Global Joint Replacement Market to reach USD 21.61 billion by 2027.Global Joint Replacement Market is valued approximately at USD 17.1 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 3.40% over the forecast period 2021-2027. Joint replacement surgery is performed to replace joints, which involves the complete or partial removal of the damaged joint and tissues, and replacement with new, man-made parts. Rising trend of minimally invasive surgeries are expected to fuel the demand during forecast period. Growing geriatric population, increasing prevalence of osteoarthritis and technological advancements are fueling the growth in the market. For instance, according to Statista, number of people globally aged more than 65 is estimated to reach 840 million in 2025 as compared to 524 million in 2010. Furthermore, new product launches and growing strategic moves such as acquisition, merger and expansion by the market players to gain big part of market share are expected to drive the growth during forecast period. Such as, in September 2020 Stryker Corporation launched Mako Total Hip 4.0, the smart robotic system. The system was aimed to help surgeons and physicians in planning the patient's implant position while taking into consideration, the changes in pelvic tilt in the patient's standing, sitting, and supine poses. However, high cost of joint replacement surgery is expected to hinder the growth in coming years. For example, in 2018 the cost per knee replacement was around USD 29000.

Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key regions considered for the regional analysis of joint replacement market. North America is dominating the market in terms of revenue owing to rising geriatric population and well-established healthcare facilities in the region. Whereas, Asia Pacific is anticipated to grow at highest growth rate during forecast period due to quickly evolving healthcare infrastructure and rising medical tourism in the region.
Major market player included in this report are:

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

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Knees
Hips
Extremities
By Fixation Type:
Cemented
Cementless
Hybrid
Reverse Hybrid
By End-use:
Hospitals
Orthopedic Clinics
Others
By Application:
Total Replacement
Partial Replacement
Others


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Joint Replacement Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors