Hyderabad, Telangana -- (SBWIRE) -- 03/01/2023 -- Overview:

Artificial joints, also known as prosthetic joints, are devices used to replace damaged or diseased joints, such as those affected by arthritis. They are made of materials such as metal, ceramic, or plastic, and can be designed to replicate the natural movement and function of the joint being replaced. The global artificial joints market has been growing rapidly in recent years due to an increase in the prevalence of joint-related diseases, an aging population, and advancements in technology.

Market Growth and Future Apprehension:

The most recent USD Analytics report predicted that the worldwide "Artificial Joints Market" will expand at a high CAGR over the forecast period 2023 to 2030.

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Market Drivers:

One of the major drivers of the artificial joints market is the rising prevalence of joint-related diseases, such as osteoarthritis and rheumatoid arthritis. According to the World Health Organization, around 10% of men and 18% of women aged over 60 years have symptomatic osteoarthritis worldwide. In addition, the prevalence of rheumatoid arthritis is increasing, with an estimated 1% of the global population affected. These diseases can cause significant pain and disability, leading to a decreased quality of life. Artificial joints offer a way to alleviate pain and restore mobility, thereby improving the quality of life for patients with joint-related diseases.
Another factor contributing to the growth of the artificial joints market is the aging population. As the population ages, the number of people requiring joint replacement surgery is expected to increase. In addition, older patients may have more complex medical needs, requiring more specialized types of artificial joints.

Market Challenges:
One of the challenges facing the artificial joints market is the high cost of joint replacement surgery. While the cost of the implants themselves has decreased in recent years, the overall cost of the procedure, including hospitalization, anesthesia, and rehabilitation, can still be prohibitively expensive for many patients. In addition, insurance coverage for joint replacement surgery varies widely depending on the country and the type of insurance plan.

Market Opportunities:
One of the key opportunities in the artificial joints market is the development of personalized implants. With the advent of 3D printing technology, it is now possible to create customized implants that are tailored to an individual patient's anatomy. This can lead to better outcomes, as the implant can be designed to fit the patient's joint perfectly, reducing the risk of implant failure, and improving range of motion.

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Segmentation Analysis:
The global Artificial Joints Market is segmented based on Material, application

By Material:
- Ceramics
- Alloy
- Oxinium
- Others

By Application:
- Artificial Joints of Knee
- Artificial Joints of Hip
- Artificial Joints of Shoulder
- Others

Competitive Landscape:
The key players propel to the Artificial Joints Market include
- Aesculap AG,
- AK Medical,
- Arthrex,
- Biomet Inc.,
- Johnson and Johnson,
- DJO Global Inc.,
- Exactech, Inc.,
- Globus Medical Inc.,
- JRI Orthopaedics,
- Medtronic, Inc.

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Regional Analysis:
Throughout the projected period, North America is likely to have a dominating position in the global artificial joints market. This is mostly owing to the availability of sophisticated healthcare infrastructure, significant healthcare spending, and ongoing research and development endeavours in the creation of artificial joints. Asia Pacific is expected to expand faster than the rest of the world during the forecast period, owing to the existence of a large population suffering from joint-related disorders, as well as an unexplored market potential and improving healthcare infrastructure.