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The Global Endoprosthesis Market size is estimated to grow by USD 18.24 billion at a CAGR of 11.55% between 2022 and 2027. Several public and private organizations and implant manufacturers are undertaking initiatives to raise awareness among the public and surgical professionals about osteoarthritis and rheumatoid arthritis and the available treatment, thereby enhancing the skills of surgeons who perform arthroplasty surgery.
Some of these initiatives include conducting awareness and advertising campaigns and workshops. For instance, the Arthritis Foundation (US) is a non-profit organization that offers information and makes the public aware of the available advanced treatment options such as joint replacement like hip and knee shoulder using implants, for osteoarthritis and rheumatoid arthritis patients. Hence, such awareness initiatives are expected to positively impact the market growth. This market research and growth report also includes an in-depth analysis of drivers, trends, and challenges.
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The knee segment is estimated to witness significant growth during the forecast period. Factors such as the rising number of aging people across the world are significantly contributing to the growth of the knee segment, which will increase the segment growth during the forecast period.
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The knee segment was the largest segment and was valued at USD 7.71 billion in 2017. Factors such as the growing prevalence of orthopedic diseases, the increasing number of healthcare facilities, the increasing number of knee replacement surgeries, and the growing focus on robotic knee implantation surgeries are expected to significantly contribute to the growth of the knee segment. There is a growing prevalence of severe knee osteoarthritis. For example, as per Versus Arthritis, 10 million people in the UK have osteoarthritis, and an estimated 5.4 million people are suffering from knee osteoarthritis. Hence, such factors are expected to drive the growth of this segment which, in turn, will drive the global market growth during the forecast period.
The rising occurrence of workplace injuries necessitating hip repairs has contributed to the significant revenue generated by the hip segment of the global market. Hip fractures are most common among the geriatric population, particularly postmenopausal women with osteoporosis. With the global geriatric population growing rapidly and the average life expectancy increasing, it is projected that by 2030, 1 in 6 people worldwide will be aged 60 years or over, as reported by WHO. Surgical repairs such as external fixators, pinning, plates, and screws are commonly used to treat fractures, and in severe cases, total joint replacement may be necessary.
Hospitals are considered one of the major end-users where various surgeries are performed, in which endoprosthesis implants are used. These hospitals encompass multi-specialty hospitals, private hospitals, and hospital groups collaborating with both government and private entities. Additionally, mid-sized and small hospitals with limited supplier groups also fall within this category. The segment is expected to witness growth due to increased investments in healthcare infrastructure. Developing countries like India have seen a significant rise in the number of hospitals, supported by government initiatives to enhance infrastructure. This has led to a surge in joint replacement surgeries, including hip, knee, shoulder, and other procedures.
Patients' preference for private clinics and specialty clinics, driven by affordability and convenience in terms of appointments, has resulted in an increase in minor surgeries involving finger/hand and foot implants being performed at these centers. In the US, outpatient visits reached USD 125.7 million, and visits to physicians' offices amounted to USD 928.6 million in 2020, according to the CDC report. This upward trend in clinic visits has prompted hospitals to collaborate and adopt new business models with these centers, transforming them into hospital-based providers. Physicians' clinics and private clinics are gaining prominence over hospitals due to their lower cost for minor surgeries and easy accessibility. These factors contribute to the growth of the clinics segment, thereby driving the overall market growth in the forecast period.
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North America is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. One of the main factors for the significant growth of the global endoprosthesis market in North America is the factors such as growing popularity of minimally invasive surgery (MIS), high adoption of technologically advanced products, and growing healthcare expenditure on orthopedic procedures. Furthermore, the rising geriatric population, growing prevalence of osteoarthritis and rheumatoid arthritis, and increasing endoprosthesis implant product launches by several vendors in the market are contributing to market growth in the region. For instance, as per the American Academy of Orthopedic Surgeons, by 2030, total knee replacement surgeries are estimated to grow 673% to 3.5 million procedures per year since 2018. Hence, such factors are expected to drive the growth of the global market growth during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. This market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Arthrex Inc: The company offers endoprosthesis products such as Knotless 1.8 FiberTak Soft anchor, ACL TightRope II Implant.
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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
The increasing prevalence of orthopedic diseases and associated risk factors are major factors driving the global market growth. There has been a growing case of several orthopedic diseases, such as arthritis and rheumatoid arthritis over the years. One of the key factors responsible for the increasing prevalence of orthopedic diseases is the growing prevalence of orthopedic diseases.
For instance, as per the CDC data, nearly 20% of the US population is likely to develop knee arthritis over the course of their lifetimes. Furthermore, the risk factors associated with knee osteoarthritis such as obesity, are also increasing, which in turn will drive the rising prevalence of knee osteoarthritis. Hence, such factors are expected to drive the global market growth during the forecast period.
The growing popularity of biodegradable joint implants is a major trend in the global market. Biodegradable joint implants are manufactured from biodegradable polymers, such as polyglycolic acid (PGA), polylactic acid (PLA), and poly-B-hydroxybutyrate (PHB), which dissimilate over time, and enhance the healing and regeneration of joint tissues. These implants are widely used to treat metaphyseal and periarticular fractures of joints.
One of the main advantages of Biodegradable joint implants is that they promote the regrowth of the bone and do not require revision surgery. For example, the world's first biodegradable small finger and toe joint implant made of polylactide copolymer is known as RegJoint. It is mainly embedded into the joint capsule to promote the regrowth of the injured joint tissues and relieve pain caused by friction between the bones in osteoarthritis and rheumatoid arthritis patients. Hence, such trends are expected to continue and drive the global market growth during the forecast period.
Complications associated with the use of endoprosthesis implants are a major challenge restraining the market growth. Some of the key complications associated with the use of endoprosthesis implants include infection, implant breakage, stiffness, periprosthetic cyst formation, malignant lymphoma, pain, joint stiffness, and damage to blood vessels and connective tissues.
Additionally, there are some risks associated with these implants as well such as, allergic reactions, osteolysis, the deposition of metal debris, bone erosion, silicone synovitis, embolism, and fibrous ankyloses. Hence, due to these complications, there is a declining preference for these implants among patients which in turn is expected to hinder the global market growth during the forecast period.
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The market report includes the adoption lifecycle of the 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 Endoprosthesis Market Customer Landscape
The Global Endoprosthesis Market is witnessing significant growth, driven by factors such as the increasing geriatric population and continuous technological advancements in the field. With a rising prevalence of orthopedic illnesses and peripheral vascular diseases, there's a growing need for prostheses to address these conditions. Both men and women are affected, particularly those with hip and knee osteoarthritis and symptomatic contract osteoarthritis.
Endoprosthesis devices utilize advanced biomaterials, including nanotechnology and biotechnology, for various clinical applications. Key drivers for the growth of the market include awareness among patients and healthcare service providers, supported by favorable reimbursement policies. However, challenges such as substandard performance and the severity of diseases underscore the importance of ongoing advancements in novel technologies and treatment methods to ensure optimal revenue generation and patient outcomes.
The market 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.
Endoprosthesis Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.55% |
Market growth 2023-2027 |
USD 18.24 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
10.53 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 47% |
Key countries |
US, Canada, Germany, France, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arthrex Inc., B.Braun SE, Becton Dickinson and Co., Blatchford Ltd., Boston Scientific Corp., Hanger Inc, Exactech Inc., Johnson and Johnson Services Inc., Limacorporate SpA, Medacta International SA, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corp., Ossur hf, Smith and Nephew plc, Stryker Corp., TIPSAN Tibbi Aletler San. ve Tic. A.S., Trulife, W. L. Gore and Associates Inc., Wright Medical Group NV, and Zimmer Biomet Holdings Inc. |
Market dynamics |
Parent market analysis, Market Growth and Trends Analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
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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 End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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