Published Date: 2021-12-01
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European Joint Reconstruction Device Market size is estimated to reach USD 4.9 billion by 2027, according to a latest forecast report by Graphical Research.
Growing technological advancements in joint reconstruction implants will promote the market growth. Around 85%-90% of the joint reconstruction implants work well up to a period of 20-25 years owing to technological advancements in implant design, material and alloys. This increases the preference for such durable and better-quality implants and further stimulates market growth. Moreover, the adoption of innovative technologies in surgical procedures that follow different approaches helps in reducing traumatic conditions that have impacted the industry growth positively. Companies such as Stryker Corporation and Zimmer Biomet have developed novel joint reconstruction implants that address metal sensitivity problems associated with joint reconstruction implants. Further, improvements in design and effectiveness have enabled the convenience of these devices. Wide-ranging R&D activities in the implants utilized for ankle, hip, or shoulder replacement have introduced advanced joint reconstruction devices in the industry comprising personalized, patient-specific, 3D printed, etc.
Growing number of joint reconstruction surgeries is leading to the high demand for joint reconstruction implants, thereby facilitating market demand. The surging elderly population across various countries in the region needs joint replacement surgical procedures to enhance their quality of life. The high-pitched growth rates reported in Germany accounts for the rising number of surgical activities, especially for knee and hip replacements. For instance, the rate of knee replacement surgeries in Germany is approximately 207 per 100,000 populations with the majority of the individuals in the age group of above 50 years. In 2018, the foot and ankle surgery rate increased by over 39.5% in Germany. Further, around 2 million people in Europe are diagnosed with rheumatoid arthritis. This number indicates the increasing demand for joint reconstruction surgeries.
Browse detailed statistical insights from the report, “Europe 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 (Germany, UK, France, Spain, Italy, Russia, Austria, Netherlands, Poland, Portugal, Sweden, Switzerland, Turkey, Ukraine, Denmark), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/2027/europe-joint-reconstruction-devices-market
The hip replacement segment is anticipated to expand at a CAGR of 2.6% from 2021 to 2027. The growing incidence rate of hip arthritis and osteoporosis is expected to spur the industry growth. Nowadays, young teenagers and elderly people with juvenile arthritis are successfully treated with hip replacement procedures owing to the recent and ongoing technological advancements in hip replacement devices. Moreover, the success rate of hip replacement procedures 10 years after surgery is around 90%-95% and at 20 years around 80%-85%. As per the National Center for Biotechnology Information (NCBI), the number of primary hip replacements surgeries is anticipated to upsurge by 27% in 2040 in Germany. According to a report published in 2017, around 15% of the patients that undertake hip replacement surgeries needs revision hip replacement procedure within the next 20 years.
Germany joint reconstruction device industry will reach USD 1,044 million by 2027 owing to the growing healthcare expenditure, rising elderly population, etc. In 2019, the healthcare expenditure accounted for more than USD 470 billion in Germany. The geriatric population is expected to upsurge by 41% to 24 million by 2050, accounting for around one-third of the total population. Similarly, the increasing prevalence rate of orthopedic disorders highlights immense market growth potential in the country. The adoption of novel strategies by the government to promote access to orthopedic disease treatment is expected to improve and amplify the use of joint reconstruction implants in the country. For instance, the government organizations of Germany have implemented several initiatives to support primary care management of several ailments comprising osteoporosis, osteoarthritis, etc.
The joint reconstruction device in Europe market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Europe Market, By Joint Type
The above information has been provided for the following countries:
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