Published Date: 2021-12-01
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North American Joint Reconstruction Device Market size is anticipated to cross USD 12 billion by 2027, according to a latest forecast report by Graphical Research.
The surging number of joint reconstruction procedures is expected to promote the market growth. According to the American Joint Replacement Registry (AJRR), in 2019, approximately 1.2 million patients underwent more than 1.7 million hip and knee replacement procedures. As per the American Academy of Orthopedic Surgeons (AAOS) report, the number of primary total knee replacement surgeries are estimated to grow exponentially by 189% and reach approximately 1.28 million by 2030. The revision surgeries are set to follow the similar trend and expand by 190% by 2030. Moreover, as per the National Centers for Biotechnology Information (NCBI), in 2017, more than 1 million total joint arthroplasty procedures were performed in the U.S. every year. This number is further projected to surge notably and reach approximately 4 million by 2030. This significant increase in the number of joint reconstruction surgeries is poised to boost the market demand. In addition to this, the rising number of road accidents that often need joint replacement procedures are amongst other factors facilitating the market growth.
Growing demand for minimally invasive surgeries, technological advancements, incorporation of novel modalities in the devices, and heavy investments in R&D activities by major players is set to promote the market growth. The augmented use of 3D technology to map the joints, based on CT or MRI scan helps in offering a precise cutting guide for the orthopedic surgeon. It is also used in design and development of a tailored 3D printed implant that fits accurately in the joint. For instance, in 2018, ConforMIS, Inc. announced completion of the ConforMIS Hip System implants. This system is among the premiere 3D-based primary total hip replacement system that offers surgeons with interactive input and enhances the operational efficiencies. The design process delivers specialized and customized pre-navigated cutting guides & implants. Also, the researchers at Duke University, U.S. are developing a synthetic gel that corresponds to the human cartilage in terms of strength and elasticity to be used as a plastic knee joint. Moreover, the development of novel implants that integrate advanced sensors to avail real-time data for surgeons, thereby providing optimal placement, and patient care are also prognosticated to support industry growth. These smart prostheses have the potential to reduce post-surgical complications and enable medical facilities to offer cost-effective & accurate procedures. Notable developments in hip and knee replacement surgeries in past few years have led to high implant survival rate. Certain advancements such as the ceramic hip resurfacing, cementless knee replacement, and mini hip stems are driving the clinical success rate for joint reconstruction procedures.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
The hip replacement segment will reach USD 4,247 million by 2027 owing to the increasing number of hip replacement procedures, the surging prevalence of hip osteoarthritis, and technological advancements in the implants. Hip osteoarthritis is amongst the common orthopedic conditions that mandates frequent follow-up, surgical therapy, and other therapeutics. Owing to considerable prevalence, the number of hip replacement surgeries has witnessed increment in last couple of years. According to the American Academy of Orthopedic Surgeons (AAOS) estimates, by 2060, primary total hip replacement (THR) is set to expand 330% and reach 1.23 million procedures. Similarly, the revision THR is anticipated to reach 110,000 indicating 219% increase by 2060. Moreover, the prominent players are increasingly emphasizing on incorporation of novel modalities in joint reconstruction devices for launching advanced products. For instance, in December 2019, RSIP Vision announced the launch of a novel AI (Artificial Intelligence)-based total hip replacement system that offers an accurate, automated 3D structure of the patients' hip for better surgery planning and placement. This new technology develops an accurate fit of the new implant to provide a better clinical outcome and rapid recovery.
Canada joint reconstruction device industry is projected to expand at 4.7% CAGR from 2021 to 2027 attributed to the rising geriatric population, increasing number of orthopedic surgeries, and surging prevalence of musculoskeletal injuries. According to the Canadian Joint Replacement Registry (CJRR) statistics, in 2018-19, around 62,016 hip replacement surgeries and 75,345 knee replacement surgeries were performed in Canada. This procedural volume indicates 20.1% and 22.5% increase, respectively, as compared to recent 5 years. Majority patients were aged 65 and above (65.7%). In Canada, the patients suffering from degenerative arthritis are surging owing to the aging population along with severe injuries from fall and likely incidents. As per the Osteoarthritis and Cartilage Journal, in 2017, the prevalence of musculoskeletal disorders was estimated to be 15.5% (lower back pain), 7.5% (osteoarthritis of hip and knee), 3.5% (neck pain), 1.4% (gout), and 6.9% (others). Thus, the afore-mentioned statistics and factors highlight the significant market growth potential in Canada, thereby boosting the joint reconstruction devices adoption.
The joint reconstruction device in North American 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:
North America Market, By Joint Type
The above information has been provided for the following countries:
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