Sarasota, FL -- (SBWire) -- 02/01/2019 --Global Joint Replacement Devices Market: Overview
Joint implants are used for replacing a damaged joint ligament to reduce the pain as well as restoring the joint functionality in the patient. The prominent rise in the geriatric population along with the rise in success of hip & knee implant surgeries is likely to steer joint replacement devices market trends. With massive awareness about the joint implants in both patient as well as physicians is likely to unleash new growth avenues for joint replacement devices business. It will also promote the culture of product innovation among the new entrants as well as the established players across joint replacement devices market in the near future.
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Global Joint Replacement Devices Market: Growth Factors
Technological breakthroughs resulting in improved design in implants for ankle and shoulders along with escalated awareness about the joint replacement devices is likely to steer the growth graph of joint replacement devices market in the upward direction. The surge in the patient population, lucrative demand for customized knee implants, and the introduction of new government schemes is projected to provide lucrative growth avenues for joint replacement devices market in the years ahead. However, product recalls by US FDA and many other regional regulatory authorities along with massive awareness about alternative therapies are some of the pivotal challenges that can impact the business profits.
In addition, manufacturers of joint replacement devices avoid investing of both manpower as well as financial resources for product innovation or new product development when the proceeds and ROI are predicted to be low. This will further hinder the joint replacement devices market growth in the near future. Nevertheless, long term planning for manufacturing new devices along with massive R&D activities witnessed in small joint implants market is projected to provide new horizons of growth for joint replacement devices market in the ensuing years. It is also going to help the manufacturers accrue huge payoffs.
Global Joint Replacement Devices Market: Segmentation
The global joint replacement devices market can be classified based on product type, technique, indication, and end-user. On the basis of product type, the market is sectored into Knee Reconstruction Devices, Hip Reconstruction Devices, and Extremity Reconstruction Devices. Based on the technique, the joint replacement devices market is classified into Traditional Surgery, Minimally Invasive Surgery (MIS), and Computer-assisted Surgery (CAS). Based on the type of fixation, the market is segmented into Cementless, Hybrid, and Cemented fixation types. On the basis of indication, the market is classified into Osteoarthritis, Rheumatoid Arthritis, Hip Dysplasia, Orthopedic Trauma, and Joint Stiffness. End-user wise, the market is sectored into Hospitals, Orthopedic Clinics, and Ambulatory Surgical Centers.
Global Joint Replacement Devices Market: Regional Analysis
Based on regions, the global joint replacement devices market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Presence of key market players, rapid acceptance of new technology, and the launching of new products are anticipated to drive the growth of joint replacement devices market in the Asia Pacific during the forecast period. The rise in prevalence of orthopedic disorders requiring joint replacements and increase in geriatric population in emerging economies such as China, India, and Australia are anticipated to propel the Asia Pacific joint replacement devices market trends. Additionally, price caps on knee implants by government authorities, increase in health care expenditure, and rise in the number of mergers & acquisitions are expected to propel the market size
The joint replacement devices market earnings in Latin America and Middle East & Africa is anticipated to witness an exponential rise, owing to the introduction of favorable government schemes for providing cost-effective treatments for orthopedic ailments and availability of orthopedic care services in various countries. Furthermore, massive focus on strengthening the health care system to provide quality care in countries such as UAE and Saudi Arabia is expected to unfurl unprecedented avenues of growth for the market players and help the business attain scalable heights.
Technological breakthroughs witnessed in countries such as the U.S., Canada, UK, and Germany is likely to provide new horizons of growth for joint replacement devices business in North America and Europe.
Global Joint Replacement Devices Market: Competitive Players
The key players in the global joint replacement devices market include Aesculap Implant Systems, Arthrex, Inc., ConforMIS, DePuy Synthes (a Johnson & Johnson Company), DJO Global, Exactech, Inc., Medtronic, Smith & Nephew, Stryker, and Zimmer Biomet.
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Global Joint Replacement Devices Market: Regional Segment Analysis
North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
Joint Replacement Devices Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026
Zion Market Research, The Market Research Group Announced The Analysis Report Titled "Joint Replacement Devices Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026 "