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Joint Replacement Market Size 2019 – Growing Demand Status of Top Manufacturers with Industry Share, Size, Projection, Consumption Forecast to 2024

Joint

The “Joint Replacement Market” report 2019 provides information for market players, stakeholders, investors, and business strategists to achieve a leading position the market. It maintains the record of Unusual growth strategies adopted by various companies are creating new standards for competition in the global Joint Replacement market. Businesses around the world are aiming at increasing their profit margin and establishing a stronghold in the global market. The impact of prevailing regulatory scenario on both regional and worldwide Joint Replacement market is provided in detail in the report.

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Joint Replacement Market Covers Key Players:

  • B. Braun Melsungen AG
  • Corin Group
  • DJO Global, Inc.
  • Depuy Synthes (Johnson & Johnson)
  • Smith & Nephew
  • Stryker Corporation
  • Uteshiya Medicare
  • Wright Medical Group
  • Zimmer Biomet Holdings, Inc.

    Market Overview:

  • The global joint replacement market is expected to witness a CAGR of 4.52% during the forecast period. Certain factors that are driving the market growth include the increasing prevalence of osteoarthritis, the rising cases of orthopedic injury, and an increasing geriatric population.
  • Osteoarthritis plays a steller role in driving the joint replacement market by influencing the procedure volume. According to data provided by the Arthritis Foundation, in 2017, about 54.4 million adults in the United States had doctor-diagnosed arthritis. Along with this, osteoarthritis is the most common type of arthritis in the United Kingdom, predicted to affect nearly 9 million people. The rising incidences of symptomatic osteoarthritis and post-traumatic arthritis are due to the growing aging segment of the population across the world.
  • Other factors, such as an increasing geriatric population and a number of orthopedic injuries are also expected to drive the market over the forecast period.
  • However, the cost of this procedure is becoming a major hindrance for the growth of the joint replacement market in developing and the underdeveloped countries. According to the research article “The Cost of Joint Replacement”, published in 2018, the total cost per hip replacement was USD 22,076, whereas total cost per knee replacement was USD 29,488.
  • Additionally, the presence of alternative methods is also restraining the market’s growth.

    Report Highlights:

    • The report provides a detailed analysis on current and future market trends to identify the investment opportunities
    • Market forecasts till 2024, using estimated market values as the base numbers
    • Key market trends across the business segments, Regions and Countries
    • Key developments and strategies observed in the market
    • Market Dynamics such as Drivers, Restraints, Opportunities and other trends
    • In-depth company profiles of key players and upcoming prominent players
    • Growth prospects among the emerging nations through 2024
    • Joint Replacement Market opportunities and recommendations for new investments

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    Scope of the Report:

  • Joint replacement surgery is performed most frequently to replace joints, which involves the complete or partial removal of the damaged joint and tissues, to be replaced with new, man-made parts. The purpose of such a procedure is to relieve pain and restore a sense of normal function and mobility into the damaged joint. These joint replacement surgeries are predominantly suggested for patients undergoing severe pain and disability as a result of progressive arthritis. The devices for joint replacement surgeries include implants, grafts, and all oher instruments related to joint replacement procedure.

    Key Market Trends:

    Knee Replacement is Expected to Hold a Significant Market Share in the Procedure Segment

    The knee replacement segment is the leading segment, expected to witness major growth during the forecast periods, owing to the rising burden of the geriatric population, the growing prevalence of osteoarthritis and other chronic diseases like osteoporosis, and diabetes. Total knee arthroplasty (TKA), also known as total knee replacement, is one of the most frequently performed orthopaedic procedures. Along with this, several studies have revealed the improvement in functionality after knee arthroplasty in the obese population. Data from “The Second Australian Atlas of Healthcare Variation” showed that 53% of total knee replacements in Australia are due to obesity, as obesity puts excess pressure on weight-bearing joints.

    The Market is Dominated by North America and is Expected to Remain the Same in the Forecasted Period

    Owing to the presence of well-established healthcare facilities, the rise in geriatric population in the region, and certain other factors, like the rising number of orthopaedic procedures, North America is likely to dominate the joint replacement market. In general, hip, knee and other joint replacement procedures are among the most common elective surgeries in the United States. The average age of patients undergoing hip replacement operations although continues to decrease, but more men are undergoing these operations than in the past, according to a study presented at the American Academy of Orthopaedic Surgeons’ annual meeting. According to the American Academy of Orthopedic Surgeons, by 2030, total knee replacement surgeries are projected to grow 673% to 3.5 million procedures per year. This high projected number is indicative of the likely market growth during the forecast period. In addition, the market is also driven by the presence of all the leading manufacturers of the studied market.

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    Detailed TOC of Joint Replacement Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Increasing Prevalence of Osteoarthritis
    4.2.2 Rising Number of Cases of Orthopedic Injury
    4.2.3 Increasing Geriatric Population
    4.3 Market Restraints
    4.3.1 Availability of Alternatives
    4.3.2 Cost of the Procedure
    4.4 Porter’s Five Force Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Procedure
    5.1.1 Hip Replacement
    5.1.2 Knee Replacement
    5.1.3 Elbow Replacement
    5.1.4 Ankle Replacement
    5.1.5 Other Prodecures
    5.2 By Products
    5.2.1 Implants
    5.2.1.1 Metallic
    5.2.1.2 Ceramic
    5.2.1.3 Polymeric Biomaterials
    5.2.2 Bone Grafts
    5.2.2.1 Allograft
    5.2.2.2 Synthetic
    5.2.3 Other Products
    5.3 Geography
    5.3.1 North America
    5.3.1.1 US
    5.3.1.2 Canada
    5.3.1.3 Mexico
    5.3.2 Europe
    5.3.2.1 Germany
    5.3.2.2 UK
    5.3.2.3 France
    5.3.2.4 Italy
    5.3.2.5 Spain
    5.3.2.6 Rest of Europe
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 Japan
    5.3.3.3 India
    5.3.3.4 Australia
    5.3.3.5 South Korea
    5.3.3.6 Rest of Asia-Pacific
    5.3.4 Middle East & Africa
    5.3.4.1 GCC
    5.3.4.2 South Africa
    5.3.4.3 Rest of Middle East & Africa
    5.3.5 South America
    5.3.5.1 Brazil
    5.3.5.2 Argentina
    5.3.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 B. Braun Melsungen AG
    6.1.2 Corin Group
    6.1.3 DJO Global, Inc.
    6.1.4 Depuy Synthes (Johnson & Johnson)
    6.1.5 Smith & Nephew
    6.1.6 Stryker Corporation
    6.1.7 Uteshiya Medicare
    6.1.8 Wright Medical Group
    6.1.9 Zimmer Biomet Holdings, Inc.

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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