Precision Business Insights (PBI) in its report titled “Global Knee Replacement Market : Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2017 and Forecast 2018-2027” assesses the market performance over 2018-2027. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
Global Knee Replacement Market
One of the most common surgery of joints which are undertaken by the patients with knee damaging diseases like post-traumatic, arthritis osteoarthritis/rheumatoid arthritis is knee replacement surgery. Knee replacement is the most widely used procedure to treat knee arthritis pain. Various procedures are included in implanting artificial device and replacing damaged knee. There are various type of implants made up of ceramic material, strong plastic parts or metal alloys.
Several factors like rise in geriatric population, rise in the prevalence of diseases like diabetes, osteoporosis, arthritis, obesity, increasing sports-related injuries, improving advanced technologies like minimally invasive surgeries and superior materials of implants are the driving factors for total knee implants market. High cost of the surgery, rise in number of OEM’s and increase in awareness about non-surgical treatments like weight losing, exercises, walking aids, shoe inserts and painkiller medicines are the factors hampering the growth of total knee replacement market.
The global total knee replacement market is classified as under-
- Total Knee Replacement
- Partial Knee Replacement
- Revision Knee Replacement
- Fixed-bearing Implants
- Mobile-bearing Implants
Hospitals, orthopedic clinics, and ambulatory surgical centers.
And lastly based on the geographical regions, the global total knee replacement market is categorized as- Latin America, Asia-Pacific, Europe, North America and the Middle East and Africa. North America dominates the global total knee implants market owing to the rise in geriatric population and increasing prevalence rate of arthritis and various joint. According to U.S. Department of Health & Human Services about 294,000 children below age of 18 are suffering from various rheumatic conditions in U.S. Asia-Pacific is anticipated to show significant growth due to the untapped opportunities, growing incorporation of implants in the orthopedic procedures and increasing prevalence rate of arthritis and robust improvement in the healthcare infrastructure. Some of the key players in total knee implants market are Stryker (U.S.), Zimmer Inc., (U.S.), DePuy Synthes (U.S.), Aesculap Implants Systems, LLC (U.S.), Medacta (Switzerland), Exactech, Inc. (U.S.), CONMED (U.S.), MicroPort Orthopedics, Inc. (U.S.), Kinamed, Inc. (U.S.), OMNIlife science Inc. (U.S.) and ConforMIS (U.S.). In 2017, Zimmer Biomet Holdings introduced X-ray-based Patient Specific Instrument, X-PSI Knee System world’s 1st CE Marked surgical planning system. And in 2014, DePuy Synthes introduced 2 new technologies for ATTUNE Knee System Medialized Anatomic Patella and ATTUNE Rotating Platform.
Advancements in the technologies of knee replacement like minimally invasive surgery, improvement in materials of implant and rise in success rates of the procedures are allowing people to undergo the knee replacement surgery. Technologies like v3D printed knee implants manufactured by the company ConforMIS in USA, X3 Advanced Bearing Technology (in 2011) and Mako Robotic-Arm Assisted Technology (in 2017) and Zimmer Biomet has launched Persona Medial Congruent Bearing in March 2016, designed for providing natural motion for the knee by increasing stability of joints are boosting the growth of the market.