Report : Europe Artificial Joints Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Cemented Joints, Non-Cemented Joints); Material (Ceramics, Alloys, Oxinium, Others); Application (Artificial Joints of Knee, Artificial Joints of Hip, Artificial Joints of Shoulder, Others); End User (Hospitals, Ambulatory Care Centers, Other End Users) and Country
Cemented joints segment by type is estimated to lead the market growth during the forecast period
According to The Insight Partners market research study of “Europe Artificial Joints Market Forecast to 2027 - COVID-19 Impact and Analysis by Type, Material, Application, and End User,” The Europe Artificial Joints Market was valued at US$ 4,847.77 million in 2019 and is projected to reach US$ 7,399.81 million by 2027; it is expected to grow at a CAGR of 5.5% during the forecast period. The report highlights trends prevailing in the Europe Artificial Joints market and the factors driving market along with those that act as hindrances.
The Artificial Joints market, by product, is segmented into cemented joints and non-cemented joints. The cemented joints segment held the largest share of the market. An artificial joint is a device used in orthopedic surgery procedures in which an arthritic or dysfunctional joint surface is surgically replaced. Extensively increasing geriatric population coupled with sedentary lifestyle are the most prevalent conditions for the growth of bone and joint diseases worldwide. In 2020, according to a study published by NHS, more the 4,00,000 people in the UK are suffering from rheumatoid arthritis. Such massive prevalence of bone and joint defects are estimated to have positive impact on the demand of bone replacement procedures, which will eventually drive the market growth during the forecast period.
Europe Artificial Joints market is expected to grow due to factors such as to increasing prevalence of bone and joint conditions, increasing prevalence of obesity, and rising government support by introducing guidelines for regenerative medicines. However, high cost of joint repair therapies is expected to hinder market growth.
Smith & Nephew, Zimmer Biomet and Stryker Corporation are among the leading companies operating in the Europe Artificial Joints market.
The report segments in Europe Artificial Joints market as follows:
By End User