The North American joint reconstruction market has four companies dominating the space, which continues to grow.
Here are six things to know about the North American joint reconstruction market:
1. The market was valued at $4.4 billion last year and is expected to grow over the next four years.
2. Through 2019, the markets is expected to increase at a 5.1 percent compound annual growth rate.
3. Zimmer, DePuy Synthes, Stryker and Smith & Nephew dominate the market. Biomet, which is being acquired by Zimmer, also holds a strong place in the market.
4. Market growth drivers include:
• Increasing demand for minimally invasive techniques
• Growing awareness about joint reconstruction benefits
5. The United States accounted for the largest share of the North American market — 90.3 percent.
6. The large population of patents suffering from rheumatoid arthritis and osteoarthritis results in increased technological advancements and new product launches by the key players.