Joint Reconstruction Devices Market Size, Share & Trends Analysis Report By Technique (Joint Replacement, Osteotomy, Arthroscopy, Resurfacing, Arthrodesis, Implants, Bone Graft), By Type, By Region, And Segment Forecasts, 2018 - 2025

Report Overview

The global joint reconstruction devices market size was estimated at USD 18.7 billion in 2016. Global demand for minimally invasive diagnostic and surgical techniques, growing prevalence of orthopedic conditions, and increasing patient base with growing population are the factors expected to drive the market during the forecast period.

India joint reconstruction devices market, by technique (USD Million)

Joint reconstruction is a significant part of the global orthopedic devices industry. Major conditions affecting joints include all types of arthritis, osteoporosis, gout, bone degenerative diseases, and injuries. A large number of these diseases are no longer limited to the geriatric population. Factors such as sedentary lifestyle and unhealthy dietary habits have made a large proportion of population susceptible to these diseases. Thus, the customer base for joint reconstruction devices is expected to grow with increasing population and growing awareness of the commercially available advanced devices.

Joint reconstruction includes a wide range of treatments including physiotherapy, pain management, and surgeries. Physiotherapy, being the first-line of therapy, is used extensively for primary care of the joint conditions. However, surgical procedures are mostly preferred as a permanent cure. Huge demand for minimally invasive surgeries has been observed over the recent years. The factors driving the demand for minimally surgeries include shorter turnaround time, lesser duration of hospital stay, and patient & surgeon convenience.

Technological advancements have played a principal role in industry growth during the recent years. Besides advancements in materials, designs, & imaging techniques; robotic-assisted surgeries are considered as a crucial development as they help in performing various complex surgeries. This technique has helped overcome the restraining factor related to the shortage of skilled surgeons.

A huge amount of R&D is focused on developing therapeutic options for large joints that include ball-and-socket hip and hinge knee joint. Most of the revenue of the orthopedic industry is generated by diagnostics & therapeutics of large joints. The successful reconstruction is important to restore mobility amongst these patients.

Technique Insights

The joint replacement segment includes partial or total replacement by artificial or bone grafts and dominated the market in 2016. It is expected to maintain its dominance throughout the forecast period. The dominance of the segment can be attributed to factors such as high product cost and a large number of procedural volumes.

Artificial implants captured the largest share owing to its availability in a wide range of sizes, which offers choice and easy installation. On the other hand, bone grafting is rare as patients need to wait for a longer duration for natural growth of the graft.

High emphasis on minimally invasive surgeries and utility of arthroscopic devices in diagnosis as well as surgeries of joint reconstruction has led to the rising adoption of the same. The evolution of arthroscopes has enabled smaller surgeries to be performed on an outpatient basis. Most of these procedures are performed under local anesthetics, thus, reducing the cost of the total procedure.

The joint reconstruction devices market for other major processes such as osteotomy and resurfacing is dependent on the procedural volume. Thus, the growth of these segments is directly proportional to growing prevalence of the joint-related conditions. Other major factors include introduction of advanced tools such as preoperative planning tool and image magnifiers.

Joints Insights

The majority of the orthopedic devices are designed exclusively for different types of joints. In addition, the therapeutic approach for each joint depends on variables such as age, weight, and size of the patient. Most of the time the implants are customized as per the requirements of the patient. The estimation for each segment is derived from various factors including, but not limited to the selling price of the implants, history of prevalence of the conditions, and a total number of procedures performed in each region.

High prevalence of diseases and availability of a large number of products & procedures are some of the factors that can be attributed to the large share of knee segment in 2016. The segment is expected to maintain the largest market share throughout the forecast period owing to factors such as a frequent introduction of advanced devices. The success rates of knee procedures vary per patient; hence, repeat procedures may be required for correction. These repeat procedures generate additional revenue.

Reconstruction therapies for ankle are observing high demand from the sports sector. These surgeries are being designed to provide quicker and long-term relief to patients. Most of the ankle surgeries are performed through arthroscopy.

Global joint replacement market, by type 2015 (%)

Regional Insights

North America captured the largest share in 2016. The dominance of the segment is attributed to factors such as the presence of a large number of industry players, the high prevalence of joint-related conditions, favorable healthcare policies, and high disposable income of the patients. These factors help generate demand for advanced therapeutic options. These factors contribute to the segment’s dominance throughout the forecast period.

High level of population, developing economies, and increasing demand for advanced therapeutic options are factors anticipated to drive growth in the Asia Pacific region at the highest rate during the forecast period. In addition, favorable government policies such as China’s healthcare reform and approval of 100 % foreign direct investment in the medical devices sector by the Indian government have contributed to the growth of the market. These two countries along with Japan are expected to spearhead the growth of the regional market.

Faster approval processes and free trade agreements with North America are anticipated to favor growth in the Latin American region. Countries such as Brazil and Mexico present potential market opportunities due to the presence of a large number of distribution partners.

Key Companies & Market Share Insights

The global market is highly consolidated as major players hold the reins of the global industry dynamics. However, the industry, being dependent on technology, is gradually becoming fragmented as many new entrants are launching advanced products. In addition, a significant rise in the number of domestic companies in China is indicative of the industry moving toward fragmented nature.

On the other hand, major players are trying to survive the competition and retain their share by acquiring smaller companies with a potential portfolio. Most of these acquisitions are strategies undertaken for geographical expansions. Some of the major players include Medtronic; Stryker; Aesculap Implant Systems, LLC; Zimmer-Biomet; DePuy Synthes; Smith and Nephew; CONMED Corporation; DJO Global, Inc.; and Nuvasive, Inc.

Joint Reconstruction Devices Market Report Scope

Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global joint reconstruction devices market on the basis of technique, type, and region: 

• Technique Outlook (Revenue, USD Million, 2014 - 2025)

  • Joint replacement

    • Implants

    • Bone Graft

      • Allograft

      • Synthetic

  • Osteotomy

  • Arthroscopy

  • Resurfacing

  • Arthrodesis

  • Others

• Type Outlook (Revenue, USD Million, 2014 - 2025)

  • Knee

  • Hip

  • Shoulder

  • Ankle

  • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa