Endoprosthesis Market

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.

The Global Endoprosthesis Market Industry experiences a notable surge due to the increasing prevalence of chronic diseases such as osteoarthritis and cardiovascular disorders. As populations age, the demand for joint replacements and vascular implants escalates. For instance, the World Health Organization indicates that by 2024, the market is projected to reach 11.4 USD Billion, reflecting a growing need for endoprosthetic solutions. This trend suggests that healthcare systems worldwide are prioritizing advanced surgical interventions, thereby driving innovation and investment in the endoprosthesis sector.

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 (%) 

Source: Secondary Research, Primary Research, Market Research Future 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.

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).