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The expansion of the endoprosthesis market finds its roots in several significant contributing factors. One pivotal driver is the escalating incidence of orthopedic injuries among individuals, prompting a growing demand for effective solutions like endoprosthesis. This rising trend in orthopedic injuries, whether due to accidents, sports-related mishaps, or age-related conditions, amplifies the necessity for reliable and advanced treatment options, thereby propelling the demand for endoprosthesis devices.
A key catalyst in the market's growth trajectory is the continuous influx of technological advancements within the realm of endoprosthesis devices. Ongoing innovations in materials, design, and implantation techniques are revolutionizing these devices, enhancing their durability, functionality, and compatibility with the human body. These technological strides not only improve patient outcomes but also foster increased confidence and acceptance among both patients and healthcare providers, consequently driving market growth.
Moreover, the increasing awareness and knowledge among the population regarding orthopedic conditions and available treatment options significantly contribute to the surge in demand for endoprosthesis devices. Patients are becoming more proactive in seeking solutions that offer improved mobility, reduced pain, and enhanced quality of life. This heightened awareness, coupled with a desire for better healthcare outcomes, fuels the inclination toward endoprosthesis as a viable treatment choice, thereby bolstering market growth.
However, while these factors collectively contribute to the market's expansion, challenges such as cost considerations, implant longevity, and surgical complexities might temper the growth to some extent. Addressing these challenges through continued innovation, cost-effective solutions, and enhanced patient education will be crucial in sustaining the market's growth trajectory.
In essence, the growth of the endoprosthesis market is underpinned by a convergence of factors, ranging from the increasing incidence of orthopedic injuries to technological advancements and heightened patient awareness. Embracing these opportunities while addressing associated challenges will be instrumental in not only driving market growth but also in meeting the evolving needs and expectations of patients seeking effective orthopedic solutions through endoprosthesis devices.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 9.2 Billion |
| Market Size Value In 2023 | USD 10.23 Billion |
| Growth Rate | 11.20% (2023-2032) |
Endoprosthesis Market Highlights:
Global Endoprosthesis Market Overview
Endoprosthesis Market Size was valued at USD 9.2 billion in 2022. The endoprosthesis market industry is projected to grow from USD 10.23 billion in 2023 to USD 23.918 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.20% during the forecast period (2023 - 2032). Major market drivers anticipated to fuel demand for endoprosthesis over the forecast period include the rising incidence of chronic diseases like cancer, heart disease, and arthritis and rising healthcare expenditures by governments and private players.Â
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Endoprosthesis Market Trends
- Age-Related Osteoarthritis Is Driving the Market Growth
Endoprosthesis is used in numerous orthopedic treatments, including those on the joints, femur, and other parts. One of the key drivers of the growth of market's CAGR is the rising proportion of senior people who suffer from orthopedic disorders like osteoarthritis. For instance, osteoarthritis, which appears in numerous body parts, is typical in the aging population. According to the World Population Aging 2020, there were 727 million persons 65 and over in the world in 2020, and by 2050, that number is projected to increase to 1.5 billion. Therefore, it is anticipated that the number of orthopedic issues will rise in the years to come, fueling market expansion. Additionally, the World Health Organisation lists degenerative joint disease and osteoarthritis as two of the ten most incapacitating diseases in many developing countries. 9.6% of men and 18.0% of women over 60 are estimated to have asymptomatic osteoarthritis, respectively. In addition, 25% of those with osteoarthritis cannot execute most of their daily chores, and 80% of those with the condition have mobility problems. As a result of these factors, it is anticipated that the need for endoprosthesis to treat this illness and others like it would increase.
Furthermore, due to government initiatives to conduct research studies focused on endoprosthesis, the growing elderly population at risk for various joint disorders, and technological advancements in endoprosthesis treatment methods, emerging markets are anticipated to offer potential growth opportunities for endoprosthesis market players. Significant market participants are implementing strategies like mergers and acquisitions, launching new products to diversify their offerings, and working with niche players. For instance, in January 2021, Stryker (US) purchased OrthoSensor, a business specializing in using big data and digital technology for total joint replacements. With this, the company focuses on developing cutting-edge, smart sensor technologies, including wearables, implants, and intraoperative sensors, to expand its product line. Thus, driving the endoprosthesis market revenue.
Endoprosthesis Market Segment Insights
Endoprosthesis Product Insights
The endoprosthesis market segmentation, based on product includes Knee, Hip, Shoulder, Elbow, Finger/Hand and Ankle/Foot. The knee segment dominated the market. During the forecast period, there will be an increase in demand for knee replacement surgeries due to the rapidly aging population and the alarming obesity rate. The age group between 55 and 64 years old has the highest annual incidence of knee osteoarthritis in the US, according to the Arthritis Foundation.
Figure 1: Endoprosthesis Market, by Product, 2022 & 2032 (USD billion)Â
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Endoprosthesis Knee Insights
The endoprosthesis market segmentation, based on the knee, includes Primary, Partial, Revision Knee Replacement, Tumor, and Custom Made. The revision knee replacement category generated the most income. Knee replacement surgery uses metal, high-density polyethylene, or ceramic implants to replace a damaged or worn-out knee joint. The damaged kneecap, shinbone, and thighbone are removed during the procedure and with cartilage. Then, an artificial joint is put in their place. Due to how simple it is for them to carry out daily activities after knee replacement surgery, people elect to have it done.
Endoprosthesis Hip Insights
The endoprosthesis market segmentation, based on hip, includes Primary, Partial, Revision Hip Replacement, Tumor, and Custom Made. The revision hip replacement category generated the most income. The growth in the prevalence of hip osteoarthritis among the elderly population and the increased knowledge among patients regarding prostheses in orthopedic injuries are two reasons driving the worldwide endoprosthesis market for hip replacement.
Endoprosthesis Shoulder Insights
The endoprosthesis market segmentation, based on shoulder, includes Primary, Revision Shoulder Replacement, Tumor, and Custom Made. The revision shoulder replacement category generated the most income. The healthy shoulder joint has the widest range of motion of any joint. It permits motions and rotations in a variety of directions. Humans need it to use their hands and arms efficiently.
Endoprosthesis Elbow Insights
The endoprosthesis market segmentation, based on elbow, includes Total Elbow, Radial Head Replacement, Tumor, and Custom Made. The radial head replacement category generated the most income. Elbow replacement is a less common procedure than knee or hip replacement. However, it works just as well at reducing joint pain and allowing people to resume their regular activities.
Endoprosthesis Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American endoprosthesis market area will dominate this market. Several factors, including favorable reimbursement policies, rising rates of rheumatoid arthritis and osteoarthritis, well-established healthcare facilities, and a high adoption rate for technologically advanced devices, are expected to contribute to the region's projected continuation of dominance over the forecast period. Additionally, it is anticipated that growth will be fueled by the rising geriatric population, susceptible to several joint diseases.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ENDOPROSTHESIS MARKET SHARE BY REGION 2022 (%)Â
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe endoprosthesis market accounts for the second-largest market share. The increase in the elderly population, the frequency of joint problems, and the region's enhanced healthcare infrastructure are all factors in the market expansion. Further, the German endoprosthesis market held the largest market share, and the UK endoprosthesis market was the fastest growing market in the European region.
The Asia-Pacific Endoprosthesis Market is expected to grow at the fastest CAGR from 2023 to 2032 because there will probably be a considerable rise in the number of older individuals during the next 50 years. In recent years, the region's healthcare infrastructure has also attracted a lot of attention, which propels the market's growth even more. As a result, as healthcare spending and the number of hospitals increase, so will market growth in the region. Moreover, China’s endoprosthesis market held the largest market share, and the Indian endoprosthesis market was the fastest growing market in the Asia-Pacific region.
Endoprosthesis Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the endoprosthesis market, grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including contractual agreements, mergers and acquisitions, new product launches, higher investments, and collaboration with other organizations. The endoprosthesis industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the endoprosthesis industry to benefit clients and increase the market sector. In recent years, the endoprosthesis industry has offered some of the most significant advantages to medicine. Major players in the endoprosthesis market attempting to increase market demand by investing in research and development operations include Johnson & Johnson Services, Inc. (US), Zimmer Biomet Holdings Inc. (US), Stryker (US), Smith & Nephew (UK), Corin Ltd (UK), Medacta International SA (Switzerland), Exactech, inc. (US), MicroPort Orthopedics, Inc. (US), Baumer S.A. (Switzerland), and B. Braun Melsungen AG (Germany).
Exactech is a multinational medical device firm that creates and sells the Active Intelligence platform of smart technologies, related surgical tools, and orthopedic implant devices to hospitals and doctors. It creates, produces, promotes, and distributes orthopedic implant devices and associated surgical equipment. The business offers replacement solutions for hip, knee, extremities, foot, ankle, and biologic materials. Exactech caters to clients all over the world. In August 2021, Exactech Inc. added a novel porous-coated implant option to its Truliant complete knee system. The business strengthened its basis of cutting-edge material science with the Truliant Porous Knee. With the right amount of porosity and pore size, the novel solution replicates the trabecular structure of cancellous bone.
A manufacturer of various orthopedic, medical, surgical, neurotechnology, spine equipment, and related services, Stryker Corp (Stryker) is a leader in medical technology. The company's main goods include orthopedic implants, surgical tools and navigation systems, patient handling tools, disposable intensive care items, and endoscopic and communication systems. Additionally, it offers medical devices for use in a range of conditions as well as neurosurgical equipment, neuromuscular, and spinal devices. In May 2021, OrthoSensor, Inc., a leader in the digital development of musculoskeletal care and sensor technology for total joint replacement, was bought by Stryker (US).
Key Companies in the endoprosthesis market include
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Johnson & Johnson Services, Inc. (US)
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Zimmer Biomet Holdings Inc. (US)
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Stryker (US)
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Smith & Nephew (UK)
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Corin Ltd (UK)
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Medacta International SA (Switzerland)
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Exactech, inc. (US)
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MicroPort Orthopedics, Inc. (US)
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Baumer S.A. (Switzerland)
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B. Braun Melsungen AG (Germany)
Endoprosthesis Industry Developments
April 2022:Using the M.U.S.T Pedicle Screw System in conjunction with NextAR Spine, an AR-based surgical application with intraoperative guidance in spine surgery, and receiving CE and FDA clearance, Medacta International SA announced the successful completion of the first lumbar fusion procedure in the United States.
June 2019:The Superion Indirect Decompression System, designed to enhance mobility and lessen pain in people with lumbar spinal stenosis (LSS), was created by Vertiflex, a business that Boston Scientific acquired.
Endoprosthesis Market Segmentation
Endoprosthesis Product Outlook
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Knee
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Hip
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Shoulder
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Elbow
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Finger/Hand
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Ankle/Foot
Endoprosthesis Knee Outlook
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Primary
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Partial
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Revision Knee Replacement
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Tumor
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Custom Made
Endoprosthesis Hip Outlook
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Primary
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Partial
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Revision Hip Replacement
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Tumor
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Custom Made
Endoprosthesis Shoulder Outlook
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Primary
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Revision Shoulder Replacement
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Tumor
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Custom Made
Endoprosthesis Elbow Outlook
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Total Elbow
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Radial Head Replacement
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Tumor
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Custom Made
Endoprosthesis Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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