Orthopedic Joint Replacement Market Report 2024 (Global Edition)

Global Orthopedic Joint Replacement Market Report 2024 Market Size Split by Product (Knee, Hip, Ankle, Shoulder, Others), by Procedure (Total Replacement, Partial Replacement, Others), by Gender (Men,...

Orthopedic Joint Replacement Market Report Description

We have various report editions of Orthopedic Joint Replacement Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Orthopedic Joint Replacement Market Insights Video

Competitive Landscape of the Orthopedic Joint Replacement Market

The competitive landscape of the orthopedic joint replacement market is characterized by the presence of several key players, including Johnson & Johnson, Stryker, and Zimmer Biomet. These companies invest heavily in research and development to innovate and enhance surgical techniques and implant technologies. Strategic partnerships, mergers, and acquisitions further bolster their market positions. Additionally, the focus on minimally invasive procedures and personalized implants drives competition. Emerging players are also entering the market, intensifying competition and fostering advancements in orthopedic solutions.

In January 2022, Smith+Nephew broadened the use of its CORI Surgical System, a handheld robotic solution for total hip arthroplasty (THA). Their RI. HIP NAVIGATION is developed to enhance precision and consistency by providing patient-specific component alignment during THA procedures. (Source: https://www.smith-nephew.com/en/news/2022/01/26/20220126-expands-next-generation-handheld-robotic-assisted-cori-surgical-system-into-total-hip) In November 2022, Exactech obtained 510(k) clearance from the US FDA for its TriVerse primary knee system. This system was developed to enhance surgical efficiency in both hospitals and surgical centers, offering options for crossed, anteriorly stabilized, and posteriorly stabilized designs. (Source: https://www.exac.com/wp-content/uploads/2022/11/Exactech-Announces-FDA-510k-Clearance-of-the-TriVerse-Primary-Knee-Replacement-System-1.pdf) In June 2023, The Asian Orthopaedic Institute (AOI) at SIMS Hospital in Chennai, India, introduced a dedicated hip surgery unit along with four new advanced technology services. (Source: https://simshospitals.com/wp-content/uploads/2023/06/For-the-first-time-in-India-Asian-Orthopaedic-Institute-at-SIMS-Hospital-opens-a-Cutting-edge-Comprehensive-360%C2%B0-Hip-Surgery-facility-and-four-new-advanced-technology-services.-%E2%80%93-News360d.pdf)

Top Companies Market Share in Orthopedic Joint Replacement Industry: (In no particular order of Rank)

• Johnson & Johnson (DePuy Synthes)
• Stryker Corporation
• Zimmer Biomet Holdings
• Inc.
• Smith & Nephew plc
• Medtronic plc
• B. Braun Melsungen AG
• NuVasive
• Inc.
• Otto Bock Healthcare GmbH
• Aesculap Implant Systems
• LLC
• Tornier
• Inc. (Part of Wright Medical Group N.V.)
• Exactech
• Inc.
• Arthrex
• Inc.
• Corin Group plc
• MicroPort Scientific Corporation
• Orthofix Medical Inc.
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Orthopedic Joint Replacement Market

Which Region Dominates the Orthopedic Joint Replacement Market in 2024?

According to Cognitive Market Research, North America currently dominates the Orthopedic Joint Replacement market, and the region is expected to have significant growth during the projected period. This is due to the region's well-established healthcare infrastructure, high healthcare expenditure, and advanced medical technologies. Additionally, the rising prevalence of orthopedic disorders among the aging population increases demand for joint replacement surgeries. Strong reimbursement policies and greater patient awareness of treatment options also contribute. Furthermore, leading market players are headquartered in North America, enhancing innovation and accessibility to orthopedic solutions.

Which Region is Expanding at the Fastest CAGR?

The Asia Pacific region is growing at the fastest CAGR in the orthopedic joint replacement market due to several factors, including a rapidly aging population and rising prevalence of orthopedic disorders. Increased disposable income and improved healthcare infrastructure have made joint replacement surgeries more accessible. Additionally, government initiatives to enhance healthcare services and growing awareness of advanced medical treatments contribute to market growth. The rise of medical tourism in countries like India and Thailand further accelerates the demand for orthopedic procedures in the region.

The current report Scope analyzes Orthopedic Joint Replacement Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Orthopedic Joint Replacement

According to Cognitive Market Research, the global Orthopedic Joint Replacement market size was estimated at USD 251903.9 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 10045.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Orthopedic Joint Replacement market with a market size of USD 7926.04 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. The U.S. market's an aging population and increasing prevalence of orthopedic conditions such as arthritis is driving the Orthopedic Joint Replacement market.
• The Canada Orthopedic Joint Replacement market had a market share of USD 1205.48 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. Canada’s increasing awareness about joint health is driving the Orthopedic Joint Replacement market.
• The Mexico Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 914.16 million in 2024.

Europe Orthopedic Joint Replacement

According to Cognitive Market Research, the global Orthopedic Joint Replacement market size was estimated at USD 251903.9 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 7534.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

• The United Kingdom Orthopedic Joint Replacement market had a market share of USD 1265.76 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. In the UK, Orthopedic Joint Replacement sales witness an upswing due to an aging population and a rising incidence of orthopedic disorders, particularly osteoarthritis driving demand for high-quality Orthopedic Joint Replacements.
• The France Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 693.15 million in 2024.
• According to Cognitive Market Research, the German Orthopedic Joint Replacement market size was valued at USD 1491.78 million in 2024 and is projected to grow at a CAGR of 6.7% during the forecast period. In Germany, Orthopedic Joint Replacement surged due to presence major market players.
• The Italy Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 5.9% during the forecast period, with a market size of USD 647.95 million in 2024.
• The Russia Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 1167.81 million in 2024.
• The Spain Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD 617.81 million in 2024
• The Luxembourg Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 233.56 million in 2024.
• The Portugal Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 158.22 million in 2024.
• The Greece Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 90.41 million in 2024.
• The Rest of Europe's Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 1167.81 million in 2024.

Asia Pacific Orthopedic Joint Replacement

According to Cognitive Market Research, the global Orthopedic Joint Replacement market size was estimated at USD 251903.9 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 5776.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Orthopedic Joint Replacement market size was valued at USD 2599.32 million in 2024 and is projected to grow at a CAGR of 9.5% during the forecast period. Orthopedic Joint Replacement surged in China due to rising geriatric populations and increasing prevalence of orthopedic diseases, particularly osteoarthritis.
• The Japan Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 797.12 million in 2024.
• The India Orthopedic Joint Replacement market had a market share of USD 693.15 million in 2024 and is projected to grow at a CAGR of 11.8% during the forecast period. India's advanced surgical techniques is driving the Orthopedic Joint Replacement market.
• The South Korean Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 9.1% during the forecast period, with a market size of USD 577.63 million in 2024.
• The Australian Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 300.37 million in 2024.
• The South East Asia Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 11.0% during the forecast period, with a market size of USD 398.56 million in 2024.
• The Rest of Asia Pacific Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 410.11 million in 2024.

South America Orthopedic Joint Replacement

According to Cognitive Market Research, the global Orthopedic Joint Replacement market size was estimated at USD 251903.9 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 1255.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Orthopedic Joint Replacement market size was valued at USD 537.44 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period. Orthopedic Joint Replacement flourished in Brazil due to increasing aging population and a rise in chronic conditions such as obesity and arthritis.
• Argentina's Orthopedic Joint Replacement market had a market share of USD 210.96 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. Argentina's expanding healthcare budgets is driving the Orthopedic Joint Replacement market.
• Colombia Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 111.76 million in 2024.
• Peru Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 102.97 million in 2024.
• Chile Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 90.41 million in 2024.
• The Rest of Latin America's Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 202.17 million in 2024.

Middle East and Africa Orthopedic Joint Replacement

According to Cognitive Market Research, the global Orthopedic Joint Replacement market size was estimated at USD 251903.9 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 502.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031..

• The GCC Countries Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 214.98 million in 2024. Orthopedic Joint Replacement sales flourish due to the presence of major market players.
• The Egypt Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 52.74 million in 2024.
• The South Africa Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 79.36 million in 2024. Orthopedic Joint Replacement sales flourished in South Africa due to rising prevalence of orthopedic conditions, driven by increasing obesity rates and an aging population.
• The Turkey Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 43.20 million in 2024.
• The Nigeria Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 52.74 million in 2024.
• The Rest of the MEA Orthopedic Joint Replacement market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 59.27 million in 2024.

Orthopedic Joint Replacement Market Analysis

Orthopedic Joint Replacement Market Product Segment Analysis

According to Cognitive Market Research, Knee are likely to dominate the Orthopedic Joint Replacement Market over the forecast period. Knee products captured the largest market share in the orthopedic joint replacement market due to the high prevalence of knee-related disorders, such as osteoarthritis and rheumatoid arthritis. The knee joint is particularly susceptible to wear and tear from aging, obesity, and active lifestyles, leading to increased surgical interventions. Advances in knee implant technologies, such as minimally invasive techniques and custom-fit solutions, have improved patient outcomes and satisfaction. Additionally, the growing awareness of the benefits of knee replacement surgeries drives demand for these products significantly.

Hip products are growing at the highest CAGR in the orthopedic joint replacement market due to the increasing incidence of hip-related disorders, particularly among the aging population. Conditions such as osteoarthritis and fractures from falls contribute to the rising demand for hip replacements. Advances in surgical techniques and implant designs, including minimally invasive options, enhance recovery times and patient outcomes. Additionally, growing awareness and acceptance of hip replacement surgeries as effective treatment options further propel market growth in this segment.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Orthopedic Joint Replacement Industry. Request a Free Sample PDF!

Orthopedic Joint Replacement Market Procedure Segment Analysis

According to Cognitive Market Research, the Total Replacement segment holds the largest share of the market. Total replacement procedures captured the largest market share in the orthopedic joint replacement market due to their effectiveness in alleviating severe pain and restoring function in patients with extensive joint damage. These procedures, especially for hips and knees, provide long-lasting solutions for degenerative conditions. The rising prevalence of chronic orthopedic disorders and advancements in surgical techniques have improved outcomes and increased patient satisfaction. Furthermore, growing awareness of the benefits of total joint replacements drives demand, solidifying their position as the preferred treatment option.

Partial replacement procedures are growing at the highest CAGR in the orthopedic joint replacement market due to their minimally invasive nature and quicker recovery times compared to total replacements. These procedures are increasingly favored for patients with localized joint damage, allowing for better preservation of healthy bone and tissue. The rise in patient awareness regarding treatment options and advancements in implant technology further contribute to this growth. Additionally, partial replacements often have lower costs and reduced surgical risks, making them an appealing choice for many patients.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Orthopedic Joint Replacement Gender Segment Analysis

Orthopedic Joint Replacement Market Gender Segment Analysis

According to Cognitive Market Research, the Men segment holds the largest share of the market. The male gender captured the largest market share in the orthopedic joint replacement market due to a higher prevalence of orthopedic disorders among men, often related to factors such as higher rates of injuries from physical activities and sports. Men are also more prone to conditions like osteoarthritis, particularly in weight-bearing joints. Additionally, lifestyle factors, including obesity and a tendency toward more strenuous physical labor, contribute to the demand for joint replacement surgeries. Increased awareness of treatment options further drives this market segment.

Women are experiencing the highest CAGR in the orthopedic joint replacement market due to several factors, including the increasing prevalence of osteoporosis and osteoarthritis among older women. Hormonal changes after menopause contribute to bone density loss, leading to a higher incidence of joint-related issues. Additionally, greater awareness of treatment options and advancements in surgical techniques have made joint replacements more accessible for women. Social and lifestyle changes, along with increased participation in physical activities, are also driving the demand for joint replacement procedures among women.

• Men
• Women

Orthopedic Joint Replacement Age Segment Analysis

Orthopedic Joint Replacement Market Age Segment Analysis

According to Cognitive Market Research, the 45 to 60 Years segment holds the largest share of the market. The age group of 45 to 60 years captured the largest market share in the orthopedic joint replacement market due to the increasing prevalence of degenerative joint conditions, such as osteoarthritis, within this demographic. As individuals age, wear and tear on joints leads to pain and functional limitations, prompting the need for surgical intervention. Additionally, lifestyle factors, including obesity and physical activity levels, contribute to joint issues. Increased awareness of treatment options and improved surgical outcomes further drive demand for joint replacements in this age group.

The age group of 60 to 75 years is growing at the highest CAGR in the orthopedic joint replacement market due to the increasing prevalence of age-related degenerative diseases such as osteoarthritis and rheumatoid arthritis. As the population ages, more individuals within this demographic experience joint pain and mobility issues, leading to a higher demand for surgical interventions. Advances in surgical techniques and implant technologies have improved outcomes, making joint replacement surgeries more appealing. Additionally, rising awareness of treatment options contributes to this growth trend among older adults.

• Below 30 Years
• 30 to 45 Years
• 45 to 60 Years
• 60 to 75 Years
• Above 75 Years

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

LinkedIn

Profile

Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

Author's Conclusion