The global endoprosthesis market is estimated to be valued at US$ 21.50 billion in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Endoprosthesis refers to an artificial implant used to replace a damaged body part or joint, providing support and improving the functional capacity of the affected area. These prosthetic devices find extensive applications in orthopedic, cardiovascular, and ophthalmic surgeries, among others. The demand for endoprosthesis is driven by the increasing prevalence of chronic diseases, such as osteoarthritis, cardiovascular diseases, and cataracts, which require surgical interventions. Moreover, advancements in surgical techniques and the growing acceptance of minimally invasive procedures are also contributing to market growth.
Key Takeaways:
The global endoprosthesis market is expected to witness high growth, exhibiting a CAGR of 7.5% over the forecast period (2023-2030). This growth can be attributed to the increasing prevalence of chronic diseases, advancements in endoprosthesis devices, and support from healthcare organizations and governments.
In terms of regional analysis, North America is currently the fastest-growing and dominating region in the endoprosthesis market. This is primarily due to the high prevalence of joint-related diseases, well-established healthcare infrastructure, and favorable reimbursement policies.
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