Joint Replacement Market Is Expected To Grow At 3.4% CAGR From 2019 To 2028

PUNE, India - Jan. 16, 2023 - PRLog -- Joint replacement is the process of replacing a damaged joint with an artificial. Joint replacement operation differs according to the joints involved, the reason for replacement and the kind of artificial joints used. Various kind of joint diseases like osteoarthritic and Inflammatory arthritis lead to joint replacement. These operations are done to relieve severe pain and reduced mobility of advanced arthritis, particularly osteoarthritis. Robotic-assisted surgeries and technological advancements have played a principal role in industry growth during the recent years.

JOINT REPLACEMENT MARKET OUTLOOK

In the future, the global joint replacement market growth is predicted to boost due to increasing technological advancement in surgical field, increasing number of ageing population and rising numbers of chronic medical condition such as, osteoarthritis, inflammatory arthritis, trauma or injury and cancer in or near a joint. However, excessive cost associated with the joint replacement surgeries and lack of trained and expert & surgeons are the major factors hindering the growth of the market.

JOINT REPLACEMENT MARKET BY GEOGRAPHY

By geography the joint replacement market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Middle East & Africa. North America accounted for largest market share owing to presence of developed and well-established health care system in the region. However, Asia Pacific is anticipated to grow at highest CAGR during the projected period owing to government initiatives, high investments in the healthcare sector, improving healthcare infrastructure in India and China and increasing demand in countries, such as India, China, and Japan.

JOINT REPLACEMENT MARKET KEY PLAYERS

Some of the key participants  in the joint replacement market are B. Braun Melsungen AG, Stryker, AK Medical Holdings Limited, Mindray, Corin, Mathys AG Bettlach, Smith & Nephew, Waldemar LINK GmbH & Co. KG, Medacta International, Exactech, Inc, DePuy Synthes, Zimmer Biomet, Johnson & Johnson Services, Inc. Key players in the global joint replacement market are focusing on expansions, acquisitions, agreements and investments as their major growth strategies, to enter new untapped markets, consequently increasing their respective market shares.

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