The Latin America, Middle East and Africa Joint Reconstruction Devices Market would witness market growth of 9.4% CAGR during the forecast period (2023-2030).
The increase in the aging population is a significant driver of the market. As individuals age, the prevalence of degenerative joint disorders, such as osteoarthritis, rises, leading to a growing demand for joint replacement surgeries and implants. The rising incidence of musculoskeletal disorders, including arthritis, rheumatoid arthritis, and fractures, contributes to the demand for these devices. Lifestyle factors, occupational hazards, and sports-related injuries also influence the prevalence of such conditions.
Increased investments in research and development, coupled with ongoing technological advancements, drive the evolution of these devices. Collaborations between academic institutions, healthcare organizations, and industry players contribute to discovering innovative solutions. Improvements in healthcare infrastructure, particularly in emerging economies, facilitate greater access to orthopedic treatments, including joint reconstruction surgeries. The development of healthcare facilities and the training of medical professionals contribute to market growth.
According to the International Trade Administration, government devotion to the healthcare industry is one of the primary growth drivers of the UAE's healthcare sector, especially given that public spending accounts for more than two-thirds of total healthcare expenditure. The federal budget 2022 allocated $15.8 billion (AED 58.931 billion) for public expenditure, of which 8.4% is given to healthcare. Adopting advanced medical technologies, including innovative joint reconstruction devices, has been a priority in the UAE's healthcare industry. Technological advancements enhance the precision and outcomes of joint reconstruction procedures. As a result, these aspects will boost market growth in the coming years.
The Brazil market dominated the LAMEA Joint Reconstruction Devices Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $766.6 Million by 2030. The Argentina market is showcasing a CAGR of 10% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 9.1% during (2023 - 2030).
Free Valuable Insights: The Worldwide Joint Reconstruction Devices Market is Projected to reach USD 36.9 Billion by 2030, at a CAGR of 5.2%
Based on Joint Type, the market is segmented into Knee, Hip, Shoulder, Ankle, and Others. Based on Technique, the market is segmented into Joint Replacement, Osteotomy, Arthroscopy, Resurfacing, Arthrodesis, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Joint Type
By Technique
By Country
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