ARTIFICIAL JOINTS MARKET ANALYSIS

Market Challenges And Opportunities

Rising geriatric population and obese individuals is leading to the musculoskeletal disorders, hypertension, and other lifestyle diseases. Osteoarthritis is the most prevalent musculoskeletal disease affecting geriatric population, causing a rise in demand for artificial joints. Moreover, the artificial joints with integrated circuits and other R&D initiatives relevant to the artificial joints accessing brain neuron impulses are expected to further drive growth of the market. However, factors such as high cost of artificial joints and product recalls are expected to hamper growth of the market. According to the estimates of American Joint Replacement Registry (AJRR), hip or knee surgeries are performed on around 7 million people in the U.S. Hip and Knee surgeries account for more than 85% of the total joint replacement surgeries in the U.S. Similarly, according to National Joint Registry, in 2016, around 101,651 hip, 108,713 knees, 6,967 shoulders, and 722 elbow replacement surgeries were performed in U.K.