ENDOPROSTHESIS MARKET ANALYSIS

The global endoprosthesis market size is expected to reach US$ 37.77 Bn by 2030, from US$ 22.80 Bn in 2023, at a CAGR of 7.5% during the forecast period. Endoprosthesis are artificial implants used to replace diseased or damaged joints and bones in the body. The rising prevalence of cardiovascular diseases and osteoporosis is driving the demand for endoprosthesis implants. By product type, the knee reconstruction segment accounted for the largest share of the endoprosthesis market in 2022. The increasing number of coronary artery disease cases globally is driving the growth of this segment.

Global Endoprosthesis Market Regional Insights

• North America is expected to be the largest market for endoprosthesis market during the forecast period, accounting for over 40.2% of the market share in 2022. The growth of the market in North America is attributed to the high prevalence of cardiovascular diseases and the increasing geriatric population in the region.
• The Europe market is expected to be the second-largest market for endoprosthesis market, accounting for over 30.3% of the market share in 2022. The growth of the market is attributed to rising healthcare expenditures and the presence of key players in the region.
• The Asia Pacific market is expected to be the fastest-growing market for endoprosthesis market, with a CAGR of over 15.1% during the forecast period. The growth of the market in Asia Pacific is attributed to growing awareness about endoprosthesis implants and improving healthcare infrastructure in emerging economies like China and India.

Figure 1. Global Endoprosthesis Market Share (%), by Region, 2023

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Analyst Views:

• The global endoprosthesis market is expected to witness steady growth over the next five years. The rising geriatric population which are more prone to orthopedic diseases and injuries will drive demand for various endoprosthesis products. However, the high cost of these complex devices may restrain the market to some extent. The market is currently dominated by hip and knee replacements. The Asia Pacific region, excluding Japan, is likely to see the fastest market growth due to increasing healthcare expenditure and rising medical tourism in countries like India and Thailand.
• Furthermore, the growing prevalence of bone deformities and osteoporosis will augment the need for new reconstructive endoprosthesis. Advancements in 3D printing and computer-assisted design and manufacturing offer opportunities to develop customized implants with complex geometries. The rising number of trauma cases and road accidents, particularly in developing nations, is another factor stimulating sales. Knee reconstruction is foreseen to be the fastest-growing segment owing to the rising incidence of knee injuries among the geriatric population.
• The emergence of bioresorbable implants made from polylactic acid, which dissolves after healing, is gaining prominence. The growing preference for minimally invasive surgeries to reduce complications and recovery time augurs well for the market. Additionally, favorable reimbursement policies for joint replacements in major developed markets encourage patients to undergo such procedures. Ongoing research into additive layer manufacturing of implants with incorporated drugs.

Global Endoprosthesis Market Drivers:

• Increasing prevalence of cardiovascular diseases: The rising prevalence of cardiovascular diseases such as coronary artery disease and heart valve diseases is driving the demand for endoprosthesis like stents, pacemakers, and heart valves. According to World Health Organization (WHO), 2021, cardiovascular diseases are the leading cause of death and it accounts for nearly 18 million deaths annually.
• Growth in geriatric population: The growing geriatric population across the globe, which is more prone to orthopedic disorders, osteoporosis, osteopenia, and osteoarthritis is expected to drive the demand for endoprosthesis implants. According to the United Nations, 2021, the global geriatric population is expected to reach 2.11 billion by 2050.
• Technological advancements: Continuous technological advancements leading to improved success rate, lesser risk, reduced recovery time, and development of patient-specific customized implants are supporting the market growth. For instance, Zimmer Biomet’s, a medical device company mymobility digital health platform allows surgeons to optimize implants based on patient’s anatomy.
• Favorable reimbursement policies: Favorable healthcare insurance policies and healthcare reforms focusing on making healthcare facilities accessible and affordable for all is expected to increase the adoption rate of endoprosthesis devices.

Global Endoprosthesis Market Opportunities:

• Growing medical tourism in emerging economies: The expanding medical tourism industry driven by the availability of high-quality and affordable treatments, is expected to provide lucrative opportunities for endoprosthesis market growth in emerging economies like India, Malaysia and Mexico.
• Rising demand for custom-made implants: Increasing demand for patient-specific customized implants designed using 3D printing technology based on patients’ distinct anatomy is enabling OEMs to improve implant accuracy and surgical outcomes.
• Development of smart Implants: Integration of advanced technologies such as IoT, sensors, and AI in endoprosthesis implants to enable real-time monitoring and personalized care can drastically improve patient outcomes in the future.
• Untapped emerging markets: Huge untapped opportunities exist in the emerging economies due to improving healthcare facilities, rising medical tourism, and increasing healthcare expenditure, which is expected to fuel market growth during the forecast period.

Global Endoprosthesis Market Trends:

• Increasing preference for minimally invasive procedures: Due to benefits like shorter hospital stays, quicker recovery, reduced blood loss, scarring, pain, and a lower risk of complications, the demand for minimally invasive endoprosthesis implant procedures is rising significantly.
• Growing adoption of 3D printed implants: 3D printed customized endoprosthesis implants based on the patient’s anatomy are gaining traction owing to benefits like improved surgical accuracy, lesser risk, reduced recovery time, and reduced costs.
• Development of smart implants: integration of sensors, AI and IoT in endoprosthesis implants for real-time monitoring and data tracking is an emerging trend enabling preventative care and improved outcomes.
• Rising demand for home healthcare: Due to COVID-19, the demand for home healthcare services has increased significantly. This is expected to drive the adoption of remote patient monitoring solutions for endoprosthesis implants.

Global Endoprosthesis Market Restraints:

• High cost of endoprosthesis implants: The high cost of endoprosthesis implants like cardiac stents and knee implants is a major factor hampering market growth, especially in developing regions.
• Unfavorable reimbursement policies: Stringent reimbursement scenarios for expensive endoprosthesis implants in some countries hamper the adoption rate. This impacts overall market growth.
• Post-surgery complications: Complications like implant rejection, implant failure, infections, etc. associated with endoprosthesis implant procedures can restrain patients from undergoing such treatments.

Recent Developments

New product launches

• In February 2022, Edwards Lifesciences, a patient-focused medical innovations for structural heart disease received U.S. Food and Drug Administration (FDA) approval for its PASCAL Transcatheter Valve Repair System to treat patients with mitral regurgitation. This minimally invasive system optimizes valve repair.
• In May 2021, Boston Scientific, innovator of less invasive medical solutions, launched the Sentinel Cerebral Protection System in Europe to prevent stroke during TAVR. This new device captures debris before it reaches the brain.
• In August 2019, BIOTRONIK, multi-national cardiovascular biomedical research and Technology Company received U.S. Food and Drug Administration (FDA) approval for PK Papyrus Covered Coronary Stent System, a first-of-its-kind covered stent specifically designed for coronary perforations. This new covered stent improves patient outcomes.

Acquisition and partnerships

• In September 2022, Zimmer Biomet, a medical technology partnered with Surgical Planning Associates to integrate personalized 3D printing technology for joint replacement surgeries. This integration aims to improve patient outcomes.
• In September 2021, Boston Scientific, innovative medical device solutions acquired Devoro Medical, developer of the Wolf thrombectomy platform, to expand its electrophysiology and structural heart product portfolio with the WOLF thrombectomy platform.
• In January 2022, Smith & Nephew, medical technology company acquired Engage Surgical, owner of the only cementless unicompartmental (partial) knee system commercially available in the U.S. to expand digital surgery capabilities by integrating Engage’s visualization technology in arthroscopic joint repair procedures.

Figure 2. Global Endoprosthesis Market Share (%), by Product Type, 2023

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Top companies in Global Endoprosthesis Market

• Medtronic
• Boston Scientific
• Abbott Laboratories
• Edwards Lifesciences
• Johnson & Johnson
• Stryker
• Zimmer Biomet
• Smith & Nephew
• BD
• Teleflex

*Definition: The global endoprosthesis market refers to the global market for artificial devices and implants used to replace diseased or damaged joints, bones, and tissues in the body. Endoprosthesis implants include cardiovascular implants such as stents, pacemakers, heart valves, orthopedic implants for joint and bone replacement such as hip, knee, and shoulder implants, neurostimulators, breast implants, vascular grafts, surgical mesh, ophthalmic implants, and dental implants, among others.