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Global Artificial Joints Market is valued at approximately USD 20.2 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.6% over the forecast period 2023-2030. Artificial joints also referred to as prosthetic joints or joint replacements are medical devices used to replace damaged or diseased joints in the human body. These medical devices are specially designed to restore joint function, relieve pain, and improve mobility for individuals with conditions such as arthritis, joint degeneration, or joint trauma. Artificial joints are often utilized to replace the body's injured or degenerated knee, hip, or shoulder joints. The prosthetic joint is created to resemble the structure and operation of the native joint, enabling fluid mobility, weight-bearing, and joint stability. The rising awareness among both patients and healthcare professionals regarding the benefits and success rates of artificial joint replacement, increasing healthcare expenditure, and growing participation in sports and active lifestyles has led to an increase in sports-related injuries, which are contributing to the global market growth.
In addition, the surge in the aging population is the most prominent factor that is propelling the market demand across the globe. With the aging, the chance of developing joint-related conditions such as osteoarthritis and rheumatoid arthritis also stipulates. Artificial joints are becoming increasingly in demand because it helps individual to regain their mobility and improve their quality dof life. According to the World Health Organization Facts of 2021, the proportion of the global population aged 60 and up is expected to nearly double from 12% to 22% between 2015 and 2050. Moreover, as per the Economic and Social Commission for Asia and the Pacific report, the aging population of India is expected to reach 298 million by 2051, accounting for 17% of the national population. Moreover, the rising investments in research and development by medical device companies and academic institutions, as well as the growing technological advancements presents various lucrative opportunities over the forecast years. However, the side effects associated with surgical intervention and the lack of skilled professionals are hindering the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Artificial Joints Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing development of novel artificial joint materials and designs, growing cases of patients with osteoarthritis, and the presence of major players with a solid distribution network. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The increase in the incidences of bone disease and the number of chronic diseases such as diabetes, as well as the rising adoption of computer-aided implant designs, robot-assisted surgeries, and attractive reimbursement situations are fostering the market demand across the region.
Major market players included in this report are:
- Medacta International SA
- Johnson and Johnson (DePuy Synthes)
- Conformis Inc.
- MicroPort Orthopedics Inc
- Medtronic plc
- Stryker Corporation
- Exactech Inc.
- Zimmer Biomet Holding Inc
- B. Braun Melsungen AG
- Smith & Nephew plc
Recent Developments in the Market:
- In February 2020, RISP Vision, a well-known industry pioneer in computer vision and image processing research and development with its company unveiled a computer vision technology to visualize bones more precisely before knee and hip replacement procedures to reduce human error.
- In January 2020, Lidakang Technology, a Chinese supplier of artificial joints, received assistance from Shenzhen Capital Group, a state-backed venture capital company, as it raised around USD16 million in a Series A financing round.
Global Artificial Joints Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, Material, Application, End-user, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
- Cemented artificial joints
- Non-cemented artificial joints
By Material:
By Application:
- Artificial knee joints
- Artificial hip joints
- Others
By End-user:
By Region:
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Artificial Joints Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Artificial Joints Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Artificial Joints Market, by Material, 2020-2030 (USD Billion)
- 1.2.4. Artificial Joints Market, by Application, 2020-2030 (USD Billion)
- 1.2.5. Artificial Joints Market, by End-user, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Artificial Joints Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Artificial Joints Market Dynamics
- 3.1. Artificial Joints Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increase in sports-related injuries
- 3.1.1.2. Surge in the aging population
- 3.1.2. Market Challenges
- 3.1.2.1. Side effects associated with surgical intervention
- 3.1.2.2. Lack of skilled professionals
- 3.1.3. Market Opportunities
- 3.1.3.1. Rising investments in research and development by medical device companies and academic institutions
- 3.1.3.2. Growing technological advancements
Chapter 4. Global Artificial Joints Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Artificial Joints Market, by Type
- 5.1. Market Snapshot
- 5.2. Global Artificial Joints Market by Type, Performance - Potential Analysis
- 5.3. Global Artificial Joints Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4. Artificial Joints Market, Sub Segment Analysis
- 5.4.1. Cemented artificial joints
- 5.4.2. Non-cemented artificial joints
Chapter 6. Global Artificial Joints Market, by Material
- 6.1. Market Snapshot
- 6.2. Global Artificial Joints Market by Material, Performance - Potential Analysis
- 6.3. Global Artificial Joints Market Estimates & Forecasts by Material 2020-2030 (USD Billion)
- 6.4. Artificial Joints Market, Sub Segment Analysis
- 6.4.1. Ceramics
- 6.4.2. Alloy
- 6.4.3. Others
Chapter 7. Global Artificial Joints Market, by Application
- 7.1. Market Snapshot
- 7.2. Global Artificial Joints Market by Application, Performance - Potential Analysis
- 7.3. Global Artificial Joints Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 7.4. Artificial Joints Market, Sub Segment Analysis
- 7.4.1. Artificial knee joints
- 7.4.2. Artificial hip joints
- 7.4.3. Others
Chapter 8. Artificial Joints Market, by End-user
- 8.1. Market Snapshot
- 8.2. Global Artificial Joints Market by End-user, Performance - Potential Analysis
- 8.3. Global Artificial Joints Market Estimates & Forecasts by End-user 2020-2030 (USD Billion)
- 8.4. Artificial Joints Market, Sub Segment Analysis
- 8.4.1. Hospitals
- 8.4.2. Other
Chapter 9. Global Artificial Joints Market, Regional Analysis
- 9.1. Top Leading Countries
- 9.2. Top Emerging Countries
- 9.3. Artificial Joints Market, Regional Market Snapshot
- 9.4. North America Artificial Joints Market
- 9.4.1. U.S. Artificial Joints Market
- 9.4.1.1. Type breakdown estimates & forecasts, 2020-2030
- 9.4.1.2. Material breakdown estimates & forecasts, 2020-2030
- 9.4.1.3. Application breakdown estimates & forecasts, 2020-2030
- 9.4.1.4. End-user breakdown estimates & forecasts, 2020-2030
- 9.4.2. Canada Artificial Joints Market
- 9.5. Europe Artificial Joints Market Snapshot
- 9.5.1. U.K. Artificial Joints Market
- 9.5.2. Germany Artificial Joints Market
- 9.5.3. France Artificial Joints Market
- 9.5.4. Spain Artificial Joints Market
- 9.5.5. Italy Artificial Joints Market
- 9.5.6. Rest of Europe Artificial Joints Market
- 9.6. Asia-Pacific Artificial Joints Market Snapshot
- 9.6.1. China Artificial Joints Market
- 9.6.2. India Artificial Joints Market
- 9.6.3. Japan Artificial Joints Market
- 9.6.4. Australia Artificial Joints Market
- 9.6.5. South Korea Artificial Joints Market
- 9.6.6. Rest of Asia Pacific Artificial Joints Market
- 9.7. Latin America Artificial Joints Market Snapshot
- 9.7.1. Brazil Artificial Joints Market
- 9.7.2. Mexico Artificial Joints Market
- 9.8. Middle East & Africa Artificial Joints Market
- 9.8.1. Saudi Arabia Artificial Joints Market
- 9.8.2. South Africa Artificial Joints Market
- 9.8.3. Rest of Middle East & Africa Artificial Joints Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.1.1. Company 1
- 10.1.2. Company 2
- 10.1.3. Company 3
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. Medacta International SA
- 10.3.1.1. Key Information
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Recent Developments
- 10.3.2. Johnson and Johnson (DePuy Synthes)
- 10.3.3. Conformis Inc.
- 10.3.4. MicroPort Orthopedics Inc
- 10.3.5. Medtronic plc
- 10.3.6. Stryker Corporation
- 10.3.7. Exactech Inc.
- 10.3.8. Zimmer Biomet Holding Inc
- 10.3.9. B. Braun Melsungen AG
- 10.3.10. Smith & Nephew plc
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption
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