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[2021] Knee Replacement Market Revenue to Worth Over US$ 12.9 Billion by 2027 – Coherent Market Insights

May 10th, 2021 Coherent Market Insights Releases

SEATTLE, May 10, 2021, (MEDGADGET) — Overview:

Knee surgery helps to reduce pain and restore the function of the extremely ill knee joints. This procedure involves cutting the damaged bone and cartilage into your thighbone, shinbone, and kneecap, and replacing it with an artificial joint (prosthesis) made of metal alloys, high-grade plastics, and polymers. The demand for these surgeries is expected to increase over time, due to an increase in prevalence of types of arthritis such as osteoarthritis, psoriatic arthritis, and arthritis, as well as an increase in population. For instance, according to a study published in the Journal of Bone and Joint Surgery American (JBJSA) in 2015, over 7% of people in their 70’s and 10% of people in their 80’s had their knees replaced. Also, rising technological advances such as minimally invasive surgeries along with presence of better implant materials are likely to drive the growth of the global knee replacement market.

*The Download PDF brochure only consist of Table of Content, Research Framework, and Research Methodology.

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Knee Replacement Market – Impact of Coronavirus (COVID-19) Pandemic:

During the COVID-19 epidemic, many patients with arthritis struggle to get treatment because hospitals cancel or delay surgery and other procedures, including arthroplasty and other knee replacement services. There is also concern that patients with mild arthritis who need surgery at the right time unfortunately conclude that the risk of receiving COVID-19 may outweigh the benefits of arthroplasty. As unnecessary surgical restrictions remain in some parts of the U.S., the COVID-19 epidemic has a significant impact on the volume of hip and knee arthroplasty surgery and could lead to significant financial losses, according to a study by the University of Iowa, U.S… In a similar study, researchers estimate that 30,000 primary and 3,000 revision total hip arthroplasty and knee arthroplasty procedures will be canceled weekly while the restrictions remain in place.

The global knee replacement market is estimated to be valued at US$ 9.4 billion by 2020 and is expected to show a CAGR of 4.1% over the forecast period (2020-2027).

Drivers:

Increased product approval and presentation, as well as an increase in arthritis are expected to propel growth of the global knee replacement market.

Major factors contributing to global knee replacement market growth include growing focus of stable players in obtaining product approvals and launching new products, and expanding their customer base by offering new products and technologies. For instance, in October 2019, IMPLANET, a medical technology company specializing in vertebral and knee-surgery implants, announced that it received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the cemented version of its Madison total knee prosthesis. This is the first step towards targeted clearance of complete total knee replacement (TKR) range.

Furthermore, rise in arthritis is expected to accelerate the growth of the global knee-replacement market in the near future. For instance, according to the data of National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), around 23% of all adults or over 54 million people aged 18 years and above had arthritis in the U.S., as of 2019. As per the same source, it is a leading cause of work disability, with annual costs for medical care and lost earnings of US$ 303.5 billion. The prevalence of osteoarthritis is increasing due to population ageing and an increase in related factors such as obesity and sedentary life style. The physical disability arising from pain and loss of functional capacity reduces quality of life and increases the risk of further morbidity. As highly effective medicinal management is not available, emphasis should be given to preventive aspect of life style measures in the form of healthy diet and exercise.

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Restraints:

A major hindering factor for the global knee replacement market is the increasing number of FDA recalls of knee replacement implants due to product failures, material inconsistencies or strength issues, which could affect growth of global knee replacement market during the forecast period. For instance, in July 2020, Zimmer Biomet issued a recall for an unspecified number of polyethylene orthopedic implants for knees, hips, and extremities manufactured between December 2016 and January 2017 in Europe due to the possible presence of elevated endotoxin levels. Expected health consequences include adverse local tissue reaction; critical pain or ache and severe, systemic reaction to allergen or toxin, according to the recall notice.

Regional Analysis:

Among regions, the global knee replacement market is divided into North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.

North America is expected to be the most profitable region for global knee replacement market during the forecast period. Growing number of product approvals and launch are major factors contributing to growth of the North American knee replacement market. For instance, in November 2019, THINK Surgical and MCRA announced that they obtained the U.S. FDA approval for Total Knee Replacement Technology to market the TSolution One Total Knee Application for use in total knee arthroplasty (TKA) in the U.S. The TSolution One Total Knee Application includes CT-based 3D pre-surgical planning software, which allows surgeons to design and prepare, in a virtual environment, the patient’s unique knee joint replacement plan using a choice of knee implant options.

Moreover, the Asia Pacific knee replacement market is expected to witness growth during the forecast period, due to the increase in arthritis cases in Asia Pacific. For instance, according to a study called ‘Epidemiology of Knee Osteoarthritis in India and Related Factors’, osteoarthritis (OA) is the second most common rheumatologic problem and it is the most frequent joint disease with a prevalence of 22% to 39% in India. OA is more common in women than men around 45% of women over the age of 65 years have symptoms while 70% of those over 65 years show radiological evidence of OA.

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Market Segmentation:

  • By Procedure: Total Knee Replacement, Partial Knee Replacement, Kneecap Replacement, and Revision Knee Replacement.
  • By Implant Type: Fixed-bearing Implants, Mobile-bearing Implants, Medial Pivot Implants, Others.
  • By Material: Metal-on-Plastic, Ceramic-on-Plastic, Ceramic-on-Ceramic, and Metal-on-Metal.
  • By End User:Hospital, Orthopedic Clinics, Ambulatory Surgery Centers, Others.

Key Player:

Key players operating in the global knee replacement market such as Zimmer Biomet, Smith & Nephew Plc, Stryker Corporation, B. Braun Melsungen AG, Johnson & Johnson Services Inc., MicroPort Scientific Corporation, Medacta International, Corin Group, ConforMIS, Inc., DJO Global, Inc., Exactech, Inc., Baumer Holding AG, Wright Medical Group N.V., SurgTech Inc., and X.NOV.

View Press Release For More Information @ https://www.coherentmarketinsights.com/press-release/knee-replacement-market-3588

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Overview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Implant Type
      • Market Snippet, By Procedure
      • Market Snippet, By Material
      • Market Snippet, By End User
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Drivers
    • Restraints
    • Market Opportunities
    • Impact Analysis
    • Market Trends
    • Recent Product Launches/Approvals
    • Regulatory Scenario
    • Epidemiology
    • Porter’s Analysis
    • PEST Analysis
    • Acquisition and Collaboration Scenario
  4. Global Knee Replacement Market – Impact of Coronavirus (Covid-19) Pandemic

    • COVID-19 Epidemiology
    • Impact of COVID-19 on Demand and Supply of Knee Replacement Products
    • Government Initiative
  5. Global Knee Replacement Market, By Procedure, 2016 – 2027, (US$ Billion)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Total Knee Replacement
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
    • Partial Knee Replacement
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
    • Kneecap Replacement
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
    • Revision Knee Replacement
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
  6. Global Knee Replacement Market, By Implant Type, 2016 – 2027, (US$ Billion)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Fixed-bearing Implants
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
    • Mobile-bearing Implants
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
    • Medial Pivot Implants
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
  7. Global Knee Replacement Market, By Material, 2016 – 2027, (US$ Billion)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Metal-on-Plastic
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
    • Ceramic-on-Plastic
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
    • Ceramic-on-Ceramic
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
    • Metal-on-Metal
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
  8. Global Knee Replacement Market, By End User, 2016 – 2027, (US$ Billion)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
    • Orthopedic Clinics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
    • Ambulatory Surgery Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Billion)
  9. Global Knee Replacement Market, By Region, 2016 – 2027, (US$ Billion)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2017 – 2027
      • Regional Trends
    • North America
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Implant Type, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Material, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Billion)
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Implant Type, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Material, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Billion)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Implant Type, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Material, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Billion)
        • China
        • Japan
        • India
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Implant Type, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Material, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Billion)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Implant Type, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Material, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Billion)
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Implant Type, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Material, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Billion)
      • Market Size and Forecast, By Country/Region, 2016 – 2027, (US$ Billion)
        • North Africa
        • Central Africa
        • South Africa
  10. Competitive Landscape
    • Company Profiles
  11. Section
    • References
    • Research Methodology
    • About us and Sales Contact
About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

To know more about us, please visit our website – www.coherentmarketinsights.com

Contact:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

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