- Total Knee Replacement
- Partial Knee Replacement
- Revision Knee Replacement
Global Knee Replacement Market was valued at USD $6.6 billion in 2020 and is anticipated to grow at $8.1 billion till 2027 recording a CAGR of 4.2% during the forecast period 2021-2027. Knee Replacement is one of the most common replacement surgery of joints which are undertaken by the patients with knee damaging diseases like post-traumatic, arthritis osteoarthritis/rheumatoid arthritis. Growing elderly patients and increase in number of surgeries undertaken is anticipated to grow the global knee replacement market. Various steps 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 the prevalence of diseases like diabetes, osteoporosis, arthritis, obesity, growing ageing population increasing sports-related injuries, improving advanced technologies like minimally invasive surgeries and superior materials of implants are the factors driving the global knee replacement market. High cost of the surgery, rise in number of OEMâ€™s and increase in awareness about non-surgical treatments like weight losing, exercises, walking aids, shoe inserts and painkiller medicines are the factors restraining the growth of global knee replacement market. Knee replacement is the most widely used procedure to treat knee arthritis pain. 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 likev3D printed knee implants manufactured by the company ConforMIS in USA. For example, 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. 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. In June, 2017, Zimmer Biomet Holdings introduced X-ray-based Patient Specific Instrument, X-PSIÂ Knee System world's 1st CE Marked surgical planning system. In June 2014, DePuy Synthes introduced 2 new technologies for ATTUNE Knee System Medialized Anatomic Patella and ATTUNE Rotating Platform
Fastest Growing Market
One of the primary causes anticipated to drive demand for bone procedures in the future is a rise in the prevalence of knee osteoarthritis around the world. The demand for knee implants is expected to rise in the coming years as the rate of diagnosis of knee arthritis among adults rises. According to the Osteoarthritis Research Society International (OARSI), global knee osteoarthritis is expected to reach 5% of the population by 2050, and this number is expected to climb as the population ages. During the projection period, the rapid increase in the ageing population and the rapidly expanding obesity epidemics are likely to fuel demand for knee replacement surgery. The annual incidence of knee osteoarthritis in the United States is highest between the ages of 55 and 64, according to the Arthritis Foundation. Implants made of precious metals and designed with superior technology are used in knee replacement treatments. Furthermore, the cost of these products is increased by the strict standards that govern their approval. The availability of these devices has been limited in developing countries with low healthcare spending and a scarcity of trained surgeons.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.