Endoprosthesis Market Is Expected To Demonstrate Strong Growth by Forecast to 2030
The Endoprosthesis Market evaluated at USD 20,679.25 million in 2020
and is expected to cross USD 45,134.19 million by 2027 at a CAGR of 11.58%
during the forecast period.
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.
Key Players—
Endoprosthesis Market
Players areJohnson & Johnson Services, Inc.(US),
Zimmer Biomet Holdings Inc.(US), Stryker(US), Smith & Nephew(UK), Corin Ltd
(UK), MedactaInter national SA (Switzerland), Exactech, Inc.(US),
MicroPortOrthopedics, Inc.(US), Baumer S.A. (Switzerland), and B. Braun
Melsungen AG (Germany).
MRFR
recognizes the following companies as the key players in the global Endoprosthesis
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 segments are 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 is segmented 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 global
endoprosthesis market, based on region, has been divided into North America,
South America, Europe, Asia-Pacific, and the Middle East & Africa.
The North American
market accounted for the largest share of 29.57% in 2020 and is expected to
increase at a CAGR of 11.26% during the forecast period. This is due to the
rise in prevalence of knee & hip osteoarthritis among the geriatric
population, the presence of key players and lifestyle diseases, technological
developments in healthcare applications, and increasing adoption of technically
advanced healthcare products.
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.
Europe accounted for
a market share of 24.59% in 2020 and is expected to exhibit a CAGR of 12.41%
during the forecast period. Factors such as the increase in the prevalence of
joint disorders, improved healthcare infrastructure in the region, the rising
geriatric population, and growing awareness about the use of prosthetics in
orthopedic injuries are propelling the regional market growth. For instance,
according to the Eurostat data published in 2020, 90.4 million older people
aged 65 and above were living in the EU-27 in 2019.
Asia-Pacific is
expected to register the highest growth rate over the forecast period from
2021to 2027 at a CAGR of 12.78%. Factors like the growing incidence of
osteoarthritis and a booming aging population are projected to boost the market
growth in the region over the forecast period. In addition, growing expenditure
on healthcare infrastructure and rising affordability of the surgery are likely
to drive the region’s market growth.
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 like the growing aging
population and improving healthcare infrastructure will 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 America will hold the largest share of the
global endoprosthesis market during the forecast period due to prominent US
players, rising arthritis cases, and technological developments in healthcare
infrastructure.
·
Based on product, the knee segment accounted for
the largest market share and the highest CAGR of 12.73%in 2020.
·
On the basis of the 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.
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