Europe Joint Reconstruction Devices Market size surpassed USD 3.5 billion in 2020 and is projected to exhibit a CAGR of 3.9% from 2021 to 2027.
Joint reconstruction devices refer to the medical implants that are used to replace or substitute an articulating surface of a knee, hip, or shoulder joint. These implantable medical devices deliver primary fixation to the bone for the replacement articulating surface. These devices are widely utilized in joint replacement surgical procedures in those parts of a damaged or arthritic joint that are removed and replaced with a ceramic, plastic, or metal prosthesis. Joint reconstruction devices are designed to replicate the movement of a healthy and normal joint.
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Growing geriatric population in European countries is set to positively impact the market since the number of dependent elderly persons requiring joint replacement surgical procedures is increasing. As per the article published in 2019, 1 in 5 individuals were over the age of 65 in Germany, that is expected to reach 1 in 3 by 2060. According to the Eurostat, in 2020, over one fifth (20.6%) of the European Union population was aged 65 and above. Further, according to the Age UK survey, in 2019, around 12 million people were 65 years and above in the UK. In addition, with the substantial proportion of population aging, the prevalence of orthopedic ailments in the aged population is anticipated to increase in the foreseeable future. Hence, in order to cater to the ever-growing geriatric patient base, the players operating in the Europe joint reconstruction devices market are focusing to work efficiently by adopting advanced technologies.
Rising prevalence rates of orthopedic diseases such as osteoarthritis, osteoporosis, rheumatoid arthritis, etc. are some of the key variables driving the Europe joint reconstruction devices market demand. As per the National Health Services, over 10 million people have arthritis or other similar conditions that affect the joints in the UK. Hence, these conditions require orthopedic intervention that incorporates extensive use of joint reconstruction implants and devices. Furthermore, rising life expectancy, rapid aging, and sedentary lifestyle among others contribute to an upsurge of orthopedic ailments.
Europe Market, By Joint Type
The knee replacement segment revenue in the Europe joint reconstruction devices market was over USD 1,643 million in 2020, attributed to the increasing prevalence of arthritis & osteoporosis, technological advancements, the need for personalized & patient specific implants, growing infection rates contributing to rising knee revisions, etc.
The rate of infections related to knee replacement has been surging over the years. The severe complications comprising infections occur in over 2% of the patients. The existing standard of care for late chronic infection is a two-stage revision arthroplasty. As per the research article, in 2018, around 23,812 revision knee arthroplasties were performed in Germany. Thus, the continuously increasing rate of post-surgical infections will fuel the segment growth. The increasing success rates of knee replacement procedures due to the rising technological advancements have augmented the knee replacement implants demand in recent years.
Europe Market, By Country
UK joint reconstruction devices market accounted for over 17% revenue share in 2020. This substantial market share is owing to the surging government spending on medical devices, presence of established manufacturers, growing geriatric base coupled with rising prevalence of diseases, and supportive government initiatives.
According to the Age UK and the Office for National Statistics, by 2034, the number of people aged 65 and above is forecast to upsurge to more than 16 million in the UK. Osteoarthritis is the most prevalent chronic joint ailment that highly affects people aged 65 and above. In the UK, joint replacement procedures are commonly performed in elderly people, but it’s also becoming popular in middle age group owing to the availability of high-quality joint replacement implants and painless procedures.
Competitive Industry Landscape
Prominent companies involved in the Europe joint reconstruction devices market include Stryker Corporation, NuVasive, MicroPort Scientific Corporation, Medtronic, ConforMIS, Smith & Nephew, Globus Medical, Zimmer Biomet, DJO Global, Medacta, and Waldemar LINK, among others. These industry players are engaged in several strategic initiatives such as mergers & acquisitions, product launch, distribution agreements to maintain their market position.