The Business Research Company's Total Hip and Knee Replacements Market Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
Market Size and Growth:
The total hip and knee replacements market size is expected to grow from $20.44 billion in 2023 to $21.68 billion in 2024, representing a compound annual growth rate (CAGR) of 6.1%. Looking ahead, the market is projected to reach $26.64 billion by 2028, at a CAGR of 5.3%. Factors contributing to this growth include regenerative medicine advances, the development of biocompatible implant materials, and the implementation of value-based healthcare initiatives.
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Key Drivers:
One of the significant drivers of market growth is the increasing number of obesity patients. Obesity, characterized by an excess accumulation of body fat, can lead to joint pain and deterioration, particularly in weight-bearing joints like the hips and knees. Total hip and knee replacements offer a solution for obese patients, improving their quality of life and addressing joint problems caused by excess weight.
Market Trends:
Innovative surgical solutions, such as robot-assisted surgery, are becoming increasingly prevalent in the total hip and knee replacements market. Companies like DePuy Synthes Companies have launched advanced medical systems like VELYS, which enhance the precision and accuracy of orthopedic surgeries. These technological advancements are aimed at improving patient outcomes and reducing recovery times.
Major Companies Leading players in the total hip and knee replacements market include Johnson & Johnson, Stryker Corporation, B. Braun SE, and Zimmer Biomet Holdings Inc.
Regional Insights:
North America dominated the total hip and knee replacements market in 2023, driven by a strong healthcare infrastructure and a high prevalence of joint-related disorders. However, Asia Pacific is expected to emerge as the fastest-growing region, fueled by increasing healthcare expenditure and a growing elderly population.
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Market Segmentation:
The total hip and knee replacements market covered in this report is segmented –
1) By Procedure Type: Total Hip Replacement, Partial Hip Replacement, Revision Hip Replacement, Total Knee Replacement, Partial Knee Replacement, Revision Knee Replacement
2) By Implant Type: Mobile Bearing, Fixed Bearing, Other Implant Types
3) By End-User: Hospitals, Ambulatory Surgical Centers, Orthopedic Clinics, Other End-Users
Total Hip And Knee Replacements Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Total Hip And Knee Replacements Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on total hip and knee replacements market size, total hip and knee replacements market drivers and trends, total hip and knee replacements market major players, competitors' revenues, market positioning, and market growth across geographies. The total hip and knee replacements market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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