Dublin, Oct. 14, 2024 (GLOBE NEWSWIRE) -- The "China Artificial Hip & Knee Joints Market Size, Share and Trends Analysis Report by Site (Hip Joints, Knee Joints), End-use (Hospitals & Surgery Centers, Orthopedic Clinics) 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The China artificial hip & knee joints market size is expected to reach USD 1.01 billion by 2030, registering a CAGR of 7.8% from 2024 to 2030.
This can be attributed to the increasing prevalence of age-related joint disorders, particularly osteoarthritis and osteoporosis. As the population ages, the demand for joint replacement surgeries has surged, coupled with health concerns associated with aging. According to The World Bank Group data, the percentage of people aged 65 years and above in China has increased from 9.32% in 2013 to 14.27% in 2023. This demographic shift increased the demand for effective surgical solutions, thereby contributing to the market growth.
Another critical driver is the implementation of centralized procurement policies, which have dramatically reduced the costs associated with artificial joints. For instance, the Volume-Based Procurement (VBP) initiative in China has significantly transformed the healthcare landscape since its inception, particularly for artificial joints, with around the 9th round for VBP released by November 2023. This program aimed to reduce the costs of medical consumables through centralized bidding and negotiation strategies. This cost reduction has encouraged more patients to opt for surgical solutions rather than considering alternative treatments, thereby positively impacting market growth. This shift enhances patient outcomes and enhances competition among manufacturers to innovate and improve product offerings.
Moreover, minimally invasive procedures, which aim to reduce recovery time and complications, have gained significant demand among surgeons and patients. As healthcare providers focus on improving patient outcomes, the shift towards less invasive procedures has led to a rise in the number of joint replacement surgeries performed. This trend enhances patient outcomes and encourages more individuals to consider surgical options for joint issues that were previously managed through other alternatives. This growing preference for minimally invasive approaches is expected to drive the market for artificial joints as hospitals and clinics invest in advanced surgical technologies.
The governments have prioritized healthcare reform, increasing investments in hospitals and medical facilities, particularly in rural areas. This expansion has improved access to orthopedic care, enabling more patients to receive timely treatment for joint-related conditions. As healthcare accessibility improves, more individuals are anticipated to switch to joint replacement surgeries, thereby driving demand for artificial hip and knee joints in the market.
China Artificial Hip & Knee Joints Market Report Highlights
- Based on site, the knee joint segment held the largest revenue share in 2023 owing to the rising prevalence of knee disorders, increasing number of knee arthroplasties, and increasing affordability of patients.
- The hip joint segment is expected to grow at the fastest CAGR over the forecast period, due to technological advancements in implant design and surgical techniques enhance patient outcomes and satisfaction, making THAs more convenient.
- Based on end use, the hospitals & surgery centers segment dominated the market in 2023, owing to the advanced surgical techniques, personalized attention, and comprehensive services offered by these facilities, which significantly improve patient outcomes.
The leading players in the China Artificial Hip & Knee Joints market include:
- Zimmer Biomet
- Stryker
- Smith+Nephew
- AK Medical
- Waston Medical Corporation
- Extremity Medical LLC
- CONMED Corporation.
- Enovis Corporation
- Johnson & Johnson (DePuy Synthes)
- Aesculap, Inc. (B. Braun)
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $597 Million |
| Forecasted Market Value (USD) by 2030 | $1010 Million |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | China |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. China Artificial Hip & Knee Joints Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.3. China Artificial Hip & Knee Joints Market: Technology Trend Analysis
3.4. China Artificial Hip & Knee Joints: Market Analysis Tools
3.5. Regulatory Framework
Chapter 4. China Artificial Hip & Knee Joints Market Segment Analysis, By Site, 2018 - 2030 (USD Million)
4.1. Definition and Scope
4.2. Site Market Share Analysis, 2023 & 2030
4.3. Segment Dashboard
4.4. China Artificial Hip & Knee Joints Market, by Site, 2018 to 2030
4.5. Hip Joints
4.5.1. Hip Joints market estimates and forecasts, 2018 to 2030 (USD Million)
4.5.1.1. Total Hip
4.5.1.2. Partial Femoral Head
4.5.1.3. Hip Resurfacing
4.5.1.4. Revision Hip
4.6. Knee Joints
4.6.1. By Knee Products
4.6.2. Fixed-bearing Implants
4.6.3. Mobile-bearing Implants
4.6.4. By Knee Procedure
4.6.5. Total knee replacement
4.6.6. Partial knee replacement
4.6.7. Revision knee replacement
Chapter 5. China Artificial Hip & Knee Joints Market Segment Analysis, By End Use, 2018 - 2030 (USD Million)
5.1. Definition and Scope
5.2. End Use Market Share Analysis, 2023 & 2030
5.3. Segment Dashboard
5.4. China Artificial Hip & Knee Joints Market, by end use, 2018 to 2030
5.5. Hospitals & Surgery Centers
5.6. Orthopedic Clinics
5.7. Others
Chapter 6. Competitive Landscape
6.1. Recent Developments & Impact Analysis, By Key Market Participants
6.2. Company Categorization
6.3. Company Profiles
- Zimmer Biomet
- Stryker
- Smith+Nephew
- AK Medical
- Waston Medical Corporation
- Extremity Medical LLC
- CONMED Corporation.
- Enovis Corporation
- Johnson & Johnson (DePuy Synthes)
- Aesculap, Inc. (B. Braun)
For more information about this report visit https://www.researchandmarkets.com/r/13q7gj
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