Why will Small Joint Reconstructive Implants Market Boom in Asia-Pacific in Coming Years?

Due to the increasing prevalence of arthritis across the world, soaring geriatric population in several countries, and rising incidence of osteoporosis, the valuation of the global small joint reconstructive implants market will rise from $7.4 billion to $10.1 billion from 2018 to 2024. The market will advance at a CAGR of 5.5% between 2019 and 2024, according to the estimates of P&S Intelligence, a market research firm based in India.

Browse In-depth Small Joint Reconstructive Implants Market Companies’ Strategic Developments

A similar situation is also observed in the European nations. The National Rheumatoid Arthritis Society of Europe carried out a study in 2017 which said that the incidence of rheumatoid arthritis was observed in almost 20 to 50 persons out of every 100,000 people in the various European nations. Besides the growing incidence of arthritis, the increasing geriatric population is also fuelling the progress of the small joint reconstructive implants market throughout the globe, because of the fact that the older people are more vulnerable to rheumatic diseases.

Depending on material, the market is divided into polymer and metal categories. Of these, the polymer category is predicted to register faster growth in the market in the future years. This is credited to the fact that the polymer implants are biocompatible in nature and rarely cause infections or side-effects in patients. However, the metal category will dominate the market in future, on account of the lower costs of the metallic implants than the polymer ones.

There are two main categories present under the end user segmentation in the small joint reconstructive implants market namely ambulatory surgical centers (ASCs) and hospitals. Between the two categories, the hospitals category will demonstrate higher growth in the market in the forthcoming years. This is attributed to the presence of a large patient pool suffering from various joint-related problems and ailments and the growing number of osteopathic surgical procedures being conducted in hospitals across the world.

The biggest rage presently being witnessed in the small joint reconstructive implants market is the mushrooming number of collaborations and acquisitions amongst the companies providing such products. For instance, Smith & Nephew plc acquired the orthopedic joint reconstruction business of Brainlab in June 2019, in order to increase its presence in advanced technologies, such as robotic ecosystems and multi-asset digital surgery. Similarly, Colfax Corporation completed the acquisition of DJO Global Inc., which is a manufacturing company of small joint implants, in February 2019.

Globally, the highest demand for small-joint reconstructive implants is expected to be observed in North America during the forecast period, while the fastest growth in their usage would be in Asia-Pacific (APAC). The latter is primarily ascribed to the surging healthcare expenditure in this region and the increasing ability of the people to access better and advanced healthcare facilities. Additionally, the prevalence of bone injuries due to sports or road accidents is also rising in the region. Moreover, more and more people are becoming older, which is leading to a higher footfall at the orthopedic department of regional hospitals, for reconstruction surgery.

Hence, it can be concluded that the market will register substantial growth all over the world in the upcoming years, primarily because of the rising prevalence of arthritis and various rheumatic diseases, increasing geriatric population, and growing incidence of road accidents across the world.

Contact: P&S Intelligence Toll-free: +1-888-778-7886 (USA/Canada) International: +1-347-960-6455 Email: enquiry@psmarketresearch.com Web: https://www.psmarketresearch.com