Joint Replacement Devices Market

The global joint replacement devices market is projected to grow USD 31.09 billion in 2030 from USD 23.42 billion in 2024, at a CAGR of 4.8% from 2024 to 2030. Rising investments in advancing technology, expansion of investment and new business opportunities in emerging countries, and rise in the population suffering from orthopedic diseases, as well as the elderly age group, will lead to growth of the joint replacement devices market. Older population are more likely to experience orthopedic conditions such as osteoarthritis, osteoporosis, and fractures. Changes in the age structure have led to an increased need for orthopedic implants that enhance mobility and quality of life for affected individuals. In addition to the gradual expansion of the market, there has been an increase in orthopaedic procedures and growing awareness of the advantages of orthopaedic surgery.

The joint replacement devices market is consolidated. As of 2023, the key players operating in the global joint replacement devices market are Zimmer Biomet Holdings, Inc. (US), Stryker Corporation (US), Johnson & Johnson MedTech (US), Smith+Nephew (UK), B.Braun (Germany). In 2023, Zimmer Biomet Holdings, Inc. (US), Stryker Corporation (US), Johnson & Johnson MedTech (US) held a significant share of the joint replacement devices market. These players have adopted key strategies such as acquisitions, partnerships, and expansions in the last four to five years that contributed to their position in the joint replacement devices market.

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Stryker Corporation (US)

Stryker Corporation is among the leading companies in the global joint replacement devices market. The organization has a robust presence in the global market including regions like Europe, North America, the Middle East, Africa, and the Asia Pacific. The company its brand presence in more than 75 countries across the global market. The company provides joint replacement devices through its Orthopaedics & Spine division business segment. The company focuses on improving its product portfolio and making new additions to the same. It focuses on innovation and offers unique products to sustain its leading position in the market. The company also focuses on R&D and bring technologically advanced products in the market for its customers addressing their unmet needs.

Zimmer Biomet Holdings, Inc. (US)

Zimmer Biomet  is one of the leading companies in the joint replacement devices market. It is involved in the manufacturing and marketing of a range of medical devices and related products in healthcare industry. The company offers joint replacement devices through its Knees, Hips, and S.E.T segments. The company holds a robust presence across multiple countries such as Germany, France, Italy, Switzerland, Spain, the UK, Japan, South Korea, China, Australia, New Zealand, Taiwan, India, Hong Kong, Thailand, Singapore, and Malaysia. Also, the company distributes its products across Central & Eastern Europe, Benelux, Nordic, and the Middle East & Africa. Zimmer Biomet maintains a strong product portfolio, has a robust brand value among joint replacement devices end users, and strong R&D capabilities.

Johnson & Johnson MedTech (US)

Johnson & Johnson MedTech is an another major player operating in the joint replacement devices market. The company is involved in the manufacturing, R&D, and marketing of joint replacement devices and other healthcare products globally. It offers joint replacement devices under the MedTech business unit. The company is dedicated to offering technologically advanced products focused on enhancing clinical outcomes.  The company made a collaboration with CrossRoads Extremity Systems (US) with an aim to improve orthopaedic care with new and innovative ideas, hoping to give patients enhanced health results. The company holds a remarkable market share in more than 60 countries across diverse territories such as Asia Pacifi,  North America, Middle East & Africa, and Europe.

Related Reports:

Joint Replacement Devices Market by Product (Knee, Hip, Shoulder, Ankle, Elbow, Wrist, Bone Grafts), Surgery (Total, Partial, Revision), Type(Cemented, Cementless, Hybrid), Procedure type, End user (Hospitals, ASC, Trauma, Clinic) - Global Forecast to 2030

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