The North America Joint Reconstruction Devices Market would witness market growth of 4.1% CAGR during the forecast period (2023-2030).
Joint reconstruction or orthopedic implants refer to various medical devices designed to replace, restore, or augment joints within the human body. These devices are pivotal in orthopedic surgeries, contributing to managing conditions such as arthritis, fractures, and ligament injuries. Joint reconstruction can involve various anatomical sites, including the knee, hip, shoulder, and elbow, with each device tailored to the unique biomechanical requirements of the specific joint. The primary goal of these devices is to alleviate pain, enhance joint stability, and improve overall joint function.
The healthcare landscape has witnessed a paradigm shift in recent decades, with an increasing focus on enhancing the quality of life and restoring functionality to individuals facing musculoskeletal challenges. Among the pivotal advancements in medical technology, these devices have emerged as transformative solutions, revolutionizing the treatment of joint-related ailments. These devices play a crucial role in addressing a spectrum of conditions, ranging from degenerative diseases to traumatic injuries, offering patients a renewed lease on mobility and independence.
According to the Canadian Institute for Health Information, in 2023, total health expenditures in Canada are projected to increase by 2.8%, compared to a modest 1.5% increase in 2022. By 2023, Canadian health expenditures are projected to total $344 billion, or $8,740 per Canadian. By 2023, health-related expenses are projected to account for 12.1% of Canada's gross domestic product (GDP). Higher healthcare expenditure often translates to increased access to medical procedures, including joint reconstruction surgeries. As more resources are allocated to healthcare, there may be a rise in the number of patients able to undergo joint reconstruction procedures, driving demand for associated devices. Thus, the above aspects will expand the market growth across the region in the upcoming years.
The US market dominated the North America Joint Reconstruction Devices Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $10,357 Million by 2030. The Canada market is experiencing a CAGR of 6.4% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 5.5% during (2023 - 2030).
Free Valuable Insights: The Joint Reconstruction Devices Market is Predict 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 U.S., Mexico, Canada, and Rest of North America.
By Joint Type
By Technique
By Country
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