Joint Replacement Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Procedure (Hip Replacement, Knee Replacement, Elbow Replacement, Others); Products (Implants, Bone Grafts, Others); Technique (Traditional Surgery, Minimally Invasive Surgery (MIS), Computer Assisted Surgery (CAS)); End-User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers) and Geography
Report Code: TIPRE00025004 | No. of Pages: 150 | Category: Medical Device | Status: Upcoming
MARKET OVERVIEW
Joint replacement is a surgical procedure performed to replace joints that involve the complete or partial removal of the damaged joint and tissues, to be replaced with metal, plastic or ceramic implants. Joint replacement devices are implantable medical devices intended to be used as a replacement for joints such as shoulder joint, hip joint, and others. The devices include implants, grafts, and all other instruments related to joint replacement procedures. Implants are utilized to replace and restore the patient's joint functionality and reduce pain.
MARKET SCOPE
The "Global Joint Replacement Devices Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the joint replacement devices market with detailed market segmentation by procedure, products, technique, end-user, and geography. The report provides key statistics on the market status of the leading joint replacement devices market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
MARKET DYNAMICS
Drivers:
Restraints:
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The joint replacement devices market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the joint replacement devices market in these regions.
IMPACT OF COVID-19 ON JOINT REPLACEMENT DEVICES MARKET
COVID-19 initially began in Wuhan (China) in December 2019, and till now, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The pandemic has affected the economies and industries of various countries and, in turn, influenced the global joint replacement devices market. Lockdowns, business shutdowns, restricted supply chain, and travel bans caused a slump in business and consumer spending. Moreover, there were cancellations and delays in elective surgical procedures to prevent virus transmission such as joint replacement surgeries, and had a negative impact on the market. The pandemic led to the cancellation of around 80% of joint replacement surgeries. The restrictions hampered the market growth as they caused factories to shut down, which disturbed supply chain channels in the market. Therefore, the growth of the market was impacted during the pandemic and with the removal of restrictions, the market demand may witness growth in the forecast period.
The report covers key developments in the joint replacement devices market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from joint replacement devices market are anticipated to have lucrative growth opportunities in the future with the rising demand for joint replacement devices in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the joint replacement devices market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
Joint replacement is a surgical procedure performed to replace joints that involve the complete or partial removal of the damaged joint and tissues, to be replaced with metal, plastic or ceramic implants. Joint replacement devices are implantable medical devices intended to be used as a replacement for joints such as shoulder joint, hip joint, and others. The devices include implants, grafts, and all other instruments related to joint replacement procedures. Implants are utilized to replace and restore the patient's joint functionality and reduce pain.
MARKET SCOPE
The "Global Joint Replacement Devices Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the joint replacement devices market with detailed market segmentation by procedure, products, technique, end-user, and geography. The report provides key statistics on the market status of the leading joint replacement devices market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on procedure, the global joint replacement devices market is segmented into hip replacement, knee replacement, elbow replacement and others.
- Based on product, the market is segmented into implants, bone grafts and others.
- Based on technique, the market is segmented into traditional surgery, minimally invasive surgery (MIS) and computer assisted surgery (CAS).
- On the basis of end-user, the market is bifurcated into hospitals, orthopedic clinics and ambulatory surgical centers.
MARKET DYNAMICS
Drivers:
- Increase in the prevalence of osteoarthritis.
- Rise in the cases of orthopedic injury.
- Growing geriatric population in the world.
- The growing success of hip and knee implant procedures.
- Technological advancements in joint replacement surgeries such as robotic surgeries and 3D implants.
Restraints:
- High cost of joint replacement surgeries.
- Availability of alternative methods.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The joint replacement devices market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the joint replacement devices market in these regions.
IMPACT OF COVID-19 ON JOINT REPLACEMENT DEVICES MARKET
COVID-19 initially began in Wuhan (China) in December 2019, and till now, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The pandemic has affected the economies and industries of various countries and, in turn, influenced the global joint replacement devices market. Lockdowns, business shutdowns, restricted supply chain, and travel bans caused a slump in business and consumer spending. Moreover, there were cancellations and delays in elective surgical procedures to prevent virus transmission such as joint replacement surgeries, and had a negative impact on the market. The pandemic led to the cancellation of around 80% of joint replacement surgeries. The restrictions hampered the market growth as they caused factories to shut down, which disturbed supply chain channels in the market. Therefore, the growth of the market was impacted during the pandemic and with the removal of restrictions, the market demand may witness growth in the forecast period.
The report covers key developments in the joint replacement devices market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from joint replacement devices market are anticipated to have lucrative growth opportunities in the future with the rising demand for joint replacement devices in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the joint replacement devices market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Arthrex, Inc.
- Stryker Corporation
- Zimmer Biomet Holdings
- DJO Global
- Wright Medical Group
- Medtronic
- Aesculap Implant Systems
- Exactech, Inc.
- B. Braun Melsungen AG
- Smith & Nephew
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
The List of Companies
1. Arthrex, Inc.
2. Stryker Corporation
3. Zimmer Biomet Holdings
4. DJO Global
5. Wright Medical Group
6. Medtronic
7. Aesculap Implant Systems
8. Exactech, Inc.
9. B. Braun Melsungen AG
10. Smith and Nephew
1. Arthrex, Inc.
2. Stryker Corporation
3. Zimmer Biomet Holdings
4. DJO Global
5. Wright Medical Group
6. Medtronic
7. Aesculap Implant Systems
8. Exactech, Inc.
9. B. Braun Melsungen AG
10. Smith and Nephew
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