Joint Reconstruction Devices Market - By Joint (Knee Replacement {Product, Component}, Hip Replacement, Shoulder Replacement, Ankle Replacement), By Region & Global Forecast, 2023 - 2032

Joint Reconstruction Devices Market - By Joint (Knee Replacement {Product, Component}, Hip Replacement, Shoulder Replacement, Ankle Replacement), By Region & Global Forecast, 2023 - 2032

Global Joint Reconstruction Devices Market is set to grow substantially through 2032 owing to the surge joint reconstruction surgeries which is in turn boosting demand for effective joint reconstruction implants.

The growing geriatric population in Germany requires joint replacement surgery operations to improve their quality of life. The region's high-pitched rate of growth is accountable for the increased surgical output, particularly for hip and knee replacements.

The joint reconstruction devices industry is further projected to expand as orthopedic injuries and musculoskeletal conditions become more common. In addition, leading market players are looking to expand their product portfolio through various partnerships and acquisition opportunities in the overseas market.

For instance, in March 2021, Meril Healthcare and Curexo, Inc. partnered to develop the CUVIS Joint, a dynamic robotic knee replacement technology. Through this partnership, both the companies will be able to reach a larger customer base and surpass its rivals in terms of revenue and share.

The joint reconstruction devices market has been divided in terms of joint and region.

Based on joint, the ankle replacement segment is expected to witness sizable growth over the review period. Major design innovations that outperform traditional systems in terms of affordability, efficiency, and benefits would benefit the segment expansion. Also, with the rise in ankle problems such as pain and fractures and demand for ankle joint reconstruction devices is projected to rise significantly, impelling the market growth. As per various studies, foot pain is highly prevalent in the general population, with the prevalence ranging from 9% to 30%.

From the regional perspective, the Asia Pacific joint reconstruction devices market held more than USD 3.3 billion market share in 2022. The regional market growth is due to an increase in the prevalence of joint injuries and traumatic experiences. Moreover, a surge in the number of joint reconstruction surgeries is set to push device adoption and increase life expectancy. The region's growing disease-prone population is presenting significant opportunities for commercial expansion.

Also, high incidence of orthopedic diseases in the APAC region can present lucrative opportunities for implants. According to the National Centers for Biotechnology Information, 822,000 individuals in Japan were estimated to have rheumatoid arthritis in 2020. As a result, the rate of joint reconstruction surgeries is increasing noticeably, contributing to the overall market growth.