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Replacement arthroplasty, also known as joint replacement surgery, is an orthopedic surgical procedure that involves replacing an arthritic or dysfunctional joint surface with an orthopedic prosthesis. When the joint pain or dysfunction is not alleviated by the minimally invasive therapies, joint replacement surgeries are considered. An artificial joint is usually made up of materials including metal, polymers, and bioceramics. The material used for joint prosthesis, must have good corrosion resistance, high strength, excellent wear resistance and outstanding biocompatibility.
The aim of the report is to estimate the market size for artificial joints and the future growth potential of the market for artificial joints across various segments, such as material and application.
The market has been studied for historic years from 2018 and 2019, with the base year of estimation as 2019 and forecast from 2020 to 2028. Factors such as growing prevalence of degenerative disorders worldwide, along with rapidly increasing elderly patient pool are the key drivers of the artificial joints market. However, high cost of procedure will hinder the growth of the market in the next few years.
By material, the global artificial joints market is segmented into ceramics, alloys, oxinium and other. Wide adoption of bioinert ceramics and alloys with excellent biocompatibility and abrasion properties in artificial joints will drive the growth of the segment in the coming years. Application-wise, the global artificial joints market is segregated into artificial joints of the knee, hip and shoulders and others.
North America dominated the global artificial joints market in 2019. The dominant share is attributable to high prevalence of degenerative joint diseases in the U.S., along with presence of large geriatric population in the country. Moreover, presence of well-established industry players is expected to fuel growth of the market in the region.
The demand for artificial joints in Asia Pacific is expected to remain opportunistic, as the region's massive geriatric patient pool and dense population will provide an ideal consumer base. According to the United Nations, China and India together were home to over one third of the world’s population aged 60 years or over in 2017. Presence of high unmet medical needs along with surge in incidence of degenerative disorders in geriatric patient pool in the developing countries, divert the focus of market players to serve the untapped population in these emerging economies. This is likely to augment the demand for artificial joints in the region.
The global artificial joints industry is highly competitive in nature as large number of well-established manufacturers are operating in this industry. Industry players are focused on developing novel products which will boost the overall growth of the market in the coming years.
Key Segments of the Global Artificial Joints Market
Material Overview, 2018-2028 (USD Million)
Application Overview, 2018-2028 (USD Million)
Regional Overview, 2018-2028 (USD Million)
Important Companies in Global Artificial Joints Market
Reasons for the study
What does the report include?
Who should buy this report?
Replacement arthroplasty, also known as joint replacement surgery, is an orthopedic surgical procedure that involves replacing an arthritic or dysfunctional joint surface with an orthopedic prosthesis. When the joint pain or dysfunction is not alleviated by the minimally invasive therapies, joint replacement surgeries are considered. An artificial joint is usually made up of materials including metal, polymers, and bioceramics. The material used for joint prosthesis, must have good corrosion resistance, high strength, excellent wear resistance and outstanding biocompatibility.
The aim of the report is to estimate the market size for artificial joints and the future growth potential of the market for artificial joints across various segments, such as material and application.
The market has been studied for historic years from 2018 and 2019, with the base year of estimation as 2019 and forecast from 2020 to 2028. Factors such as growing prevalence of degenerative disorders worldwide, along with rapidly increasing elderly patient pool are the key drivers of the artificial joints market. However, high cost of procedure will hinder the growth of the market in the next few years.
By material, the global artificial joints market is segmented into ceramics, alloys, oxinium and other. Wide adoption of bioinert ceramics and alloys with excellent biocompatibility and abrasion properties in artificial joints will drive the growth of the segment in the coming years. Application-wise, the global artificial joints market is segregated into artificial joints of the knee, hip and shoulders and others.
North America dominated the global artificial joints market in 2019. The dominant share is attributable to high prevalence of degenerative joint diseases in the U.S., along with presence of large geriatric population in the country. Moreover, presence of well-established industry players is expected to fuel growth of the market in the region.
The demand for artificial joints in Asia Pacific is expected to remain opportunistic, as the region's massive geriatric patient pool and dense population will provide an ideal consumer base. According to the United Nations, China and India together were home to over one third of the world’s population aged 60 years or over in 2017. Presence of high unmet medical needs along with surge in incidence of degenerative disorders in geriatric patient pool in the developing countries, divert the focus of market players to serve the untapped population in these emerging economies. This is likely to augment the demand for artificial joints in the region.
The global artificial joints industry is highly competitive in nature as large number of well-established manufacturers are operating in this industry. Industry players are focused on developing novel products which will boost the overall growth of the market in the coming years.
Key Segments of the Global Artificial Joints Market
Material Overview, 2018-2028 (USD Million)
Application Overview, 2018-2028 (USD Million)
Regional Overview, 2018-2028 (USD Million)
Important Companies in Global Artificial Joints Market
Reasons for the study
What does the report include?
Who should buy this report?
1. Introduction
1.1. Introduction
1.2. Market Definition and Scope
1.3. Units, Currency, Conversions and Years Considered
1.4. Key Stakeholders
1.5. Key Questions Answered
2. Research Methodology
2.1. Introduction
2.2. Data Capture Sources
2.3. Market Size Estimation
2.4. Market Forecast
2.5. Data Triangulation
2.6. Assumptions and Limitations
3. Market Outlook
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. Porter’s Five Forces Analysis
3.4. COVID-19 Impact Analysis
4. Artificial Joints Market by Material, 2018-2028 (USD Million)
4.1. Ceramics
4.2. Alloys
4.3. Oxinium
4.4. Others
5. Artificial Joints Market by Application, 2018-2028 (USD Million)
5.1. Artificial Joints of Knee
5.2. Artificial Joints of Hip
5.3. Artificial Joints of Shoulders
5.4. Others
6. Artificial Joints Market by Region, 2018-2028 (USD Million)
6.1. North America
6.1.1. US
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. France
6.2.4. Spain
6.2.5. Italy
6.2.6. Rest of Europe
6.3. Asia Pacific
6.3.1. China
6.3.2. Japan
6.3.3. India
6.3.4. Rest of APAC
6.4. Latin America
6.4.1. Brazil
6.4.2. Mexico
6.4.3. Rest of Latin America
6.5. Middle East & Africa
6.5.1. GCC
6.5.2. South Africa
6.5.3. Rest of Middle East & Africa
7. Competitive Landscape
7.1. Company Ranking/Market Share Analysis
7.2. Strategic Initiatives
7.2.1. Mergers & Acquisitions
7.2.2. New Product Launch
7.2.3. Investments
7.2.4. Expansion
7.2.5. Others
8. Company Profiles
8.1. Zimmer Biomet Holdings, Inc.
8.1.1. Overview
8.1.2. Products Portfolio
8.1.3. Recent Initiatives
8.1.4. Company Financials
8.2. Stryker Corporation
8.3. Smith & Nephew
8.4. Aesculap AG
8.5. Arthrex, Inc.
8.6. JRI Orthopedics
8.7. Globus Medical
8.8. Exatech, Inc,
8.9. DJO Global
8.10. Other Prominent Players