Market Highlights
The global endoprosthesis market is expected to have a market value of USD 45,134.19 million by 2027.
Endoprosthesis is a surgery that involves using an implant to replace a joint in the body that has lost functionality due to damage or disease, in part or whole. Degenerative joint disease, fractures, and malignancies are all common markers for endoprosthesis use. The growth of the global endoprosthesis is driven by factors such as the increasing prevalence of osteoarthritis among the geriatric population, technological advancements in endoprosthesis devices enabling effective treatment, and increasing awareness among the population. However, adverse effects and high costs associated with endoprosthesis are likely to restrain the market growth.
Segment Analysis
The global endoprosthesis market is segmented into products, further categorized into the knee, hip, shoulder, elbow, finger/hand, and ankle/foot endoprosthesis products. The knee, hip, and shoulder segmentsare further segmented into primary replacement, partial replacement, custom-made replacements, revision replacement, and tumor. The elbow segment is categorized into total elbow replacement, radial head replacement, tumor, and custom-made replacements. The finger/hand segment issegmented into the total wrist, PIP, and MCP finger prosthesis. Lastly, the ankle/foot segment is categorized into the total ankle and great toe implant segments.
Regional Analysis
The worldwide endoprosthesis market, in light of district, has been partitioned into North America, South America, Europe, Asia-Pacific, and the Middle East and Africa.
The North American market represented the biggest portion of 29.57% in 2020 and is relied upon to increment at a CAGR of 11.26% during the conjecture time frame. This is because of the ascent in the predominance of the knee and hip osteoarthritis among the geriatric populace, the presence of central participants and way of life illnesses, innovative improvements in medical services applications, and expanding reception of actually progressed medical services items. The South American market held a market share of 14.6% in 2020 and is expected to register a CAGR of 10.38%. Factors like inexpensive treatments, a rise in musculoskeletal diseases, and an increasing geriatric population will drive the market in the forecast period.
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Europe represented a market portion of 24.59% in 2020 and is relied upon to display a CAGR of 12.41% during the conjecture time frame. Factors like the expansion in the pervasiveness of joint problems, further developed medical care framework in the area, the rising geriatric populace, and developing mindfulness about the utilization of prosthetics in muscular wounds are pushing the local market growth. For case, as per Eurostat's information distributed in 2020, 90.4 million more established individuals matured 65 or more were living in the EU-27 of every 2019.
Asia-Pacific is relied upon to enroll the most noteworthy development rate over the conjecture time frame from 2021to 2027 at a CAGR of 12.78%. Factors like the developing rate of osteoarthritis and a roaring maturing populace are projected to support the market development in the district over the gauge time frame. Furthermore, developing use on medical services foundations and the rising reasonableness of medical procedures are probably going to drive the area's market development.
The Middle East & Africa region accounted for a market share of 10.93% in 2020. It is expected to have a CAGR of 9.66% in the forecast period. The market growth is less due to slowly improving economies. However, factors likethe growing aging population and improving healthcare infrastructurewill drive the growth of the endoprosthesis market.
Key Findings of the Study
- The global endoprosthesis market is estimated to reach USD 45,134.19 million by 2027 at a CAGR of 11.58% during the assessment period of 2021to 2027.
- North Americawill holdthe largest share of the global endoprosthesis market during the forecast perioddue to prominent US players, rising arthritis cases, and technological developments in healthcare infrastructure.
- Based on product, the kneesegment accounted for the largest market share and the highest CAGR of 12.73%in 2020.
- On the basis ofthe knee, the primary knee replacement segment held the highest share of 31.85% in 2020.
- Based on hip, the primary hip replacement segment held the highest share of 32.08% in 2020..
- Based on elbow, the total elbow replacement segment dominated the market with a market share of 35.40%in 2020.
Some of the majorplayers operating in the endoprosthesis market are Johnson & JohnsonServices, Inc.(US), Zimmer Biomet HoldingsInc.(US), Stryker(US), Smith & Nephew(UK), CorinLtd(UK), MedactaInternational SA(Switzerland), Exactech, Inc.(US), MicroPortOrthopedics,Inc.(US), BaumerS.A.(Switzerland), and B. Braun Melsungen AG (Germany).
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