Fairfield Market Research Orthopaedic Joint Replacement Market Size, Share, Growth 2029

Orthopaedic Joint Replacement Market

Global Industry Analysis (2018 - 2021) - Growth Trends and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Medical Devices


Request TOC Request Customization

Orthopaedic Joint Replacement Market Remains Focussed on Artificial Joints to Enhance Quality of Life

Painless movement becomes the goal of life as people age, and if the joint functionality is lost, knee, and hip prostheses that offer a solution are among the most sought-after, and successful surgical procedures performed today. Several conditions can cause joint pain, and disability and lead patients to consider a joint replacement surgery. Total joint replacement is a surgical procedure in which parts of an arthritic, or damaged joint are removed, and replaced with a metal, plastic, or ceramic device called a prosthesis. The prosthesis is designed to replicate the movement of a natural, normal, healthy joint in addition to achieve more natural kinematics, and optimised implant positioning.

Hip and thigh, and knee and lower leg replacements are the most commonly performed joint replacements, as indicated by the American Academy of Orthopaedic Surgeons. However, a replacement surgery can be performed on other joints as well, including the foot and ankle, hand and wrist, shoulder, elbow, neck, and back. The number of orthopaedic surgeries is ever-increasing strongly supported by rapid technological improvements and emergence of innovative surgical techniques. Procedures such as hip resurfacing, mini stem total hip arthroplasty, dual mobility total hip arthroplasty, cement-less knee total knee arthroplasty, implant surface modification, and robotic assisted surgery continue to add to the safety, and reliability of orthopaedic joint replacement. Moreover, custom implants, and 3D implants further elevate the scope of expansion for the orthopaedic joint replacement market.

Orthopaedic Joint Replacement Market Thrives on Success Rate of Replacement Surgeries

According to the American Academy of Orthopedic Surgeons (AAOS), 90% of people with a replaced knee have reported significant reduction in pain. For many, it helps them stay active, and may enable them to return to routine activities they previously enjoyed such as walking, and golf. A study published in the Journal of Bone and Joint Surgery shows that 5.26% of individuals in the US have had total hip replacement surgery by the age of 80 years, while 10.4% underwent total knee replacement surgery by almost the same age. In both instances, the proportion of female patients is higher. The AAOS notes that over 90% of replaced knees are still functioning after 15 years of the surgery. According to research published in 2019, 82% of total knee replacements are still functional even after 25 years of the surgery. These positive statistics have built a strong case for the global orthopaedic joint replacement market.

Growing Musculoskeletal Conditions Gives Global Orthopaedic Joint Replacement Market Wider Opportunities

Rising musculoskeletal diagnoses and high prevalence of osteoporosis fractures are boosting the number of orthopaedic procedures worldwide. According to the World Health Organization (WHO) estimates, about 20–33% of people across the globe live with painful musculoskeletal conditions, creating a lucrative ground for orthopaedic joint replacement market.

The International Osteoporosis Foundation states that there were an estimated 9 million osteoporosis fracture cases in 2000, of which around 1.6 million were at the hip, 1.7 million were at the forearm, and 1.4 million were clinical vertebral fractures. More than half, about 51%, of these are in Europe, and the Americas while the remainder were noted in the Western Pacific, and Southeast Asian regions. These figures are indicators of a positive outlook for orthopaedic joint replacement market during the forecast years of 2022 to 2026.

Precision Driven Technological Advancements Fuel Expansion of Orthopaedic Joint Replacement Market

Noteworthy technological advancements impacting orthopaedic surgical interventions are autonomous surgical robots, 3D printed surgical planning models and instruments, and augmented reality assisted surgeries. In 2019, Zebra Medical Vision was acquired by DePuy Synthese (J&J) to develop, and commercialise the 3D imaging technology for orthopaedic surgery. In February 2020, Globus Medical announced its first procedure using HEDRON IA implant, a 3D printed integrated ALIF spacer that leverages anchors, or screws for vertebral body fixation. This technology offers smaller incisions, and lesser exposure to potential complications during implanting procedure. Thus, technological advances are transforming orthopaedic interventions as the promise of precision, and risk-free procedures builds up patient confidence.

Advanced Materials Improve Acceptance in Global Orthopaedic Joint Replacement Market

Several orthopaedic implant manufacturers–Smith & Nephew, Wright Medical Technology, DePuy, Biomet, Medacta, and Zimmer–offer Patient Specific Instrumentation (PSI systems). These systems can be used for total joint arthroplasty, or unicompartmental joint arthroplasty. Preoperative 3D imaging (CT scan, or MRI) is used to model the joint anatomy and design a personalised surgical plan with respect to bone resection, component positioning, and alignment. There is high success rate in using better and longer lasting biocompatible machines. Space age bio-materials and computer assisted improvements are now helping patients live a better and more active life. However, soft tissue imbalance, equal and rectangular extension and flexion gaps, and medial and lateral compartment loads are the major causes of dissatisfaction.

Regulations and Standards to Ensure Quality Aids Orthopaedic Joint Replacement Market Growth

There are Medical Devices Act/Regulations/Classifications by the various countries. Chief is Standards by ISO/TC 150/SC 4 for bone, and joint replacements. EndoLab, BSI, testing and accreditation companies ensure these standards are met. According to a study published in The Journal of Rheumatology, total hip arthroplasty may increase by 284% in 2040 to 1,429,000 replacements; total knee arthroplasty to increase by 401% in 2040 to 3,416,000 replacements, with replacements occurring slightly more frequently in women and in individuals aged 45–84 years. International Society of Orthopaedic Surgery and Traumatology (SICOT), and World Orthopaedic Concern (WOC) promote, and work for advancement of the science, and art of orthopaedics, and traumatology at international level.

Global Orthopaedic Joint Replacement Market: Key Players

Stryker, J&J (Orthopaedics), Zimmer Biomet, Smith & Nephew (Sports Medicine, Trauma, and Reconstruction), Medtronic (Spine Division), Colfax Corp., DJO Global, Wright Medical, Orthofix Medical, ConMed (Orthopaedic Surgery), DePuy Synthes, NuVasive, Globus Medical, Össur, Integra LifeSciences, and Wright Medical are some of the most prominent players in the global orthopaedic joint replacement market.

Global Orthopaedic Joint Replacement Market is Segmented as Follows:

By Procedure

  • Hip Replacement
  • Knee Replacement
  • Elbow Replacement
  • Ankle Replacement
  • Other Procedures

By Products

  • Implants
    • Metallic
    • Ceramic
    • Polymeric Biomaterials
  • Bone Grafts
    • Allograft
    • Synthetic
  • Other Products

By Region

  • North America
  • Europe
  • Asia Pacific
  • The Middle East and Africa
  • Latin America

Key Elements Included In The Study: Global Orthopaedic Joint Replacement Market

  • Orthopaedic Joint Replacement Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2021
  • Market Value at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

Post Sale Support, Research Updates & Offerings

We value the trust shown by our customers in Fairfield Market Research. We support our clients through our post sale support, research updates and offerings.

  • The report will be prepared in a PPT format and will be delivered in a PDF format.
  • Additionally, Market Estimation and Forecast numbers will be shared in Excel Workbook.
  • If a report being sold was published over a year ago, we will offer a complimentary copy of the updated research report along with Market Estimation and Forecast numbers within 2-3 weeks’ time of the sale.
  • If we update this research study within the next 2 quarters, post purchase of the report, we will offer a Complimentary copy of the updated Market Estimation and Forecast numbers in Excel Workbook.
  • If there is a geopolitical conflict, pandemic, recession, and the like which can impact global economic scenario and business activity, which might entirely alter the market dynamics or future projections in the industry, we will create a Research Update upon your request at a nominal charge.

Disclaimer:

  • The segmentation/company profiles/countries depicted above may vary in the actual report.

Request Table of Contents

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

View Methodology
Fairfield Quality assured
Fairfield Confidentiality assured
Fairfield Custom research services