A new study from TMR Research examines the global joint reconstruction devices market.
Here are six key trends outlined in the report:
1. The number of people needing joint reconstruction is expected to increase due to more awareness of advanced devices among customers. There will be an escalating demand for minimally invasive diagnostic and surgical techniques.
2. Companies are investing in research and development for bigger joints like hinge knee joint and ball-and-socket hip joints.
3. The elderly population is growing, which could lead to growth in the joint reconstruction devices market. Companies are looking to innovate in this space.
4. The desire for value-based joint replacements is prompting innovation in the space. Medtronic launched a program recently for joint replacement episodes of care — Medtronic Orthopedic Solutions — designed to reduce system costs and improve outcomes.
5. North America continues to lead the global joint replacement market. The region expected to report the biggest growth in the coming years is the Asia Pacific market.
6. The joint reconstructive devices market is a highly consolidated competitive landscape, but the technology-based market is becoming fragmented with new players venturing into the space, including those from the Asia Pacific markets.