According to the recent analysis of Reports and Data, the Global Knee Replacement Implant Market has acquired a market value of USD 10.39 Billion in 2019 and is expected to attain a value of USD 15.57 Billion by the end of the forecast frame in 2027 growing at a CAGR of 5.3%. The knee replacement implant surgery is a surgical procedure, which involves the replacement of the weight-bearing part of the knee with an artificial substance known as an implant. These surgeries are commonly carried upon people with arthritis and other degenerative diseases. It is identified as one of the most effective mechanisms to relieve the pain of patients.
The use of 3D printing technology has been able to propel the market significantly within the forecasted period. The expenditure on health care in all countries across the globe is another feature that was able to fuel the growth of the market. An era of highly functional implants has emerged owing to technological advancements and aggressive research developments. Strategic mergers and acquisitions, along with revolutionary product launches with aggressive marketing techniques, are the primary strategies undertaken by the competitors.
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The market is dominated by top brands that are able to sustain their market share by using innovative world-class technology and aggressive promotional activities to spread medical awareness about their product.
Further key finding from the report:
- The use of 3D printing technology and robot-assisted surgeries, which are minimally invasive in nature, have aided the growth of the market for these products.
- Asia pacific is the fast-growing region for knee replacement implants due to factors like increasing disposable income and large amounts of people coming in for medical tourism especially in India, China, and Thailand
- Technology and patient-focused implants are identified to be key growth factors. Companies are starting to provide custom made implants to their patients.
- Competitive edge over companies in the market is gained by innovative product launches and strategic merger and acquisition projects.
- The U.S. market is valued at about USD 3.5 Billion in 2019 due to degenerative diseases like arthritis being common among the elderly, especially women. Physical accidents have also acted as a contributing factor
- Partial knee replacement surgery is becoming more common and is growing at a CAGR of 3.8%. This can be attributed to the discretion to only replace the damaged tissue.
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Segments covered in the report:
This report forecasts revenue growth at global, regional, and country levels to provide an analysis of the industry trends in each of the sub-segments from 2017 to 2027. For the purpose of this study, Reports and Data has segmented the Global Knee Replacement Implant Market as follows:
Procedure Type (Revenue, USD Million; 2017–2027)
- Total Knee Replacement
- Partial Knee Replacement
- Revision Knee Replacement
Material (Revenue, USD Million; 2017–2027)
- Stainless Steel
- Cobalt Chromium Alloys
- Titanium Alloys
Component (Revenue, USD Million; 2017–2027)
- Fixed Bearing Implants
- Mobile Bearing Implants
End-User (Revenue, USD Million; 2017–2027)
- Ambulatory Service Centres
Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/knee-replacement-implants-market
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