New York, United States , June 21, 2024 (GLOBE NEWSWIRE) -- The Global Endoprosthesis Market Size is to Grow from USD 23.58 Billion in 2023 to USD 67.58 Billion by 2033, at a CAGR of 11.10% during the projected period.
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An artificial device called an endoprosthesis is inserted inside the body to replace a missing body part. During surgery, an endoprosthesis a prosthetic joint is placed to replace a fractured joint. The joints that require surgery the most frequently are the shoulder, knee, and hip. Replacing the entire joint is known as total joint replacement or TEP. Prosthetic joint replacement is usually beneficial for patients with severe types of arthritis or other joint problems. The pain persisted despite taking medicines, and cautious non-surgical treatment did not relieve the discomfort. An endoprosthesis usually means a long-term fix for the problem with the affected joint, since total knee or hip replacements might last for 20 years or more in some cases. The need for endoprosthesis, including pacemakers, heart valves, and stents, is being driven by the rise in cardiovascular disease cases, including coronary artery disease and heart valve diseases. Moreover, it is anticipated that the global aging population, which is more susceptible to orthopedic conditions, osteoporosis, osteopenia, and osteoarthritis, will increase the demand for endoprosthesis implants. Furthermore, continued technological improvement results in higher success rates, lower risk, shorter recovery times, and the creation of patient-specific, personalized implants is impeding market expansion. However, the high cost of endoprosthesis implants, like knee implants and cardiac stents, is a major barrier to the market's expansion, especially in developing nations. Additionally, the acquisition rate is constrained in several countries by stringent reimbursement guidelines about the exorbitant costs of endoprosthesis implants. Patients may not be able to receive such therapies due to issues with endoprosthesis implant processes, such as implant rejection, implant failure, infections, etc.
Browse key industry insights spread across 246 pages with 110 Market data tables and figures & charts from the report on the "Global Endoprosthesis Market Size, Share, and COVID-19 Impact Analysis, By Product (Knee, Hip, Shoulder, Elbow, Finger/Hand, and Ankle/Foot), By End-User (Hospitals, Ambulatory Surgical Centers, and Clinics), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The knee segment dominates the market with the largest revenue share through the forecast period.
Based on the product, the global endoprosthesis market is segmented into knee, hip, shoulder, elbow, finger/hand, and ankle/foot. Among these, the knee segment dominates the market with the largest revenue share through the forecast period. Knee replacement surgery is becoming more and more necessary due to the alarmingly high rate of obesity and the rapidly aging population. The age range of 55 to 64 has the highest annual incidence of osteoarthritis in the knee in the United States, according to the Arthritis Foundation.
The hospitals segment dominates the global endoprosthesis market during the forecast period.
Based on the end-user, the global endoprosthesis market is segmented into hospitals, ambulatory surgical centers, and clinics. Among these, the hospitals segment dominates the global endoprosthesis market during the forecast period. Hospitals, which are the primary hubs for intricate medical procedures and treatments, account for a sizeable portion of the market's customers. They offer a variety of orthopedic surgeries using endoprostheses, along with specialized surgical facilities equipped to handle these treatments.
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North America dominates the market with the highest market share over the forecast period.
North America dominates the market with the highest market share over the forecast period. The growing number of elderly people and the increasing prevalence of cardiovascular illnesses in North America are blamed for the market's growth. Over the course of the projection period, the area is expected to continue to dominate due to several factors, including advantageous reimbursement policies, rising incidence of rheumatoid arthritis and osteoarthritis, well-established healthcare facilities, and a high rate of adoption of cutting-edge technological equipment. Over the anticipated period, these elements propel the endoprosthesis market in the North America region.
Asia-Pacific region is expected to grow rapidly during the forecast period. The expansion of the Asia Pacific market can be ascribed to the growing consciousness of endoprosthesis implants and the improvement of healthcare infrastructure in developing nations like China and India. As a result, it is anticipated that local market expansion can rise in step with rising healthcare costs and hospital visits. In addition, the endoprosthesis market in India grew at the fastest rate in the Asia-Pacific region, while the endoprosthesis market in China held the largest market share. Over the anticipated period, these elements propel the endoprosthesis market in the Asia Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global endoprosthesis market are Zimmer Biomet Holdings Inc., Smith & Nephew, Medacta International SA, MicroPort Orthopedics, Inc., B. Braun Melsungen AG, Johnson & Johnson Services, Inc., Stryker, Corin Ltd, Exactech, inc., Baumer S.A., Medtronic, BD, Abbott Laboratories, Boston Scientific, and Other Key Players.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global endoprosthesis market based on the below-mentioned segments:
Global Endoprosthesis Market, By Product
- Knee
- Hip
- Shoulder
- Elbow
- Finger/Hand
- Ankle/Foot
Global Endoprosthesis Market, By End-User
- Hospitals
- Ambulatory Surgical Centers
- Clinics
Global Endoprosthesis Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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