Hip and Knee Reconstruction Market Slowing to a Crawl

The global hip and knee reconstruction market, which encompasses 39 countries and includes primary, partial, and revision hip and knee replacements, as well as hip resurfacing, will expand slowly at a compound annual growth rate of 2.5 percent, from just under $14 billion in 2015 to $16.46 billion by 2022, according to research and consulting firm GlobalData.

The company’s latest report, “MediPoint: Hip and Knee Reconstruction – Global Analysis and Market Forecasts,” states that despite the rising prevalence of patients requiring hip and knee replacements and a trend towards early surgical intervention in younger patients, market growth will be minimal due to a combination of austerity measures in Europe, the medical device excise tax in the U.S., and deferrals of elective surgeries.