Endoprosthesis Market Size, Key Trends & Projected Growth from 2023 to 2030
In 2022, the global market size for endoprostheses reached approximately USD 26 billion, with a projected compound annual growth rate (CAGR) exceeding 11% from 2023 to 2030. Several factors are anticipated to fuel this global market expansion. Primarily, the rising incidence of orthopedic disorders, including osteoporosis and arthritis, is driving an increased demand for endoprosthesis devices. Additionally, a growing preference for minimally invasive surgeries, known for their convenience and quicker recovery periods, contributes to the anticipated market growth.
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Market Trends:
Rising prevalence of joint disorders: The increasing prevalence of joint disorders, such as osteoarthritis and rheumatoid arthritis, is a major driver of growth in the endoprosthesis market. These disorders cause significant pain and disability, and joint replacement surgery is often the most effective treatment option.
Aging population: The aging population is another key driver of market growth. As people age, they are more likely to develop joint disorders that require surgery. The number of people over the age of 65 is expected to reach 2 billion by 2050, which will put a significant strain on healthcare systems and drive demand for endoprostheses.
Technological advancements: Technological advancements are leading to the development of more durable, biocompatible, and minimally invasive endoprostheses. These advancements are improving patient outcomes and reducing recovery times, which is driving demand for endoprostheses.
Increasing demand for minimally invasive procedures: Patients are increasingly demanding minimally invasive procedures, and this is driving the development of minimally invasive endoprosthesis surgery techniques. These techniques are less invasive than traditional surgery, resulting in less pain, scarring, and recovery time.
Growing demand for personalized implants: The growing demand for personalized implants is another key trend in the endoprosthesis market. Personalized implants are designed to fit the individual patient's anatomy, which can improve implant stability and reduce the risk of complications.
According to the recent report published by RC Market Analytics, the Global Endoprosthesis Market is expected to provide sustainable growth opportunities during the forecast period from 2023 to 2030. This latest industry research study analyzes the endoprosthesis market by various product segments, applications, regions and countries while assessing regional performances of numerous leading market participants. The report offers a holistic view of the endoprosthesis industry encompassing numerous stakeholders including raw material suppliers, providers, distributors, consumers and government agencies, among others. Furthermore, the report includes detailed quantitative and qualitative analysis of the global market considering market history, product development, regional dynamics, competitive landscape, and key success factors (KSFs) in the industry.
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Geographically, the endoprosthesis market report comprises dedicated sections centering on the regional market revenue and trends. The endoprosthesis market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Endoprosthesis market estimates have also been provided for the historical years 2020 & 2021 along with forecast for the period from 2023 - 2030.The report includes a deep-dive analysis of key countries including the U.S., Canada, the U.K., Germany, France, Italy, China, Japan, India, Australia, Mexico, Brazil and South Africa, among others. Thereby, the report identifies unique growth opportunities across the world based on trends occurring in various developed and developing economies.
The Endoprosthesis Market Segmentation:
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The endoprosthesis market is highly competitive, with the presence of several key players. Some of the major companies operating in the market are Zimmer Biomet, Stryker Corporation, Johnson & Johnson (DePuy Synthes), Smith & Nephew, Wright Medical Group N.V., DJO Global Inc., ConforMIS, Mathys AG Bettlach, MicroPort Scientific Corporation, and Arthrex Inc.
Recent Developments:
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Key Questions Answered by Endoprosthesis Market Report:
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