The global artificial joint market is oligopolistic, with a few companies controlling the majority of the market.

 

Substitution osteoarthritis, or artificial joint osteoarthritis, is a surgery of arthroplasty muscular health in which a ligament, rotundar joint is subbed with a counterfeit muscular joint prosthesis. This method is utilized as a treatment for seriously agonizing, broken, or ligament joints. Fake joint substitutions permit patients to move absent a lot of torment and frequently reestablish the capacity to work for long.

Expanding geriatric and fat populace is required to drive development of the worldwide counterfeit joints market. As indicated by the World Health Organization (WHO), the worldwide geriatric populace is relied upon to represent around 22% of the worldwide populace by 2050. As per a similar source, in Europe, the quantity of individuals matured 85 years or more is required to increment from 14 million to 19 million by 2020, and increment to 40 million by 2050. Moreover, as indicated by the WHO, in 2016, around 1.9 billion grown-ups matured 18 years and over were overweight, of which more than 650 million were corpulent. Osteoarthritis is the most pervasive musculoskeletal illness influencing the geriatric and hefty populace, which thus, has expanded the interest for fake joints. Subsequently, these elements are relied upon to drive development of the worldwide counterfeit joints market. Moreover, innovative progressions in counterfeit joints innovation are relied upon to push the worldwide fake joints market development sooner rather than later.

High cost associated with artificial joints and frequent product recalls is expected to restrain growth of the global artificial joints market. However, rising R&D initiatives related to the development of novel artificial joints can present lucrative growth opportunities for key market players in the near future. Among regions, North America is expected to witness significant growth in the global artificial joints market. This is owing to the presence of robust healthcare infrastructure, continuous R&D activities for the development of artificial joints, and high healthcare expenditure across the region. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to the presence of a large pool of population suffering from joint diseases.

Key companies involved in the global artificial joints market are JRI Orthopedics, Abbott Laboratories, Globus Medical, Boston Scientific, Aesculap AG, Stryker Corporation, Arthrex, Intuitive Surgical Inc., Sonova Holdings AG, Zimmer Biomet Holdings Inc., Varian Medical Systems, and Smith and Nephew plc.

For instance, in December 2020, Arthrex, a developer of minimally invasive orthopedic technology, launched the SwiveLock ACL Repair Kit, which is approved by the U.S. Food and Drug Administration (FDA), for primary repair of anterior cruciate ligament (ACL) tears.