Joint Replacement Market Grow Significantly at 4.3% CAGR Through 2032
The global joint replacement market is projected to grow significantly, with its size expected to increase from USD 18.4 billion in 2023 to USD 26.5 billion by 2032, reflecting a compound annual growth rate (CAGR) of 4.3% during the forecast period. Several factors are driving this growth. The increasing prevalence of joint disorders, such as osteoarthritis, is a primary driver, particularly as the global population ages. Advancements in implant materials and surgical techniques, such as minimally invasive procedures and the development of patient-specific implants, also contribute to market expansion. However, challenges such as the high cost of joint replacement procedures…
- Date: May 16, 2024
- Author: Robert Shaw
- Category: News