Joint Replacement Market Size To Reach $25.4 Billion By 2028 | CAGR: 3.4%: Grand View Research, Inc.

Joint Replacement Market Size To Reach $25.4 Billion By 2028 | CAGR: 3.4%: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, July 14, 2021

SAN FRANCISCO, July 14, 2021 /PRNewswire/ -- The global joint replacement market size is expected to reach USD 25.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.4% from 2021 to 2028. The growing incidence of orthopedic diseases and the increasing number of the target population are boosting the market growth.

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Key Insights & Findings:

Read 150 page market research report, "Joint Replacement Market Size, Share & Trends Analysis Report By Product (Knees, Hips, Extremities), By Fixation Type, By End-use (Hospitals, Orthopedic Clinics), By Procedure, By Region, And Segment Forecasts, 2021 - 2028", By Grand View Research.

According to the Centers for Disease Control and Prevention, 1 in every 4 adults in the U.S. is suffering from arthritis in 2019. In addition, it is projected that by 2040, approximately 78 million of the U.S. adult citizens aged 18 years or older will suffer from arthritis diagnosed by doctors. This upsurge in the number of patients suffering from arthritis is increasing the number of joint replacement surgeries.

Moreover, the increasing demand for minimally invasive joint replacement operations is likely to propel the joint replacement market over the forecast period. In addition, growing awareness about day surgeries, increasing healthcare reimbursement, and rapid adoption of advanced technologies are some of the key factors expected to contribute to market growth over the coming years. The COVID 19 had negatively impacted the market in 2020. However, it started recovering during the third quarter of 2020 and is expected to pace up in the coming years.

Grand View Research has segmented the global joint replacement market on the basis of product, fixation type, end-use, procedure, and region:

List of Key Players of Joint Replacement Market

Check out more studies on orthopedic treatment devices, by Grand View Research:

Browse through grand View Research's coverage of the Global Medical Devices Industry.

Gain access to Grand View Compass our BI enabled intuitive market research database of 10,000+ reports

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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