Global Artificial Joints Market – Segmentation Analysis and Forecast by Technavio

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LONDON–The latest market research report by Technavio on the global artificial joints market predicts a CAGR of close to 6% during the period 2017-2021.

The report segments the global artificial joints market by application (knee, hip, shoulders, and others), by product (ceramics, alloys, and others), by end-user (hospitals and ASC’s), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global artificial joints market, according to Technavio healthcare and life sciences researchers:

  • Increasing incidence of age-related musculoskeletal disorders: a major market driver
  • The artificial joints for knee segment is expected to grow at a CAGR of close to 6% through 2021
  • The Americas dominated the global artificial joints market in 2016, and the market was valued at USD 9.26 billion
  • DePuy Synthes, Smith & Nephew, Stryker, and Zimmer Biomet are the major players

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Market growth analysis

One of the key drivers of the global artificial joints market is the increasing incidence of age-related musculoskeletal disorders. Musculoskeletal disorders have been the most common disorder that affects the aging population and the frequent among these that are witnessed in the aging population are osteoporosis, osteoarthritis, fractures, and infections. With aging, musculoskeletal tissues become fragile, loose cartilage resilience, have reduced ligament elasticity, and loss of muscular strength. This reduces the ability of tissues to perform normal functions. Arthropathies and fractures can cause loss of mobility and physical independence.

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Geographical analysis

According to Technavio researchers, the artificial joints market in the Americas will grow during the forecast period. This will be because of the increasing prevalence of arthritis and obesity and the growth of the aging population. According to the Centers for Disease Control and Prevention (CDC), between 2013 and 2015, 54.4 million adults were diagnosed with arthritis in the US. By 2040, approximately 78 million adults in the US above the age of 18 are projected to have doctor-diagnosed arthritis. The growing occurrence of osteoarthritis, rheumatoid arthritis, bone fractures, gout, and other bone and joint-related disorders will drive the growth of the market in the region.

According to Neha Noopur, a lead analyst at Technavio for research on orthopedics and medical devices, “There are several developed countries such as Canada, Mexico, and the US in the Americas that have developed healthcare infrastructure. Therefore, people have access to high-quality healthcare. The adoption of technologically advanced products has increased in the region because of the high spending capacity of people. Hence, vendors are focusing on launching new, technologically advanced products in the region to increase their market share.”

Competitive vendor landscape

The global artificial joints market is concentrated because four key vendors, DePuy Synthes, Smith & Nephew, Stryker, and Zimmer Biomet, hold a major share of the market. Other vendors are confined to a region and offer a limited range of products. The key vendors are focusing on increasing their global footprint, and hence, they are expanding into developing countries through acquisitions or partnerships with regional vendors. The key vendors also operate subsidiaries to improve their product portfolio and market presence.

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Maria Burns

Maria Burns

Maria is a Viral News Editor who graduated from the University Of California. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.
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