骨科关节Replacement Market Size, Share & COVID-19 Impact Analysis, By Product (Knee, Hip, Shoulder, Ankle, and Others), By Procedure (Total, Partial, and Others), By End user (Hospitals, Ambulatory Surgical Centers, Orthopedic Clinics, and Others) and Regional Forecast, 2020-2027

The global orthopedic joint replacement market size was USD 20.00 billion in 2019 and is projected to reach USD 26.89 billion by 2027, exhibiting a CAGR of 7.6% during the forecast period.

Osteoarthritis is one of the most prevalent diseases among the geriatric population. Joint replacement has emerged as the most popular option for the treatment of osteoarthritis, which has resulted in a wider acceptance of joint implants among patients. An evidential rise in the geriatric population is supplementing the orthopedic joint replacement market growth due to the increasing incidence of hip fractures in the elderly population. According to the report published by the United Health Foundation 2015, more than 300,000 adults aged 65 and older are estimated to be hospitalized each year for hip fractures. With the introduction of robotic surgery and patient-specific 3-D printed implants, the demand for joint implants has drastically increased, which is further augmented by support from regulatory bodies. For instance, in August 2020, Paragon received FDA approval of its APEX 3D total ankle replacement systems. The market is also being favored by active government support and patient-friendly health reimbursement policies.

Decline in Orthopedic Surgeries amid COVID-19 to Hinder Market Growth

减少、延迟或cancellations in elective surgeries such as those for orthopedic joint replacement have had a huge impact on global market growth. According to GlobalSurg, the estimated normal elective orthopedic surgical volume during March 2020 – May 2020 should have been around 7.7 million. However, the pandemic led to almost 82% of the surgeries getting canceled during this peak period. Additionally, the UK’s National Health Service (NHS) has directed all hospitals in England to postpone non-urgent elective procedures for 3 months starting from April 15. Due to the COVID-induced lockdowns, the pharma sector witnessed disruptions in supply chains raised due to the limitations on imports and exports, closure of flights, reduced production, and disturbed supply channels.

LATEST TRENDS

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Increasing Adoption of Online Tools to Gain Orthopedic Knowledge to Open New Growth Avenues

With the rapid proliferation of the internet, patients have been referring to web-based tools and online resources to avail information about specific diseases. Joint replacement is one such area witnessing the introduction of a number of online tools guiding the patient through their surgeries, connecting with the orthopedic surgeons, and providing post-surgery rehabilitation information. In 2018, for instance, Zimmer Biomet, one of the leading manufacturers of orthopedic solutions, collaborated with Apple, Inc. for the development of an innovative mobile app named “Zimmer Biomet mymobility” to establish improved connections between patients undergoing a knee hip replacement surgery and the care providers.

DRIVING FACTORS

Technological Innovations in Orthopedic Implants to Augment Market Growth

骨科关节置换市场增长expected to get a boost in the form of increasing demand for the customized joint implants for both males and females. Since each patient has a unique anatomy, the concept of “one size fits all” is not applicable, and hence majormedical devicecompanies are striving to leverage advanced technologies to manufacture patient-specific orthopedic implants. For instance, in 2019, MicroPort received approval to market its Aspiration Medial Pivot Total Knee Replacement System and Superior Medial Stability Total Knee Replacement System in China.

Furthermore, the introduction of3-D printing technologyto manufacture orthopedic implants has resulted in a huge upsurge in demand for customized implants. Many orthopedic companies are developing cutting-edge technologies that can be used to supply technically advanced joint implants, which is likely to favor market growth during the projected time frame.

Advancements in Robotic Surgeries to Boost the Demand for Joint Replacement Devices

The rising adoption ofsurgical robotsin the field of orthopedics has increased the efficiency of surgical procedures and thus, many hospitals are now offering robotic surgeries for the treatment of various orthopedic diseases. Several manufacturers are focusing on developing surgical robots that can be used in spinal fusion surgeries along with the company’s implants and navigation tools. For instance, in January 2019, Medtronic announced the launch of Mazor X Stealth Edition, a robotic system for spine surgery. The system can be used with the company’s spine implants and navigation & 3D imaging tools, providing a comprehensive solution to healthcare professionals.

RESTRAINING FACTORS

Product Recalls and Lawsuits on Orthopedic Devices to Hamper Market Growth

The volume of joint replacement surgeries is increasing exponentially. However, the complications associated with the use of the implant are a major factor that is anticipated to hamper the growth of the market of orthopedic joint replacement in the coming years.

Additionally, product recalls of the knee and hip replacement devices by major players around the globe are also estimated to hinder the growth of the market. According to the US Food and Drug Administration (FDA), from 2003 to 2019 there were more than 13,000 recalls of knee replacement components and systems. The highest number of recalls was recorded by Zimmer Biomet, followed by Johnson and Johnson Services Inc. and Smith & Nephew.

SEGMENTATION

By Product Analysis

Knee Orthopedic Joint Replacement Segment Held the Highest Market Share in 2019

On the basis of product, the market is categorized into knee, hip, shoulder, ankle, and others. The knee segment dominated with a share of 42.5% in 2019. The increase in the number of knee replacement procedures, robotic-assisted knee replacement surgeries, and launch of products such as ATTUNE Revision Knee System, Persona Partial Knee System, JOURNEY II XR Total Knee by key manufacturers are the factors responsible for the estimated growth in the knee segment during the forecast period.

肩膀部分预计将注册一个CAGR of 7.7% owing to the shifting focus of manufacturers towards shoulder implants. Also, the rapid increase in the number of shoulder replacement surgeries performed globally is anticipated to boost the sales of shoulder implants during the forecast period.

By Procedure Analysis

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Total Orthopedic Joint Replacement Captured Majority Market Share

In terms of procedures, the market of orthopedic joint replacement is categorized into total replacement, partial replacement, and others. The total replacement segment accounted for maximum market share in 2019, owing to a higher number of product offerings for total replacement procedures when compared to that for partial, reverse, or revision replacement.

The partial replacement segment is anticipated to report a remarkable CAGR, which can be attributed to the increased preference for partial replacement over total replacement among patients and healthcare providers.

By End User Analysis

Hospitals Segment Ruled the Market in 2019

On the basis of end users, the market has been segmented into hospitals, ambulatory surgical centers, orthopedic clinics, and others. Among these, the hospital segment dominated the global market. Factors such as the growing number of hip implant surgeries within these facilities are contributing to the segmental growth. Hospitals are generally equipped with the latest technologies and skilled healthcare professionals, which is further boosting the segment’s growth. Furthermore, collaborations between hospitals and industry players in order to create advanced surgical procedures are also fostering the market growth.

REGIONAL INSIGHTS

North America Orthopedic Joint Replacement Market Size, 2019 (USD Billion)

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North America dominated the orthopedic joint replacement market share with a revenue of USD 7.23 billion in 2019 and will continue to dominate the market throughout the forecast period. Factors such as the growing awareness among the patient population towards technologically advancedorthopedic implantsand new treatment options available in the region are responsible for the dominant share of the region in the global market. Further, the increasing demand for hip replacement surgeries in the US is contributing to regional market growth. For example, according to the Agency for Healthcare Research and Quality, more than 450,000 total hip replacements are performed each year in the U.S.

The growth of the market in Europe is attributable to the increasing prevalence of osteoarthritis, growing demand for joint implants, and rising day-care surgeries. Furthermore, an increase in healthcare expenditure by the European Commission is anticipated to fuel the growth of the market in the region.

On the other hand, the market of orthopedic joint replacement in Asia-Pacific is anticipated to witness the highest growth during the forecast duration. Factors such as a large patient pool and expanding healthcare spending in the region are supplementing and driving the market growth in Asia Pacific.

Technological advancements, expansion of distribution networks of key players in emerging economies, and increasing healthcare spending are some of the primary factors augmenting market growth in Latin America and the Middle East & Africa.

KEY INDUSTRY PLAYERS

Consolidated Market Structure to Enable Few Key Players to Dominate

A small number of key players such as Zimmer Biomet are dominating the market owing to their diversified product portfolios of joint implants for both upper and lower extremities. Johnson & Johnson Services, Inc. and Stryker with their knee and hip implants together hold a major position in the market. Other players operating in the market are Integra LifeSciences, B. Braun Melsungen AG, Bioimpianti, Conformis, MicroPort Scientific Corporation, and other players.

LIST OF KEY COMPANIES PROFILED:

• Stryker(U.S)


• Johnson & Johnson Services, Inc. (U.S)


• Smith & Nephew (U.K)


• Zimmer Biomet (U.S)


• Integra LifeSciences (U.S)


• B. Braun Melsungen AG (Germany)


• Bioimpianti (Italy)


• Conformis(U.S)


• MicroPort Scientific Corporation (China)


• Other players

关键行业的发展:

• September 2020:Stryker announced the launch of Mako Total Hip 4.0 for robotic hip replacement surgeries. The new software will help the physician to plan patient hip implant position based on the patient’s sitting, standing, and supine poses


• August 2019:Globus Medical acquired StelKast, a leading manufacturer of knee and hip implants, to expand its product portfolio.


• February 2019:Colfax Corporation completed the acquisition of DJO, which will strengthen the company’s position in the joint replacement market.

REPORT COVERAGE

An Infographic Representation of Orthopedic Joint Replacement Market

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The orthopedic joint replacement market research report provides qualitative and quantitative insights on the joint replacement industry and a detailed analysis of market size and growth rate for all possible segments in the market. Along with this, the report provides an elaborative analysis of market dynamics and competitive landscape. Various key insights provided in the report are the number of joint replacement procedures for key countries, new product launches, regulatory scenario and overview of reimbursement policies in key countries, recent industry developments such as mergers & acquisitions, and key market trends.

Report Scope & Segmentation

ATTRIBUTE	DETAILS
Study Period	2016-2027
Base Year	2019
Forecast Period	2020-2027
Historical Period	2016-2018
Unit	Value (USD billion)
Segmentation	By Product Knee Hip Shoulder Ankle Others
	By Procedure Total Replacement Partial Replacement Others
	By End User Hospital Ambulatory Surgical Centers Orthopedic Clinics Others
	By Geography North America (The U.S. and Canada) Europe (The U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe) Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific) Latin America (Brazil, Mexico, and Rest of Latin America) The Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)