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3 December 2012
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The global market for joint reconstruction (hip and knee devices) was estimated to be worth $13.5 billion in 2011 and is expected to reach $17.5 billion by 2018 at a Compound Annual Growth Rate (CAGR) of 3.7%. The knee reconstruction category is the largest in terms of revenue and is forecast to reach $9 billion in 2018, while the hip reconstruction category is expected to grow at a CAGR of 4.2% to $8.5 billion.
During the forecast period the market is primarily expected to be driven by the increase in the elderly population; the large patient pool suffering from osteoporosis; the rapid adoption of innovative, minimally invasive joint reconstruction procedures; and a trend towards patients aged between 45 and 64 years opting for replacement surgeries to maintain active and healthy lifestyles. Research into the development of minimally invasive devices and procedures is increasing and will accelerate technological innovation in the joint reconstruction devices market. Furthermore, increasing awareness of the various treatment options available to patients, improving diagnosis and treatment rates and growing demand for safe, non-toxic, and cost-effective therapies will lead to higher adoption rates for joint reconstruction devices.
Zimmer Holdings is the Dominant Player in the Global Joint Reconstruction (Hip and Knee Devices) Market
In 2011, Zimmer Holdings, Inc. (Zimmer) accounted for 22.9% of the global joint reconstruction (hip and knee devices) market. Its knee reconstruction product line has driven its overall growth.
In second and third place, DePuy and Stryker accounted for 21.8% and 18.3% of the total joint reconstruction (hip and knee devices) market respectively. Both companies products witnessed strong growth in 2011. Smith & Nephew and Biomet, both of which also specialize in hip and knee reconstruction devices, accounted for 11.1% and 11% of the market respectively in the same year. The launch of innovative and technologically advanced products will strengthen their market positions, although an increasing number of product recalls and product alerts from regulatory authorities mean that market share distribution joint reconstruction (hip and knee devices) is expected to change in the future.
Product Innovations and Better Implant Material to Drive Growth of the Global Joint Reconstruction (Hip and Knee Devices) Market in the Future
Product innovations and better implant material are expected to drive the growth of the global joint reconstruction (hip and knee devices) market in the future as both have enabled physicians to optimize procedure outcomes and improve implant longevity. Advances in joint reconstruction (hip and knee devices) such as the use of different bearing surface materials has exhibited low rates of wear and improved strength and longevity. The new implants last for up to 25 years compared to 15 years for conventional devices. The use of modular designs that allow different components of the implants to be put together during surgery has enabled physicians to achieve optimal reconstruction.
Growing Popularity of Minimally Invasive Techniques to Drive Future Growth of the Global Joint Reconstruction (Hip and Knee Devices) Market
The growing popularity of minimally invasive techniques is expected to drive future growth in the global joint reconstruction (hip and knee devices) market. Minimally invasive techniques for hip and knee replacement procedures require smaller incisions than traditional techniques, and combined with different entry points for access, injury to muscles and tendons is minimized. This approach also minimizes blood loss and increases stability, allowing natural movement to return more quickly. These benefits lead to shorter hospital stays, recovery time and improved patient comfort. Anterior hip replacement surgery and Percutaneously Assisted Total Hip (PATH) are examples of minimally invasive techniques used for hip replacement, while minimally invasive quadriceps-sparing total knee replacement is used for total knee replacement.
This report provides key data, information and analysis for the global joint reconstruction - hip and knee devices market. It examines the market and competitive landscape and trends for the knee reconstruction and hip reconstruction segments and provides comprehensive information on key trends and dynamics. The report also looks at the pipeline products in each segment and gives details of important M&A activity. It has been built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by our team of industry experts
- Key market geographies of the US, Canada, the UK, Germany, France, Italy, Spain, Japan, China, India, Australia and Brazil
- Market size data for the two joint reconstruction - hip and knee devices segments: knee reconstruction and hip reconstruction
- Annualized market revenue data forecast from 2011 to 2018 and company share data for 2011
- Qualitative analysis of key trends in the joint reconstruction- hip and knee devices market
- Information on the leading players and technologies in the market.
- Develop business strategies by understanding the trends and developments driving the global joint reconstruction - hip and knee devices market
- Design and develop your product development, marketing and sales strategies
- Exploit M&A opportunities by identifying the market players with the most innovative pipelines
- Develop market-entry and market-expansion strategies
- Identify the key players best positioned to take advantage of the emerging market opportunities
- Exploit in-licensing and out-licensing opportunities by identifying the products most likely to ensure a robust return
- Identify, understand and capitalize on the next big thing in the joint reconstruction - hip and knee devices market landscape
- Make more informed business decisions using the reports insightful and in-depth analysis of the global joint reconstruction - hip and knee devices market and the factors shaping it.
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