Artificial Joints Market SWOT Analysis by Key Players- Medtronic, Stryker, Smith & Nephew
Published Via 11Press : According to HTF MI, the Artificial Joints Market is expected to see a growth rate of 5.9% and may see a market size of USD 28649.40 Million by 2028.
Artificial Joints Industry Background: Artificial joints are prosthetic joints constructed of various materials, such as plastic, ceramic, or metal, and are used to replace damaged or ailing joints. The artificial joint market in North America is dominated. While the Asia Pacific region is anticipated to develop at the highest rate during the anticipated timeframe. The aging population and rising prevalence of orthopedic problems are the two main drivers driving the artificial joint market. The exorbitant expense of procedures for artificial joints and complications from implants, however, pose a barrier to the business. Because of the enormous opportunity afforded by growth in emerging markets and the increased demand for minimally invasive procedures, the market is predicted to continue its upward trend.
| Attributes | Details |
| Study Period | 2018-2028 |
| Base Year | 2022 |
| Forecast Period | 2022-2028 |
| Volume Unit | K Units |
| Market Forecast Values | USD 28649.40 (Million) |
| Customization in Scope | Get customization with the purchase of an Artificial Joints Market study. Add or modify country, region & or get a further breakdown in segments in the final deliverable subject to feasibility |
| CAGR
|
5.9% |
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Major Companies Profiled in This Report
- Johnson & Johnson (United States)
- Stryker Corporation (United States)
- Zimmer Biomet Holdings, Inc. (United States)
- Medtronic plc (Ireland)
- Smith & Nephew plc (United Kingdom)
- DePuy Synthes Companies (United States)
- NuVasive, Inc. (United States)
- Wright Medical Group N.V. (Netherlands)
- DJO Global, Inc. (United States)
- MicroPort Scientific Corporation (China)
- Aesculap AG (Germany)
- Conformis, Inc. (United States)
Artificial Joints Market Key Business Segments
By Type
- Hip Joints
- Knee Joints
- Shoulder Joints
- Elbow Joints
- Other
By Application
- Hospitals Ambulatory
- Surgical Centers
- Orthopedic Clinics
- Others
By Material
- Metal-on-Polyethylene
- Ceramic-on-Polyethylene
- Ceramic-on-Ceramic
- Others
Market Growth Drivers:
- The main factors driving the expansion of the artificial joint market are the aging population and the rising prevalence of orthopedic illnesses.
- One of the key factors driving the market for artificial joints is the growing elderly population in the world. Age-related increases in the frequency of joint-related diseases including osteoarthritis and rheumatoid arthritis necessitate joint replacement surgery.
- Orthopedic conditions are becoming more common, including joint deterioration, sports injuries, and trauma.
- As a result, there is now a greater need for artificial joints to help affected people regain their mobility and improve the quality of their lives.
Restraints:
- Artificial joint market growth is being hampered by the high cost of surgical procedures for artificial joints and consequences from implant-related problems.
- The price of artificial joint surgery, including the cost of the implants, the surgery, the hospital stay, and the post-operative care, can be high. In developing countries or for those without proper insurance, this high cost may make certain procedures less accessible.
- The risks of problems, such as implant loosening, infection, wear and tear, dislocation, and allergic reactions to implant materials, have not decreased despite advancements in artificial joint replacements over time.
- Some patients and healthcare professionals may embrace the treatment cautiously as a result of these consequences because they may call for additional operations and affect patient results.
Opportunities:
- The Artificial Joints market has a lot of room to grow, especially in emerging economies in Asia-Pacific and Latin America. The market is expanding as a result of these regions’ quick economic development, rising healthcare costs, and bettering healthcare infrastructure.
- The number of people who are candidates for artificial joint surgery is expanding due to the middle class’s expansion and increased knowledge of joint problems. In joint replacement treatments, there is an increasing need for minimally invasive surgical methods.
- The advantages of minimally invasive techniques include smaller incisions, less tissue damage, shorter hospital stays, and quicker healing times. Market expansion potential arise from the development of specialized tools and procedures for minimally invasive joint surgery.
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Frequently Asked Question
Q1: What is the current market size for the Artificial Joints Market?
A: According to HTF MI, the Artificial Joints is expected to reach USD 28649.40Million by 2028, growing at a CAGR of 5.9% during the forecast period.
Q2: What are the key segments of the Artificial Joints Market?
A: The Artificial Joints Market can be segmented based on Offering by Application (Hospitals, Ambulatory Surgical Centers, Orthopedic Clinics, Others) by Type (Hip Joints, Knee Joints, Shoulder Joints, Elbow Joints, Other) by Material (Metal-on-Polyethylene, Ceramic-on-Polyethylene, Ceramic-on-Ceramic, Others) by Distribution Channel (Direct Sales, Distributor Sales) and by Geography (North America, South America, Europe, Asia
Q3: Who are the key players in the Artificial Joints Market?
A: Some of the key players in the Artificial Joints Market include Johnson & Johnson (United States), Stryker Corporation (United States), Zimmer Biomet Holdings, Inc. (United States), Medtronic plc (Ireland), Smith & Nephew plc (United Kingdom), DePuy Synthes Companies (United States), NuVasive, Inc. (United States), Wright Medical Group N.V. (Netherlands), DJO Global, Inc. (United States), MicroPort Scientific Corporation (China), Aesculap AG (Germany), Conformis, Inc. (United States)
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Phone: +1 434 322 0091
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