Michael Barbella, Managing Editor08.10.22
Despite some hiccups, the global joint reconstruction devices/equipment market is destined for growth over the next four years.
Reportlinker notes the sector grew from $11.84 billion last year to $12.98 billion this year at a compound annual growth rate (CAGR) of 9.6%, and the firm predicts the market to expand to $17.6 billion in 2026 at a 7.9% CAGR.
Market drivers include increasing patient caseloads (from sports injuries, road accidents, and trauma), and a rise in joint reconstruction diseases such as osteoarthritis. Patients are preferring joint replacement treatment instead of other treatments for joint diseases, because of increased safety and reliability.
Osteoarthritis is a common disorder of joints that mainly affects the geriatric population worldwide. This condition can be treated by joint replacement surgeries using orthopedic knee and hip implants surgery According to the Arthritis Foundation, about 67 million people are expected to suffer from arthritis by 2030. This rise in the patient pool for joint diseases is driving the demand for the joint reconstruction devices and equipment market, significantly impacting the market growth.
The joint reconstruction devices and equipment market consist of sales of joint reconstruction devices and equipment and related services. Joint reconstruction devices and equipment are used in joint reconstruction procedures. The main product types of joint reconstruction devices and equipment are knee reconstruction devices, hip reconstruction devices, and extremity reconstruction devices.Hip reconstruction devices are medical devices intended to restore mobility and relieve pain associated with arthritis and other hip diseases or injuries.
The various applications involved are arthrodesis, arthroscopy, joint replacement surgery, osteotomy, resurfacing surgery, and small joint surgery. The various end-users are hospitals, orthopedic clinics, and ambulatory surgical centers.
North America was the largest region in the joint reconstruction devices and equipment market last. year. Asia Pacific was the second largest market in joint reconstruction devices and equipment market.
The joint reconstruction devices and equipment market is being restrained due to the high rate of product recalls.The medical devices industry including joint reconstruction devices is seeing a significant spike in product recalls during recent years, due to defects, concerns regarding patient safety, software issues, mislabeling issues, quality issues, and others, thereby affecting the growth of the market.
DePuy Synthes recalled several of its Attune knee replacement systems, due to safety concerns and Zimmer Biomet recalled five products related to the Oxford portfolio due to racking and separation issues.The product line recalled included the Oxford Partial Knee System Right and Left Medial Tibial Tray (of various sizes), and the Oxford Unicompartmental Knee Phase 3 Tibial Impactor.
This high recall rate is affecting the sales of joint reconstruction devices and hampering the growth of the market.
Companies in joint reconstruction devices are increasingly investing in 3D printing technology due to its significant improvement over traditional joint reconstruction surgery.This technique uses for reconstructions of bones as a base before the surgery plan so the patient can get a preoperative MRI or CT scan. These features are particularly beneficial for patients in terms of safety concerns, which can affect adherence to treatment regimens. For instance, in 2019, Conformis launched a hip implant using 3D printing technology as per patients’ specifications.
In March 2019, Exactech acquired XpandOrtho for an undisclosed amount. This acquisition is expected to enhance ExactechGPS computer-assisted surgery system using XpandOrtho’s technology. XpandOrtho designs soft tissue balancing instruments for knee replacement surgery.
Reportlinker notes the sector grew from $11.84 billion last year to $12.98 billion this year at a compound annual growth rate (CAGR) of 9.6%, and the firm predicts the market to expand to $17.6 billion in 2026 at a 7.9% CAGR.
Market drivers include increasing patient caseloads (from sports injuries, road accidents, and trauma), and a rise in joint reconstruction diseases such as osteoarthritis. Patients are preferring joint replacement treatment instead of other treatments for joint diseases, because of increased safety and reliability.
Osteoarthritis is a common disorder of joints that mainly affects the geriatric population worldwide. This condition can be treated by joint replacement surgeries using orthopedic knee and hip implants surgery According to the Arthritis Foundation, about 67 million people are expected to suffer from arthritis by 2030. This rise in the patient pool for joint diseases is driving the demand for the joint reconstruction devices and equipment market, significantly impacting the market growth.
The joint reconstruction devices and equipment market consist of sales of joint reconstruction devices and equipment and related services. Joint reconstruction devices and equipment are used in joint reconstruction procedures. The main product types of joint reconstruction devices and equipment are knee reconstruction devices, hip reconstruction devices, and extremity reconstruction devices.Hip reconstruction devices are medical devices intended to restore mobility and relieve pain associated with arthritis and other hip diseases or injuries.
The various applications involved are arthrodesis, arthroscopy, joint replacement surgery, osteotomy, resurfacing surgery, and small joint surgery. The various end-users are hospitals, orthopedic clinics, and ambulatory surgical centers.
North America was the largest region in the joint reconstruction devices and equipment market last. year. Asia Pacific was the second largest market in joint reconstruction devices and equipment market.
The joint reconstruction devices and equipment market is being restrained due to the high rate of product recalls.The medical devices industry including joint reconstruction devices is seeing a significant spike in product recalls during recent years, due to defects, concerns regarding patient safety, software issues, mislabeling issues, quality issues, and others, thereby affecting the growth of the market.
DePuy Synthes recalled several of its Attune knee replacement systems, due to safety concerns and Zimmer Biomet recalled five products related to the Oxford portfolio due to racking and separation issues.The product line recalled included the Oxford Partial Knee System Right and Left Medial Tibial Tray (of various sizes), and the Oxford Unicompartmental Knee Phase 3 Tibial Impactor.
This high recall rate is affecting the sales of joint reconstruction devices and hampering the growth of the market.
Companies in joint reconstruction devices are increasingly investing in 3D printing technology due to its significant improvement over traditional joint reconstruction surgery.This technique uses for reconstructions of bones as a base before the surgery plan so the patient can get a preoperative MRI or CT scan. These features are particularly beneficial for patients in terms of safety concerns, which can affect adherence to treatment regimens. For instance, in 2019, Conformis launched a hip implant using 3D printing technology as per patients’ specifications.
In March 2019, Exactech acquired XpandOrtho for an undisclosed amount. This acquisition is expected to enhance ExactechGPS computer-assisted surgery system using XpandOrtho’s technology. XpandOrtho designs soft tissue balancing instruments for knee replacement surgery.