.1. North America Joint Replacement Market, By Type (USD Million)

6.1.2. North America Joint Replacement Market, By End-user (USD Million)

6.1.3. North America Joint Replacement Market, By Country (USD Million)

  6.1.3.1. U.S.

  6.1.3.2. Canada

  6.1.3.3. Mexico

6.2. Europe Joint Replacement Market

6.2.1. Europe Joint Replacement Market, By Type (USD Million)

6.2.2. Europe Joint Replacement Market, By End-user (USD Million)

6.2.3. Europe Joint Replacement Market, By Country (USD Million)

   6.2.3.1. Germany

   6.2.3.2. France

   6.2.3.3. U.K.

   6.2.3.4. Italy

   6.2.3.5. Russia

   6.2.3.6. Rest of Europe

6.3. Asia-Pacific Joint Replacement Market

6.3.1. Asia-Pacific Joint Replacement Market, By Type (USD Million)

6.3.2. Asia-Pacific Joint Replacement Market, By End-user (USD Million)

6.3.3. Asia-Pacific Joint Replacement Market, By Country (USD Million)

   6.3.3.1. China

   6.3.3.2. Australia

   6.3.3.3. Japan

   6.3.3.4. Korea

   6.3.3.5. South Asia

   6.3.3.6. India

   6.3.3.7. Rest of Asia-Pacific

6.4. South America Joint Replacement Market

6.4.1. South America Joint Replacement Market, By Type (USD Million)

6.4.2. South America Joint Replacement Market, By End-user (USD Million)

6.4.3. South America Joint Replacement Market, By Country (USD Million)

   6.4.3.1. Brazil

   6.4.3.2. Colombia

   6.4.3.3. Argentina

   6.4.3.4. Rest of South America

6.5. Middle East and Africa Joint Replacement Market

6.5.1. Middle East and Africa Joint Replacement Market, By Type (USD Million)

6.5.2. Middle East and Africa Joint Replacement Market, By End-user (USD Million)

6.5.3. Middle East and Africa Joint Replacement Market, By Country (USD Million)

   6.5.3.1. Saudi Arabia

   6.5.3.2. UAE

   6.5.3.3. Egypt

   6.5.3.4. Nigeria

   6.5.3.5. South Africa

   6.5.3.6. Rest of Middle East and Africa

CHAPTER 7. Key Players and Strategic Developments

7.1. B. Braun Melsungen AG

7.1.1. Business Overview

7.1.2. Product and Service Offering

7.1.3. Financial Overview

7.1.4. Strategic Developments

7.2. Stryker Corporation

7.2.1. Business Overview

7.2.2. Product and Service Offering

7.2.3. Financial Overview

7.2.4. Strategic Developments

7.3. Zimmer Biomet

7.3.1. Business Overview

7.3.2. Product and Service Offering

7.3.3. Financial Overview

7.3.4. Strategic Developments

7.4. AK Medical Holdings Limited

7.4.1. Business Overview

7.4.2. Product and Service Offering

7.4.3. Financial Overview

7.4.4. Strategic Developments

7.5. Dragonbio

7.5.1. Business Overview

7.5.2. Product and Service Offering

7.5.3. Financial Overview

7.5.4. Strategic Developments

7.6. Corin Group

7.6.1. Business Overview

7.6.2. Product and Service Offering

7.6.3. Financial Overview

7.6.4. Strategic Developments

7.7. Mathys AG Bettlach

7.7.1. Business Overview

7.7.2. Product and Service Offering

7.7.3. Financial Overview

7.7.4. Strategic Developments

7.8. Smith & Nephew

7.8.1. Business Overview

7.8.2. Product and Service Offering

7.8.3. Financial Overview

7.8.4. Strategic Developments

7.9. Waldemar LINK GmbH & Co. KG

7.9.1. Business Overview

7.9.2. Product and Service Offering

7.9.3. Financial Overview

7.9.4. Strategic Developments

7.10. Medacta International

7.10.1. Business Overview

7.10.2. Product and Service Offering

7.10.3. Financial Overview

7.10.4. Strategic Developments

7.11. Exactech, Inc.

7.11.1. Business Overview

7.11.2. Product and Service Offering

7.11.3. Financial Overview

7.11.4. Strategic Developments

7.12. DePuy Synthes

7.12.1. Business Overview

7.12.2. Product and Service Offering

7.12.3. Financial Overview

7.12.4. Strategic Developments

7.13. Johnson & Johnson Services, Inc.

7.13.1. Business Overview

7.13.2. Product and Service Offering

7.13.3. Financial Overview

7.13.4. Strategic Developments

Global Joint Replacement Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation and Forecast 2024