Endoprosthesis Market To Generate Revenue Worth $65,997.9 Million by 2030

The global endoprosthesis market generated revenue of $23,611.4 million in 2021, and the industry size will advance at a CAGR of 12.1% during 2021–2030. This can be ascribed to the growing number of technological advancements in endoprosthesis, enabling effective treatment.

Numerous joint-related disorders now have more treatment choices because of the technological advances. Patients can receive the right care for a variety of illnesses, so they can live better lives. The market for endoprostheses has a tremendous revenue generation potential because of the rising demand for cutting-edge medical technology and procedures. For instance, tumor endoprostheses aid in limb salvage treatments for primary bone and soft-tissue sarcomas, and they are also increasingly being used in people with symptomatic metastases of the long bones.

Knee Endoprosthesis Accounted for Largest Market Share

Based on product type, knee endoprosthesis held the largest market share in 2021, and it is expected to expand at a notable CAGR, of around 13%, from 2021 to 2030. One of the main causes of impairment in older people is knee osteoarthritis. The improved availability of orthopedic treatments in the developing countries of APAC has led to an increase in the frequency of knee replacement surgeries in recent years. Furthermore, a recent study revealed that the combined global prevalence of knee osteoarthritis was 22.9% in people over the age of 40 and 16.0% in those over the age of 15.

North America Holds Largest Share in Market

North America is leading the market, with around $8.0 billion revenue in 2021, and it is expected to continue its dominance during the forecast period, due to its booming adoption of cutting-edge healthcare products. Additionally, in 2021, the U.S. had the lion's share of the North American endoprosthesis market. The increase in the frequency of knee and hip osteoarthritis among the elderly population is the main reason propelling the market in the nation. Each year, the U.S. performs around a million complete hip and knee replacement surgeries.

Companies Involved in Various Strategic Developments

Key players in the market have been involved in various strategic developments, such as product launches and acquisitions, to remain competitive and improve their position. For instance:

In January 2021, Stryker Corporation acquired OrthoSensor, a company focused on applying digital technologies and big data to total joint replacements. With this, both the companies are focusing on smart sensor technologies, including intraoperative sensors, wearables, and smart implants, for the joint replacement business.

In November 2019, Exactech Inc., a developer and producer of implants, instrumentation, and computer-assisted technologies for joint replacements, announced the acquisition of Exactech Italia S.p.A., its independent distribution partner, thus creating a new corporate subsidiary.

Major players operating in the endoprosthesis market include Medacta International SA, Exactech Inc., Microport Orthopedics Inc., Tipsan, Baumer SA., Impol, LimaCorporate SPA, Smith and Nephew plc, Stryker Corporation, and Zimmer Biomet Holdings Inc.