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| Implantable Knee Replacement Market |
The global knee replacement market is estimated to be valued at US$ 10.6 Bn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Knee replacement implants provide long lasting relief from chronic knee pain
and mobility issues related to knee arthritis or severe joint damage. Modern
knee implants have enhanced bio-compatibility and greater fixation stability
compared to traditional implants, ensuring excellent post-operative function
and quality of life for patients.
Market Overview:
Knee replacement surgery involves replacing the weight-bearing surfaces of the
knee joint with prosthetic components to restore function and relieve pain.
Metal alloy and ultra-high-molecular-weight polyethylene (UHMWPE) components
are commonly used in implant designs. Rising rates of osteoarthritis and
advances in minimally invasive surgical techniques are driving growth of the
knee replacement market.
Market key trends:
The knee replacement market is expected to witness significant growth due to
rise in implantable and robotic technologies. Implantable sensor technologies
allow continuous monitoring of implant performance post-surgery and detection
of risks such as infection or implant loosening at an early stage.
Robot-assisted surgical platforms provide millimeter precision and 3D
visualization capabilities, enabling less invasive procedures with improved
clinical outcomes. Growing application of these technologies is projected to
boost the knee replacement market over the forecast period.
Segment Analysis
Knee replacement market is dominated by Total Knee Arthroplasty (TKA) segment.
Around 90% of the knee replacement procedures performed worldwide involve total
knee replacement, wherein both sides of knee joint i.e femoral and tibial sides
are replaced. This is because total knee replacement provides maximum pain
relief and functional recovery to patients with advance knee arthritis or
injury affecting both sides of the joint. Unicompartmental knee arthroplasty
(UKA) is performed only in cases where arthritis is confined to one compartment
of the knee. Although UKA offers advantages like less invasive surgery and
faster recovery, its increasing complexity and risk of failure or conversion to
TKA limits its adoption.
Key Takeaways
The global Knee
Replacement Market Share is expected to witness high growth, exhibiting
CAGR of 4.1% over the forecast
period, due to increasing prevalence of osteoarthritis and rise in geriatric
population. The number of knee replacement surgeries are projected to grow
considerably in the coming years as people are living longer resulting in more
joint replacement procedures.
Regional analysis
North America dominated the global knee replacement market in 2023 and is
expected to remain dominant over the forecast period. This is attributed to
factors such as growing geriatric population, increasing healthcare
expenditure, rising obesity rate and availability of advanced technologies for
knee replacement in the region. Asia Pacific is anticipated to witness the
fastest growth during the forecast period, owing to improving access to
healthcare facilities coupled with increasing disposable incomes in emerging
countries like China and India.
Key players
Key players operating in the knee replacement market are Zimmer Biomet, Stryker
Corporation, Smith & Nephew Plc, Johnson & Johnson Services Inc., B.
Braun Melsungen AG, Medacta International, MicroPort Scientific Corporation,
ConforMIS, Inc., Corin Group, Exactech, Inc., DJO Global, Inc., Baumer Holding
AG, SurgTech Inc., Wright Medical Group N.V., and X.NOV. Zimmer Biomet holds
the leading position in global knee replacement market, followed by Stryker Corporation
due to their robust product portfolios and strong geographical presence across
major markets.
Read More,
https://www.insightprobing.com/knee-replacement-market-trends-size-and-share-analysis/
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