Knee Replacement Market is estimated to be 14.2 billion by 2029 with a CAGR of 4.3% during the forecasted period.

 


Knee Replacement Market accounted for 9.7 billion in 2020 and is estimated to be US$ 14.2 billion by 2029 and is anticipated to register a CAGR of 4.3%.

The report "Global Knee Replacement Market, By Product (Total Knee Replacement, Partial Knee Replacement, Kneecap Replacement, and Complex (or revision) Knee Replacement), By End Users (Hospitals, Orthopedic Centers, and Other), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

·         In March 2018, Smith and Nephew announced commercial release of bi-cruciate retaining Journey II XR total knee arthroplasty across the U.S. and Japan. The product launch was aimed at capturing large customer base with innovative product offering.

·         In October 2018, Zimmer Biomet Holdings announced to collaborate with Apple to facilitate patient and surgeon connection during the knee and hip replacement procedures. The collaboration assisted in enhancing the customer base of Zimmer Biomet.

Analyst View:

Growing number of patients with osteoporosis is expected to propel the total knee replacement industry growth positively. According to the National Osteoporosis Foundation, approximately 10 million Americans are affected with osteoporosis and another 44 million have low bone density. Such high incidences of osteoporosis have placed the population at an increased risk, thereby increasing the demand for knee replacement products. Development of non-invasive surgical procedures that cause minimum pain is further expected to drive the total knee replacement market demand.

Increasing awareness about the material innovations and design of knee implants and robot assisted knee surgeries are currently becoming the key trends impacting the sales of these products used in the replacement surgeries. Robot assisted technology is promoting higher accuracy in procedures and has reduced the dependence of procedural outcomes on the surgeons.

Key Market Insights from the report:        

The global knee replacement market accounted for 9.7 billion in 2020 and is estimated to be US$ 14.2 billion by 2029 and is anticipated to register a CAGR of 4.3%. The market report has been segmented on the basis of product, end users and region.

·         Depending upon product, the total knee replacement segment is projected to grow at highest CAGR over the forecast period. TKR (total knee replacement) is the conventional technique and the only method of repairing a damaged knee. During a TKR, the surgeon eliminates the surface of the bones that have been broken by means of osteoarthritis or other reasons and replaces the knee with a synthetic implant this is selected to match the knee anatomy. According to the survey, more than 95% of the sufferers within the U.S. are happy with the final results of their total knee replacement surgical operation

·         Depending end users, the hospitals segment is projected to grow at highest CAGR over the forecast period. Majority of knee replacement surgeries are conducted in hospitals, due to the availability of advanced technologies and trained professionals in these healthcare settings. Additional provision and intensive care provided post-surgical procedures in hospital are expected to fuel the end-user segment of the market.

·         By region, North America dominates the market, due to the presence of significant market players and increase within the prevalence of individuals affected by degenerative diseases.

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Competitive Landscape:

The prominent player operating in the global knee replacement market includes Stryker, Smith & Nephew, Medacta, MicroPort Scientific, B. Braun, ConforMIS, DePuy Synthes, Corin, DJO Global and Zimmer Biomet.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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