Artificial Joints Market By Type (Cemented artificial joints, Non-cemented artificial joints), By Application (Artificial knee joints, Artificial hip joints, Others), By Material (Ceramics, Alloy, Others), By End user (Hospitals, Other): Global Opportunit

Artificial Joints Market By Type (Cemented artificial joints, Non-cemented artificial joints), By Application (Artificial knee joints, Artificial hip joints, Others), By Material (Ceramics, Alloy, Others), By End user (Hospitals, Other): Global Opportunity Analysis and Industry Forecast, 2023-2032

The Artificial Joints Market was valued for $20,235.51 million in 2022 and is estimated to reach $31,748.12 million by 2032, exhibiting a CAGR of 4.6% from 2023 to 2032.

Artificial joints, also known as prosthetic joints or joint replacement, is a medical device designed to replace damaged or diseased joints in the human body. These joints are primarily used to restore joint function and relieve pain in individuals with conditions, such as arthritis, joint degeneration, or joint injuries. Artificial joints are typically composed of a combination of metal alloys, high-density plastics, and ceramic materials. The design and composition of artificial joints vary depending on the specific joint being replaced, such as hip, knee, shoulder, or elbow.

The artificial joints market growth is driven by high presence of market players who manufacture artificial joints and increase in prevalence of orthopedic diseases. In addition, an artificial joint (called a prosthesis) is used in various types of arthritis, such as osteoarthritis, or degenerative joint disease. Thus, rise in prevalence of orthopedic diseases and increase in prevalence of osteoarthritis are anticipated to drive the growth of the market. For instance, according to Center for Disease Control and Prevention (CDC), in 2021, about 23.7% of adults were diagnosed with arthritis in the U.S. Arthritis is more common in women (23.5%) as compared to men (18.1%).

In addition, increase in prevalence of obesity, modern sedentary lifestyles, long hours of sitting, lack of physical activity, and injuries to the joints, such as sports-related injuries, repetitive stress injuries, or accidents, can increase the risk of developing osteoarthritis. Thus, this factor is anticipated to drive the demand for surgical treatment and usage of artificial joints, which fuels the growth of the market.

Geriatric population is more susceptible to osteoarthritis. Thus, increase in the number of geriatric populations is expected to witness growth in prevalence of  osteoarthritis. Therefore, this is expected to increase the number of surgical interventions, increase the demand for artificial joints and boost the growth of the market. According to World Health Organization, (WHO), population aged 60 years and over were expected to increase from 1 billion in 2020 to 1.4 billion in 2022 globally. By 2050, the global population of people aged 60 years and older is expected to double . The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.

On the other hand, side effects associated with artificial joints and surgical procedures related to joint degeneration are anticipated to hamper the growth of the market. Moreover, high cost of surgical procedure and availability of substitutional option such as exercise are expected to restrain the growth of the market. For instance, side effects of surgery such as nerve or blood vessel damage, infection, blood clots, implant problems, pain and stiffness, allergic reaction and others is anticipated to hamper the growth of the market.

However, increase in demand for medical services in the developed countries such as U.S., Canada, and Germany and growth opportunities in emerging markets are expected to create immense opportunities for the artificial joints market during the forecast period.

The artificial joints market is segmented on the basis of type, application, material, end user, and region. On the basis of type, the market is bifurcated into cemented artificial joints and non-cemented artificial joints. On the basis of application, the market is divided into artificial knee joints, artificial hip joints, and others. Others includes shoulder artificial joint and ankle artificial joint. On the basis of material, the market is segmented into ceramics, alloy, and others. Others includes high-density plastics and oxinium. On the basis of end user, the market is bifurcated into hospitals and Others.

Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Major key players that operate in the global artificial joints market are Zimmer Biomet, Smith & Nephew, Stryker Corporation, DePuy Synthes, B. Braun, Aesculap, Medtronic, Medacta International, Exactech, and MicroPort Orthopedics Inc. Key players operating in the market have adopted product approval, product launch, acquisition, and agreement as their key strategies to expand the artificial joints market share.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the artificial joints market analysis from 2022 to 2032 to identify the prevailing artificial joints market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the artificial joints market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global artificial joints market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Cemented artificial joints
Non-cemented artificial joints

By End user

Hospitals
Other

By Application

Artificial knee joints
Artificial hip joints
Others

By Material

Ceramics
Alloy
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
B. Braun Melsungen AG
Conformis Inc.
Exactech
Johnson and Johnson (DePuy Synthes)
Medacta International SA
Medtronic plc
MicroPort Orthopedics Inc
Smith & Nephew plc
Stryker Corporation.
Zimmer Biomet Holding Inc.

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