2012-12-04 16:58:58 - Joint reconstruction market led by Zimmer Holdings with a 22.9% share
The joint reconstruction market has been forecast to increase at a compound annual growth rate (CAGR) of 3.7% over the next six years, increasing from a valuation of $13.5 billion in 2011, to hit a market value of $17.5 billion by 2018.Osteoarthritis or injury can cause severe pain in the hips and knees, therefore reconstruction of those joints can be the best way to regain function and restore quality of life. The hip enables us to bend and straighten our body and move our lower limbs, while the knee, the largest hinge-type joint in the body, is prone to injury. When either joint is severely damaged, activities such as walking or participating in sports can become impossible.The market will witness
strong growth through to 2018, primarily driven by a growing aging population and the increasing incidence of obesity. Osteoarthritis is the most common musculoskeletal disease affecting people aged above 60 years, causing a surge in hip and knee replacement surgeries. Moreover, increased direct-to-consumer marketing has raised awareness of available treatments, fuelling joint reconstruction market growth.The knee reconstruction category is the largest in terms of revenue and is forecast to reach $9 billion in 2018, while the hip reconstruction category is expected to grow at a CAGR of 4.2% to $8.5 billion.Five leading companies - Zimmer, DePuy, Stryker, Smith & Nephew and Biomet control 90% of the large joint reconstruction market. Each of these companies has an extensive portfolio of time tested hip and knee implants.In 2011, Zimmer Holdings, Inc. accounted for 22.9% of the global joint reconstruction market. Its knee reconstruction product line has driven its overall growth. In second and third place, DePuy and Stryker accounted for 21.8% and 18.3% of the total joint reconstruction market respectively. Both companies´ products witnessed strong growth in 2011.For more information on the joint reconstruction market, see the latest research: Joint Reconstruction MarketFollow us on Twitter @CandMResearch
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