About Joint Replacement Devices
Joint replacement devices are used in the joint replacement surgeries for treating rheumatoid arthritis and osteoarthritis. Growing geriatric population and rising number of hip & knee implant surgeries driving the demand for joint replacement devices. Further, technological advancement in the joint replacement process such as smart knee implant and customized knee implant expected to drive the demand for joint replacement devices over the forecasted period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Joint Replacement Devices market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Stryker (United States), Johnson & Johnson (United States), Zimmer Inc. (United States), Smith & Nephew (United Kingdom), Medtronic (United States), Synthes (United States), Biomet (United States), Aesculap (United States), Arthrex, Inc. (United States), ConforMIS (United States) and PeerWell (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are DJO Global (United States), Exactech, Inc. (United States) and Wright Medical Group (United States).
Segmentation Overview
AMA Research has segmented the market of Global Joint Replacement Devices market by Type (Knee Reconstruction Devices, Hip Reconstruction Devices and Extremity Reconstruction Devices) and Region.
On the basis of geography, the market of Joint Replacement Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Fixation, the sub-segment i.e. Cementless will boost the Joint Replacement Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Indication, the sub-segment i.e. Osteoarthritis will boost the Joint Replacement Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Hospitals will boost the Joint Replacement Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technique, the sub-segment i.e. Traditional Surgery will boost the Joint Replacement Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emphasizing On the Cost-Effective Treatments for Orthopedic Disorder and Emergence of Smart Knee Implants
Market Growth Drivers:
Growing Number of Patients with Orthopedic Disorders and Increasing Demand from the Cementless Joint Replacement Surgeries
Challenges:
Availability of Other Orthopedic Care Services
Restraints:
Stringent Government Regulations Regarding the Medical Devices and High Cost of the Joint Replacement Devices
Opportunities:
Increasing Demand for the Customized Knee Implants and Growing Healthcare Infrastructure in the Developing Economies
Market Leaders and their expansionary development strategies
In December 2023, Stryker, one of the world’s leading medical technology companies, announced that it has executed a binding offer to Menix to acquire SERF SAS, a France-based joint replacement company.
In January 2023, Aster Medcity, the leading healthcare brand launched the fully automated, high precision, joint replacement robot for knee replacement surgeries. Suresh Gopi, Ex-MP and popular Malayalam Film actor launched the new equipment inculcating upgraded features
“In January 2013, the FDA published a proposed order to allow for notice and comment regarding the FDA's recommendation to change the requirements for all metal-on-metal (MoM) total hip implants from premarket notification, to premarket approval, the most stringent regulatory category of the FDA's oversight for medical devices. A final order was published in February 2016 and the requirement for filing premarket approvals was effective in May 2016. Since that time, all manufacturers of MoM total hip implants are required to stop marketing their devices and submit premarket approvals that must be approved before the devices can be marketed.”
Key Target Audience
Joint Replacement Devices Manufacturers, Joint Replacement Devices Distributors, Academic and Government Research Institutes, Venture Capitalists and Investment Banks, Potential Investors, Government Bodies, Business Research and Consulting Service Providers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.