MEA Hip And Knee Reconstruction Devices Industry Overview
The MEA hip and knee reconstruction devices market size was estimated at USD 1.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2021 to 2028. Technological advancements and the growing prevalence of orthopedic conditions resulting in a spike in hip and knee surgeries are anticipated to boost the growth of the market for hip and knee reconstruction devices. Furthermore, an increase in lifestyle disorders and the rising target population is also fueling market growth. Hip and knee reconstruction procedures have been considered non-urgent during the COVID-19 pandemic.
Due to this, all outpatient and elective interventional procedures were limited or interrupted. Specialty centers for orthopedic procedures were also shut down during the pandemic, which further negatively impacted the market for hip and knee reconstruction devices. In addition, due to the risk of infection, patients suffering from acute pain were left untreated, which eventually resulted in chronic pain, increasing the risk of depression as well as other disabilities.
Gather more insights about the market drivers, restraints and growth of the MEA Hip And Knee Reconstruction Devices market
The growing prevalence of orthopedic conditions is driving the number of hip and knee surgeries as well. This is driving the demand for reconstruction devices for these surgeries, hence, impelling market growth. According to the International Journal of Clinical Rheumatology, as of 2018, the prevalence of osteoporosis in Turkey was 15.1% in women and 10.7% in men. It also stated that 18.5% of people in Northern Iran were suffering from osteoporosis. As per the same study, in Saudi Arabia, 27.2% of women were suffering from osteoporosis and 29.8% were suffering from osteopenia.
The industry players are developing new products with better mechanical properties and biocompatibility. For instance, currently, there is a clinical trial being conducted on a ceramic device implant “H1.” This implant is anticipated to shorten the recovery duration when compared to other hip implants. Furthermore, these companies are focusing on technological advancements for improving the efficiency of hip surgeries by adopting robot-assisted surgeries.
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Knee Implants Market - The global knee implants market size was valued at USD 10.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2030.
Hip Replacement Implants Market - The global hip replacement implants market size was estimated at USD 5.56 billion in 2018 and is anticipated to grow at a CAGR of 4.7% over the forecast period.
MEA Hip And Knee Reconstruction Devices Industry Segmentation
Grand View Research has segmented the MEA hip and knee reconstruction devices market based on joint type, technique, and country:
MEA Hip & Knee Reconstruction Devices Joint Type Outlook (Revenue, USD Million, 2016 - 2028)
- Hip
- Knee
MEA Hip & Knee Reconstruction Devices Technique Outlook (Revenue, USD Million, 2016 - 2028)
- Joint Replacement
- Osteotomy
- Arthroscopy
- Resurfacing
- Arthrodesis
- Others
MEA Hip & Knee Reconstruction Devices Country Outlook (Revenue, USD Million, 2016 - 2028)
- South Africa
- Saudi Arabia
- Israel
- Egypt
- Oman
- Kuwait
- Bahrain
- Lebanon
- Qatar
- Iran
- UAE
Market Share Insights:
January 2021: Smith+Nephew acquired the extremity orthopedics business from Integra LifeSciences Holdings Corporation for USD 240 million. This supported the company’s strategy to invest in high-growth segments and strengthened its extremities business.
December 2020: DePuy Synthes, a Johnson and Johnson company launched KINCISE Surgical Automated System in Europe and MEA markets. This expanded the company’s offerings and strengthened its market position.
Key Companies profiled:
Some prominent players in the MEA Hip And Knee Reconstruction Devices Industry include
- DJO, LLC
- Smith + Nephew
- Zimmer Biomet
- Braun Melsungen AG
- Conmed Corporation
- DePuy Synthes
- Meril Life Sciences Pvt. Ltd.
- Arthrex, Inc.
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