The global endoprosthesis market size is worth US$ 26,196 Mn in 2022. The market is projected to witness a robust CAGR of 11% over the forecast period of 2022-2032 to arrive at a market valuation of US$ 74,381.47 Mn by 2032. The rapid growth of the market over the forthcoming years can be credited to the growing geriatric population, in addition to the technological advancements in endoprosthesis.
The market is predicted to grow over the forecast period owing to the increasing rate of incidence of orthopedic illnesses and peripheral vascular diseases. Additionally, the market is projected to be pushed forward by the growing patient knowledge pertaining to the usage of prostheses for orthopedic injuries. In addition to this, the rising frequency of hip and knee osteoarthritis among the geriatric population is anticipated to propel the growth of the global endoprosthesis market.
As per the U.N., the geriatric population aged 65 years and above is anticipated to represent 16% of the overall population by 2050. Thus, the growing geriatric population is expected to present growth prospects for the market over the stipulated time period. Additionally, the rising susceptibility of women to endoprosthesis is predicted to facilitate market development going forward. The market is further predicted to grow on account of rising symptomatic contract osteoarthritis, which affects 9.6% and 18% of men and women, respectively. The requirement of the endoprosthesis to treat such conditions is anticipated to rise as a consequence of these considerations.
Technological advancements to update the endoprosthesis devices for effective treatment and better results are predicted to boost market expansion. Biomaterials, which are used in orthopedic prostheses, are undergoing technological enhancement and have become a key area of research, innovation, and development in the healthcare field. Advances integrating forward-oriented technologies, such as nanotechnology and biotechnology, are widely available in scientific research, in addition to the patenting of novel orthopedic prostheses. The prospects of clinical applications of these latest biomaterials are promising, thus creating opportunities for the growth of the endoprosthesis market.
The endoprosthesis market is currently witnessing growth on account of new launches and product innovations. For instance, in September 2022, Zimmer Biomet Holdings, Inc., which is a leading provider of medical technology, announced that the U.S. F.D.A. has provided clearance to Identity™ Shoulder System for revision, anatomic and reverse shoulder replacement. The latest addition of the Identity Shoulder System to the company’s line of shoulder replacement systems, which is designed to assist surgeons in devising and implementing a patient-specific surgical plan with accuracy, is predicted to contribute to the positive endoprosthesis market outlook.
Earlier, Medacta International S.A. announced in April 2022 the successful completion of the first lumbar fusion procedure in the United States by using the M.U.S.T. Pedicle Screw System, in addition to NextAR Spine, which is a surgical application based on A.R. having intraoperative guidance for spine surgery, with the F.D.A. clearance and C.E. mark.
An endoprosthesis is an artificial device which replaces a missing body part such as lower and upper body extremities and other organs or parts of the body. It is a science which deals implantation of mechanical devices within human skeleton, peripheral vascular system, cardiovascular system and nervous systems, and other body parts to assist the motor control lost by any disease or disorder.
Prosthesis find its application as replace component in missing extremity, such as knee, femur, and wall stent endoprosthesis. Endoprosthesis needed for a variety of reasons, accidents, diseases and disorders, and congenital defects. Endoprosthesis market has huge potential in terms of revenue generation and it’s fuelled by growing demand for novel technologies and treatment methods.
| Attributes | Details |
|---|---|
| Endoprosthesis Market Value (2022) | US$ 26,196 Million |
| Endoprosthesis Market Forecast Value (2032) | US$ 74,381.47 Million |
| Endoprosthesis Market CAGR (2022 to 2032) | 11% |
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Technological advancements in endoprosthesis enables effective treatment, rising awareness for prosthetics in orthopedic injuries are fuelling the growth of end prosthesis market and is expected to exhibit a significant growth in near future.
Increasing prevalence of orthopedic disorders and peripheral vascular diseases is another major factor. Knee and hip osteoarthritis prevalence is increasing at rapid pace owing to increase in number of geriatric population.
Rising awareness among patients and healthcare service providers pertaining to advanced technologies, would provide long term opportunity to growth of endoprosthesis market. However, limited reimbursement policies in low and middle income countries and substandard performance of local product are the major bottlenecks of the market.
Globally, growing demand for endoprosthesis products such as total knee replacement prosthetics, total femur replacement prosthetics, peripheral vascular prosthetics has been estimated to represents significant growth in overall endoprosthesis market.
Increasing the severity of diseases witnessed to a robust market growth in forecasting period. The market is expected to exhibit to a significant CAGR and annual growth rates over the forecast period.
Principal Consultant
Depending upon the geographic regions endoprosthesis market is segmented into seven key regions: Those are North America, Latin America, and Eastern Europe, Western Europe, and Asia pacific excluding japan, Japan, Middle East and Africa.
North America witnessed for a high potential endoprosthesis market due to the increased awareness among the people towards advanced technologies. Asian-Pacific region expected to provide lucrative growth of endoprosthesis market due to rapidly evolving healthcare infrastructure, and favorable reimbursement policies in specific countries.
Key players in endoprosthesis market include Zimmer Biomet Holdings, Inc., Smith & Nephew Plc, Acumed, LLC, Stryker Corporation, Boston Scientific, Inc., Wright Medical Technology, Inc., and BARD Peripheral Vascular and others.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global endoprosthesis Market can be segmented into product types, end user and region:
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