(EMAILWIRE.COM, February 12, 2025 ) The global Joint Replacement Devices Market, valued at US$22.50 billion in 2023, is forecasted to grow at a robust CAGR of 4.8%, reaching US$23.42 billion in 2024 and an impressive US$31.09 billion by 2030. The main factor driving this market is the increasing rate of orthopedic disorders, especially among the baby boomer population. Additionally, the market is growing due to various initiatives by major companies, including the introduction of new joint replacement devices. The rising demand for joint replacement devices is further supported by the growing number of hospitals and surgical centers and improved healthcare access in developing countries. The key players in this market focus on expanding their reach in emerging economies by applying various strategies such as collaborations and agreements, further driving market growth.

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Browse 333 market data Tables and 63 Figures spread through 375 Pages and in-depth TOC on "Joint Replacement Devices Market by Product (Knee, Hip, Shoulder, Ankle, Elbow, Wrist, Bone Grafts), Surgery (Total, Partial, Revision), Type(Cemented, Cementless, Hybrid), Procedure type, End user (Hospitals, ASC, Trauma, Clinic) - Global Forecast to 2030"
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The knee replacement devices segment is to register a significant growth rate over the forecast period of 2024-2030.

Based on the product type, the global joint replacement devices market is segmented into knee replacement devices, hip replacement devices, shoulder replacement devices, elbow replacement devices, ankle replacement devices, wrist replacement devices, other replacement devices, and bone graft substitutes. The osteoporosis disease is more prevalent in geriatric people, leading to a high incidence of knee joint fractures that require artificial implants for its repair and reconstruction, thereby creating more demand by the end users in this segment. Also, rising number of sports related injuries support the increasing use of knee replacement devices and is expected to increase its utilization in the hospitals and other end user facilities in coming years.

Total replacement segment in surgery type to register a significant growth over the forecast period of 2024-2030

By surgery type, the global joint replacement devices market is segmented into total replacement, partial replacement, and revision replacement. Globally, a consistent rise in various bone disorders such as rheumatoid arthritis, osteoporosis, osteomalacia, etc. supports the rise in the number of total replacement surgeries. Launch of new sensor-based implants enhances patient outcomes, reduces post operative pain, and helps to detect infection further supporting the growth of this segment.

Cemented fixation in type to register a significant growth over the forecast period of 2024-2029

By type, the global joint replacement devices market is segmented into cemented fixation, cementless fixation, hybrid fixation, and reverse hybrid fixation. Cemented fixation offer multiple benefits such as it helps to reduce periprosthetic fractures, reduces pain, supports accurate fixation of implant, and improves longevity. Use of bone cement such as polymethyl methacrylate improves the stability and enhances patient outcomes. Furthermore, factors such as rising prevalence of obesity among people, change if lifestyle, increase in osteoarthritis incidence fuels the segment growth.

Minimally invasive surgery in technique type to register a significant growth over the forecast period of 2024-2029

By technique, the global joint replacement devices market is segmented into traditional surgery, minimally invasive surgery, and computer assisted surgery. Minimally invasive surgery offer multiple benefits, few of them are it helps to reduce pain, decreased scarring, reduced blood loss and trauma, etc. Furthermore, factors such as increase in the incidence of various orthopedic diseases, increasing adoption of sensor-based implants, rising focus on the research and development by the key players to address unmet needs fuel the segment growth.

The hospitals & surgical centers accounted for the major share of the joint replacement devices market by end users in 2023.

The end user segment of the joint replacement devices market includes hospitals & surgical centers, ambulatory care centers & trauma units, and orthopedic clincs. In 2023, hospitals & surgical centers dominated the global joint replacement devices market by end user. The increasing focus of healthcare professionals in adopting minimally invasive surgical treatments coupled with rising demand for enhanced post-operative care, which are offered in various end user facilities is responsible for the growth of the segment. Increasing number of ambulatory surgical centers, quicker recovery time, initiatives for increasing awareness related to early detection further supports the growth of end user segment in the global joint replacement devices market.

The Asia Pacific market will register significant growth during the forecast period.

The Asia Pacific joint replacement devices market is estimated to grow significantly from 2024 to 2029. Consistent rise in disposable income and increase in target population is expected to fuel the Asia Pacific region market growth. Moreover, from past few years the APAC region is experiencing a rise in investments by major market players and the government, offering significant growth opportunities. Also, various expansion activities made by the key players in Asia Pacific market and presence of small and medium sized enterprises in the asia pacific region fuels the overall joint replacement devices market.

As of 2023, prominent players in the joint replacement devices market are Zimmer Biomet Holdings, Inc. (US), Stryker Corporation (US), Johnson & Johnson MedTech (US), Smith+Nephew (UK), B. Braun (Germany).

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Recent Developments of Joint Replacement Devices Market
-In October 2024, Smith+Nephew (UK) announced that its LEGION Hinged Knee (HK) System is available in the US.
-In September 2024, Stryker (US) acquired the osteotomy truss system and ankle truss system from 4WEB Medical to expand its foot and ankle portfolio.
-In July 2024, Smith+Nephew (UK) partnered with the Healthcare Outcomes Performance Company. This collaboration aims to provide improved solutions for healthcare professionals, patients, and ambulatory surgery centers (ASCs) by utilizing the digital and analytics platform offered by Healthcare Outcomes Performance Company.
-In October 2023, Johnson & Johnson MedTech (US) received 510(k) clearance from the US FDA for the TriLEAP System. This system includes a variety of specially shaped and standard plates designed to accommodate different screw sizes. It also features tools that assist in the reduction, fixation, and fusion of bones or bone fragments during surgery.

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