Joint Replacement Market Segments by Application 2028

Joint Replacement Industry Overview

The global joint replacement market size is expected to reach USD 25.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.4% from 2021 to 2028. The growing incidence of orthopedic diseases and the increasing number of the target population are boosting the market growth.

Joint Replacement Market Segmentation

Grand View Research has segmented the global joint replacement market on the basis of product, fixation type, end-use, procedure, and region:

Based on the Product Insights, the market is segmented into Knees, Hips, Extremities.

• The knee segment dominated the market for joint replacement and held the largest revenue share of over 46.0% in 2020. The segment is majorly driven by the growing geriatric populace giving an upsurge to old-age disorders such as osteoporosis, arthritis. Additionally, increasing technological advancements such as minimally invasive surgeries accompanied by the existence of improved implant materials are likely to boost the growth of the segment.
• The extremities segment is expected to grow fast over the forecast period. The field of extremity surgery and implants has been observing several technological innovations, for example, mobile-bearing ankles, reverse shoulder implants, and the advent of new and safer implant materials.

Based on the Fixation Type Insights, the market is segmented into Cemented, Cementless, Hybrid, Reverse Hybrid.

• The cemented segment dominated the market for joint replacement and held the largest revenue share of over 49.0% in 2020. Cemented fixation was found to be the best fit in older patients while cementless fixation is the best fit for younger patients. Cemented fixation has good survivorship and low revision rates as compared to other types, thus increasing the demand.

Based on the End-use Insights, the market is segmented into Hospitals, Orthopedic Clinics and Others.

• The hospitals segment dominated the market for joint replacement and held the largest revenue share of over 50.0% in 2020 owing to the presence of advanced treatment options and the increased number of patient footfall under these facilities. Hospitals are easily accessible as they are present in most locations, and hence, most of the patients prefer hospitals over other settings.
• The orthopedic clinics segment is expected to show the fastest growth over the forecast period owing to an increase in the number of sports injuries, trauma accidents, and other chronic diseases. Factors such as shorter stay duration, reduced wait times, and personalized care have increased the demand for these clinics. Furthermore, orthopedic clinics can provide cost-effective services and procedures, owing to their low-cost structure as compared to hospitals.

Based on the Procedure Insights, the market is segmented into Total Replacement, Partial Replacement, and Others.

• The total replacement segment dominated the market for joint replacement and held the largest revenue share of over 64.0% in 2020. According to the Arthritis Foundation report, the number of total hip replacements in the U.S. is projected to reach 635,000 per year by 2020.
• The others segment includes revision and resurfacing replacement. Total replacement surgery is most effective but over time if it fails to owe to numerous reasons, then revision replacement is done. Revision replacements have the similar goal to relieve discomfort and recover the function of the organ.

Joint Replacement Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Companies Profile & Market Share Insights

The market for joint replacement is fragmented with many big and small industry players. Key players are adopting business strategies including diverse product offerings, regional expansion, partnerships, and new product launches to gain market share.   

Some of the prominent players operating in the global joint replacement market include,

• Johnson & Johnson Services, Inc. (DePuy Synthes)
• Stryker
• Zimmer Biomet
• Smith+Nephew
• DJO, LLC
• Arthrex, Inc.
• Exactech, Inc.
• Conformis
• MicroPort Orthopedics
• Corin Group

Order a free sample PDF of the Joint Replacement Market Intelligence Study, published by Grand View Research.