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Endoprosthesis Market Size, Share, and Analysis, By Body Part (Knee, Hip, Shoulder, Elbow, Finger/Hand, Ankle/Foot), By End User (Hospitals & ASC’s, Specialty Clinics, Others) and Regional Forecasts, 2022-2032
Endoprosthesis Market size was USD 18.33 billion in 2021 and projected to grow from USD 22.9 billion in 2023 to USD 63.7 billion by 2032, exhibiting a CAGR of 12.0% during the forecast period.
Endoprosthesis, belonging to the trauma surgery and orthopedics field, is a procedure used to replace joints in the human body, which have lost functionalities either through disease or injury whole or in part with the implant. The material employed is not biological to the body, yet it is friendly with the tissues for implantation in the body. It is mainly used for fractures, degenerative joint conditions, and tumors.
Endoprosthesis Market is expected to reach USD 63.7 billion, growing at a CAGR of 12.0% during the forecast period owing to the technological improvements in endoprosthesis instruments or devices and rising awareness regarding endoprosthesis among public. A few additional factors influencing the growth of the global market include the increased prevalence of cardiovascular disorders and the occurrence of orthopaedic injuries.
Endoprosthesis Market is classified based on the Body Part into Knee, Hip, Shoulder, Elbow, Finger/Hand, and Ankle/Foot. The Knee segment registered a major market share in the past year and is projected to lead over the forecast period. This can be attributed to the increasing obesity rate and the fast aging population. In developed countries, the annual cases of osteoarthritis (knee) is higher in people aged 55 – 64, hence the segment growth.
Endoprosthesis Market is classified based on the End User into Hospitals & ASC’s, Specialty Clinics, and Others. Hospitals and ASC’s are the major end user segment where different surgeries are performed with endoprosthesis implants. These hospitals include multi-specialty hospitals, for-profit hospitals, and hospital networks working with public and private organizations. Increased funding in healthcare infrastructure are likely to drive growth in the segment over the forecast period.
Growing Mechanical Progresses and Increasing Cases of Osteoarthritis among the Geriatric Population are Expected to Boost the Market Growth
The growing prevalence of osteoarthritis among the older population, technical advancements in endoprosthesis gadgets enabling successful treatment, and rising public awareness are all factors driving the worldwide Endoprosthesis Market. Furthermore, the rising prevalence of orthopedic illnesses and peripheral vascular diseases is expected to drive the Endoprosthesis Market throughout the forecast period.
Growing Awareness Regarding Endoprosthesis among Populace is Expected to Boost the Market Growth
The growing awareness of endoprosthesis among individuals, as well as the increasing frequency of orthopaedic problems and peripheral vascular diseases, are driving the global market growth. Furthermore, increased orthopaedic injury frequency and cardiovascular disease prevalence are boosting the Endoprosthesis Market growth.
High Expenses Associated with Endoprosthesis and Lack of Healthcare Infrastructure to Restrain the Market Growth
Unfavorable effects and significant costs associated with endoprosthesis, and shortage of healthcare infrastructure as well as affordability in emerging nations, are expected to impede the development of the Endoprosthesis Market in the future.
Endoprosthesis Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America held a major market share in the past years and is expected to dominate the global Endoprosthesis Market in the forecast years owing to the fast adoption of technologically improved healthcare items. Due to improved health infrastructure and favorable reimbursement guidelines in specific countries, the global Endoprosthesis Market is expected to increase in Asia Pacific and Europe.
Due to the high number of COVID patients during the COVID-19 pandemic, the Endoprosthesis Market saw a substantial slowdown, and significant reduction in scope for other therapies was witnessed like endoprosthesis surgeries in North America. However, the start of large-scale immunization programs in 2021 loosened the travel restrictions and lockdown, allowing operations in healthcare units to resume, resulting in a rise in orthopedic implant surgeries.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 12.0% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Body Part |
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End User |
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By Region |
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Endoprosthesis Market size was estimated at USD 18.33 billion in 2021 and is expected to reach USD 63.7 billion in 2032.
Endoprosthesis, belonging to the trauma surgery and orthopedics field, is a procedure used to replace joints in the human body, which have lost functionalities either through disease or injury whole or in part with the implant.
Knee and Hospitals and ASC’s segments accounted for the largest Endoprosthesis Market share.
Key players: Johnson and Johnson Services Inc., B.Braun SE, Boston Scientific Corp., Zimmer Biomet Holdings Inc., Smith and Nephew plc, Gore Medical, Wright Medical Group NV, Medacta International SA, Exactech, Corin Group, Limacorporate SpA, Trulife, Acumed, College Park Industries, TIPSAN TIBBI ALETLER, and Other Prominent Players are the key players in the Endoprosthesis Market.
Technological improvements in Endoprosthesis instruments or devices and rising cases of cardiovascular diseases and orthopedic injuries are the factors driving the Endoprosthesis Market.
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