LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global joint reconstruction devices market to post CAGR of close to 5% during the forecast period. The increasing number of outpatient joint replacement procedures are expected to impact the growth of the market.
Advances in surgical techniques, implants, comprehensive blood management, multimodal pain management, as well as advances in post-operative care management have significantly reduced the length of hospital stay and nearly eliminated the need for extensive formal rehabilitation. Many end-users are increasingly preferring outpatient joint replacement over inpatient settings due to various advantages such as shorter hospital stay, increased patient satisfaction, and reduced costs to the healthcare system and the patient.
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In this report, Technavio analysts highlight the increasing prevalence of orthopedic diseases and associated risk factors as a key factor contributing to the growth of the global joint reconstruction devices market:
Increasing prevalence of orthopedic diseases and associated risk factors
Globally, there is an increase in the prevalence of orthopedic diseases such as osteoarthritis, osteoporosis, and rheumatoid arthritis. Osteoarthritis ranks fifth among all forms of disability worldwide. According to the CDC, as of 2017, over 30 million US adults had osteoarthritis. Osteoporosis is a leading cause of morbidity and mortality in older people. Every year, osteoporosis causes approximately nine million fractures worldwide. Rheumatoid arthritis is one of the most common chronic diseases, which affects one in every 100 individuals worldwide.
According to a senior analyst at Technavio for orthopedics and medical devices research, “The prevalence of osteoporosis and rheumatoid arthritis is also on the rise due to the increasing rate of obesity and smoking in addition to the rise in aging population. These factors are leading to an increase in the prevalence of orthopedic diseases, which is driving the growth of the joint reconstruction devices market.”
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Global joint reconstruction devices market - segmentation analysis
This market research report segments the global joint reconstruction devices market based on product (knee replacement, trauma and extremities, and hip replacement), and key regions (the Americas, APAC, and EMEA). In 2017, the global joint reconstruction devices market was dominated by the knee replacement segment, followed by the hip replacement segment and the trauma and extremities segment.
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