Artificial Joints Market: The report provides a valuable source of insightful data for business strategists and competitive analysis of Artificial Joints Market. The study covers important knowledge that makes the analysis document a handy resource for managers, analysts, business consultants and different key individuals get ready-to-access and self-analyzed study in conjunction with graphs and tables to assist perceive market trends, drivers and market challenges.It also highlights the restraints and opportunities expected to influence the market’s growth during the said period. The study provides a holistic perspective on the market’s growth throughout the above mentioned forecast period in terms of revenue(in US$ Mn) and Volume (Thousand Units), across different geographies.
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Replacement osteoarthritis, or artificial joint osteoarthritis, is a surgical procedure of arthroplasty orthopedics in which an arthritic, rotundar joint is substituted with an artificial orthopedic joint prosthesis. This procedure is used as a therapy for severely painful, dysfunctional, or arthritic joints. Artificial joint replacements allow patients to move without much pain and often restore the ability to function for long.
Increasing geriatric and obese population is expected to drive growth of the global artificial joints market. According to the World Health Organization (WHO), the global geriatric population is expected to account for around 22% of the global population by 2050. According to the same source, in Europe, the number of people aged 85 years and above is expected to increase from 14 million to 19 million by 2020, and increase to 40 million by 2050. Furthermore, according to the WHO, in 2016, around 1.9 billion adults aged 18 years and over were overweight, of which over 650 million were obese. Osteoarthritis is the most prevalent musculoskeletal disease affecting the geriatric and obese population, which in turn, has increased the demand for artificial joints. Hence, these factors are expected to drive growth of the global artificial joints market. Furthermore, technological advancements in artificial joints technology are expected to propel the global artificial joints market growth in the near future.
High cost associated with artificial joints and frequent product recalls is expected to restrain growth of the global artificial joints market. However, rising R&D initiatives related to the development of novel artificial joints can present lucrative growth opportunities for key market players in the near future. Among regions, North America is expected to witness significant growth in the global artificial joints market. This is owing to the presence of robust healthcare infrastructure, continuous R&D activities for the development of artificial joints, and high healthcare expenditure across the region. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to the presence of a large pool of population suffering from joint diseases.
For instance, in December 2020, Arthrex, a developer of minimally invasive orthopedic technology, launched the SwiveLock ACL Repair Kit, which is approved by the U.S. Food and Drug Administration (FDA), for primary repair of anterior cruciate ligament (ACL) tears.
Top Key Players Include In Artificial Joints Market: Abbott Laboratories, Boston Scientific, Stryker Corporation, Intuitive Surgical Inc., Zimmer Biomet Holdings Inc., Smith and Nephew Plc, Varian Medical Systems, Sonova Holdings AG., Aesculap AG, Arthrex, Globus Medical, and JRI orthopedics.
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