The global endoprosthesis market was valued at USD 26,196 Million in 2022 and is projected to experience robust growth at a compound annual growth rate (CAGR) of 11% during the forecast period from 2022 to 2032. This growth is anticipated to result in a market valuation of approximately USD 74,381.47 Million by 2032.
Several factors are driving the rapid expansion of the endoprosthesis market, particularly the increasing geriatric population, which often requires surgical interventions for joint replacement and other orthopedic needs. Additionally, advancements in technology are leading to the development of more effective and durable endoprosthetic devices, enhancing patient outcomes and expanding the range of applications.
As healthcare providers increasingly adopt these innovative solutions to improve quality of life for patients, the endoprosthesis market is expected to see significant advancements in product offerings. Ongoing research and development efforts aimed at enhancing the functionality and longevity of these devices will likely contribute to sustained market growth.
With the combination of an aging population and continuous technological innovation, the endoprosthesis market is poised for substantial growth in the coming years, presenting significant opportunities for industry stakeholders.
As per the U.N., the geriatric population aged 65 years and above is anticipated to represent 16% of the overall population by 2050. Thus, the growing geriatric population is expected to present growth prospects for the market over the stipulated time period. Additionally, the rising susceptibility of women to endoprosthesis is predicted to facilitate market development going forward. The market is further predicted to grow on account of rising symptomatic contract osteoarthritis, which affects 9.6% and 18% of men and women, respectively. The requirement of the endoprosthesis to treat such conditions is anticipated to rise as a consequence of these considerations.
Technological advancements to update the endoprosthesis devices for effective treatment and better results are predicted to boost market expansion. Biomaterials, which are used in orthopedic prostheses, are undergoing technological enhancement and have become a key area of research, innovation, and development in the healthcare field. Advances integrating forward-oriented technologies, such as nanotechnology and biotechnology, are widely available in scientific research, in addition to the patenting of novel orthopedic prostheses. The prospects of clinical applications of these latest biomaterials are promising, thus creating opportunities for the growth of the endoprosthesis market.
The endoprosthesis market is currently witnessing growth on account of new launches and product innovations. For instance, in September 2022, Zimmer Biomet Holdings, Inc., which is a leading provider of medical technology, announced that the U.S. F.D.A. has provided clearance to Identity™ Shoulder System for revision, anatomic and reverse shoulder replacement. The latest addition of the Identity Shoulder System to the company’s line of shoulder replacement systems, which is designed to assist surgeons in devising and implementing a patient-specific surgical plan with accuracy, is predicted to contribute to the positive endoprosthesis market outlook.
Endoprosthesis Market: Overview
Globally, growing demand for endoprosthesis products such as total knee replacement prosthetics, total femur replacement prosthetics, peripheral vascular prosthetics has been estimated to represents significant growth in overall endoprosthesis market.
Increasing the severity of diseases witnessed to a robust market growth in forecasting period. The market is expected to exhibit to a significant CAGR and annual growth rates over the forecast period.
Endoprosthesis Market: Key Players
Key players in endoprosthesis market include Zimmer Biomet Holdings, Inc., Smith & Nephew Plc, Acumed, LLC, Stryker Corporation, Boston Scientific, Inc., Wright Medical Technology, Inc., and BARD Peripheral Vascular and others.
The Research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
Endoprosthesis Market: Segmentation
Global endoprosthesis Market can be segmented into product types, end user and region:
By Product Type:
- Wall Stent Endo prosthetics
- Prosthetics Aortic Valves
- Prosthetics Mitral Valves
- Prosthetics Pulmonary Valves
- Prosthetics Tricuspid Valves
- Biliary Endo prosthetics
- Upper Extremity Prosthetics
- Shoulder Prosthetics
- Elbow Prosthetics
- Hand Prosthetics
- Lower Extremity Prosthetics
- Foot & Ankle Prosthetics
- Knee Prosthetics
- Total Rotational Knee
- Total Hinge Knee
- Total Femur Replacement
- Dental Prosthetics
By End user:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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