Global “Knee Replacement Market” 2020 :- report presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers, Production, Revenue, Supply, Consumption, Export, Import, Industrial Chain, Sourcing Strategy and Downstream Buyers and Market Growth Factors Analysis in the market. To strategically profile the key players and systematically analyse their growth strategies and Knee Replacement Market Share in global regions.
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The global ‘knee replacement market‘ is expected to reach USD 12.48 billion by 2027, exhibiting a CAGR of 4.3% during the forecast period. The growing cases of arthritis among the general population can be a crucial factor augmenting the growth of the market, states Fortune Business Insights, in a report, titled “Knee Replacement Market Size, Share & COVID-19 Impact Analysis, By Procedure (Total Knee Arthroplasty, Partial Knee Arthroplasty, and Revision Arthroplasty) By Implant Type (Fixed Bearing, Mobile Bearing, and Others) End-user (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, and Others) and Regional Forecast, 2020-2027” the market size stood at USD 9.45 billion in 2019.
Favorable Reimbursement Policies to Favor Growth in North America
The market size in North America generated a revenue of USD 5.05 billion in 2019 and is expected to witness a high growth rate during the forecast period. The growth in the region is attributed to the rising geriatric population. The rising inclination towards computer-aided implant designs will foster healthy growth in North America. The robotic-assisted surgeries and favorable reimbursement policies in the U.S will aid the expansion of the market during the forecast period. Europe is expected to rise tremendously due to the rising number of chronic diseases such as diabetes. The growing prevalence of the bone disease will further speedy expansion of the market. The Innovations in material and design of the implants is expected to boost the growth of the market. The presence of leading players and their strong distribution network will contribute positively to the growth of the market. The surging demand for knee replacement procedures will further support the development of the market in the region. The market in Asia Pacific is predicted to witness a high growth rate owing to the increasing prevalence of knee disorder. The booming medical tourism increased disposable incomes, and improved healthcare infrastructure will influence the healthy growth of the market in Asia Pacific.
The report on the knee replacement market highlights:
- Reliable insights on the latest developments
- Obtained data with grander analysis
- Key market drivers and trends
- Comprehensive analysis of market players
Rising Diagnosis Rate of Knee Arthritis to Bolster Growth
The surge in the geriatric population will create lucrative opportunities for the market in the forthcoming years. According to the Arthritis Foundation, the annual incidence of knee osteoarthritis in the United States is highest between the age group 55 and 64 years old. The rapid surge in diagnosis of knee arthritis among the adult population is expected to enable speedy expansion of the market in the forthcoming years. The rising prevalence of knee osteoarthritis is a key factor in promoting the growth of the market. According to the Osteoarthritis Research Society International (OARSI), the prevalence of global knee osteoarthritis is likely to reach 5% with the rise in the aging population. The growing number of knee replacement surgeries around the world is likely to have a positive effect on the market. According to the Agency for Healthcare Research and Quality (AHRQ), more than 600,000 knee replacement surgeries are performed in the United States every year. Additionally, the surge in healthcare expenditure is predicted to spur lucrative opportunities for the market in the foreseeable future.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.
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September 2017: Zimmer Biomet introduced Persona Partial Knee System, the latest addition to its portfolio of personalized and anatomically designed knee implant systems.
The Report Lists the Main Companies in the Knee Replacement Market:
- Zimmer Biomet (Indiana, U.S.)
- Stryker (Michigan, U.S.)
- DePuy Synthes Companies (Johnson & Johnson Services, Inc.) (Indiana, U.S.)
- Smith & Nephew (London, U.K.)
- Aesculap, Inc.– a B. Braun company (Center Vally, USA)
- Medacta International (Castel San Pietro, Switzerland)
- MicroPort Scientific Corporation (Shanghai, China)
- Conformis (Massachusetts, U.S.)
- Other Prominent Players
Global Knee Replacement Market Segmentation :
- Total Knee Arthroplasty
- Partial Knee Arthroplasty
- Revision Knee Arthroplasty
By Implant Type
- Fixed Bearing
- Mobile Bearing
- Orthopedic Clinics
- Ambulatory Surgical Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Table Of Content :
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Knee Osteoarthritis by key Country/Region-2019
- Technological Advancements in Knee Implants
- Overview of Number of Knee Replacement Surgeries by key Country/Region-2019
- The Regulatory Scenario by Key Country/Region
- key Industry Developments-Mergers, Acquisitions, Partnerships, & New Product Launch)
- Impact of COVID-19 on Knee Replacement Market
Secondary Data Sources That We Refer To:
- Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
- Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
- Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
- Industry journals and paid databases
Secondary Research Is Conducted To Derive The Following Information:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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