The Business Research Company’s Joint Reconstruction Devices And Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, July 14, 2021 /EINPresswire.com/ — The global joint reconstruction devices and equipment market is expected to grow from $12.39 billion in 2020 to $16.94 billion in 2021 at a compound annual growth rate (CAGR) of 36.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The joint reconstruction devices market size is expected to reach $20.89 billion in 2025 at a CAGR of 5.4%.
The presence of a large pool of patients in joint reconstruction diseases is driving the market. Patients are preferring joint replacement treatment instead of other treatments for joint diseases because of increased safety and reliability. The rise in the joint reconstruction diseases such as osteoarthritis, knee and hip injury, road accident, cartilage and labral injury is increasing the patient pool. For instance, osteoarthritis is a common disorder of joint that mainly affects the geriatric population across the globe. This condition can be treated by joint replacement surgeries using orthopedic knee and hip implants surgery According to the Arthritis Foundation, about 67 million people are expected to suffer from arthritis by 2030. This rise in patient pool for joint diseases is driving the demand for the joint reconstruction devices and equipment market, significantly impacting market growth.
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Major players in the market are Smith & Nephew, Stryker, Zimmer Biomet, B. Braun Melsungen and Wright Medical Group.
The global joint reconstruction devices and equipment market is segmented by product type into knee reconstruction devices, hip reconstruction devices, extremity reconstruction devices, by application into arthrodesis, arthroscopy, joint replacement surgery, osteotomy, resurfacing surgery, small joint surgery, and by end user into hospitals, orthopedic clinics, ambulatory surgical centers.
Joint Reconstruction Devices And Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides joint reconstruction devices and equipment market overview, forecast joint reconstruction devices and equipment market size and growth for the whole market, joint reconstruction devices and equipment market segments, and geographies, joint reconstruction devices and equipment market trends, joint reconstruction devices and equipment market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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