Global Artificial Joints Market Report Description:
Global artificial joints market report gives comprehensive outlook on artificial joints across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global artificial joints market gives historical, current, and future market sizes (US$ Mn) on the basis of material, application, end user, and region. This report studies global artificial joints market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global artificial joints market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global artificial joints market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global artificial joints market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global artificial joints products.
Global Artificial Joints Market:
The global artificial joints market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025 owing to increasing prevalence and incidence of osteoarthritis and arthritis coupled with rising geriatric population are the major factors that are driving the growth of the artificial joints market. Moreover, increasing obese population and unhealthy food habits which results in obesity, that tends to develop knee, and hip replacement surgeries fuels the growth of the market over the forecast period. Additionally, musculoskeletal disorders, hypertension and other lifestyle diseases boosts the growth of the market over the forecast period. However, high cost and complications associated with the artificial joint surgery is likely to hinder the growth of the market over the forecast years.
Increasing Prevalence of Osteoarthritis and Arthritis
The prevalence of OA is increasing due to population ageing and an increase in related factors such as obesity. According to the United Nations, by 2050 people aged over 60 will account for more than 20% of the world’s population. Of that 20%, a conservative estimate of 15% will have symptomatic OA, and one-third of these people will be severely disabled. This means that by 2050, 130 million people will suffer from OA worldwide, of whom 40 million will be severely disabled by the disease. Costs associated with OA include costs for adaptive aids and devices, medicines, surgery, and time off at work. Moreover, OA has no cure, which is usually treated up on the symptoms with the combination of therapies.
North America Accounts for Larger Market Revenue Share in Global Artificial Joints Market
North America accounted for larger revenue share in global artificial joints market with significant CAGR and is expected to grow over the forecast years owing to adoption of advanced technology and increasing prevalence of obese population and high cost for implantable joints and upsurge in funding by the government agencies and private organizations in healthcare boosts the growth of the market. Europe and Asia Pacific are expected show significant growth over the forecast period due to increasing obese population and growing geriatric population fuels the growth of the market over the forecast period.
Key player’s profiles in the global artificial joints market include:
- Aesculap AG
- Biomet, Inc.
- Depuy Synthes (Johnson & Johnson)
- DJO Global, Inc.
- Exactech, Inc.
- Globus Medical
- JRI Orthopaedics
- Medtronic, Inc.
- NuVasive, Inc.
- Smith & Nephew
- Stryker Corp.
- Zimmer Holdings
Global artificial joints market is surging owing to product launchings by the market players and strategic collaborations among them to strengthen their position in the market. For instance, in October 2018, Zimmer Biomet Holdings, Inc., a global leader in musculoskeletal healthcare, in collaboration with Apple by using Apple Watch and iPhone to change the patient journey for two of the most common surgeries Americans undergo each year – knee and hip replacement by launching Zimmer Biomet mymobility™.
Key Findings of the Report:
- Global artificial joints market expanding at significant CAGR over 2018 to 2024 owing to increase in the prevalence of osteoarthritis and arthritis
- Based on application, Hip & Knee artificial joints accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global artificial joints market
- Other Materials
- Hip & Knee
By End User
- Prosthetic Clinics
- Rehabilitation Centers
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market