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The digit joint implants market is estimated to grow at a CAGR of 7.49% between 2022 and 2027. The size of the market is forecast to increase by USD 60.48 million. The growth of the market depends on serval factors, including increasing incidence of osteoarthritis (OA), growing number of hand and foot injuries, and rising initiatives and awareness on digit joint implants.
This report extensively covers market segmentation by product (MCP and PIP joint implants, trapeziometacarpal joint implants, toe implants, and others), type (foot and hands), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The report categorizes the global digit joint implants market as a part of the global healthcare equipment market. The parent, global healthcare equipment market covers products and companies engaged in research and development (R&D) of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The increasing incidence of osteoarthritis is notably driving the market growth, although factors such as complications associated with the use of digit joint implants may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Digit Joint Implants Market Driver
The increasing incidence of osteoarthritis is notably driving the orthopedic digit implants market growth. Osteoarthritis is a common joint disorder, and more than 10% of the global population has been diagnosed with this degenerative disease of the joints. The rising incidence of risk factors for osteoarthritis, such as aging and obesity, is directly contributing to the increasing prevalence of osteoarthritis in both developed as well as developing regions.
Aging leads to an imbalance between the catabolic as well as anabolic activity in the joints, which may result in the degeneration/disintegration of the cartilage lining the joints. In addition, aging leads to a decrease in muscle mass and an increase in the amount of fat in the body, thereby leading to increased pressure on weight-bearing or load-bearing joints (joint loading), which can progress to osteoarthritis. Therefore, the prevalence of osteoarthritis is expected to drive the growth of the global digit joint implant market during the forecast period.
Significant Digit Joint Implants Market Trend
The availability of custom digit joint implants is the key trend in the orthopedic digit implants market. The advantage of custom digit joint implants is that they provide optimal bone preservation with a more aesthetic (natural) appearance. Hence, manufacturers focus on the development of custom digit joint implants to improve patient care. Toe HemiCAP Implants, offered by Arthrosurface, is a custom-fit implant that is made to match the contour and shape of a patient joint surface. This implant is used to relieve toe pain in patients with hallux rigidus.
Researchers are focusing further on performing clinical trials of 3D-printed digit joint implants. The University of Hong Kong and the Productivity Council are performing clinical trials on manufacturing finger-joint implants based on 3D-printed plastic models using different metals to reduce implant import rates from the US. Hence, the availability of customized products is driving the growth of the orthopedic digit implants market during the forecast period.
Major Digit Joint Implants Market Challenge
Complications associated with the use of digit joint implants are the major challenge impeding the orthopedic digit implants market growth. The complications associated with the use of digit joint implants are infection, implant breakage, stiffness, periprosthetic cyst formation, malignant lymphoma, pain, joint stiffness, and damage to blood vessels and connective tissues. Moreover, allergic reactions, osteolysis, the deposition of metal debris, bone erosion, silicone synovitis, embolism, and fibrous ankyloses are among the risks associated with digit joint implants.
A few device-related complications associated with the use of digit joint implants are breakage, dislocation, alignment deformities, loosening, fracture, migration, and early implant failure. Due to these complications, revision surgeries are required. Therefore, the complications associated with the use of digit joint implants hinder the overall market growth during the forecast period.
Key Digit Joint Implants Market Customer Landscape
The report includes the adoption lifecycle of the orthopedic digit implants market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Digit Joint Implants Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the orthopedic digit implants market.
Teijin Ltd. - The company operates under one segment. The company offers digital joint implants such as Align, IJS Elbow, Protean, Proximal ulna plate, and Reduct as its key offerings. The company offers medical and pharmaceutical equipment with aramid, resin, plastic products, and carbon fibers.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the MCP and PIP joint implants segment will be significant during the forecast period. MCP and PIP joint implants are flexible intramedullary one-piece implants used during arthroplasty surgery to restore the function of a finger joint. These implants are fabricated with materials that help in the correction or replacement of MCP and PIP joints by the encapsulation process, such as cobalt chrome, silicon, titanium, polyethylene, and pyrocarbon.
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The MCP and PIP joint implants segment was valued at USD 59.02 million in 2017 and continued to grow until 2021. MCP and PIP joint implants are recommended for OA and RA patients with damaged or diseased ligaments by orthopedic surgeons. MCP and PIP joint implants act as dynamic spacers to maintain the internal alignment and spacing between the reconstructed joints for preserving bone structures and, thereby, provide improved joint stability without the requirement of permanent fixation of the implant. Hence, the above-mentioned factors are expected to drive the growth of the MCP and PIP joint implants segment in the market during the forecast period.
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North America is estimated to contribute 40% to the growth of the global orthopedic digit implants market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The digit joint implants market in North America is driven by the well-equipped and established healthcare infrastructure, the availability of highly-skilled professionals, and the presence of extensive healthcare insurance coverage. The US is the major contributor to the North American market, owing to the high popularity of minimally invasive surgery (MIS), high adoption of technologically advanced products, and growing healthcare expenditure on orthopedic procedures.
In addition, the growing geriatric population, increasing prevalence of osteoarthritis (OA) and rheumatoid arthritis (RA), and demand for biodegradable digit joint implants are contributing to market growth in the US. In the US, the prevalence and burden rate of OA is high among people with diabetes and obesity. According to the American Academy of Orthopedic Surgeons, by 2030, total knee replacement surgeries are projected to grow 673% to 3.5 million procedures per year. This high projected number is indicative of the likely market growth during the forecast period.
The outbreak of the COVID-19 pandemic slowed down growth in the regional digit joint implant market in 2020. However, the situation is expected to stabilize during the forecast period due to the gradual containment of the pandemic, which has led to the lifting of lockdowns and the resumption of manufacturing of digit joint implants in North America. Moreover, hospitals in the region have resumed different types of orthopedic surgeries, which is fueling the need for digit joint implants in the region during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Digit Joint Implants Market Scope |
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Report Coverage |
Details |
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Page number |
160 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.49% |
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Market growth 2023-2027 |
USD 60.48 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.26 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 40% |
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Key countries |
US, Canada, Germany, France, and Japan |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3S Ortho, Acumed LLC, Anika Therapeutics Inc., BioPro Inc., Charms, EVOLUTIS SAS, Integra Lifesciences Holdings Corp., KeriMedical SA, Lepine Group, Loci Orthopaedics Ltd., MatOrtho Ltd., Ortotech ApS, Skeletal Dynamics LLC, Stryker Corp., Teijin Ltd., Orthopaedic Implant Co., Willis Knighton Health System, Zimmer Biomet Holdings Inc., BEZNOSKA Sro, Johnson and Johnson, and Vilex LLC |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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