Orthopedic Joint Replacement Market Trends and Forecast
The future of the global orthopedic joint replacement market looks promising with opportunities in the hospital, ambulatory surgical center, and orthopedic clinic markets. The global orthopedic joint replacement market is expected to reach an estimated $25.7 billion by 2030 with a CAGR of 4.8% from 2024 to 2030. The major drivers for this market are rising prevalence of osteoarthritis, growing adoption of computer-assisted surgery systems, and increasing demand for biodegradable implants.
• Lucintel forecasts that knee is expected to witness the highest growth over the forecast period.
• Within this market, hospital is expected to witness the highest growth.
• North America is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Orthopedic Joint Replacement Market
• United States: In the US, companies like Johnson & Johnson and Stryker Corporation are focusing on advancing implant technologies and surgical techniques for joint replacements. Recently, Johnson & Johnson announced the launch of their new knee replacement system designed to improve patient outcomes through enhanced durability and reduced recovery times. The US government has initiatives aimed at improving access to joint replacement surgeries through Medicare and Medicaid reimbursements, ensuring broader coverage for patients.
• Germany: Germany remains a hub for orthopedic innovation with companies such as Zimmer Biomet and Merete Medical GmbH leading advancements in joint replacement technologies. Zimmer Biomet has introduced robotic-assisted surgical systems that offer precise implant placement, reducing surgical complications and improving recovery outcomes. Government targets include enhancing healthcare infrastructure to accommodate an aging populationÄX%$%Xs increasing demand for joint replacements, ensuring timely access and quality care.
• China: ChinaÄX%$%Xs orthopedic joint replacement market is expanding rapidly with local manufacturers like MicroPort Scientific Corporation and Stryker (China) Ltd. investing in research and development of customized implants and minimally invasive surgical techniques. The Chinese government has set targets to improve healthcare access in rural areas and support the development of domestic orthopedic technologies, aiming to reduce reliance on imported products.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Orthopedic Joint Replacement Market by Segment
The study includes a forecast for the global orthopedic joint replacement market by product type, procedure type, end use, and region.
Orthopedic Joint Replacement Market by Product Type [Value from 2018 to 2030]:
• Knee
• Hip
• Shoulder
• Ankle
• Others
Orthopedic Joint Replacement Market by Procedure Type [Value from 2018 to 2030]:
• Total Replacement
• Partial Replacement
• Others
Orthopedic Joint Replacement Market by End Use [Value from 2018 to 2030]:
• Hospital
• Ambulatory Surgical Centers
• Orthopedic Clinic
• Others
Orthopedic Joint Replacement Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Orthopedic Joint Replacement Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies orthopedic joint replacement companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the orthopedic joint replacement companies profiled in this report include-
• Stryker
• Johnson & Johnson Services
• Smith Nephew
• Zimmer Biomet
• Integra LifeSciences
Recent Development in the Orthopedic Joint Replacement Market
• Johnson & Johnson (DePuy Synthes): Johnson & JohnsonÄX%$%Xs subsidiary, DePuy Synthes, has introduced the ATTUNE® Knee System, which incorporates the latest advancements in implant design and surgical techniques. The system aims to improve stability and patient satisfaction post-surgery by addressing issues such as implant loosening and wear. Recent enhancements include updates to the implantÄX%$%Xs tibial base and improved instrumentation for better surgical precision, enhancing outcomes for knee replacement patients.
• Zimmer Biomet: Zimmer Biomet has focused on enhancing its robotic-assisted surgical systems for joint replacements. The ROSA® Knee System integrates advanced robotics to assist surgeons in precise implant positioning and alignment during knee replacement surgeries. This technology aims to improve the accuracy of procedures, reduce surgical time, and optimize patient recovery. Zimmer Biomet continues to expand the application of robotic-assisted technology across various orthopedic procedures, aiming to set new standards in surgical precision and patient care.
• Stryker Corporation: Stryker Corporation has been at the forefront of innovation with its Mako Robotic-Arm Assisted Surgery System. This system enables surgeons to create personalized surgical plans based on each patientÄX%$%Xs anatomy, enhancing the accuracy of implant placement and optimizing joint function post-surgery. Stryker has expanded the use of its Mako system beyond knee replacements to include hip and partial knee replacements, demonstrating a commitment to advancing robotic technology in orthopedic surgery for improved patient outcomes.
Features of the Global Orthopedic Joint Replacement Market
Market Size Estimates: Orthopedic joint replacement market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Orthopedic joint replacement market size by product type, procedure type, end use, and region in terms of value ($B).
Regional Analysis: Orthopedic joint replacement market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product types, procedure types, end uses, and regions for the orthopedic joint replacement market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the orthopedic joint replacement market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the orthopedic joint replacement market size?
Answer: The global orthopedic joint replacement market is expected to reach an estimated $25.7 billion by 2030.
Q2. What is the growth forecast for orthopedic joint replacement market?
Answer: The global orthopedic joint replacement market is expected to grow with a CAGR of 4.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the orthopedic joint replacement market?
Answer: The major drivers for this market are rising prevalence of osteoarthritis, growing adoption of computer-assisted surgery systems, and increasing demand for biodegradable implants.
Q4. What are the major segments for orthopedic joint replacement market?
Answer: The future of the orthopedic joint replacement market looks promising with opportunities in the hospital, ambulatory surgical center, and orthopedic clinic markets.
Q5. Who are the key orthopedic joint replacement market companies?
Answer: Some of the key orthopedic joint replacement companies are as follows:
• Stryker
• Johnson & Johnson Services
• Smith Nephew
• Zimmer Biomet
• Integra LifeSciences
Q6. Which orthopedic joint replacement market segment will be the largest in future?
Answer: Lucintel forecasts that knee is expected to witness the highest growth over the forecast period.
Q7. In orthopedic joint replacement market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the orthopedic joint replacement market by product type (knee, hip, shoulder, ankle, and others), procedure type (total replacement, partial replacement, and others), end use (hospital, ambulatory surgical centers, orthopedic clinic, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Orthopedic Joint Replacement Market Market, Orthopedic Joint Replacement Market Market Size, Orthopedic Joint Replacement Market Market Growth, Orthopedic Joint Replacement Market Market Analysis, Orthopedic Joint Replacement Market Market Report, Orthopedic Joint Replacement Market Market Share, Orthopedic Joint Replacement Market Market Trends, Orthopedic Joint Replacement Market Market Forecast, Orthopedic Joint Replacement Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.