The global joint replacement devices market is expected to reach 31.09 billion by 2030 from USD 23.42 billion in 2024, at a CAGR of 4.8% from 2024 to 2030. Technological advancements such as use of 3D printing with the manufacturing process, introduction of smart implants, and increased access to latest and innovative implants supports the growth of joint replacement devices market. Further, rising number of sport injuries and increased incidence of accidents that may result in fractures damage to the joints has resulted in rising demand for the joint replacement devices.
Scope of the Report
Years Considered for the Study
2022-2030
Base Year
2023
Forecast Period
2024-2030
Units Considered
Value (USD)
Segments
Product, surgery type, type, technique, end user, and region
Regions covered
North America, Europe, Asia Pacific, Latin America, Middle East and Africa
"The knee replacement devices segment of product segment held the largest share of the market in 2023"
The joint replacement devices market is segmented based on product into knee replacement devices, hip replacement devices, shoulder replacement devices, elbow replacement devices, ankle replacement devices, wrist replacement devices, other replacement devices, and bone graft substitutes. The knee replacement devices accounted for a the highest share in 2023. Launch of smart knee replacement devices, rise in number of obese population, and increasing awareness initiatives is anticipated to fuel the growth of the segment. Developments knee replacement procedures with an assistance of robotic platform improves patient outcome significtly and is one of the important factors propelling the segment. For instance, the Mako Total Knee Replacement from Stryker Corporation (US) may result in less discomfort and a reduced recovery period as compared to traditional surgery.
"The total replacement segment of surgery type segment held the largest share of the market in 2023"
The joint replacement devices market can be segmented based on surgery type into total replacement, partial replacement, and revision replacement. Growing number for joint replacement surgeries such as knee and hip replacement surgeries and the unique properties of newly launched implants such as longevity and resistance to corrosion drives the segment growth. Increasing funding opportunities and advancements in robotic surgery drives the segment growth. Furthermore, the new and innovative implants assist with reduction in pain, fewer follow ups, reduced revisions, etc. that ultimately supports the growth of the market.
"The ambulatory care centers and trauma units segment for the end user segment is projected to register a significant CAGR during the forecast period."
The joint replacement devices market is segmented by end-users into hospitals & surgical centers, ambulatory care centers & trauma units, and orthopedic clinics. The ambulatory care centers and trauma units are expected to witness a significant growth during the forecast period. According to Definitive Healthcare there has been a 304% rise in knee replacement surgical procedures performed in ambulatory surgery centers during the period of 2018-2022. Increased accessibility and cost effectiveness at ambulatory care centers anticipated to propel the segment growth. Furthermore, rising preference for minimally invasive surgical techniques is expected to support the growth of this segment.
"The market in the Asia Pacific region is expected to witness the highest growth during the forecast period."
The north america region accounted for major share in 2023. Asia pacific region to grow at the highest CAGR in joint replacement devices market. Increasing number of investments, improved healthcare infrastructure and increasing investments in the emerging countries, majorly supports the demand for joint replacement devices. Furthermore, market leaders taking remarkable efforts to strengthen their reach in the Asia Pacific market to meet the growing demand for joint replacement devices. According to International Osteoporosis Foundation, more than 50% of osteoporotic hip fractures are expected to occur by 2050.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type: Tier 1-30%, Tier 2-42%, and Tier 3- 28%
By Designation: Director-level-10%, C-level-14%, and Others-76%
By Region: North America-40%, Europe-30%, Asia Pacific-22%, Latin America-6%, and Middle East & Africa - 2%
The prominent players in the joint replacement devices market are as Zimmer Biomet Holdings, Inc. (US), Stryker Corporation (US), Johnson & Johnson MedTech (US), Smith+Nephew (UK), B. Braun (Germany), Arthrex, Inc.(US), Enovis (US), Globus Medical, Inc. (US), Acumed LLC (US), Orthofix Medical Inc.(US) , MicroPort Scientiifc Corporation (China), CONMED Corporation (US), Medacta International (Switzerland), Paragon 28, Inc. (US) and, Meril Life Sciences Pvt. Ltd. (India).
The study includes as in-depth competitive analysis of these key players in the authentication and brand protection market, with their company profiles recent developments, and key market strategies.
Research Coverage
This report studies the joint replacement devices market based on product, surgery type, type, technique, end user, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will help market leaders and new entrants with information on the closest approximations of the revenue numbers for the overall joint replacement devices market and the subsegments. It will also help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
This report provides insights on the following pointers:
Analysis of key drivers (increasing demand for minimally invasive orthopaedic surgical procedures and rising number of sports injuries, increasing prevalence of orthopaedic diseases and disorders, and increasing research funding and initiatives adopted by orthopaedic manufacturers to promoted brand awareness, increasing adoption of sensor-based implants), restraints (risk and complications associated with orthopaedic surgical procedures, high costs associated with orthopaedic treatments, reduced reimbursements for orthopedic surgical procedures), opportunities (rising number of hospitals and shift towards outpatient care, advancement in robotic assisted orthopaedic surgeries and 3D printing), and challenges (dearth of skilled orthopaedic surgeons) influencing the growth of the joint replacement devices market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the joint replacement devices market
Market Development: Comprehensive information about lucrative markets-the report analyses the joint replacement devices market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the joint replacement devices market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, such as Zimmer Biomet Holdings, Inc. (US), Stryker Corporation (US), Johnson & Johnson MedTech (US), Smith+Nephew (UK), B. Braun (Germany).
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKET SEGMENTATION AND GEOGRAPHICAL SPREAD
1.3.2 INCLUSIONS & EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key sources for secondary research
2.1.1.2 Key objectives of secondary research
2.1.2 PRIMARY DATA
2.1.2.1 Key primary sources
2.1.2.2 Key objectives of primary research
2.1.2.3 Key primary insights
2.1.2.4 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Company revenue estimation approach
2.2.1.2 Customer-based market estimation
2.2.1.3 Growth forecast approach
2.2.1.4 CAGR projections
2.3 DATA TRIANGULATION
2.4 MARKET SHARE ANALYSIS
2.5 STUDY ASSUMPTIONS
2.5.1 PARAMETRIC ASSUMPTIONS
2.5.2 GROWTH RATE ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
2.7 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 JOINT REPLACEMENT DEVICES MARKET OVERVIEW
4.2 NORTH AMERICA: JOINT REPLACEMENT DEVICES MARKET, BY PRODUCT, 2024 VS. 2030 (USD MILLION)
4.3 EUROPE: JOINT REPLACEMENT DEVICES MARKET, BY SURGERY TYPE, 2024 VS. 2030 (USD MILLION)
4.4 ASIA PACIFIC: JOINT REPLACEMENT DEVICES MARKET, BY END USER, 2024 VS. 2030 (USD MILLION)
4.5 GEOGRAPHIC SNAPSHOT OF JOINT REPLACEMENT DEVICES MARKET
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Rising prevalence of orthopedic diseases and disorders
5.2.1.2 Increasing demand for minimally invasive surgery
5.2.1.3 Rising adoption of sensor-based implants
5.2.1.4 Rising number of sports injuries
5.2.1.5 Increasing research funding
5.2.2 RESTRAINTS
5.2.2.1 Risks and complications associated with orthopedic surgical procedures
5.2.2.2 Reduced reimbursement rates for orthopedic surgeries
5.2.2.3 High cost of orthopedic surgery
5.2.3 OPPORTUNITIES
5.2.3.1 Advancements in robotic surgery and 3D printing
5.2.3.2 Growth opportunities in emerging markets
5.2.4 CHALLENGES
5.2.4.1 Dearth of skilled orthopedic surgeons
5.3 VALUE CHAIN ANALYSIS
5.3.1 RESEARCH & PRODUCT DEVELOPMENT
5.3.2 RAW MATERIAL PROCUREMENT AND MANUFACTURING
5.3.3 DISTRIBUTION, MARKETING & SALES, AND POST-SALES SERVICES
5.4 SUPPLY CHAIN ANALYSIS
5.4.1 MANUFACTURERS
5.4.1.1 Prominent companies
5.4.1.2 Small and medium-sized enterprises
5.4.2 END USERS
5.5 ECOSYSTEM ANALYSIS
5.6 REGULATORY ANALYSIS
5.6.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.6.2 REGULATORY FRAMEWORK
5.6.2.1 North America
5.6.2.1.1 US
5.6.2.1.2 Canada
5.6.2.2 Europe
5.6.2.3 Asia Pacific
5.6.2.3.1 Japan
5.6.2.3.2 China
5.6.2.3.3 India
5.6.2.4 Latin America
5.6.2.4.1 Brazil
5.6.3 REGULATORY APPROVALS
5.7 REIMBURSEMENT SCENARIO
5.8 INVESTMENT AND FUNDING SCENARIO
5.9 PRICING ANALYSIS
5.9.1 AVERAGE SELLING PRICE, BY KEY PLAYER
5.9.2 AVERAGE SELLING PRICE TREND, BY REGION
5.10 TRADE ANALYSIS
5.10.1 IMPORT DATA
5.10.2 EXPORT DATA
5.11 PATENT ANALYSIS
5.12 PORTER'S FIVE FORCES ANALYSIS
5.12.1 THREAT OF NEW ENTRANTS
5.12.2 THREAT OF SUBSTITUTES
5.12.3 BARGAINING POWER OF SUPPLIERS
5.12.4 BARGAINING POWER OF BUYERS
5.12.5 INTENSITY OF COMPETITIVE RIVALRY
5.13 KEY STAKEHOLDERS & BUYING CRITERIA
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.13.2 BUYING CRITERIA
5.14 KEY CONFERENCES AND EVENTS, 2024-2025
5.15 CASE STUDY ANALYSIS
5.15.1 CASE STUDY 1: DIGITAL PLATFORM DESIGNED TO IMPROVE PATIENT CARE PATHWAYS
5.15.2 CASE STUDY 2: PARTIAL KNEE ARTHROPLASTY PERFORMED WITH ROSA PARTIAL KNEE SYSTEM
5.15.3 CASE STUDY 3: ACCURATE DATA GENERATION WITH SHAPEGRABBER 3D