The latest business intelligence report titled ‘Europe Joint Reconstruction Devices Market Forecast 2027 By Joint Type, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, cites that Europe joint reconstruction devices market is reckoned to be valued at USD 4.9 billion by the year 2027.
 

Surging elderly population with higher susceptibility of being diagnosed with chronic orthopaedic ailments, coupled with widespread usage of implants in joint replacement surgeries are catalysing the growth of Europe joint reconstruction devices market.

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Further, a surge in the prevalence of rheumatoid arthritis, osteoporosis, and osteoarthritis is impelling the industry share.

Based on joint type, knee replacement segment was estimated at USD 1.6 billion in 2020 and will continue to garner traction in the coming years. This growth is attributed to increasing occurrence of arthritis and osteoporosis, in consort with emphasis among companies to develop advanced knee replacement devices with minimal risk of post-surgery infections.

Meanwhile, hip replacement segment of Europe joint reconstruction devices industry is projected to record 2.6% CAGR through 2027, backed by the pervasiveness of hip osteoporosis and arthritis. Also, increasing risk of juvenile arthritis among youth due to changing lifestyle will also aid the segmental growth.

Moving on regional outlook, the UK industry held 17% revenue share in 2020 and anticipated to grow considerably over the study period, owing to inflowing investment from the government to enhance the medical infrastructure so as to improve the success rate of joint replacement surgeries.

The major companies influencing Europe joint reconstruction devices market trends are Global Medical Inc., MicroPort Scientific Corporation, Smith & Nephew plc, NuVasive Inc., ConforMIS Inc., Medtronic plc, and Stryker Corp. among others. These colossuses are undertaking strategies like new product launches, collaborations & partnerships, and acquisitions & mergers in order to expand their regional footprint and amplify the profits.