Joint Replacement Devices Market Increasing at A Phenomenal Pace to Reach more than USD 27.97 Billion by 2032

Major companies in joint replacement devices market are Stryker Corporation, Zimmer Biomet Holdings, Depuy Synthes (Johnson & Johnson), Smith & Nephew, Wright Medical Group, Aesculap Implant Systems, Arthrex, Inc., ConforMIS, DJO Global, Exactech, Inc. and Medtronic amongst others. These players are set to bolster the development of global joint replacement devices market.

According to analysts at Zion Market Research, global Joint Replacement Devices Market, estimating its value at USD 17.43 Billion in 2023, with projections indicating that it will reach USD 27.97 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 5.4% over the forecast period 2024-2032

This review is based on a report by Zion Market Research, titled “Joint Replacement Devices Market by Procedure (Hip Replacement, Knee Replacement, Elbow Replacement, and Others), by Products (Implants, Bone Grafts, and Others) by Technique (Traditional Surgery, Minimally Invasive Surgery, Computer Assisted Surgery): Global Industry Perspective, Comprehensive Analysis and Forecast, 2024-2032

Growing Geriatric Population and Technological Innovations to Spur Growth

“Osteoarthritis, one of the most common type of arthritis, plays a significant role in driving the joint replacement devices market. A rise in geriatric population is also supplementing the market growth due to increased incidences of joint injuries,” says the author of this study. Apart from this, technological breakthroughs in joint replacement surgeries such as robotic surgeries and 3D implants are also expected to boost the joint replacement devices market in the future.

Presence of Well Developed Healthcare System Support North American Dominance

Regionally, North America has been leading the worldwide joint replacement devices market and is anticipated to continue on the dominant position in the years to come, states the joint replacement devices market study. The presence of technologically advanced joint implants, state of the art healthcare system and higher awareness among consumers about the available options in countries such as the US are one of the key factors behind the dominance of the North America joint replacement devices market. The high number of elective hip, knee, and other joint replacement surgeries in North America is another significant factor that is supporting this regional joint replacement devices market.

Browse the full “Joint Replacement Devices Market by Procedure (Hip Replacement, Knee Replacement, Elbow Replacement, and Others), by Products (Implants, Bone Grafts, and Others) by Technique (Traditional Surgery, Minimally Invasive Surgery, Computer Assisted Surgery): Global Industry Perspective, Comprehensive Analysis and Forecast, 2024-2032.” Report at https://www.zionmarketresearch.com/report/joint-replacement-devices-market

The global joint replacement devices market is segmented as follows:

By Procedure

• Hip Replacement
• Knee Replacement
• Elbow Replacement
• Others

By Products

• Implants
• Bone Grafts
• Others

By Technique

• Traditional Surgery
• Minimally Invasive Surgery (MIS)
• Computer Assisted Surgery (CAS)

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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