Global Artificial Joints Market 2017-2021
About Artificial Joints
Artificial joints are metal or plastic parts that are surgically implanted to replace a natural body joint. When placed inside the body, artificial joints are known as prostheses. They are made from ceramics, alloy, or other materials such as biomaterials. Artificial joints are commonly used for knee, hip, shoulder, and other small joints such as wrist and elbow. The increasing incidence of arthritis and the growth of the aging population have driven the growth of the global artificial joints market.
Technavio’s analysts forecast the global artificial joints market to grow at a CAGR of 5.53% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global artificial joints market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Artificial Joints Market 2017-2021
Technavio recognizes the following companies as the key players in the global artificial joints market: DePuy Synthes, Smith & Nephew, Stryker, and Zimmer Biomet.
Other Prominent Vendors in the market are: Arthrex, Acumed, Aesculap Implant Systems, AK Medical, BioPro, DJO Surgical, Extremity Medical, Integra LifeSciences, JRI Orthopaedics, Lima Corporate (acquired by EQT VII), Medtronic, Orthofix, and Wright Medical.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing demand for MI surgeries. The demand for MI surgeries has been increasing across the world. MI surgeries reduce physical trauma and the risk of infections. This enables patients to recover faster. MI surgeries involve short hospital stay, improve comfort, and enable the early return to work.”
According to the report, one driver in the market is increasing incidence of age-related musculoskeletal disorders. Musculoskeletal disorders have been the most common disorder that affects the aging population. The most frequent musculoskeletal disorders among the aging population have been osteoporosis, osteoarthritis, fractures, and infections. With aging, musculoskeletal tissues become fragile, loose cartilage resilience, have reduced ligament elasticity, and loose of muscular strength, which reduce the ability of tissues to perform normal functions.
Further, the report states that one challenge in the market is high cost of surgeries. The high cost of joint surgeries can affect the growth of the global artificial joints market. Due to technological advances, the cost of artificial joints and related procedures has been increasing. For instance, in the US, hip replacement surgery costs between $40,000 and $42,000 and knee replacement surgery costs between $33,000 and $35,000. The increasing cost of joint replacement surgeries has forced people to opt for other alternative treatments such as medication, exercise, and injections.
DePuy Synthes, Smith & Nephew, Stryker, Zimmer Biomet, Arthrex, Acumed, Aesculap Implant Systems, AK Medical, BioPro, DJO Surgical, Extremity Medical, Integra LifeSciences, JRI Orthopaedics, Lima Corporate (acquired by EQT VII), Medtronic, Orthofix, and Wright Medical.