Artificial Joints Market Overview:
Joint disease and related conditions result in the breakdown of cartilage and fluid between bones, which is necessary for smooth, painless and rapid joint movement. Degenerative disorders, such as osteoarthritis and stress-related conditions, lead to joint abnormalities, which in turn require surgery, arthroplasty. Joint replacement surgery is the medical procedure used to treat joints to ensure efficient and painless movement of interconnected bones. The procedure is performed primarily for large joints such as the hip, shoulder, elbow and knees. An ideal artificial joint is designed to withstand biocompatibility, wear, kinetic impact and antibacterial properties. Various materials are used such as ceramic (silica, zirconia, hydroxyapatite, titanium nitride, and silicon nitride), alloys (titanium and Chromium cobalt-based alloys), Oxinium, and polyethene (cross-linked polyethene and ultra-high molecular weight polyethene). However, the combination of materials such as metal on metal, metal on ceramic, ceramic on metal, metal on polyethene and ceramic on polyethene is widely used in the market.
The Artificial Joints Market was valued at USD XX million in 2017 and projected to reach USD XX million by 2021 growing at a CAGR of XX% during the forecast period 2017 to 2021.
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Drivers and restraints:
The increase in the geriatric population and the growth of the obese population are among the main factors attributable to the growth of the artificial joints market. Osteoarthritis is one of the most common musculoskeletal diseases in the elderly, which leads to a greater demand for joint replacement surgery. Technological advances, such as the development of new products with digital and robotic capabilities, can store critical data on limb movement, which can then be analyzed by the doctor. In addition, the development of joints with integrated circuits that can access and send the electrical impulses in the body, together with R & D initiatives related to the computerized access of the extremities to the neuronal impulses of the brain, resulting in the market boom for the next six years. The high prices associated with these devices should hinder the growth of the market.
North America became one of the largest income generating regions in the market due to the presence of developed health infrastructure, high spending on health care and ongoing R & D related to development. New digital and computerized implementations are key factors in its leadership. The Asia-Pacific region is expected to show promising growth during the forecast period due to untapped market opportunities and the continued development of healthcare infrastructure.
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Key Players of Artificial Joints Market:
The market for artificial limbs and joints is oligopolistic, with about five companies representing almost 90% of turnover. Zimmer, DePuy, Stryker, Smith & Nephew and Biomet are among the main players in the global market for artificial joints.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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