Knee Replacement Devices Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Knee Replacement Devices Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : October, 2020 | Medical Devices | PPT format

Report Digest


Global Knee Replacement Devices Market: Snapshot

The significant rise in the incidence of knee related issues among people across the world is boosting the global market for knee replacement devices, substantially. Knee-related disorders are considered as one of the prominent health issues. It generally affects people under the age bracket of more than 40 years. Arthritis, osteoporosis, back pain, knee injury, and trauma have surfaced as the most common joint problems. Apart from this, osteoarthritis, which affects the joints and stresses hips, knees, and lower spine, has also become a common problem now among the geriatric people. Technically advanced treatment options and enhanced standards of medical and healthcare services have improved the life expectancy of people across the world, leading to a considerable increase in the geriatric population, which is expected to boost the number of cases related to knee disorders. This, in turn, is projected to propel the global market for knee replacement devices in the years to come.

Geographically, North America has been dominating the global market and is anticipated to continue doing so over the next few years. The significant rise in the geriatric population, together with rising prevalence of bone-related disorders, obesity, accident cases, and lifestyle-related conditions, is the main factor behind the growth of the North America market for knee replacement devices. The escalating efforts and number of initiatives by the American Orthopedic Society to augmenting awareness regarding the importance of the early diagnosis of knee-related disorders and the ample availability of advanced treatment options are likely to support the growth of this market in the years to come. In this region, the U.S. has surfaced as the key revenue contributor.

Global Knee Replacement Devices Market: Overview

The primary objective of any knee replacement is to alleviate pain and improve flexibility. Knee replacements are sometimes tailor-made to fulfill the individual needs of patients, as these devices are not one-style-fits-all or one-size-fits-all. Fixed-bearing implants are perhaps the most common knee replacement implants. All knee replacement devices consist of four common components, namely, plastic spacer, tibial component, femoral component, and patellar component.

Based on type of material used in the knee replacement device, metal, ceramic, superior quality plastic such as polyethylene, cobalt-chromium alloys, titanium, and titanium cobalt are a few of the key segments of the global knee replacement devices market.

Global Knee Replacement Devices Market: Key Trends

The incidence of knee-related issues is escalating at a high pace. This has encouraged the adoption of total knee arthroplasty (TKA) or total knee replacement (TKR). Long lifespans of these devices, development of superior quality devices and materials used in knee replacements, and the designing of customized treatments and knee transplants are some of the chief drivers of the global knee replacement devices market.

According to the findings of the American Academy of Orthopedic Surgeons, nearly 90% of the patients who underwent knee replacement surgeries experience much lesser pain. In several cases, patients can resume their routine activities such as walking and playing golf. As a result, the global demand for knee replacement devices is expected to soar.

Global Knee Replacement Devices Market: Market Potential

Increased levels of accuracy and automation are expected to enable further expansion of the market. In addition, the market is expected to gain from the recent robotics advances in the healthcare sector. For instance, in March 2017, a total knee replacement surgery was performed at St. Elizabeth Healthcare in Edgewood, Kentucky (U.S.) with the help of Mako robotic-arm system. The novel robotic surgery solution by Stryker offers more surgical accuracy, improving natural movement and reducing post-surgery pain. The procedure, being lesser invasive than traditional surgery, is expected to witness increasing demand. Moreover, the surgeon can sketch a pre-surgical plan for each individual knee replacement implant. Although the robotic arm received FDA approval in 2015, it is expected to enter the commercial market only by 2018.

A number of research studies for developing more effective knee replacement devices are conducted around the world. For instance, ConforMIS has recently announced positive results from its iTotal PS total knee replacement research study. Knee kinematics of 13 participants implanted with iTotal PS customized knee replacement device were compared with that of 18 participants implanted with Zimmer Biomet’s NexGen PS total knee replacement device. The findings reveal the greater efficiency displayed by iTotal PS knee replacement device.

Global Knee Replacement Devices Market: Regional Outlook

The presence of the leading global players including Zimmer Biomet Holdings, Stryker Corp, and Johnson & Johnson in the U.S. has been contributing toward the expansion of the knee replacement devices market in North America. Higher incidence of chronic diseases that create increased joint tension and wear in Europe and North America is propelling the demand for knee replacement devices across several countries.

Vast patient base, growing healthcare expenditure, and greater adoption of technology in healthcare have been encouraging the expansion of the knee replacement devices market in Asia Pacific. The prevalence of knee-related conditions and growing disposable incomes of people also promise favorable growth prospects in countries such as Japan, Singapore, China, India, and Malaysia.

Global Knee Replacement Devices Market: Competitive Analysis

Smith & Nephew, DePuy Synthes, Zimmer Biomet, ConforMis, Stryker, Exactech, ORTOSINTESE, Elite Surgical, Arthrex, Ortho Development, Baumer, PETER BREHM, Medacta, MicroPort Scientific Corporation, Aesculap Implant Systems, and Corentec are some of the major companies operating in the global knee replacement devices market.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?