US Joint Spacer Systems Market Size to Surpass USD 73.3 Million by 2029, at a CAGR of 9.7%

As per the report by Fortune Business Insights, the global US Joint Spacer Systems Market size is projected to reach USD 73.3 Million by 2029, at a CAGR of 9.7% during the forecast period

Pune, India, May 03, 2023 (GLOBE NEWSWIRE) — Market Overview:

According to Fortune Business Insights, US joint spacer systems market size was valued at USD 33.2 million in 2021 and is projected to grow from USD 38.4 million in 2022 to USD 73.3 million by 2029, exhibiting a CAGR of 9.7% during the forecast period.

Increasing prosthetic infections and rising orthopedic implants are estimated to propel the industry growth. Fortune Business Insights™ shares this information in its report titled U.S. Joint Spacer Systems Market, 2022-2029.

Key Industry Development

• April 2022: Tecres S.p.A. announced its preformed Vancogenx-Space Knee ATS and Spacer-K ATS. The launch of these devices is likely to expand the company’s infection control solutions in the orthopedic sector.

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Key Takeaways

• The introduction of new products, is predicted to fuel the market growth during the forecast period.
• The continuous growing focus of manufacturers on the launches of preformed joint spacers is driving the U.S. joint spacer systems market growth.
• The increasing orthopedic implantation procedures for knee, hip, and shoulder have increased the rate of PJI infection across the country.
• The launch of an advanced hip joint spacer in the market is expected to contribute to the segmental growth during the forecast period. 

Discover the Leading Players Featured in the Report:

“Companies leading the US joint spacer systems market are Tecres S.p.A. (Italy), OsteoRemedies, LLC (U.S.), Heraeus Holding (Germany)”

Report Scope & Segmentation

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Drivers and Restraints

Rising Orthopedic Implantation Procedures to Foster Market Progress

Joint spacers are articulating or preformed spacers that are infused with antibiotics. These spacers are available in numerous sizes. Rising orthopedic implantation procedures are likely to foster the demand for joint spacer systems. Furthermore, increasing two-stage revision surgeries is expected to foster the demand for joint spacer systems. Moreover, the increasing adoption of two-stage revision surgeries is expected to foster product’s sales. Also, the introduction of technically advanced spacers is expected to foster the industry’s growth. In addition, the increasing medical and healthcare expenditure may foster joint spacer systems’ adoption. These factors facilitated the US joint spacer systems market growth.

However, several alternative products are likely to hinder the joint spacer systems industry’s progress.

Segments

Knee Segment to Lead Owing to Increasing Prosthetic Joint Infections During Knee Implantation

By procedure type, the market is segmented into knee, hip, and shoulder. The knee segment is expected to lead due to rising prosthetic joint infections during the knee implantation process.

Hospital Segment to Dominate Attributed to Rising Medical Facilities

As per end-user, the market is classified into hospital and ambulatory surgical centers. The hospital segment is expected to lead due to increasing number of medical facilities.

Regionally, the market is grouped into Northeast, Midwest, South, and West.

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Segments Overview:

By Procedure Type

• Knee
• Hip
• Shoulder

By End-user

• Hospital
• Ambulatory Surgical Centers

By Region

• Northeast
• Midwest
• South
• West

Regional Insights

Presence of Large Number of Hospitals to Boost Device Demand from South Region

The South region is expected to dominate due to the presence of huge hospitals, thereby facilitating the US joint spacer systems market share. The Midwest region is expected to be the second dominant region during the forecast period due to factors such as the growing incidence of prosthetic joint infection and the increasing focus of market players on introducing new drugs in the region.

Competitive Landscape

Major Players Deploy Novel Product Launches to Elevate Brand Image

The prominent companies operating in the market announce novel products to enhance their brand image. For example, OsteoRemedies, LLC, launched SPECTRUM GV Bone Cement and REMEDY SPECTRUM GV Hip Spacer System in November 2018. This strategy was undertaken to offer broad-spectrum treatment options using Vancomycin and Gentamicin.  This strategy may enable OsteoRemedies, LLC to elevate its brand image. Furthermore, major players deploy mergers, acquisitions, product launches, innovations, and research and development to enhance their market position globally.

FAQ’s

How big is the US Joint Spacer Systems Market?

US Joint Spacer Systems Market size was USD 38.4 million in 2022.

How fast is the US Joint Spacer Systems Market growing?

The US Joint Spacer Systems Market will exhibit a CAGR of 9.7% during the forecast period, 2022-2029

Related Reports:

Orthopedic Joint Replacement Market Share, Size, Trends and Forecast 2023-2027

Orthopedic Devices Market Size, Share, Trends, Growth | Global Forecast Report 2027

Orthopedic Implants Market Size, Share, Trends, Growth 2023-2027

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