The global digit joint implants market is expected to post a CAGR close to 7% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global digit joint implants market from 2019-2023. (Graphic: Business Wire)
Arthritis is the inflammation of joints that affect the connective tissues surrounding the joints. OA and RA are the most common types of arthritis, with symptoms including swelling, pain, stiffness, and decreased mobility. They are caused due to aging, physical injuries, trauma, genetic inheritance, diabetes, obesity, and immune dysfunction. Moreover, OA and RA are more prevalent among the older population aged 65 and above, resulting in increased mortality and morbidity rates. Hence, the increasing prevalence of OA and RA necessitates the use of medical devices used to replace the damaged or diseased joints, such as digit joint implants, thereby driving market growth.
As per Technavio, the growing popularity of biodegradable digit joint implants will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global digit joint implants market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Digit Joint Implants Market: Growing Popularity of Biodegradable Digit Joint Implants
Biodegradable digit joint implants are made of biodegradable polymers, such as polyglycolic acid (PGA), polylactic acid (PLA), poly-ß-hydroxybutyrate (PHB), which degenerate over time and facilitate healing and regeneration of joint tissues. These implants are used to treat metaphyseal and periarticular fractures of joints. The main advantages of these implants are that they promote regrowth of the bone and do not require revision surgery. For instance, CARTIVA by Wright Medical Group, a synthetic hydrogel polymer of polyvinyl alcohol and saline offers the shock-absorbing ability, high-wear resistance, and biocompatibility. It is used to replace the damaged cartilage in the big toe. CARTIVA improves foot mobility and reduces long term pain in the toe. Therefore, it is mostly preferred among end-users, such as hospitals and clinics. The development of such products is expected to boost market growth during the forecast period.
“Apart from the growing popularity of biodegradable digit joint implants, the increasing number of M&A and product launches along with the availability of custom digit joint implants are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
Global Digit Joint Implants Market: Segmentation Analysis
This market research report segments the global digit joint implants market by product (MCP and PIP joint implants, trapeziometacarpal joint implants, toe implants, and others), by type (foot and hand) and geographical regions (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW, respectively. However, during the forecast period, the North American region is expected to maintain its dominance over the global market and register the highest incremental growth due to the well-equipped and established healthcare infrastructure and the availability of highly skilled professionals in the region.
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