Industry Background:
In a joint replacement, the anomalous bone and lining structures of the joint are removed surgically, and new parts are implanted in their places. These new parts may be made of plastic or special metal or particular kinds of carbon-coated implants. The new parts permit the joints to move again with little or no pain. Small joints replacement is an effective treatment for moderate to severe osteoarthritis of the hand. Now a days, several design and materials are available for prostethic procedures with very different clinical and functional outcomes.
According to AMA Research, the market for Small Joint Replacement is expected to register a CAGR of 7.3% during the forecast period to 2030. This growth is primarily driven by Increasing Prevalence of Osteoporosis and Osteoarthritis
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Johnson & Johnson Services Inc (United States), Zimmer Biomet Holdings (United States), Stryker Corporation (United States), Smith & Nephew (United Kingdom), Wright Medical Group N.V. (United States), B. Braun Melsungen AG (Germany), Integra LifeSciences (United States), Corin Group (United Kingdom), KeriMedical SA (Switzerland) and Marle SA (France), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 23rd February 2022, Stryker announced that the previously announced acquisition of Vocera Communications, Inc., a leader in digital care coordination and communication, has been completed. This acquisition opens up significant opportunities for us to advance innovations and accelerate our digital ambitions.
On 10th March 2022, Zimmer Biomet Holdings, Inc., a global medical technology leader, has launched WalkAI, a dynamic artificial intelligence (AI) model that identifies patients who are predicted to have a lower gait speed outcome 90 days after hip or knee surgery. WalkAI, the company's first AI-based solution, augments ZBEdge, a suite of integrated smart, digital, and robotic technologies designed to deliver transformative data-powered clinical insights to improve patient outcomes.Among the major players in the global small joint replacement market are Zimmer Biomet, Stryker, Johnson & Johnson (DupeySynthese), Smith & Nephew, Wright Medical, Exactech, Integra Lifesciences, B. Braun Melsungen (Aesculap), Arthrex, Corin Group, and others. To gain a competitive advantage, these companies are pursuing a variety of growth and expansion strategies. Value chain integration with business operations is also followed by industry participants at multiple stages of the value chain.
Regulatory Insights:
The CoPs are regulations that are almost entirely focused by statute on protecting the health and safety of all patients, and they are intended to be the baseline health and safety requirements on which hospitals, accreditation organizations, states and localities, and professional organizations can add and build more specific and stringent requirements. We should note that the CoPs already require hospitals to comply with applicable federal laws about patient health and safety.
Influencing Trend:
Technological Advancements in Small Joint Replacement Sector
Market Growth Drivers:
Increasing Prevalence of Osteoporosis and Osteoarthritis, Growth of Advanced Implants and Materials That Are Long-Lasting and Rising Awareness Regarding Reconstructive Procedures
Challenges:
Lack of Healthcare Infrastructure in Under Developed and Developing Regions
Restraints:
High Cost Related To Joint Replacement Surgeries
Opportunities:
Promising Reimbursements for Small Joint Replacement
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Small Joint Replacement Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Small Joint Replacement Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Small Joint Replacement players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Small Joint Replacement Study Sheds Light on
The Small Joint Replacement Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Small Joint Replacement industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Small Joint Replacement industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.