Joint Reconstruction Devices Market Size

Joint Reconstruction Devices Market Analysis

The joint reconstruction devices market is expected to witness a CAGR of 6.55% during the forecast period.

COVID-19 had impacted the joint reconstruction devices market due to the cancellation of elective surgeries. For instance, an article published in J. Arthroplasty in April 2021 reported that the COVID-19 pandemic significantly affected arthroplasty practice. The article also reported the cancellation of many hip and knee arthroplasty services during the pandemic, which directly impacted the joint reconstruction devices market. Thus, initially, the market faced significant challenges due to the pandemic restrictions. However, with the ease of government regulations and the resumption of healthcare services the market witnessed significant growth.

The key factors propelling the growth of the market studied are the growing prevalence of orthopedic diseases, the increasing aging population, the increasing preference for minimally invasive techniques, and an increasing number of large joint reconstruction surgeries. With the growing prevalence of orthopedic diseases such as arthritis, osteoporosis, knee injuries, etc., resulting in damage to bones and serious cases, joint reconstruction surgery is the ultimate treatment available. For instance, in December 2021, Work-Related Musculoskeletal Disorders Statistics in Great Britain reported that 4,70,000 workers suffered from work-related musculoskeletal disorders (new or long-standing) in 2020/21. This represents 1,420 per 100,000 workers and thus accounts for 28% of all work-induced ill health.

Similarly, another article published by the journal PTJ in January 2021 reported that musculoskeletal conditions are the most common causes of disability and limitations related to daily living and gainful employment in the United States. Thus, a high number of musculoskeletal conditions, including knee, hip, and other joint conditions, increase the demand for joint replacement surgical procedures. This is propelling the market's growth.

As the geriatric population increases, the market studied is also expected to grow as weak bones are more likely to develop in the geriatric population. Joint-related disorders are more likely to arise in the geriatric population, resulting in the need for joint reconstruction surgery, thereby driving the market for joint reconstruction devices. For instance, an article published in the journal, J. Am. Acad. Orthop. Surg. in January 2022 reported a higher prevalence of joint pain among the older population. Thus, with increasing aging, individuals become more susceptible to orthopedic diseases, leading to increasing joint surgery, thereby driving the growth of the market studied.

Also, the introduction of minimally invasive surgery, which is associated with less pain, a shorter hospital stay, and fewer complications, and the increasing use of this surgical procedure are contributing to the growth of the joint replacement devices market. For instance, in May 2022, Premier Furey reported a new approach to address surgical backlogs for hip and knee replacement surgeries. Also, improved perioperative short-acting anesthesia, minimally invasive surgical techniques, and the initiation of rehabilitation protocols soon after surgery have made this surgery possible as an outpatient procedure. As a result, technological advancements are further propelling the growth of the market studied.

Furthermore, the increasing number of large joint reconstruction surgeries is also propelling the growth of the studied market. For instance, in November 2021, the AJRR, the cornerstone of the American Academy of Orthopaedic Surgeons in its 2021 Annual Report on hip and knee arthroplasty procedural trends, reported an overall cumulative procedural volume growth of 18.3% compared to the previous year, 2020. Thus, the increasing number of joint reconstruction surgeries is driving the growth of the market studied.

Thus, for the aforesaid reasons, the market is expected to witness significant growth during the forecast period. However, due to increased awareness about alternative treatments, stringent regulatory reforms and regulatory issues may hamper the growth of the market studied.