Summary:
A new market study, titled “Discover Global Knee Prosthesis Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Introduction
Knee replacement is a surgical method, where the painful knee is replaced with prosthetic, which is made up of ceramic or metal. The process can be deemed as the replacement of the damaged knee with an artificial one to facilitate movement. Patients suffering from knee-related diseases like post-traumatic arthritis, osteoarthritis, or rheumatoid arthritis are getting involved in these procedures. Knee-prosthesis is finding better traction as the last resort of treatment. People mostly avail this treatment when they find other treatments like medication and all are failing. The procedure then comes in handy as it replaces fully or partly the damaged area to get back the patient back on his feet.
The knee prosthesis market has its focus mostly on the older population that triggers ailments, such as arthritis, osteoporosis, and diabetes. Moreover, the existence of better implant materials, technology advancement, such as massive research & development, and minimally invasive surgery, in the knee implant industry enhance the global knee prosthesis market. The global knee prosthesis market is expanding rapidly. The main reasons for market growth are rising per capita health expenditure, Growing health-related awareness, improved government initiative & public healthcare expenditure, adoption of less-invasive surgical procedure, enlargement of the healthcare industry, better approval procedures for medical device and product from regulatory authorities. Any developed regions will allocate budget for an aging population because the geriatric population is prone to the disease and that too, diseases regarding joints and bones. Therefore, knee prosthesis can expect better traction in the coming years and register a significant hike in terms of revenue.
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Key Players of Global Knee Prosthesis Market =>
- Zimmer
- Waldemar LINK
- Smith & Nephew
- Braun Melsungen
- DJO Global
- Johnson & Johnson
- CeramTec
- Arthrex
- ConforMIS
- Stryker
SEGMENTATION
In terms of procedures the knee prosthesis market is segmented based on procedures, which is categorised into total replacement, partial replacement, and others. Total replacement segment has the maximum market share on account of product offerings in comparison to that of partial, reverse or revision replacement. Various end users in the knee prosthesis market cover hospitals, ambulatory surgical centers,orthopedic clinics are gradually adopting orthopedic joint replacement solutions to treat patients suffering from knee arthritis. In terms of application, the knee prosthesis market has been segmented into unicompartmental arthritis and disability.
REGIONAL ANALYSIS
Geographically the global market for knee prosthesis included North America, Europe, and Asia Pacific as major market contributors. The Middle East & Africa (MEA), and Latin America may gain prominence in the coming days with various countries showing immense growth opportunities. North America has advantages in terms of structure and innovation. Various market players are also operating from the region to make sure that the growth gets significant traction. Europe can also play a significant role in the global knee prosthesis market. The reason which leads to increase in demand for knee implants in Asia Pacific region is due to age population that affects due to knee joint disorders. India and China have a large population base that is likely to have a potential market for knee replacement surgeries.
INDUSTRY NEWS
In November 2019, IMPLANET, a leading name in the vertebral and knee-surgery implants segment, announced that the company got 510(k) clearance from FDA and is ready to spur the growth of the cemented version of its Madison total knee prosthesis.
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