The global “orthopedic joint replacement market” is anticipated to grow on account of rising geriatric population and su8bsequently rising demand in developed and developing nations. Fortune Business Insights in its new report, titled “Orthopedic Joint Replacement Market: Global Market Analysis, Insights and Forecast, 2018-2026” offers in-depth insights into the market. As per the report, the global orthopedic joint replacement was worth US$ 19051.2 Mn in the year 2018 and is estimated to reach US$ 26967.9 Mn by the end of 2026. Furthermore, it is projected that the global market for orthopedic joint replacement market will exhibit a CAGR of 5.1% from 2019 to 2026. The scope of orthopedic joint replacement procedures is expected to increase in the forthcoming years.
These procedures include partial replacement, total replacement, revision replacement, and reverse replacement. Among these, total replacement accounted for the maximum share in the global orthopedic joint replacement market in 2018. As per Fortune Business Insights, this segment is projected to remain strong throughout the forecast period between 2018 and 2026. This segment provides more product offerings in total replacement as compared to other segments.
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Leading Players operating in the Orthopedic Joint Replacement Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Wright Medical Group N.V.
- Zimmer Biomet
- Integra LifeSciences
- Johnson and Johnson Services, Inc.
- Braun Melsungen AG
- Conformis
- MicroPort Scientific Corporation
- Bioimpianti
North America Forecast to Hold Dominant Share
Among regions, the report forecasts North America to account for the largest share in the global orthopedic joint replacement market. The advent of advanced technologies such as artificial disc replacement and their rising adoption is the chief reason responsible for driving the market in North America. Also, rising awareness regarding the importance of joint replacements in this region may offer huge growth opportunities to the orthopedic joint replacement market. Asia Pacific is also expected to show considerable growth in the global orthopedic joint replacement market. Rising government initiatives to promote medical devices is likely to drive the market in this region.
Market Segmentation:
By Product
- Knee
- Hip
- Shoulder
- Ankle
- Others
By Procedure
- Total Replacement
- Partial Replacement
- Others
By End User
- Hospital
- Ambulatory Surgical Centers
- Orthopedic Clinics
- Others
By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Reasons to Purchase this Report:
- Comprehensive analysis of the Orthopedic Joint Replacement Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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KEY QUESTIONS ANSWERED:
- What are the key technological and Orthopedic Joint Replacement Market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- Why Choose Fortune Business Insights?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Orthopedic Joint Replacement Market growth?
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