In a recently research study titled, “the Global Artificial Joints Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global artificial joints market was valued at US$ 16.90 Bn in 2016, and is expected to reach US$ 25.91 Bn by 2025, expanding at a CAGR of 5.0% from 2017 to 2025.
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Artificial joint is surgically implanted to replace a natural joint to correct join abnormalities and to enhance join function. In base year 2016, artificial joints of knee segment held the largest market share. Factors such growing aging population, consequently increasing incidence of age related musculoskeletal diseases such as arthritis and osteoporosis, rising obese population are majorly contributing to the demand for of knee and hip replacement surgeries. Different types of materials are used to prepare artificial joints such as alloys, oxinium, ceramic and polymer. However, in the base year 2016, ceramic artificial joints held largest market share and it is anticipated to grow further during the forecast period as these are reduced risk of osteolysis, chemical inertness, resistance to corrosion, non-allergic properties and biocompatibility. The artificial joints market is currently dominated by North America due to continuous increase in obese population, higher cost of implantable joints, technological advancement, rising geriatric population, upsurge in funding by government agencies and private organizations in healthcare.
Market Competition Assessment:
The artificial joints market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as Aesculap AG, AK Medical, Arthrex, Biomet, Inc., Depuy Synthes (Johnson & Johnson), DJO Global, Inc., Exactech, Inc., Globus Medical, JRI Orthopaedics, Medtronic, Inc., NuVasive, Inc., SAMO, Smith & Nephew, Stryker Corp., Zimmer Holdings and others.
Key Market Movements:
- Increasing geriatric and obese population, rising incidence of osteoarthritis and arthritis would further drive the market growth of global artificial joints.
- However, factors such as high cost of surgery, post-surgical complications and increasing awareness for some non-surgical treatment may negatively impact the market growth.
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