Global Artificial Joints Market Growth, Market Insights and Forecast to 2025
Posted by rekha on September 4th, 2019
Precision Business Insights (PBI) in its report titled “Global Artificial Joints Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2024” assesses the market performance over seven years forecast period over 2018-2024. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global artificial joints market was valued at US$ XX Mn in 2018 and increasing at a significant CAGR over the forecast timeframe owing to surge in the incidence of various types of joint disorders like different types of arthritis and other orthopedic diseases. Technological advancements in orthopedic sector, increasing geriatric population, unhealthy food habits, increasing risk of mutations due to increasing pollution, government initiatives to prevent the disease progression and advanced healthcare services are expected to drive the global artificial joints market. However, high cost for the treatment, huge developmental costs, development of new designs, are anticipated to hinder the revenue share of global artificial joints market.
Global artificial joints market segmented on the basis By Type of material, By Product, By End User, By Geography.
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Ceramic Artificial Joints Dominates the Global Artificial joints Market
Based on type of material to make artificial joints, global artificial joints market segmented into Ceramics, Alloy, Oxinium, Others. Ceramic artificial joints dominated the global artificial joints market in 2018 and estimated to dominate over the forecast period owing to its advantages like non corrosive nature, chemical inertness, non-allergic nature, reduced risk, innovation of newer technologies by the companies, rise in awareness about the artificial joints among the people, and patent filings by the market players on different material associated with the joints are surge the market over the forecast years. However, a slow growth rate observed for the alloy due to its increased medical
North America Leads the Global Artificial joints Market
PBI’s global artificial joints market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America accounted for larger revenue share through 2014-2018 and expected to dominate over 2019-2025 owing to advance healthcare system, presence of skilled professionals, launch of innovative strategies into market, and rise in healthcare expenditure are propel the market. Asia Pacific artificial joints market projected to exhibit significant growth due to entry of market players into emerging countries such as India and China and development in healthcare infrastructure, increase in research and development of the artificial joints, , large patient population and new products in the market, favorable reimbursement policies, and increase in healthcare expenditure are boost the market.
Launch of newer technologies of artificial joint products, frequent product approvals, and strategic alliances are the key strategies adopted by market players
Global artificial joints market further reveals that the key players increasingly adopting strategies such as launch of newer technologies of artificial joints products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance. In March 2019,Smith & Nephew has agreed to acquire the Brainlab orthopedic joint reconstruction business. This acquisition supports Smith & Nephew’s strategy to invest in best in class technologies and the acquisition and strategic collaboration allow both companies to accelerate research and development in the area of orthopedics.
Key player’s profiles in the report are
Type of Material
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Joined: July 26th, 2019
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