NEW YORK, The latest Digit Joint Implants Market research report by Technavio infers that the increasing prevalence of osteoarthritis and rheumatoid arthritis is driving this market’s growth.
Vendor Landscape
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.
3S Ortho, Acumed LLC, Arthrosurface, BioPro Inc., Charms, EVOLUTIS SAS, Groupe Lepine, Integra LifeSciences Corp., Johnson and Johnson, KeriMedical SA, Loci Orthopaedics Ltd., MatOrtho Ltd., Ortotech AS, Skeletal Dynamics LLC, Stryker Corp., Teijin Ltd., Vilex LLC, Willis-Knighton Health System, Wright Medical Group NV, and Zimmer Biomet Holdings Inc. among others are some of the few key vendors competing to maintain their market position in the market.
Various players in the market are engaging in strategic partnerships and joint ventures coupled with launching differentiated products to up their game in the furniture industry.
Key Market Segmentation
Segmentation by Product: MCP and PIP joint implants: During the projected period, the MCP and PIP joint implants segments will grow their market share of digit joint implants significantly. MCP and PIP joint implants are flexible intramedullary one-piece implants that are used to restore the function of a finger joint during arthroplasty surgery. These implants are made of materials such as cobalt chrome, silicone, titanium, polyethylene, and pyro-carbon, which aid in the correction or replacement of MCP and PIP joints through the encapsulation process. During the forecast period, such applications will fuel segment expansion.Trapeziometacarpal joint implants Toe implants Others
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Regional Market Outlook
North America will contribute to 40% of the market growth during the forecast period. The US and Canada are the key markets for the digit joint implants market in North America. Market growth in this region will be faster than the growth of the market in other regions.
Apart from regions, if we look at the country-wise market growth, the US, Canada, Germany, France, and Japan will contribute to the highest market growth.
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Latest Trends, Driving the Digit Joint Implants Market
Market Driver: Increasing prevalence of osteoarthritis and rheumatoid arthritis:
One of the primary reasons supporting the digit joint implants market expansion is the rising prevalence of osteoarthritis and rheumatoid arthritis due to the growing geriatric population. In 2020, around 654.1 million people over the age of 40 had knee OA worldwide. In people aged 20 and up, the global incidence of knee OA was 203 per 10,000 person-years. As a result, the rising prevalence of OA and RA necessitates the adoption of medical devices such as digit joint implants to replace damaged or diseased joints. During the forecast period, such requirements are expected to fuel market expansion.
Market Challenges: Complications associated with the use of digit joint implants:
One of the issues impeding the growth of the finger joint implants market is the complications connected with its use. Infection, implant fracture, stiffness, and other problems are all linked to the usage of digit joint implants. Additionally, allergic reactions, osteolysis, metal debris deposition, bone erosion, silicone synovitis, embolism, and fibrous ankyloses are also hazards connected with digit joint implants. Revision procedures are required as a result of these problems. As a result, during the projection period, the problems associated with the usage of digit joint implants would stifle overall market growth.
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