Market Highlights
The Endoprosthesis Market Research evaluated at USD 9.2 billion
in 2022 and is expected to cross USD 23918 billion by 2032 at a CAGR of 11.20%
during the forecast period 2023-2032. 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.
endoprosthesis
definition: a medical device that replaces a damaged or missing body part
within the body.
Endoprosthesis Market Overview
Endoprosthesis Market Overview are
Information By Product (Knee, Hip, Shoulder, Elbow, Finger/Hand, Ankle/Foot),
By Knee (Primary, Partial, Revision Knee Replacement, Tumor, Custom Made), By
Hip (Primary, Partial, Revision Hip Replacement, Tumor, Custom Made), By
Shoulder (Primary, Revision Shoulder Replacement, Tumor, Custom Made),By Elbow
(Total Elbow, Radial Head Replacement, Tumor, Custom Made), By Finger/Hand
(Total Wrist, PIP Finger, MCP Finger Prosthesis), By Ankle/Foot (Total Ankle
Great Toe Implant)
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 insights 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 Report, 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.
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