According to the research 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, Europe joint reconstruction devices market size is expected to be worth more than USD 4.9 billion by 2027.

Surging demand for implants for a various joint replacement surgeries, the growing geriatric population, and rising technological breakthroughs are some of the leading factors driving the growth of the Europe joint reconstruction devices market.

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Apart from this, the government is increasing its investments in advanced medical equipment that will amplify the success rate of joint replacement procedures. This coupled with the fact that leading organizations are entering into partnerships to acquire necessary expertise, develop advanced, innovative & safe joint implants, and reduce the risk of contracting infections & other post-surgery complications is also paving the way for the overall market size.

Based on joint type, the knee replacement procedures segment accounted for USD 1.6 billion in 2020 and is anticipated to expand significantly over the forecast timeline, owing to the growing number of people being diagnosed with osteoporosis and arthritis as well as rising demand for devices that are innovative and reduces infections.

Meanwhile, Europe join reconstruction devices industry size from hip replacement surgeries segment is estimated to record a 2.6% CAGR through 2021-2027, on account of the rising population diagnosed with hip arthritis and osteoporosis and the mounting number of younger generations affected by juvenile arthritis.

Regionally, the U.K. held a 17% market share in 2020 and is expected to record high growth through 2027, primarily attributable to the growing geriatric population and rising chronic joint disorder osteoarthritis.

The prominent companies operating in Europe joint reconstruction devices industry are Medtronic plc, Stryker Corporation, Conformis Inc., NuVasive Inc., Smith & Nephew plc, MicroPort Scientific Corporation, and Globus Medical Inc., among others. These market contenders are constantly looking for strategic ventures such as mergers & acquisitions, collaborations, and technological breakthroughs to gain a competitive head start in this business space.