GVR Report cover Joint Reconstruction Devices Market Size, Share & Trends Report

Joint Reconstruction Devices Market Size, Share & Trends Analysis Report By Technique (Joint Replacement, Osteotomy, Arthroscopy, Resurfacing, Arthrodesis), By Joint Type (Knee, Hip, Shoulder), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-469-7
  • Number of Pages: 90
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Healthcare

Joint Reconstruction Devices Market Trends

The global joint reconstruction devices market size was valued at USD 26.06 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.4% from 2023 to 2030. Global demand for minimally invasive diagnostic and surgical techniques, the growing prevalence of orthopedic conditions, and an increasing patient base with a growing population are expected to drive the market during the forecast period.

U.S. Joint Reconstruction Devices market size and growth rate, 2023 - 2030

Joint reconstruction is a significant part of the global orthopedic devices industry. Major conditions affecting joints include arthritis, osteoporosis, gout, bone degenerative diseases, and injuries. Many of these diseases are no longer limited to the geriatric population. Factors such as sedentary lifestyles and unhealthy dietary habits have made a large proportion of the population susceptible to these diseases. For instance, in November 2022, Health and Safety Executive reported that work-related ill health affected 1.8 million employees (new or long-standing) in 2021/22, out of which musculoskeletal disorders accounted for 27.0%. Thus, the customer base for joint reconstruction devices is expected to grow with the increasing population and growing awareness of the commercially available advanced devices. According to the World Health Organization (WHO), in July 2022, around 1.71 billion people underwent musculoskeletal conditions globally, including neck pain, fractures, osteoarthritis, amputation & low back pain, and are the top contributor to disability worldwide.

Since weak bones are more prone to develop in the elderly population, the market is anticipated to expand as the geriatric population grows. Geriatric patients are more likely to have joint-related illnesses that necessitate joint reconstruction surgery, pushing the market for joint reconstruction devices. For instance, according to the World Health Organization (WHO), in 2019, approximately 528 million individuals worldwide were diagnosed with osteoarthritis, marking a 113% rise since 1990. Among those affected, about 73% were aged over 55, and 60% were female. The knee, hip, and hand were the most common among the affected joints, with the knee being the most prevalent in 365 million cases. Around 344 million people with osteoarthritis had moderate or severe levels of severity that could benefit from rehabilitation. Due to aging populations, rising obesity rates, and increased injuries, the global prevalence of osteoarthritis is expected to continue increasing.

Joint reconstruction includes various treatments, including physiotherapy, pain management, and surgeries. Physiotherapy, the first line of therapy, is used extensively for primary care of joint conditions. However, surgical procedures are mostly preferred as a permanent cure. Huge demand for minimally invasive surgeries has been observed over recent years. For instance, in November 2022, the American Academy of Orthopaedic Surgeons (AAOS) published a report; this ninth-yearly report focuses on the trends in surgeries to replace hips and knees and how patients did after the procedures. The report shows a 14% increase in the total number of these surgeries compared to the year before. It covers more than 2.8 million knee and hip surgeries that have been done since 2012. The information comes from over 1,250 hospitals, places where surgeries are done outside hospitals (ambulatory surgery centers), and private groups of doctors who share their data. The factors driving the demand for minimally invasive surgeries include shorter turnaround time, lesser duration of hospital stay, and patient & surgeon convenience.

Technological advancements have played a principal role in industry growth in recent years. Besides advancements in materials, designs, & imaging techniques, robotic-assisted surgeries are considered crucial as they help perform various complex surgeries. This technique has helped overcome the restraining factor related to the shortage of skilled surgeons. For instance, in July 2023, Walter Reed National Military Medical Center (WRNMMC) achieved a milestone by conducting the first single-port robotic surgery within the Department of Defense. The operation was led by U.S. Navy Lt. Cmdr. (Dr.) Brandon R. Garren, who heads the Department of Urology at WRNMMC. The surgery aimed to address an enlarged prostate in the patient. The single-port robotic procedure was carried out using the da Vinci Xi Surgical System. This advanced surgical system employs a single incision in the abdomen to access the surgical site, with the surgeon remotely controlling robotic arms from a console situated outside the operating room. This technology has diverse uses across various surgical procedures, such as coronary artery bypass, joint replacement, organ transplantation, gynecological surgeries, and cancer treatments.

A huge amount of R&D is focused on developing therapeutic options for large joints that include ball-and-socket hip and hinge knee joints. Most of the revenue of the orthopedic industry is generated by diagnostics & therapeutics of large joints; factors that are driving the growth of the diagnostics and therapeutics of large joints segment are the aging population, the rising incidence of sports injuries, and the increasing availability of minimally invasive surgical procedures. Successful reconstruction is important to restore mobility among these patients. For instance, according to Johns Hopkins University, over 3.5 million children aged 14 and under experience injuries while playing sports or engaging in recreational activities every year. While fatalities due to sports injuries are uncommon, the primary cause of death resulting from such injuries is brain injury. Around 21 percent of all traumatic brain injuries in American children are linked to sports and recreational pursuits. Nearly 50 percent of head injuries occurring during sports or recreational activities happen during incidents involving bicycling, skateboarding, or skating.

Technique Insights

The joint replacement segment includes partial or total replacement by artificial or bone grafts and dominated the market with the largest revenue share of 32.57% in 2022. It is expected to maintain its dominance over the forecast period. The segment's dominance can be attributed to high production costs and many procedural volumes. Artificial implants captured the largest share owing to their 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 longer for the natural growth of the graft. According to The Center (Orthopedic & Neurosurgical Care & Research), projected figures indicate a significant rise of 673% in total knee replacement surgeries, reaching 3.5 million procedures annually by 2030. Close to half of the adult population in the U.S. is expected to encounter knee osteoarthritis in at least one knee during their lifetime. Women undergo nearly 60% of all knee replacement surgeries. Around 80% of individuals with osteoarthritis face certain levels of movement restriction. Approximately 85% of knee replacements are anticipated to remain functional for two decades. Moreover, over 90% of those who undergo knee replacement surgery witness a considerable reduction in knee pain.

Global Joint Reconstruction Devices market share and size, 2022

The arthroscopy segment is estimated to register the fastest CAGR of 5.0% over the forecast period. High emphasis on minimally invasive surgeries and the utility of arthroscopic devices in diagnosis and joint reconstruction surgeries 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 market for other major processes, such as osteotomy and resurfacing, depends on the procedural volume. Thus, the growth of these segments is directly proportional to the growing prevalence of joint-related conditions. Other major factors include introducing advanced preoperative planning tools and image magnifiers.

For instance, in January 2023, Pristine Surgical Summit 4K single-use arthroscope received FDA 510(k) clearance. The Summit arthroscope is a 4K single-use device that combines a high-definition image with cloud-based software to deliver a clear and consistent view of the joint. This makes it easier for surgeons to visualize the problem and perform the surgery more efficiently. The Summit arthroscope is also 100% sterile, which helps to reduce the risk of infection. This is a major advantage over traditional reusable arthroscopes, which can become contaminated over time.

Regional Insights

North America dominated the global market and accounted for the largest revenue share of around 45.94% in 2022. The segment's dominance 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 the high disposable income of patients. These factors help generate demand for advanced therapeutic options. Also, technological advancements by key market players contribute to the segment’s dominance throughout the forecast period. For instance, in July 2022, U.S.-based company Enovis launched a wearable device called Arvis for knee and hip replacements. It has an augmented reality visualization and information system for orthopedic navigation.

Joint Reconstruction Devices Market Trends, by Region, 2023 - 2030

Asia Pacific is expected to grow at the fastest CAGR of 5.8% during the forecast period. High levels of population, developing economies, and increasing demand for advanced therapeutic options are factors anticipated to drive growth in this region 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 market's growth. These two countries, along with Japan, are expected to spearhead the regional market's growth. 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 a large number of distribution partners.

For instance, according to the Economic and Social Commission for Asia and the Pacific (ESCAP), Greenfield investments in the Asia-Pacific region have displayed resilience, showing a growth of 6% in 2022. Conversely, completed mergers and acquisitions (M&A) deals in the same region dropped significantly by 70% during the initial three quarters of 2022. Among the subregions, South and South-West Asia and the Pacific experienced substantial growth in attracting Greenfield foreign direct investment (FDI), with increases of 290% and 54%, respectively. Nevertheless, this growth was uneven, with India and Australia leading in FDI attraction in their respective subregions. In a notable shift, India surpassed China in 2022 to become the foremost destination and source of Greenfield FDI in the Asia-Pacific, recording inward FDI of USD 60 billion and contributing USD 35 billion in outward FDI.

Joint Type Insights

Based on the joint type, the market for joint reconstruction devices is segmented into knee, hip, shoulder, and ankle. The knee segment is expected to have a significant revenue share in 2022 and is anticipated to grow at a significant rate over the forecast period. With the population getting older, the occurrence of conditions such as osteoarthritis that frequently necessitate knee surgeries also rising. Progress in surgical methods, implants, and artificial joints enhances the success and availability of knee surgeries, motivating individuals to consider treatment, these are the factors driving the growth of the segment. For instance, according to the Centers for Disease Control and Prevention (CDC), about a quarter, or roughly 25%, of the adult population in the U.S., totaling around 54.4 million people, experience various types of arthritis. This number is expected to increase to 78 million by the year 2040. Within the spectrum of arthritis variations, the predominant form is osteoarthritis (OA), impacting 32.5 million adults across the U.S.

The shoulder segment is expected to grow at a significant rate over the forecast period. The factors such as improved healthcare access, including insurance coverage, availability of specialized surgeons, and well-equipped medical facilities, make shoulder surgery more accessible to a larger portion of the population. For instance, the American Academy of Orthopaedic Surgeons reported that, approximately 53,000 individuals in the U.S. undergo shoulder replacement surgery annually. In contrast, the number of Americans who receive knee and hip replacement surgery surpasses 900,000 each year.

Key Companies & Market Share Insights

The market is highly consolidated as major players hold the reins of the global industry dynamics. However, the industry, dependent on technology, is gradually becoming fragmented as many new entrants and already established players are launching advanced products. For instance, in March 2023, Stryker launched its Mako Total Knee 2.0 surgical robotics platform at the American Academy of Orthopaedic Surgeons (AAOS) 2023 annual meeting in Las Vegas. It consists of a digital tensioner, one of the new features that allow for intraoperative knee stability assessment during total knee arthroplasty without additional instrumentation.

At AAOS 2023, Zimmer Biomet disclosed its ambitions for further AI integration and other improvements to its ZBEdge Dynamic Intelligence platform for hip and knee operations. Increased integration of ZB's WalkAI, an artificial intelligence system that can identify patients with slower gait speeds 90 days following hip or knee surgery, is one of the enhancements. In addition, a significant rise in domestic companies in China indicates the industry is 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. In February 2023, Globus Medical, a musculoskeletal solutions company, signed an agreement to acquire NuVasive, a spine technology company, for around USD 3.1 billion, and the two firms now share operations in over 50 countries.

Key Joint Reconstruction Devices Companies:

  • Medtronic
  • Stryker
  • Aesculap, Inc. (B. Braun company)
  • Zimmer Biomet
  • DePuy Synthes
  • Smith+Nephew
  • CONMED Corporation
  • DJO, LLC
  • NuVasive, Inc.
  • Wright Medical Group N.V.

Joint Reconstruction Devices Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 27.46 billion

Revenue forecast in 2030

USD 37.21 billion

Growth rate

CAGR of 4.4% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

Report updated

October 2023

Quantitative units

Revenue in USD million/billion, and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

technique, joint type, region

Regional Scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; UK; Germany; France, Italy; Spain; Denmark; Sweden; Norway; Japan, China; India; Australia; Thailand; South Korea; Mexico; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE; Kuwait

Key companies profiled

Medtronic; Stryker; Aesculap, Inc. (B. Braun company); Zimmer Biomet; DePuy Synthes; Smith+Nephew; CONMED Corporation; DJO, LLC; NuVasive, Inc.; Wright Medical Group N.V.

Customization scope

Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

 

Global Joint Reconstruction Devices Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global joint reconstruction devices market report on the basis of technique, joint type, and region:

Global Joint Reconstruction Devices Market Report Segmentation

  • Technique Outlook (Revenue, USD Million, 2018 - 2030)

    • Joint Replacement

    • Osteotomy

    • Arthroscopy

    • Resurfacing

    • Arthrodesis

    • Others

  • Joint Type Outlook (Revenue, USD Million, 2018 - 2030)

    • Knee

    • Hip

    • Shoulder

    • Ankle

    • Others

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • France

      • Italy

      • Spain

      • Denmark

      • Sweden

      • Norway

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • Thailand

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East and Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Kuwait

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