Total Knee Arthroplasty Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020– 2030
Total Knee Arthroplasty Market: Overview
The total knee arthroplasty market has been anticipated to experience significant growth opportunities in the upcoming years. This increasing market growth has been driven by the growing geriatric population. These people have a comparatively weaker immune system that leads to various healthcare issues. Diabetes, osteoporosis, and arthritis are some of the common healthcare issues among these elderly people.
Increasing technological advancements, for example, minimally invasive surgeries are predicted to boost expansion opportunities in the market. In addition to this, the presence of better qualitative implants materials has been serving as the driving factor to fuel growth impetus in the market.
Osteoarthritis (OA) has been found to affect elder adults. It has been a common form of arthritis. It serves as a leading cause of physical disability and chronic pain among older individuals. Therefore, due to the rising cases of OA, various people have been adopting knee replacement as therapy. Owing to these factors, the total knee arthroplasty market has been estimated to boost significant growth opportunities in the forthcoming years.
Total Knee Arthroplasty Market: Key Trends
The increasing count of knee arthroplasty procedures has been estimated to fuel growth opportunities in the total knee arthroplasty market in the upcoming years. Further, the market players are also concentrating to carry out clinical trials for effectiveness and safety. In addition to this, the rising number of product launches and their approvals has been predicted to fuel growth opportunities in the market during the forecast period.
On the other hand, there have been various factors to curtail growth opportunities in the market. A growing number of the U.S. Food and Drug Administration recalls knee replacement implants. These implants are on the back of compromised sterility, component inconsistency, and product failures. Thus, these factors are expected to hamper the growth impetus in the total knee arthroplasty market during the forecast period.
Total Knee Arthroplasty Market: Competitive Dynamics and Key Developments
The key players operating in the total knee arthroplasty market have been adopting different strategies to fuel growth opportunities in the forthcoming years. Collaborations, mergers, partnerships, acquisitions, product approvals, and novel product launches are some of the major strategies that are incorporated by the key companies to create expansion avenues in the market.
For instance, Shalby Hospitals, which is associated with Shalby Advanced Technologies, Inc., Ahmedabad, Gujrat, India has acquired assets from Consensus Orthopedics on May 15, 2021. These assets are worth US$ 11.45 Mn. Consensus Orthopedic not only designs but also manufactures orthopedic implants in the medical industry. Shalby Hospitals has acquired the product inventory that includes hip systems, total knee systems, bearing knee systems, and others.
Some prominent players in the global total knee arthroplasty market include:
Total Knee Arthroplasty Market: Regional Assessment
The total knee arthroplasty market is spread across various geographical locations around the world including North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among these, the North America region has been anticipated to hold a significant position in the market. This market growth has been attributed to the increasing count of product launches. Further, the increasing popularity of the cementless knee implant is also fueling growth impetus in the regional market.
Europe is also likely to experience significant growth opportunities in the upcoming years. This growth can be attributed to the involvement of key players in novel product launching. Further, the Asia Pacific region is predicted to experience growth avenues with the increasing incidents of knee replacement system approvals.
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