Report : North America 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 Geography
According to The Insight Partners market research study of “North America Artificial JointsMarket Forecast to 2027 - COVID-19 Impact and Analysis byType, Material, Application, and End User,” The North America Artificial Joints market was valued at US$ 7,234.2 million in 2019 and is projected to reach US$ 11,440.2 million by 2027; it is expected to grow at a CAGR of 6.0% during the forecast period.The report highlights trends prevailing in theNorth America 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. According to a data published by CDC (Centers for Disease Control and Prevention) in 2020, an estimated 32.5 million Americans are suffering from osteoarthritis. 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.
North America Artificial Joints marketis 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 North America Artificial Joints market.
The report segments in North America Artificial Joints market as follows:
By End User