Joint Replacement Devices Market | 2031 Insights | Recent updates
The Joint Replacement Devices Market is expected to register a CAGR of 5.8% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Procedure (Hip Replacement, Knee Replacement, Elbow Replacement, Others). The report is segmented by Products (Implants, Bone Grafts, Others). The report is segmented by Technique (Traditional Surgery, Minimally Invasive Surgery (MIS), Computer Assisted Surgery (CAS)). The report is segmented by End-User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Joint Replacement Devices Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Joint Replacement Devices Market Segmentation
Procedure- Hip Replacement
- Knee Replacement
- Elbow Replacement
- Implants
- Bone Grafts
- Traditional Surgery
- Minimally Invasive Surgery
- Computer Assisted Surgery
- Hospitals
- Orthopedic Clinics
- Ambulatory Surgical Centers
Strategic Insights
Joint Replacement Devices Market Growth Drivers- The demographic shift toward an increasing elderly population: This is because the ageing population worldwide is one of the major factors accelerating the growth of the joint implant prosthesis market. With increasing longevity, health conditions including osteoarthritis, rheumatoid arthritis, and wear and tear of the joints become more prevalent. In such cases, tend to replace the joint surgically as a means of pain management and to restore mobility. By the World Health Organization’s projection, aged population sixty years and above is expected to be at least two times the current population by the year 2050 thus an increase in the anthropometric surgeries that involve the reconstruction of joints in specific.
- Rising Prevalence of Obesity: Obesity is another important factor that can increase the number of joint operations, especially those performed on the weight bearing joints such as the knees and hips. Excess body weight involves more stress on the joints increasing the risk of conditions such as osteoarthritis. Joints are the most commonly replaced body parts, as it is for these very joints that the prevalence of surgery rises due to obesity epidemiology. They estimate that 40% obesity rate of America’s population today and such patients have to undergo joint surgeries and repairs because of health complications arising from the joints.
- Technological Advancements in Prosthetics: More and more changes are being made in the artificial joints surgical procedures because of the progress achieved in the field of medicine. Research and development of advanced materials that can withstand greater loads within the body as well as precision robotics for surgery is improving results of joint replacements. Newer materials such as titanium, ceramics, and ultra high molecular weight polyethylene are increasing the longevity of the devices and decreasing the rehabilitation period for patients. Robotic assistance in surgeries has also changed the landscape of orthoplastic procedures such as joint replacement which is less invasive and more accurate than ever before.
- Customized Implants: However, with the introduction of 3-dimensional printing processes and virtual designing, the market has witnessed a shift towards custom fit joint replacement using custom implants. The implants are created for patients according to their particular anatomy increasing the effectiveness of the prosthesis and its durability. Patients are supportive of customized implants because they reduce the chances of complications and enhance the overall results and realism of the implants and thus the market is growing.
- Expansion in the Numbers of Surgeries: Done on Outpatient Basis and Same Day Discharges With effective surgical techniques and anesthesia in place, joint replacement surgeries are now easily carried out on an outpatient basis or at the same day discharge. Following surgeries, extended hospital admissions are no longer required for patients, minimizing medical expenses and enabling a faster return to normal routines. This phenomenon is rather prevalent in knee and hip replacement procedures and helps in the increase in surgery volumes.
- Inflated Demand for Minimizing Complications: While the need for joint replacement surgeries has increased, so has the desire to eliminate complications associated with the surgical procedure, such as an infection, implant failure, and blood clots. The focus of the manufacturers has shifted to the production of implants made of advanced materials with special coating and configuration, which also decreases the risk of complications. Moreover, new technologies in the postoperative period such as measures to control infection and rehabilitation are also helping to improve outcomes for patients.
- Robotic-Assisted Joint Replacement: Robotic-Kinematic Surgery, an assisted robotic technology, is relatively new in the joints market. These technologies increase accuracy and allow more custom: made treatments. Those companies that put their money and assets into research or application of robotic: assisted surgery in hospitals and surgical centers will gain advantage over others, as robotic systems are being integrated into more hospitals and surgery centers to help in the efficiency and effectiveness of joint replacement operations.
- Post-Surgery Rehabilitation Solutions: This is a favorable move since there has also been a rising demand in the extension of the market for the post: surgery rehabilitation services. Wearable computers, virtual rehabilitation systems, and telemedicine for rehabilitation have received positive acceptance for use in controlling recovery progress from surgery performed. Organizations providing sales of joint replacement implants and offering rehabilitative services, are more likely to have an upper hand in the tussle due to the integrated system.
- Biodegradable Implants and Smart Implants: The emergence of biodegradable implants that are designed to dissolve with time and smart implants that enabling the observation of healing process steps presents high potential for new development on the implant market. Patients’ comfortability is increased since Biodegradable implants eliminates risks associated with removal operations and helps avoid future irritations.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Joint Replacement Devices Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Joint Replacement Devices Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Knee Replacement segment, by procedure, dominated the market in 2023.
Players operating in the market are Arthrex, Inc., Stryker Corporation, Zimmer Biomet Holdings, DJO Global, Wright Medical Group, Medtronic, Aesculap Implant Systems, Exactech, Inc., B. Braun Melsungen AG, Smith & Nephew
North America region dominated the Joint Replacement Devices market in 2023.
Robotic-Assisted Joint Replacement growth act as a opportunity for growth of the market in forecast period.
The Joint Replacement Devices Market is estimated to witness a CAGR of 5.8% from 202#to 2031
The major factors driving the Joint Replacement Devices market are:
1. The demographic shift toward an increasing elderly population
2. Rising Prevalence of Obesity
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Joint Replacement Devices Market - By Procedure
1.3.2 Joint Replacement Devices Market - By Products
1.3.3 Joint Replacement Devices Market - By Technique
1.3.4 Joint Replacement Devices Market - By End-User
1.3.5 Joint Replacement Devices Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. JOINT REPLACEMENT DEVICES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. JOINT REPLACEMENT DEVICES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. JOINT REPLACEMENT DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. JOINT REPLACEMENT DEVICES - GLOBAL MARKET OVERVIEW
6.2. JOINT REPLACEMENT DEVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. JOINT REPLACEMENT DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - PROCEDURE
7.1. OVERVIEW
7.2. PROCEDURE MARKET FORECASTS AND ANALYSIS
7.3. HIP REPLACEMENT
7.3.1. Overview
7.3.2. Hip Replacement Market Forecast and Analysis
7.4. KNEE REPLACEMENT
7.4.1. Overview
7.4.2. Knee Replacement Market Forecast and Analysis
7.5. ELBOW REPLACEMENT
7.5.1. Overview
7.5.2. Elbow Replacement Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. JOINT REPLACEMENT DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCTS
8.1. OVERVIEW
8.2. PRODUCTS MARKET FORECASTS AND ANALYSIS
8.3. IMPLANTS
8.3.1. Overview
8.3.2. Implants Market Forecast and Analysis
8.4. BONE GRAFTS
8.4.1. Overview
8.4.2. Bone Grafts Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. JOINT REPLACEMENT DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - TECHNIQUE
9.1. OVERVIEW
9.2. TECHNIQUE MARKET FORECASTS AND ANALYSIS
9.3. TRADITIONAL SURGERY
9.3.1. Overview
9.3.2. Traditional Surgery Market Forecast and Analysis
9.4. MINIMALLY INVASIVE SURGERY (MIS)
9.4.1. Overview
9.4.2. Minimally Invasive Surgery (MIS) Market Forecast and Analysis
9.5. COMPUTER ASSISTED SURGERY (CAS)
9.5.1. Overview
9.5.2. Computer Assisted Surgery (CAS) Market Forecast and Analysis
10. JOINT REPLACEMENT DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
10.1. OVERVIEW
10.2. END-USER MARKET FORECASTS AND ANALYSIS
10.3. HOSPITALS
10.3.1. Overview
10.3.2. Hospitals Market Forecast and Analysis
10.4. ORTHOPEDIC CLINICS
10.4.1. Overview
10.4.2. Orthopedic Clinics Market Forecast and Analysis
10.5. AMBULATORY SURGICAL CENTERS
10.5.1. Overview
10.5.2. Ambulatory Surgical Centers Market Forecast and Analysis
11. JOINT REPLACEMENT DEVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Joint Replacement Devices Market Overview
11.1.2 North America Joint Replacement Devices Market Forecasts and Analysis
11.1.3 North America Joint Replacement Devices Market Forecasts and Analysis - By Procedure
11.1.4 North America Joint Replacement Devices Market Forecasts and Analysis - By Products
11.1.5 North America Joint Replacement Devices Market Forecasts and Analysis - By Technique
11.1.6 North America Joint Replacement Devices Market Forecasts and Analysis - By End-User
11.1.7 North America Joint Replacement Devices Market Forecasts and Analysis - By Countries
11.1.7.1 Canada Joint Replacement Devices Market
11.1.7.1.1 Canada Joint Replacement Devices Market by Procedure
11.1.7.1.2 Canada Joint Replacement Devices Market by Products
11.1.7.1.3 Canada Joint Replacement Devices Market by Technique
11.1.7.1.4 Canada Joint Replacement Devices Market by End-User
11.1.7.2 Mexico Joint Replacement Devices Market
11.1.7.2.1 Mexico Joint Replacement Devices Market by Procedure
11.1.7.2.2 Mexico Joint Replacement Devices Market by Products
11.1.7.2.3 Mexico Joint Replacement Devices Market by Technique
11.1.7.2.4 Mexico Joint Replacement Devices Market by End-User
11.1.7.3 US Joint Replacement Devices Market
11.1.7.3.1 US Joint Replacement Devices Market by Procedure
11.1.7.3.2 US Joint Replacement Devices Market by Products
11.1.7.3.3 US Joint Replacement Devices Market by Technique
11.1.7.3.4 US Joint Replacement Devices Market by End-User
11.2. EUROPE
11.2.1 Europe Joint Replacement Devices Market Overview
11.2.2 Europe Joint Replacement Devices Market Forecasts and Analysis
11.2.3 Europe Joint Replacement Devices Market Forecasts and Analysis - By Procedure
11.2.4 Europe Joint Replacement Devices Market Forecasts and Analysis - By Products
11.2.5 Europe Joint Replacement Devices Market Forecasts and Analysis - By Technique
11.2.6 Europe Joint Replacement Devices Market Forecasts and Analysis - By End-User
11.2.7 Europe Joint Replacement Devices Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Joint Replacement Devices Market
11.2.7.1.1 Germany Joint Replacement Devices Market by Procedure
11.2.7.1.2 Germany Joint Replacement Devices Market by Products
11.2.7.1.3 Germany Joint Replacement Devices Market by Technique
11.2.7.1.4 Germany Joint Replacement Devices Market by End-User
11.2.7.2 France Joint Replacement Devices Market
11.2.7.2.1 France Joint Replacement Devices Market by Procedure
11.2.7.2.2 France Joint Replacement Devices Market by Products
11.2.7.2.3 France Joint Replacement Devices Market by Technique
11.2.7.2.4 France Joint Replacement Devices Market by End-User
11.2.7.3 Italy Joint Replacement Devices Market
11.2.7.3.1 Italy Joint Replacement Devices Market by Procedure
11.2.7.3.2 Italy Joint Replacement Devices Market by Products
11.2.7.3.3 Italy Joint Replacement Devices Market by Technique
11.2.7.3.4 Italy Joint Replacement Devices Market by End-User
11.2.7.4 Spain Joint Replacement Devices Market
11.2.7.4.1 Spain Joint Replacement Devices Market by Procedure
11.2.7.4.2 Spain Joint Replacement Devices Market by Products
11.2.7.4.3 Spain Joint Replacement Devices Market by Technique
11.2.7.4.4 Spain Joint Replacement Devices Market by End-User
11.2.7.5 United Kingdom Joint Replacement Devices Market
11.2.7.5.1 United Kingdom Joint Replacement Devices Market by Procedure
11.2.7.5.2 United Kingdom Joint Replacement Devices Market by Products
11.2.7.5.3 United Kingdom Joint Replacement Devices Market by Technique
11.2.7.5.4 United Kingdom Joint Replacement Devices Market by End-User
11.2.7.6 Rest of Europe Joint Replacement Devices Market
11.2.7.6.1 Rest of Europe Joint Replacement Devices Market by Procedure
11.2.7.6.2 Rest of Europe Joint Replacement Devices Market by Products
11.2.7.6.3 Rest of Europe Joint Replacement Devices Market by Technique
11.2.7.6.4 Rest of Europe Joint Replacement Devices Market by End-User
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Joint Replacement Devices Market Overview
11.3.2 Asia-Pacific Joint Replacement Devices Market Forecasts and Analysis
11.3.3 Asia-Pacific Joint Replacement Devices Market Forecasts and Analysis - By Procedure
11.3.4 Asia-Pacific Joint Replacement Devices Market Forecasts and Analysis - By Products
11.3.5 Asia-Pacific Joint Replacement Devices Market Forecasts and Analysis - By Technique
11.3.6 Asia-Pacific Joint Replacement Devices Market Forecasts and Analysis - By End-User
11.3.7 Asia-Pacific Joint Replacement Devices Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Joint Replacement Devices Market
11.3.7.1.1 Australia Joint Replacement Devices Market by Procedure
11.3.7.1.2 Australia Joint Replacement Devices Market by Products
11.3.7.1.3 Australia Joint Replacement Devices Market by Technique
11.3.7.1.4 Australia Joint Replacement Devices Market by End-User
11.3.7.2 China Joint Replacement Devices Market
11.3.7.2.1 China Joint Replacement Devices Market by Procedure
11.3.7.2.2 China Joint Replacement Devices Market by Products
11.3.7.2.3 China Joint Replacement Devices Market by Technique
11.3.7.2.4 China Joint Replacement Devices Market by End-User
11.3.7.3 India Joint Replacement Devices Market
11.3.7.3.1 India Joint Replacement Devices Market by Procedure
11.3.7.3.2 India Joint Replacement Devices Market by Products
11.3.7.3.3 India Joint Replacement Devices Market by Technique
11.3.7.3.4 India Joint Replacement Devices Market by End-User
11.3.7.4 Japan Joint Replacement Devices Market
11.3.7.4.1 Japan Joint Replacement Devices Market by Procedure
11.3.7.4.2 Japan Joint Replacement Devices Market by Products
11.3.7.4.3 Japan Joint Replacement Devices Market by Technique
11.3.7.4.4 Japan Joint Replacement Devices Market by End-User
11.3.7.5 South Korea Joint Replacement Devices Market
11.3.7.5.1 South Korea Joint Replacement Devices Market by Procedure
11.3.7.5.2 South Korea Joint Replacement Devices Market by Products
11.3.7.5.3 South Korea Joint Replacement Devices Market by Technique
11.3.7.5.4 South Korea Joint Replacement Devices Market by End-User
11.3.7.6 Rest of Asia-Pacific Joint Replacement Devices Market
11.3.7.6.1 Rest of Asia-Pacific Joint Replacement Devices Market by Procedure
11.3.7.6.2 Rest of Asia-Pacific Joint Replacement Devices Market by Products
11.3.7.6.3 Rest of Asia-Pacific Joint Replacement Devices Market by Technique
11.3.7.6.4 Rest of Asia-Pacific Joint Replacement Devices Market by End-User
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Joint Replacement Devices Market Overview
11.4.2 Middle East and Africa Joint Replacement Devices Market Forecasts and Analysis
11.4.3 Middle East and Africa Joint Replacement Devices Market Forecasts and Analysis - By Procedure
11.4.4 Middle East and Africa Joint Replacement Devices Market Forecasts and Analysis - By Products
11.4.5 Middle East and Africa Joint Replacement Devices Market Forecasts and Analysis - By Technique
11.4.6 Middle East and Africa Joint Replacement Devices Market Forecasts and Analysis - By End-User
11.4.7 Middle East and Africa Joint Replacement Devices Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Joint Replacement Devices Market
11.4.7.1.1 South Africa Joint Replacement Devices Market by Procedure
11.4.7.1.2 South Africa Joint Replacement Devices Market by Products
11.4.7.1.3 South Africa Joint Replacement Devices Market by Technique
11.4.7.1.4 South Africa Joint Replacement Devices Market by End-User
11.4.7.2 Saudi Arabia Joint Replacement Devices Market
11.4.7.2.1 Saudi Arabia Joint Replacement Devices Market by Procedure
11.4.7.2.2 Saudi Arabia Joint Replacement Devices Market by Products
11.4.7.2.3 Saudi Arabia Joint Replacement Devices Market by Technique
11.4.7.2.4 Saudi Arabia Joint Replacement Devices Market by End-User
11.4.7.3 U.A.E Joint Replacement Devices Market
11.4.7.3.1 U.A.E Joint Replacement Devices Market by Procedure
11.4.7.3.2 U.A.E Joint Replacement Devices Market by Products
11.4.7.3.3 U.A.E Joint Replacement Devices Market by Technique
11.4.7.3.4 U.A.E Joint Replacement Devices Market by End-User
11.4.7.4 Rest of Middle East and Africa Joint Replacement Devices Market
11.4.7.4.1 Rest of Middle East and Africa Joint Replacement Devices Market by Procedure
11.4.7.4.2 Rest of Middle East and Africa Joint Replacement Devices Market by Products
11.4.7.4.3 Rest of Middle East and Africa Joint Replacement Devices Market by Technique
11.4.7.4.4 Rest of Middle East and Africa Joint Replacement Devices Market by End-User
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Joint Replacement Devices Market Overview
11.5.2 South and Central America Joint Replacement Devices Market Forecasts and Analysis
11.5.3 South and Central America Joint Replacement Devices Market Forecasts and Analysis - By Procedure
11.5.4 South and Central America Joint Replacement Devices Market Forecasts and Analysis - By Products
11.5.5 South and Central America Joint Replacement Devices Market Forecasts and Analysis - By Technique
11.5.6 South and Central America Joint Replacement Devices Market Forecasts and Analysis - By End-User
11.5.7 South and Central America Joint Replacement Devices Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Joint Replacement Devices Market
11.5.7.1.1 Brazil Joint Replacement Devices Market by Procedure
11.5.7.1.2 Brazil Joint Replacement Devices Market by Products
11.5.7.1.3 Brazil Joint Replacement Devices Market by Technique
11.5.7.1.4 Brazil Joint Replacement Devices Market by End-User
11.5.7.2 Argentina Joint Replacement Devices Market
11.5.7.2.1 Argentina Joint Replacement Devices Market by Procedure
11.5.7.2.2 Argentina Joint Replacement Devices Market by Products
11.5.7.2.3 Argentina Joint Replacement Devices Market by Technique
11.5.7.2.4 Argentina Joint Replacement Devices Market by End-User
11.5.7.3 Rest of South and Central America Joint Replacement Devices Market
11.5.7.3.1 Rest of South and Central America Joint Replacement Devices Market by Procedure
11.5.7.3.2 Rest of South and Central America Joint Replacement Devices Market by Products
11.5.7.3.3 Rest of South and Central America Joint Replacement Devices Market by Technique
11.5.7.3.4 Rest of South and Central America Joint Replacement Devices Market by End-User
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. JOINT REPLACEMENT DEVICES MARKET, KEY COMPANY PROFILES
13.1. ARTHREX, INC.
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. STRYKER CORPORATION
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. ZIMMER BIOMET HOLDINGS
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. DJO GLOBAL
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. WRIGHT MEDICAL GROUP
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. MEDTRONIC
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. AESCULAP IMPLANT SYSTEMS
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. EXACTECH, INC.
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. B. BRAUN MELSUNGEN AG
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. SMITH AND NEPHEW
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Arthrex, Inc.
2. Stryker Corporation
3. Zimmer Biomet Holdings
4. DJO Global
5. Wright Medical Group
6. Medtronic
7. Aesculap Implant Systems
8. Exactech, Inc.
9. B. Braun Melsungen AG
10. Smith and Nephew
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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