The Endoprosthesis Market is expected to grow at a CAGR of 12.94% to reach USD 23.2 billion by 2028. The Endoprosthesis Market is witnessing a significant shift towards advanced 3D-printed bionic prosthetics. These innovative devices offer enhanced functionalities such as muscle movement detection and haptic feedback, in addition to conventional features like beepers, buttons, and lights. Notably, Ossur hf, a leading UK-based company, unveiled an upgraded version of its Hero Arm in November 2020. This 3D-printed bionic arm incorporates metal gears to offer affordable prices without compromising on quality. The burgeoning popularity of 3D-printed prosthetics is poised to fuel the growth of the Endoprosthesis Market during the forecast period.
North America dominates the regional market because of The Endoprosthesis market represents a significant growth opportunity for businesses specializing in orthopedic and cardiovascular devices. These implants, which replace damaged or diseased body parts, are in high demand due to an aging population and increasing prevalence of chronic conditions. Market expansion is driven by technological advancements, rising healthcare expenditures, and a growing focus on minimally invasive procedures. Companies that innovate and deliver cost-effective, high-quality solutions will thrive in this competitive landscape.
There are various factors that drive the Endoprosthesis Market market which are as following: The global orthopedic market, driven primarily by the increasing prevalence of orthopedic diseases such as arthritis and rheumatoid arthritis, is experiencing significant growth. The aging population is a major contributing factor to this trend, as these conditions become more common with age. Osteoarthritis, one of the most prevalent forms of arthritis, is particularly impactful among older adults. According to the Centers for Disease Control and Prevention (CDC), approximately 20% of the US population will develop knee osteoarthritis during their lifetime. Of those diagnosed with symptomatic knee osteoarthritis, over 50% will progress to a stage that necessitates knee replacement.
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Endoprosthesis Market Segmentation
The market witnesses several challenges, which are as follows Endoprosthesis implants, while offering significant benefits, come with a range of complications that can negatively impact market growth. These complications include infection, implant breakage, stiffness, periprosthetic cyst formation, malignant lymphoma, pain, joint stiffness, damage to blood vessels and connective tissues, allergic reactions, osteolysis, metal debris deposition, bone erosion, silicone synovitis, embolism, and fibrous ankyloses. Device-related complications, such as breakage, dislocation, alignment deformities, loosening, fracture, migration, and early implant failure, necessitate revision surgeries. These complications pose a significant challenge to the endoprosthesis market, potentially hindering growth during the forecast period.
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Some of the key companies that have been profiled in the report include:
In accordance with Technavio's market classification, the endoprosthesis market is a significant segment within the expansive global healthcare equipment industry. This sector encompasses entities involved in the research and development (R&D) of a diverse range of product categories, such as capital equipment, instruments, implants, accessories, and consumables. The global healthcare equipment market size is determined by the consolidated revenue generated by manufacturers of diagnostic equipment and devices utilized across various therapy areas. The healthcare equipment sector is segmented into Devices, which incorporates advanced, differentiated, and clinically validated data-driven devices. - The Endoprosthesis Market is experiencing significant growth, fueled by the Increasing prevalence of orthopedic diseases and associated risk factors. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
The Endoprosthesis Market encompasses customized hip prostheses, elbow, shoulder, hip, and knee implants designed to replace or repair damaged joints in patients suffering from degenerative diseases such as osteoarthritis, joint pain, and other orthopedic conditions. With an aging population and sedentary lifestyle becoming increasingly common, the patient pool for endoprosthesis is expanding rapidly. Post-surgery assistance, including online tools and clinics, are essential for managing patient care and ensuring optimal recovery. Medicare and other health reimbursement policies play a significant role in the market's growth, particularly in developing economies. Health coverage for joint replacement surgeries, including robotic procedures, is a crucial factor driving market expansion. Risk factors like degenerative diseases and the geriatric population are significant contributors to the market's growth. Advancements in technology, such as biodegradable joint implants and 3D printing, are revolutionizing the endoprosthesis market. Additionally, the adoption of ASCs (Ambulatory Surgery Centers) and hospitals for joint replacement surgeries is increasing, providing patients with more accessible and affordable options. The elbow and shoulder segments are also gaining traction, with a growing focus on addressing the unique challenges of these joints. Overall, the endoprosthesis market is poised for significant growth in the coming years.
Technavio Research
Jesse Maida
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