The joint reconstruction devices market is projected to surpass $21.5 billion by 2024, according to a Global Market Insights report.
1. The increase of joint replacement procedures in North America will drive the market in the forecast period. Currently, Americans account for 85 percent of the total joint reconstruction and replacement market.
2. As the geriatric population in Asia Pacific countries grows, there will be greater demand for joint reconstruction devices, boosting the market.
3. Within the joint reconstruction devices market, hip replacement reconstruction devices were valued at more than $6.6 billion in 2017. This number is expected to grow during the forecast period.
4. Through 2024 the shoulder replacement reconstruction devices market is estimated to grow at a 3.6 percent compound annual growth rate.
5. Key market players include Stryker, Zimmer Biomet, Medtronic, Smith & Nephew and DePuy Synthes.