Modern-day joint replacement surgeries have been executed since the 1960s and ever since then, they have progressed immensely from basic surgical procedures to sophisticated and complete joint replacement procedures. Hips and Knees reconstructions are a kind of hip and knee implants. Hip implants are medical devices used for restoring and relieving mobility and pain related to arthritis or hip injury whereas Knee implants are intended to replace or restore damaged knee joints. Hip and knee reconstruction are performed to relieve pain and restore the functions of the hip and the knee.
The joint replacement industry is expected to grow rapidly in the near future and record a high success rate due to the increasing life expectancy of the people, surging innovative product launches along with advancements in medical technology. Also, rising incidences of orthopedic diseases such as Osteoarthritis and other musculoskeletal disorders leading to joint pain, stiffness, and inflammation are likely to contribute to the growth of the Hips and Knees Reconstructive Market.
The Global Hips & Knees Reconstructive Market is estimated to be USD 9.86 Bn in 2020 and is expected to reach USD 11.5 Bn by 2025, growing at a CAGR of 7.9%.
Orthopaedic disorders have been on a rise significantly in the last few years in developing countries. Hips & Knees reconstructive devices have gained popularity as their demand has increased rapidly over time, and it is expected to grow further owing to improvements in designs, effectiveness, and advantages over other conventional solutions presently available. The rapidly expanding geriatric population along with an increasing number of centenarians, which is estimated to reach around 4 million by 2050 across the globe will drive the demand for various joint replacement devices. Similarly, high life expectancy amongst the masses, especially in the emerging economies has resulted in more cases related to joint disorders; therefore, the demand and adoption rate for the joint reconstruction devices is likely to increase multi-folds, ultimately fueling the market growth.
The market is hampered due to the risks associated with hip replacement surgery, side effects from hip replacement surgery, such as blood clots, fracture, dislocation, and change in the length of the leg leading to a higher risk for market growth. Likewise, a high skepticism regarding worn-out knee implants causing pain, instability, swelling, and stiffness across the entire knee shall pose an additional risk to the market growth rate.
- Rapidly Increasing Aging Population Base
- Increasing Life Expectancy
- Significant Rise of Orthopaedic Disorders in Developing Countries
- Increase in the Adoption Rate of the Joint Reconstruction Devices
- Risks Associated with Hip Replacement Surgery
- Side Effects from Hip Replacement Surgery
- Scepticism Regarding Worn-Out Knee Implants that cause Pain, Instability, Swelling, etc.
- Increased Life Expectancy and Rising Geriatric Population in Emerging Economies
The total hip reconstruction implants segment has a maximum share in Global Hips & Knees Reconstructive Market by Product type. The rising pool of hip fractures, hip osteoarthritis, a favorable reimbursement scenario, and technological advancements are the major factors responsible for the growth of this market. Additionally, the growing health awareness among the masses, along with a rise in the disposable income of the population are propelling the market growth.
In terms of revenue share, the cementless fixation segment dominated the global hips & knees reconstructive market in 2020 and is expected to continue its dominance throughout the forecast period, registering a CAGR of 7.5% in terms of value. Cementless fixation type is expected to account for a major share throughout the forecast period due to high penetration among the patient population.
North America is anticipated to have a large market share and is expected to grow significantly during the forecast period. Countries in Europe and Asia are also expected to grow at a higher rate due to investments in new techniques, high healthcare expenditure, and growing awareness in the healthcare sector.
The Global Hips & Knees Reconstructive System Market is segmented based on Product Type, Fixation Type, End User and Geography.
Global Hips & Knees Reconstructive Market, By Product Type
- Total Hip Reconstruction Implants
- Partial Hip Reconstruction Implants
- Revision Implants
- Knee Reconstruction
Global Hips & Knees Reconstructive Market, By Fixation Type
Global Hips & Knees Reconstructive Market, By End User
- Orthopaedic Clinics
- Ambulatory Surgical Centers
Global Hips & Knees Reconstructive Market, By Geography
- North America
- South America
- Asia Pacific
- Middle East and Africa
Some of the companies covered in this report are Key players profiled in the report include Zimmer Biomet, DePuy Synthes, BIOLOX, Allina Health, Smith & Nephew plc., Lima corporate, Stryker, Micro Port Scientific Corporation. Braun, Conformis, CeramTec and ConforMIS, etc.
IGR Competitive Quadrant
The report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share etc.
- Lions: Represents companies with a strong foothold in the market, with the highest market share, large investments in technologies, new products.
- Bulls: Companies that are medium in size competing with their USPs, growing companies with proven market share.
- Rabbits: Small companies but growing rapidly, constantly improving their offerings in the market
- Tortoise: Companies which are slow in growth, having a long legacy and stable or negative in performance
Why buy this report?
- The report offers a comprehensive evaluation of the Global Hips & Knees Reconstructive Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys and observation of renowned personnel in the industry.
- The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
- The report also contains a competitive analysis using IGR Positioning Quadrants, a Proprietary competitive positioning tool.
- A complete analysis of the market including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
1.1 Study Objectives
1.2 Market Definition
1.4 Years Considered
1.6 Key Shareholders
2. Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study
3. Executive Summary
4. Market Overview
4.2 Market Dynamics
5. Market Analysis
5.1 Porter’s Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6. Global Hips & Knees Reconstructive Market, By Product Type
6.1 Total Hip Reconstruction Implants
6.2 Partial Hip Reconstruction Implants
6.3 Revision Implants
6.4 Knee Reconstruction
7. Global Hips & Knees Reconstructive Market, By Fixation Type
8. Global Hips & Knees Reconstructive Market, By End User
8.2 Orthopedic Clinics
8.3 Ambulatory Surgical Centers
9. Global Hips & Knees Reconstructive Market, By Geography
9.2 North America
9.3 South America
9.4.5 Rest of Europe
9.5.5 Rest of APAC
9.6 Middle East and Africa
10. Competitive Landscape
10.1 IGR Competitive Quadrant
10.2 Market Share Analysis
10.3 Competitive Scenario
10.3.1 Mergers & Acquisitions
10.3.2 Agreements, Collaborations, & Partnerships
10.3.3 New Product Launches & Enhancements
10.3.4 Investments & Fundings
11. Company Profiles
11.2 Zimmer Biomet
11.3 Smith & Nephew plc
11.4 DePuy Synthes
11.6 Braun Melsungen AG
11.7 Micro Port Scientific Corporation
11.9 Smith & Nephew plc.
11.10 Allina Health