The global Hips & Knees Reconstructive Market size is expected to reach a valuation of USD 20.8 Billion by the end of 2022, and further expand at a CAGR of 5.6% from 2022 to 2032.
The market is estimated to reach a valuation of USD 35.8 Billion by the end of 2032. Knee reconstruction is leading the market in terms of product and it held a share of about 57.9% in 2021 in the global market.
One of the most economical and consistently successful orthopedic procedures is total hip arthroplasty (THA). It offers dependable results for people with advanced degenerative hip osteoarthritis. Pain relief, functional recovery, and improvement in quality of life are some of the associated outcomes.
Moreover, rising incidence of various orthopedic disorders such as osteoarthritis, carpal tunnel syndrome, ligament injuries, and lateral epicondylitis, especially among the geriatric population, is projected to drive the market.
As per the World Health Organization (WHO), nearly 1.71 billion people suffer from musculoskeletal conditions across the globe.
Besides, about 441 million people living in high-income countries are the most affected, followed by countries in the WHO Western Pacific region (427 million) and South-East Asia region (369 million).
These numbers are projected to surge at a rapid pace in the next decade with lack of exercises and rising adoption of a sedentary lifestyle, thereby pushing the global market.
| Attributes | Key Statistics |
|---|---|
| Hips & Knees Reconstructive Market Estimated Size (2022E) | USD 20.8 Billion |
| Projected Market Valuation (2032F) | USD 35.8 Billion |
| Value-based CAGR (2022 to 2032) | 5.6% |
| Collective Value Share: Top 5 Countries | 63.7% |
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The global market for hips & knees reconstructive held approximately 47.8% of the global orthopedic devices market, which was worth ~USD 40.9 Billion in 2021.
Sales of hips & knees reconstructive tools expanded at a CAGR of 5.8% from 2012 to 2021 owing to growing geriatric population and the associated prevalence of orthopedic ailments.
Prevalence of osteoarthritis is rising as a result of both increasing cases of obesity and an aging society. Increasing number of total hip/knee arthroplasty surgeries has significant effects on capacity and healthcare expenses. In order to get the best patient outcomes, it is crucial that patients are carefully selected.
These treatments also need to be performed at the optimal place and revision surgery is usually avoided to prevent unnecessary expenditures and less favorable results.
Severity of the patient's illness at the time of surgery, however, varies considerably. This can be partially explained by the patient's preferences, since some patients desire a total hip/knee arthroplasty to maintain an active lifestyle, while others ask for surgery to be able to carry out everyday tasks.
Over the past few decades, innovation in the field of surgical orthopedic, particularly joint replacement surgeries, has grown quickly. The number of joint replacement operations performed in developing countries such as India has increased dramatically during the past few years.
Numerous government programs for individuals in low-income groups and establishment of price capping have contributed to this surge in the market.
As a result, people who previously did not have access to joint replacement surgeries are now routinely obtaining operations. Thus, the market for hips & knees reconstructive is expected to witness growth at a CAGR of 5.6% during the forecast period from 2022 to 2032.
Modulation of Implant Surface Morphology
Improvements in implant design are often at the frontline of the development of prosthetic joints.
Modulation of the implant surface morphology and chemistry has however opened up a new direction in implant design with potential outcomes in light of the growing problem of prosthetic joint infection and the desire to further improve osseointegration.
While a variety of materials are utilized to make joint replacements, titanium has been the center of surface modification advancements. Topographical changes are made to promote bone-on-growth or ingrowth in an effort to enhance osseointegration.
These methods involve surface roughening procedures like grit blasting or plasma sprayed surface coatings and are centered on the microscale.
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One of the key factors impeding growth in the hips & knees reconstructive market is the increasing recall of knee replacement implants by the US Food and Drug Administration (FDA) owing to product flaws, material inconsistencies, or poor sterility concerns.
For instance, Zimmer Biomet recalled an unknown quantity of polyethylene orthopedic implants made for the knees, hips, and extremities in Europe between December 2016 and January 2017 due to the possibility for excessive endotoxin levels in July 2020.
Presence of Skilled Reconstructive Surgeons in the USA to Propel Growth
The USA dominates the North America hips & knees reconstructive market and held a total share of about 86.4% in 2021. It is expected to continue to experience the same growth rate throughout the forecast period, says FMI.
With the presence of an advanced infrastructure, as well as skilled medical professionals, the market for hips & knees reconstructive in the country holds a dominant position globally.
Presence of Independent Orthopedic Clinics to Push the Need for Total Knee Reconstruction in Germany
Germany held a share of about 3.9% in the global market for hips & knees reconstructive in 2021. The country is set to witness the entry of a large number of independent orthopedic settings, which is expected to create higher revenue across the country’s hips & knees reconstructive space.
Availability of Various Reconstruction Options in China to Augment Growth
China held approximately 3.3% of share in the global market in 2021. Increasing number of joint replacement surgeries across China owing to the ever-increasing population is projected to drive the market in the next decade.
Numerous domestic studies have shown that implants made in the nation are more frequently used than those that are made internationally. In the country, complete hip arthroplasty cases outnumber total knee replacement arthroplasty cases.
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Reconstructive Knee Replacement Surgery to Gain Traction by the End of 2032
By product, the knee reconstruction segment held a share of around 57.9% in the global hips & knees reconstructive market in 2021. With increasing prevalence of knee arthroplasty procedures, the knee reconstruction segment holds a dominant market share. As per FMI, the segment is set to expand at a CAGR of 5.8% over the forecast period.
Patients Are Choosing Cementless Complete Knee Reconstruction Fixations
By fixation, the cementless segment held the highest global hips & knees reconstructive market share of about 41.5% in 2021.
Advantages of cementless arthroplasty fixation in knees include improved component fixation that directly integrates the bone with an implant shield, genuine bone stock retention, enhanced surgical efficacy, and decreased risk of systemic side effects associated with cement impaction & debris wear.
These advantages are anticipated to propel growth in the cementless segment in the global market.
Hospitals to Extensively Utilize Hips Plastic Surgery Equipment and Tools
Based on end user, the hospitals segment held a revenue share of about 56.4% in 2021 in the global hips & knees reconstructive market.
Rising global rates of orthopedic surgical procedures propelled by ongoing advancements in technology, availability of skilled personnel, and growing geriatric population, are some of the major factors that are pushing growth of the hospitals segment in the hips & knees reconstructive market, globally.
Key players present in the global hips & knees reconstructive market are employing various strategies, including acquisitions & mergers, collaborations, research & development (R&D) activities, and new product launches to gain a competitive edge.
Meanwhile, some of the other key players are introducing new product lines into emerging markets to establish a dominant geographical position.
Some of the recent industry developments in the global market are:
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 20.8 Billion |
| Projected Market Valuation (2032) | USD 35.8 Billion |
| Value-based CAGR (2022 to 2032) | 5.6% |
| Forecast Period | 2012 to 2021 |
| Historical Data Available for | 2022 to 2032 |
| Market Analysis | Value (USD Billion) |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, UK, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Turkey, GCC Countries, North Africa, and South Africa |
| Key Market Segments Covered | Product, Fixation, End User, and Region |
| Key Companies Profiled | Zimmer Biomet; DePuy Synthes; Smith & Nephew plc.; Stryker; MicroPort Scientific Corporation; B. Braun Melsungen AG; Exactech, Inc.; Limacorporate S.p.a.; CeramTec; ConforMIS |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global hips & knees reconstructive market was valued at around USD 19.5 Billion in 2021.
The global hips & knees reconstructive market is set to witness a CAGR of 5.6% from 2022 to 2032 and to be valued at around USD 35.8 Billion by 2032.
The hips & knees reconstructive market exhibited growth at 5.8% CAGR from 2012 to 2021.
The USA, Canada, the UK., Japan, and Germany are set to dominate the hips & knees reconstructive market. They are currently holding 63.7% of share.
The USA accounted for around 86.4% of share in the North America hips & knees reconstructive market in 2021.
Zimmer Biomet, DePuy Synthes, and Smith & Nephew plc are the top three manufacturers in the hips & knees reconstructive market.
The China hips & knees reconstructive market held a share of about 3.3% in 2021.
The Japan hips & knees reconstructive market held a share of about 4.4% in 2021.
The Germany hips & knees reconstructive market holds a share of around 3.9%.
Key players operating in the hips & knees reconstructive market include Zimmer Biomet, DePuy Synthes, Smith & Nephew plc, Stryker, MicroPort Scientific Corporation, B. Braun Melsungen AG, Exactech, Inc., Limacorporate S.p.a., CeramTec, and ConforMIS.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Market Background 7. Global Hips & Knees Reconstructive Market - Pricing Analysis 8. Global Hips & Knees Reconstructive Market Demand (in Value or Size in USD Billion) Analysis 2012 to 2021 and Forecast, 2022 to 2032 9. Global Hips & Knees Reconstructive Market Volume (Units) Analysis 2012 to 2021 and Forecast, 2022 to 2032 10. Global Hips & Knees Reconstructive Market Analysis 2012 to 2021 and Forecast 2022 to 2032, By Product 10.1. Hip Reconstruction 10.1.1. Total Hip Reconstruction Implants 10.1.1.1. Metal-on-Polyethylene 10.1.1.2. Metal-on-Metal 10.1.1.3. Ceramic-on-Polyethylene 10.1.1.4. Ceramic-on-Ceramic 10.1.1.5. Others 10.2. Knee Reconstruction 10.2.1. Total Knee Reconstruction Implants 10.2.2. Partial Knee Reconstruction Implants 10.2.3. Revision Implants 11. Global Hips & Knees Reconstructive Market Analysis 2012 to 2021 and Forecast 2022 to 2032, By Fixation 11.1. Cement 11.2. Cementless 11.3. Hybrid 12. Global Hips & Knees Reconstructive Market Analysis 2012 to 2021 and Forecast 2022 to 2032, By End User 12.1. Hospitals 12.2. Orthopedic Clinics 12.3. Ambulatory Surgical Centers 13. Global Hips & Knees Reconstructive Market Analysis 2012 to 2021 and Forecast 2022 to 2032, By Region 13.1. North America 13.2. Latin America 13.3. Europe 13.4. East Asia 13.5. South Asia 13.6. Oceania 13.7. Middle East and Africa 14. North America Hips & Knees Reconstructive Market Analysis 2012 to 2021 and Forecast 2022 to 2032 15. Latin America Hips & Knees Reconstructive Market Analysis 2012 to 2021 and Forecast 2022 to 2032 16. Europe Hips & Knees Reconstructive Market Analysis 2012 to 2021 and Forecast 2022 to 2032 17. East Asia Hips & Knees Reconstructive Market Analysis 2012 to 2021 and Forecast 2022 to 2032 18. South Asia Hips & Knees Reconstructive Market Analysis 2012 to 2021 and Forecast 2022 to 2032 19. Oceania Hips & Knees Reconstructive Market 2012 to 2021 and Forecast 2022 to 2032 20. Middle East and Africa (MEA) Hips & Knees Reconstructive Market Analysis 2012 to 2021 and Forecast 2022 to 2032 21. Market Structure Analysis 22. Competition Analysis 22.1. Zimmer Biomet 22.2. DePuy Synthes 22.3. Smith & Nephew plc. 22.4. Stryker 22.5. MicroPort Scientific Corporation 22.6. B. Braun Melsungen AG 22.7. Exactech, Inc. 22.8. Limacorporate S.p.a. 22.9. CeramTec 22.10. ConforMIS 23. Assumptions and Acronyms Used 24. Research Methodology
Healthcare
June 2022
REP-GB-585
250 pages
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Hips & Knees Reconstructive Market
