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North America Joint Reconstruction Devices Market Forecast 2027 By Joint Type (Knee Replacement {Product [Primary Knee Systems, Revision Knee Systems, Partial Knee Systems], Component [Femoral Component, Tibial Component, Patellar Component]}, Hip Replacement {Product [Primary Hip Reconstruction Devices, Partial Hip Reconstruction Devices, Revision Hip Reconstruction Devices, Hip Resurfacing Devices], Component [Acetabular Component, Femoral Component]}, Shoulder Replacement {Shoulder Arthroplasty Resurfacing Implants, Shoulder Arthroplasty Trauma Implants, Shoulder Arthroplasty Platform Implants}, Ankle Replacement {Two-Component Fixed Bearing, Three-Component Mobile Bearing}), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: November 2021 | Publisher: Graphical Research Report ID: GR2025 | Delivery : PDF  Request Free Sample

North America Joint Reconstruction Devices Market size exceeded USD 8.4 billion in 2020 and is expected to witness 4.4% CAGR from 2021 to 2027.

Significant upsurge in the prevalence of orthopedic injuries is anticipated to promote the adoption of joint reconstruction devices. The incidence of osteoporosis and osteoarthritis is another major health concern affecting substantial proportion of elder adults. With augmented use of hip, ankle, knee, and shoulder replacement procedures among other orthopedic surgeries, the demand for these devices is expected to increase significantly.

North America Joint Reconstruction Devices Market Report

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The rapidly aging population in the U.S. is estimated to proliferate the use of joint reconstruction devices. The key impact rendering factor behind the aging population in the U.S. is the baby boomer’s population. Amongst one of the largest generations in the country, boomers have a substantial share in the population. As per the U.S. Census Bureau, the boomers are set to expand the elderly population and increase from 15% in 2018 to 21% by 2030. By the year 2060, approximately one in four Americans is expected to be aged 65 years and above, with the number of adults aged 85 and over set to triple. Older adults are reported to be increasingly susceptible to orthopedic injuries and disorders. Increased medical comorbidities & reduced physiological reserve, morbidity, and mortality post-orthopedic trauma is significantly higher in patients aged 70 years and older.

The rise in prevalence of musculoskeletal disorders will fuel the North America joint reconstruction devices market growth. Musculoskeletal conditions such as trauma, back pain, and arthritis are amongst the most prevalent conditions that impact the quality of life. The musculoskeletal diseases outstrip the prevalence of circulatory & respiratory diseases and affects around one in three individuals. According to the United States Bone and Joint Initiative (USBJI) report, orthopedic and musculoskeletal disorders affect the bones, joints, and muscles further impacting the daily quality of life, activity, and productivity.

North America Market, By Joint Type

The knee replacement segment in the North America joint reconstruction devices market is projected to reach USD 6,064 million revenue by 2027. This dominant revenue share is owing to the surging prevalence of orthopedic knee disorders, geriatric population, and the growing number of knee replacement procedures in the region. The increasing prevalence of osteoarthritis among the aging population has facilitated the demand for knee replacement devices.

North America Market, By Country

U.S. joint reconstruction devices market value was more than USD 7,976 million in 2020, due to the increasing geriatric population, surging healthcare expenditure, and the rising prevalence of orthopedic disorders in the country among others. Furthermore, prominent market players including Stryker Corporation, Johnson & Johnson, and Zimmer Biomet are implementing strategic initiatives including new product launches that will further increment the use of joint reconstruction devices.

Competitive Industry Landscape

Some of the major players involved in the North America joint reconstruction devices market are Stryker, DJO Global, Globus Medical, ConforMIS, Smith & Nephew, Medtronic, Zimmer Biomet, NuVasive, MicroPort Scientific Corporation, Medacta, and Waldemar LINK.

These companies are adopting several strategic formulations including product launches and partnerships for channelizing maximum revenue share and bolstering their industrial position. For instance, in April 2021, Zimmer Biomet announced the U.S. FDA 510(k) clearance for its ROSA Partial Knee System for robotically-assisted partial knee replacement surgeries. This system is a part of ROSA Robotics, a multiple application robotics platform for neurosurgical & spine procedures and utilizes a suite of advanced digital and robotic technologies. This approval will help the company in expanding their knee replacement portfolio and drive product sales.

Frequently Asked Question(FAQ) :

The market size for joint reconstruction devices in North America was surpassed USD 8.4 billion in 2020 and will observe around 4.4% CAGR between 2021 and 2027 with increasing cases of orthopedic injuries.
Knee replacement segment could be valued at around USD 6 billion in North America market by 2027 due to rising geriatric population and prevalence of orthopedic knee disorders.
The market size for joint reconstruction devices in U.S. garnered over USD 7 billion in 2020 and will grow with increasing healthcare expenditure and presence of leading manufacturers.
Smith & Nephew, Globus Medical, Stryker, Zimmer Biomet, Waldemar LINK and MicroPort Scientific Corporation, among others, are some of the leading companies boosting North America market forecast.

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