A broadening patient base, which includes younger patients below 55 years of age and elderly patients exceeding the age of 80, are anticipated to increase the demand of hip and knee replacement procedures.
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Knee replacement procedures are expected to grow at a faster rate, than hip replacement procedures because of the increasingly active aging population. Although shoulder and small joint replacement procedures are low in numbers, but they are expected to grow at a higher growth rate than the other segments, due to the increasing awareness and availability of cost-effective procedure options in joint replacement.
Joint reconstruction is a method in which an injured or dysfunctional joint or tissue is substituted by an artificial prosthesis. Artificial prostheses include materials such as, comprising plastics, metals and ceramics. The general types of joint replacement procedures include, digit replacement, ankle replacement, hip replacement, elbow replacement, knee replacement, shoulder replacement and elbow replacement.
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Key factors fuelling the growth of joint replacement surgeries in Asia-Pacific are, increasing number of trained joint replacement surgeons, sedentary lifestyle, aging population, rising health care expenditure, medical tourism and improved healthcare infrastructure. In the U.S., hip and knee replacements are the most commonly performed joint replacements. The American Joint Replacement Registry (AJRR) has been making tremendous progress towards its goal of becoming the first comprehensive national hip and knee orthopedic implant registry in U.S.
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On the other hand, alternative treatment options available for joint replacement are the major factors restraining the growth of global joint reconstruction market.
DePuy Synthes, Smith & Nephew PLC, Stryker, Tornier, Inc., Wright Medical Technology, Inc. and Zimmer Biomet Holdings, Inc. are some of the major competitors in the global joint reconstruction market.
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