Orthopedic Joint Replacement Market Size (2022-2030) Share, Industry Trends, Growth, Challenges, and Forecast: Growth Plus Reports

Newark, New Castle, USA,, Feb. 06, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled, “Orthopedic Joint Replacement Market by Product, (Knee, Hip, Ankle), Procedure (Total Replacement, Partial Replacement)– Global Outlook & Forecast 2022-2030 ” published by Growth Plus Reports, the orthopedic joint replacement market is expected to grow at a CAGR of 7.5% from 2021 to reach US$ 35.80 billion by 2030. Growing demand for minimally invasive robotic surgeries, and technological advancement in implants to drive the market growth, states Growth Plus Reports.

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Orthopedic joint replacement surgery is a highly successful treatment option for injured, deformed or deteriorated joints. Patients eligible for joint replacement surgery often have long-term joint pain, mobility issues, injuries, severe trauma and other such musculoskeletal issues interfering with daily activities. No conservative treatment can provide the same level of long-term relief as joint replacement surgery. After having orthopedic joint replacement surgery, the majority of patients are able to go back to their active and fulfilling lives. Additionally, joint replacement surgery is a tried-and-true remedy. Each year, joint replacement procedure is performed on hundreds of thousands of patients, making it a well-accepted and often utilized orthopedic treatment. Growing incidence of sports injuries, rapidly increasing geriatric population, increasing prevalence of skeletal conditions such as osteoporosis drive the global orthopedic joint replacement market.

The global orthopedic joint replacement market has been analyzed from three perspectives: Product, Procedure, and Region.

Excerpts from ‘by Product’

According to products, the global orthopedic joint replacement market is divided into:

  • Knee
  • Hip
  • Ankle
  • Shoulder
  • Other Segments

The majority of the market is occupied by knee replacement segment. High prevalence of knee degeneration and injuries due to underlying conditions such as rheumatoid arthritis, osteoporosis, and obesity is a key factor attributed to the predominant position of knee joint replacement segment. The growth of total knee replacement (TKR) surgeries as well as the launch of novel complete and partial knee implants for both complete and partial knee replacements are predicted to propel the market. In the knee joint replacement segment, there is a increased preference for cementless artificial joints by surgeons. On the other hand, the demand for shoulder joint replacement is anticipated to remain high through the forecast period, owing to rising incidence of sports-associated shoulder injuries and road traumas.

Excerpts from ‘By Procedure’

The global orthopedic joint replacement market, based on procedures, is divided into:

  • Total Replacement
  • Partial Replacement
  • Others

Total replacement is the most commonly performed joint replacement surgery, therefore giving the segment the top position in terms of market share in 2021. Total joint replacement is a surgical procedure wherein diseased or arthritic joint parts are completely removed and replaced with a metal, plastic, or ceramic prosthesis. Primarily, the total joint replacement segment is commands the orthopedic joint replacement market, due to the high number of products available compared to partial joints. Moreover, the demand for total joint replacement implants is increasing as it provides more effective and long-term results, in turn gathering higher preference from surgeons.

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Excerpts from ‘By Region’

Geographically, the global orthopedic joint replacement market is segmented into:

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

North America held the leading position on the global front. This is attributed to high prevalence of orthopedic diseases such as arthritis, osteoarthritis etc. As per the National Center for Chronic Disease Prevention and Health Promotion (U.S.), 24% of the U.S. adults representing 58.5 million individuals have arthritis. Additionally, extensive usage of cutting-edge treatment techniques and the high prevalence of orthopedic ailments such as knee degenerative disorders are likely to fuel market expansion in the US. For instance, in 2016, about 600,000 knee replacements and 300,000 hip replacements are annually performed in the U.S (American Academy of Orthopaedic Surgeons). Moreover, as a result of a rise in traffic accidents in the U.S., the procedure rate of orthopedic joint replacement surgeries is rising. Asia Pacific region is anticipated to show high growth in the coming years. The Asia Pacific orthopedic joint replacement market is driven by rapidly rising elderly population, and the corresponding incidence of osteoporosis and osteoarthritis.

Excerpts from ‘Competitive Landscape’

Some of the prominent players operating in the global orthopedic joint replacement market are:

  • Johnson & Johnson Services, Inc.
  • Stryker Corporation
  • Smith & Nephew plc
  • Arthrex Inc.
  • Zimmer Biomet Holdings Inc.
  • Integra Lifesciences Corp.
  • MicroPort Orthopedics Inc. (MicroPort Scientific Corporation)
  • B. Braun Melsungen AG
  • Exactech Inc.
  • Corin Group.

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem
    2. Timeline Under Consideration
      1. Historical Years – 2020
      2. Base Year – 2021
      3. Forecast Years – 2022 to 2030
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources
      2. Primary Sources
    4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions
  3. PREMIUM INSIGHTS
    1. Current Market Trend (COVID-19 Perspective)
    2. Technological Trends
    3. Key Players & Competitive Positioning (2021)
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
  5. GLOBAL ORTHOPEDIC JOINT REPLACEMENT MARKET- ANALYSIS & FORECAST, BY PRODUCT 
    1. Knee 
    2. Hip 
    3. Ankle 
    4. Shoulder
    5. Others 
  6. GLOBAL ORTHOPEDIC JOINT REPLACEMENT MARKET – ANALYSIS & FORECAST, BY PROCEDURE
    1. Total Replacement
    2. Partial Replacement 
    3. Others 

TOC Continued…

VALUE PROPOSITIONS RELATED TO THE REPORT:

  • Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
  • Comprehensive quantitative and qualitative insights at segment and sub-segment level
  • Covid 19 impact trends and perspective
  • Granular insights at global/regional/country level
  • Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
  • Blanket coverage on competitive landscape
  • Winning imperatives
  • Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market

CUSTOMIZATION OPTIONS:

  • Distributor Landscape Assessment
  • Pricing Intelligence
  • Customer Base Assessment
  • Investment & Initiatives Analysis
  • ‘Business Profile’ of Key Players

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About Us:

Growth Plus Reports is part of GRG Health, a global healthcare knowledge service company. We are proud members of EPhMRA (European Pharmaceutical Marketing Research Association).

Growth Plus portfolio of services draws on our core capabilities of secondary & primary research, market modelling & forecasting, benchmarking, analysis and strategy formulation to help clients create scalable, ground-breaking solutions that prepare them for future growth and success.

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