The joint reconstruction market has accounted for the largest share in the orthopedic devices market. Increasing number of osteoarthritis and rheumatoid arthritis patients and the introduction of minimally invasive technologies have boosted the overall demand of joint reconstruction procedures across all regions around the world. Joint reconstruction is widely used in relieving pain in the joint, which is caused by damage done to the cartilage, and is rectified by replacing the damaged part of the cartilage.
Rise in demand of minimally invasive techniques and increase in the number of geriatric population are significant factors propelling the demand of joint reconstruction procedures. On the other hand, the cost of implants and alternative treatment options are restraining its market growth.The global joint reconstruction market was valued at $15,925.9 million in 2014, and is expected to reach $20,318.5 million by 2019, at a CAGR of 5.0% from 2014 to 2019. The North America joint reconstruction market has occupied the largest share market share of 57.8% in 2014. The global joint reconstruction market is segmented on the basis of type and geography. With respect to type, the market is segmented into knee replacement, hip replacement, digit replacement, elbow replacement, shoulder replacement, and ankle replacement.
Major players that have dominated the global joint reconstruction market include Zimmer Holding Inc. (U.S.), Depuy Synthes Companies (Germany), Stryker Corporation (U.S.), Biomet Inc. (U.S.), Smith & Nephew Plc. (U.K.), Wright Medical Technology, Inc. (U.S.), and Tornier N.V. (Netherlands) among others. These players have adopted varied growth strategies to expand their global footprint and increase their market share. This market research report offers a comprehensive overview of market share and value chain analysis, along with varied market dynamics such as drivers, restraints, and upcoming opportunities.
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