Knee Replacement Market Research Report:
Information by Product Type (Total Knee Reconstructive Implants, Partial Knee
Reconstructive Implants, Revision Knee Reconstructive Implants), Material
(Metal Alloy, Ceramic Material, Strong Plastic Parts and Others), End User
(Hospitals and Clinics, Specialty Centers, and Rehabilitation Centers), and
Region (Americas, Europe, Asia-Pacific, and the Middle East &
Africa)—Forecast till 2025
The Global Knee Replacement Market
has been growing pervasively mainly due to the advancements in joint
replacement surgeries. These advancements that have been changing the way these
procedures are performed by providing each patient with a personalized surgical
experience based on their specific diagnosis, pathology, and anatomy.
The market has witnessed a number of such
advancements over the past few years. For instance; Smart knee implants that
work on an energy harvesting mechanism getting powered from motion and have
built-in sensors to monitor changes in the activity.
Another such advancement is robotic-arm assisted
total knee application. This latest advancement in joint replacement surgery
transforms the way total knee replacements are performed. These advancements
are escalating the market on the global platform, making the knee replacement
surgeries far easier for patients and surgeons.
Acknowledging the colossal growth, the market is
witnessing currently, Market Research Future (MRFR) in its recently published
study report asserts that the global knee replacement market is poised to
expand enormously by 2023 registering a steady CAGR throughout the assessment
period (2017 and 2023).
Other major factors positively impacting market growth
include the growing prevalence of knee-related pains and disorders. The
increasing rate of geriatric population and the diseases associated with the
growing age like osteoporosis, diabetes, obesity, and arthritis among others
majorly drive the growth of the knee replacement market.
Moreover, knee injuries occurred during the sports
and accidental injuries is another key growth driver of the market.
Additionally, technological advancements transpired in the field of knee
replacement surgeries and better implant materials are fostering the market
growth of the market to an extent.
Leverage to the advent technologies even younger
generation is not shying away for undergoing the knee replacement
surgeries.
However, the knee replacement market is expected to
confront some challenging factors such as unaffordable costs associated with
the surgeries, skepticism towards the benefits, and after effects or side
effects occurred due to the surgeries are restricting the market growth.
Also, factors such as the increasing number of
OEM’s in the market and growing awareness for some non-surgical and alternative
treatments & methods such as exercises, weight loss, walking aids, and pain
killer medicines are hampering the market growth.
Despite the above-mentioned market growth impeding
factors, knee replacement is still widely adopted and a proven cure for
extremely debilitating diseases, such as osteoarthritis.
Global Knee Replacement Market - Segmentations
The report has been segmented into four key dynamics for enhanced
understanding.
By Type of Test : Revision Knee Reconstructive (RKR), Total Knee Replacement (TKR), and
Partial (half) Knee Replacement (PKR) Implants among others.
BY Material :
Metal Alloy, Ceramic Material, and Strong Plastic
Parts among others.
By End-user :
Hospital,
Clinics, specialty centers, and Rehabilitation Centres among others.
By Regions :
Asia
Pacific, North America, Europe, and the Rest-of-the-World.
Global Knee Replacement Market - Geographical Analysis
The North American region, heading with the
availability of advanced knee replacement procedures dominates the global knee
replacement market. Moreover, factors like the increasing number of aging
populations affected by knee joint disorders and the well-spread awareness
towards joint related treatments foster the growth of the regional market.
Additionally, growing government initiatives that
have been funding several research and development activities in the knee
implant industry to bring about technologically advanced products are pushing
the growth of the market. The US backed by the increasing number of joint
replacement procedures performed accounts for the leading market in the North
American Region. The U.S. and Canada are the leading countries for revenue
generation and market penetration across the globe.
The European region, led by the availability of
innovative and advanced treatment facilities and rising skilled medical
professionals accounts for the second-largest knee replacement market, globally.
Furthermore, the increasing aged population is positively impacting the market
growth, subsequently giving rise to the patient population.
North America and Europe will be in close
competition from 2017 to 2023. However, the North American region will continue
to lead the global knee replacement market throughout the forecast period.
The Asia Pacific knee replacement market, heading
with the rising awareness about health and availability of new treatment
methods, is rapidly emerging as a promising market, globally. China, backed by
the large patient population and increasing geriatric populace holds the
dominant share in the knee replacement market in the region.
Moreover, factors such as the increasing prevalence
of joint disorders such as arthritis and osteoarthritis alongside the
increasing per capita healthcare expenditures, and the overall growth of the
healthcare diagnostic & treatment industry propel the growth of the
regional market.
Global Knee Replacement Market - Competitive Landscape
Characterized by the presence of
well-established players; knee replacement market appears to be highly competitive. Well established players
incorporate distribution partnerships and partnerships with universities and
research institutes along with the prevailing trends such as mergers &
acquisitions, collaboration, expansion, partnership, and product launch in
order to gain a competitive advantage in this market and to maintain their
market position. The competition in the market is expected to intensify further
owing to the new product launches and technological advancements through
various R&D activities.
Major
Players:
Key players leading the global knee replacement
market include ConforMIS, Stryker, Smith & Nephew, Zimmer Inc., DePuy
Synthes Companies, Biomet, Inc., Wright Medical Group N.V., Exactech, Inc., and
B. Braun Melsungen AG among others.
Industry/Innovation/Related
News:
January
28, 2019 – Zimmer Biomet Holdings, Inc. (the US), a leading
global medical device company announced receiving the 510(k) clearance from FDA
for its robotic knee surgery system for total knee replacement surgeries.
The robotic assistance platform - Rosa knee system
includes three-dimensional, preoperative planning tools, and provides data on
soft-tissue and bone anatomy during the procedure to help improve cutting
accuracy and implant alignment. It also performs real-time range-of-motion
analyses to help balance soft tissue in the joint on a patient-specific basis.
The company mentioned that it is excited for the
launch of Rosa Knee, that brings together Zimmer Biomet's robotics technology
with industry-leading knee implants to help surgeons personalize surgical
procedures for their patients.
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