Market Overview:
The global joint replacement systems market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing incidence of arthritis, technological advancements in joint replacement systems, and rising awareness about advanced treatment options for joint diseases. The global joint replacement systems market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into total joint replacements and partial joint replacements. Partial knee replacements are expected to grow at a higher CAGR than total knee replacements during the forecast period owing to their ability to preserve more bone mass and ligaments as compared with total knee replacements. On the basis of application, hospitals are expected to account for a larger share of the global Joint Replacement Systems Market than clinics duringthe forecast period owingto better reimbursement ratesand infrastructure facilities available in hospitals as compared with clinics.
Product Definition:
A joint replacement system is a device that replaces a worn or damaged joint. The device can be made from metal, plastic, or ceramic and is designed to restore the function of the joint. Joint replacement systems are used to treat conditions such as arthritis, rheumatoid arthritis, and osteoarthritis.
Total Joint:
Total joint, also known as arthroplasty knee or total replacement knee is a surgical procedure that involves replacing the damaged or diseased joint. The most common reasons for total joint replacement are arthritis and osteoarthritis. Other conditions affecting joints may also require a TKR ( Total Joint Replacement) such as ligament injuries, cartilage defects, meniscus tears and other wear debris in the joints which can be treated by this surgery.
Partial Joint:
The partial joint is a small part of the bone that is damaged or removed during arthroscopy. It can be used to replace any component in a total joint replacement system. The Partial Joint and it's usage in Joint Replacement Systems market size was valued at USD 1,15,000 million in 2016 and is expected to grow at CAGR of XX% over the forecast period.
Application Insights:
The total joint replacement segment dominated the market in 2017 and is expected to maintain its dominance over the forecast period. This can be attributed to growing geriatric population, rising cases of obesity and diabetes, increasing incidence of trauma injuries due to road accidents and sports injuries coupled with high demand for technologically advanced products.
Total joint replacement accounted for nearly 40% share in 2017 owing to its wide application scope including knee & hip joints, shoulder (elbow) joints as well as other associated organs such as ankles & feet. The introduction of minimally invasive surgeries has further increased the adoption rate among patients suffering from severe arthritis or rheumatoid arthritis. Minimally invasive surgeries involve use of small incisions instead of large ones which result in less postoperative pain & allow faster recovery time along with easier movement after surgery compared to traditional open surgeries.
Regional Analysis:
North America dominated the global market in 2017. The presence of well-developed healthcare infrastructure, high patient awareness levels coupled with relatively higher healthcare spending in this region are some factors responsible for its large share. In addition, favorable reimbursement policies for advanced surgical procedures and growing demand from military sector are also contributing towards the growth of this regional market.
Asia Pacific is expected to witness lucrative growth over the forecast period owing to increasing geriatric population, improving economic conditions and rising health consciousness among people in this region. Moreover, government initiatives encouraging medical tourism are also expected to boost industry expansion over the next eight years. For instance, Medical Tourism Promotion Act 2005 was introduced by Government of India which provides various benefits such as tax holiday on medical expenditure etc.
Growth Factors:
- Increasing geriatric population: The global geriatric population is expected to grow at a CAGR of around 7% during the forecast period. This will lead to an increase in the demand for joint replacement surgeries, as a majority of the elderly population suffers from arthritis and other joint-related problems.
- Technological advancements: The advancement of technology has led to the development of new and innovative joint replacement systems, which are more effective and cause less pain than traditional replacements. This is likely to boost the demand for these systems in the coming years.
- Rising awareness about benefits of surgery: There is a growing awareness among people about the benefits of surgery over medication or other non-invasive treatments for joint problems such as arthritis. As a result, there is an increasing demand for joint replacement surgeries, which will drive market growth in this segment during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Joint Replacement Systems Market Research Report
By Type
Total Joint, Partial Joint
By Application
Hospital, Clinic, Other
By Companies
Stryker Corporation, Zimmer Biomet, Exactech, Smith & Nephew, Johnson & Johnson, Conformis, Corin Group, Orthofix, Globus Medical, Arthrex
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
200
Number of Tables & Figures
140
Customization Available
Yes, the report can be customized as per your need.
Global Joint Replacement Systems Market Report Segments:
The global Joint Replacement Systems market is segmented on the basis of:
Types
Total Joint, Partial Joint
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Clinic, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Stryker Corporation
- Zimmer Biomet
- Exactech
- Smith & Nephew
- Johnson & Johnson
- Conformis
- Corin Group
- Orthofix
- Globus Medical
- Arthrex
Highlights of The Joint Replacement Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Total Joint
- Partial Joint
- By Application:
- Hospital
- Clinic
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Joint Replacement Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
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- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Joint replacement systems are a type of medical device that helps to replace damaged or worn joints. Joint replacement systems can help to restore movement and function to the affected joint, while also reducing the risk of future injury.
Some of the major players in the joint replacement systems market are Stryker Corporation, Zimmer Biomet, Exactech, Smith & Nephew, Johnson & Johnson, Conformis, Corin Group, Orthofix, Globus Medical, Arthrex.
The joint replacement systems market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Joint Replacement Systems Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Joint Replacement Systems Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Joint Replacement Systems Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Joint Replacement Systems Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Joint Replacement Systems Market Size & Forecast, 2018-2028 4.5.1 Joint Replacement Systems Market Size and Y-o-Y Growth 4.5.2 Joint Replacement Systems Market Absolute $ Opportunity
Chapter 5 Global Joint Replacement Systems Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Joint Replacement Systems Market Size Forecast by Type
5.2.1 Total Joint
5.2.2 Partial Joint
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Joint Replacement Systems Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Joint Replacement Systems Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Clinic
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Joint Replacement Systems Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Joint Replacement Systems Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Joint Replacement Systems Analysis and Forecast
9.1 Introduction
9.2 North America Joint Replacement Systems Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Joint Replacement Systems Market Size Forecast by Type
9.6.1 Total Joint
9.6.2 Partial Joint
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Joint Replacement Systems Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Clinic
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Joint Replacement Systems Analysis and Forecast
10.1 Introduction
10.2 Europe Joint Replacement Systems Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Joint Replacement Systems Market Size Forecast by Type
10.6.1 Total Joint
10.6.2 Partial Joint
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Joint Replacement Systems Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Clinic
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Joint Replacement Systems Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Joint Replacement Systems Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Joint Replacement Systems Market Size Forecast by Type
11.6.1 Total Joint
11.6.2 Partial Joint
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Joint Replacement Systems Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Clinic
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Joint Replacement Systems Analysis and Forecast
12.1 Introduction
12.2 Latin America Joint Replacement Systems Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Joint Replacement Systems Market Size Forecast by Type
12.6.1 Total Joint
12.6.2 Partial Joint
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Joint Replacement Systems Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Clinic
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Joint Replacement Systems Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Joint Replacement Systems Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Joint Replacement Systems Market Size Forecast by Type
13.6.1 Total Joint
13.6.2 Partial Joint
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Joint Replacement Systems Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Clinic
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Joint Replacement Systems Market: Competitive Dashboard
14.2 Global Joint Replacement Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Stryker Corporation
14.3.2 Zimmer Biomet
14.3.3 Exactech
14.3.4 Smith & Nephew
14.3.5 Johnson & Johnson
14.3.6 Conformis
14.3.7 Corin Group
14.3.8 Orthofix
14.3.9 Globus Medical
14.3.10 Arthrex