Joint Reconstruction Devices Market To Reach $37.21 Billion By 2030

Joint Reconstruction Devices Market Growth & Trends

The global joint reconstruction devices market size is expected to reach USD 37.21 billion by 2030, registering a CAGR of 4.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. High adoption of minimally invasive surgeries across the globe has given rise to technological advancement in surgical devices and procedures. In addition, growing prevalence of joint-related conditions and changing therapeutic approaches are expected to boost the market growth.

The joint reconstruction devices market is largely dependent on technological development. Ongoing studies on improving robotically-assisted surgeries and bionic implants are expected to play a pivotal role in the development of total joint replacement surgeries market. These advancements are expected to help in complex surgeries to improve success rate of these procedures and increase patient convenience.

A major share of the joint reconstruction market is captured by large joints. Knee and hip joint reconstruction together captured more than half of the revenue share in 2016. The prevalence of conditions related to these two joints is higher as compared to other joints due to overuse. Treatment of conditions related to these joints is crucial to recover the mobility of patients. Thus, a significant amount of funds are invested in R&D of large joint reconstruction techniques.

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Joint Reconstruction Devices Market Report Highlights

• Joint replacement dominated the market with the largest revenue share of 32.57% in 2022and is expected to maintain dominance throughout the forecast period. High procedural volume and high price of implants are anticipated to drive growth.

• 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. Availability of a large number of treatment options and introduction of innovative surgical techniques are expected to drive the growth of the segment.

• 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.

• 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.

Joint Reconstruction Devices Market Segmentation

Grand View Research has segmented the global joint reconstruction devices market on the basis of on technique, joint type, and region:

Joint Reconstruction Devices Technique Outlook (Revenue, USD Million, 2018 - 2030)

• Joint Replacement

• Osteotomy

• Arthroscopy

• Resurfacing

• Arthrodesis

• Others

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

• Knee

• Hip

• Shoulder

• Ankle

• Others

Joint Reconstruction Devices 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

List of Key Players in the Joint Reconstruction Devices Market

• Medtronic

• Stryker

• Aesculap, Inc. (B. Braun company)

• Zimmer Biomet

• DePuy Synthes

• Smith+Nephew

• CONMED Corporation

• DJO, LLC

• NuVasive, Inc.

• Wright Medical Group N.V.