The Knee Reconstruction/Replacement Devices market is expected to grow at a CAGR of 4.52% during the forecast period from 2021 to 2026 to reach USD 9.78 billion by 2026.
The major factors driving the demand for Knee Reconstruction Devices include the increasing demand for minimally invasive surgeries, the growing geriatric population coupled with the rising knee-associated joint problems, and the launch of technically advanced products in the market. The Knee Reconstruction Devices companies operating in the market include Zimmer Biomet, Stryker, Smith & Nephew, DePuy Synthes, Exactech, Inc., Corin, Microport Scientific Corporation, and others.
DelveInsight’s “Knee Reconstruction/Replacement Devices Market Forecast” Report provides the current and forecasted Knee Reconstruction Devices market trends for the next five years, upcoming innovation in the devices, individual market shares, challenges, drivers & barriers, and key competitors in the market.
Knee Reconstruction Overview
Sprains and tears of soft tissues (e.g., ligaments, meniscus), fractures, and dislocation are the most common knee injuries. Anterior Cruciate Ligament (ACL) reconstructive surgery is one of the standard procedures for repairing common knee injuries. ACL repair/reconstructive aims to reconstruct the ligament in the center of the knee.
As per the International Osteoporosis Foundation (2021), worldwide, osteoporosis causes more than 8.9 million fractures annually, resulting in an osteoporosis fracture every 3 seconds. Similarly, according to the United Nations, globally, there were 727 million persons aged 65 years or over in the world in 2020, and the global number was projected to double, reaching over 1.5 billion in 2050. The growing old-age population is more susceptible to knee-related musculoskeletal disorders such as arthritis.
To overcome the challenges and to provide viable alternative solutions for knee-related musculoskeletal disorders, companies across the globe are actively working to develop knee implants. Knee implants are medical devices planned to reestablish mobility and relieve pain associated with arthritis and other knee diseases or injuries. These are surgical replacements of a knee joint where the femur and tibia bone meet, with an artificial joint or implant. The hereditary conditions that require knee replacement are arthritis, osteoarthritis, rheumatoid arthritis, and developmental abnormalities, among others. The acute knee replacement conditions are avascular necrosis (bone death), obesity, emergency traumas, and repeated injuries.
Knee Reconstruction Market
Knee osteoarthritis is the most prevalent and is also a leading cause of Knee fractures among the population, which boosts the Knee reconstruction devices demand.
As per DelveInsight, the global Knee Reconstruction Devices Market is expected to grow in the coming years owing to the burgeoning prevalence of osteoarthritis and the rise in the geriatric population across the globe. Furthermore, integrating Artificial Intelligence (AI) and Robotics in knee replacement surgical procedures is expected to enhance devices’ efficiency. Several studies are going on to evaluate these technologies in Knee Reconstruction procedures. Additionally, the increase in R&D expenditure along with the active participation of the key MedTech companies is likely to boost the global knee reconstruction devices market in the coming years.
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Knee Reconstruction Market Insights
Zimmer Biomet is one of the leading players in the Knee Reconstruction Market. The Zimmer knee replacement device is a semi-constrained knee prosthesis that utilizes modular components between the tibial plates and articular surfaces. Zimmer Biomet received the FDA approval in March 2012 and several patients have undergone total knee replacement surgeries. However, due to several complaints, Zimmer voluntarily recalls the knee replacement device. Apart from Zimmer, some of the key players such as Stryker, Smith & Nephew, DePuy Synthes, Corin, Microport Scientific Corporation, and others, are actively involved the Knee Reconstruction Market.
As per DelveInsight, in terms of revenue share, North America currently leads the global Knee Reconstruction Devices market and is expected that it will remain constant during the forecast period (2021-26). According to the 2020 annual report of the American Joint Replacement Registry, approximately 995,400+ total knee arthroplasty procedures were performed, whereas 75,400+ knee revision arthroplasty was performed between the years 2012-2019. According to the American Academy of Orthopedic Surgeons (2020), the number of knee replacement surgeries is expected to grow in the US and is projected to near 3.5 million procedures each year by 2030. Also, according to the Canadian Joint Replacement Registry 2021, more than 75,000+ knee replacements were performed in Canada in 2019–2020. The prominent factors contributing to the market growth include the rising population of older people in the region.
Additionally, the prompt and well-established healthcare services and infrastructure also contribute to the regional market growth. Apart from this, the active participation of the key players such as Zimmer, Stryker, DePuy Synthes, among several others, and supportive reimbursement programs further drive the market growth.
The countries in the Asia Pacific region also provide immense opportunities for the global players to enter the market and hold significant market share. Due to the rising musculoskeletal disorders in Asia-Pacific regions, there is an increasing demand observed for Knee Reconstruction Devices in these regions. Moreover, the rising geriatric population in the region has a higher susceptibility to skeletal disorders such as arthritis, osteoarthritis, and others and are at an increased risk of knee reconstruction surgery, respectively, compared to patients with normal weight.
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Knee Reconstruction – Recent Breakthroughs & key Innovations
In recent years, the Knee Reconstruction Devices Market observed expansions in terms of clinical, commercial, and regulatory development. Here are some of the major breakthroughs in the segment –
- In August 2021, Fuse Medical, Inc. announced FDA 510(k) Clearance of the Sterizo™ Tibial Revision Knee System and PS plus Posterior Stabilized Tibial Insert.
- In July 2020, Corin received the US FDA approval for OMNIBotics software update that enables the option to incorporate Unity Knee, total knee implants with robotic-assisted surgery in the U.S. This approval helped the company to strengthen its product portfolio in the U.S.
As per DelveInsight, due to the ongoing clinical and commercial developments in Knee Reconstruction Devices, there will be rapid growth in the market size in the coming years.
Key Players In the Knee Reconstruction Market
Currently, some of the key Knee Reconstruction Devices companies in the market include Zimmer Biomet (BMV: ZBH), Stryker (NYSE: SYK), Smith & Nephew (LON: SN), DePuy Synthes, Exactech, Inc., Corin, Microport Scientific Corporation (HKG: 0853), and others. and others.
Moreover, several new companies are also expected to enter the market in the coming years, which is anticipated to transform the Knee Reconstruction Devices’ Competitive Landscape immensely.
Covid-19 Impact On Knee Reconstruction Market
Globally, the COVID-19 pandemic profoundly impacted various industries, including healthcare. The government imposed lockdowns to curb the spread of the virus leading to restrictions in movement and a decrease in regular check-ups, and COVID-19 affected patients were given utmost priority. Elective and non-urgent surgeries are significantly impacted, due to which the demand for Knee Reconstruction Devices is also reduced.
However, as the Covid-19 vaccination rates are rising, the cases are decreasing, the awareness among the people is also growing, and the governments are considering relief in lockdowns, the demand for knee reconstruction surgery is expected to grow immensely in the coming months.
To gain a better understanding of potential new entrants, competitive dynamics, profitability prospects, and attractiveness of the market, connect with us to get Knee Reconstruction Devices Porter’s Five Forces Analysis
Scope of the Knee Reconstruction Market Report:
- Geography Covered: Global
- Study Period: 2021-2026
- Market Segmentation By Product Type – Total Knee Arthroplasty Systems, Partial Knee Arthroplasty Systems, and Knee Revision Systems.
- Market Segmentation By Implant Type – Fixed Tibial Bearing Implants, Mobile Tibial Bearing Implants, and Medial Pivot Implants.
- Market Segmentation By Fixation – Cemented and Cementless.
- Market Segmentation By End-User – Hospitals, Orthopedic Clinics, and Others.
- Market Segmentation By Geography – North America, Europe, Asia-Pacific, and the Rest of the World.
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Table of Contents
|3||Regulatory and Patent Analysis|
|4||Knee Reconstruction Market Key factors analysis|
|5||Knee Reconstruction Porter’s Five Forces Analysis|
|6||COVID-19 Impact Analysis on Knee Reconstruction Market|
|7||Knee Reconstruction Market Layout|
|8||Knee Reconstruction Global Company Share Analysis – Key 3-5 Companies|
|9||Knee Reconstruction Product Profiles and Key Companies|
Reach out to us to get a more detailed overview about the Knee Reconstruction Devices Regulatory & Patent Analysis.
Key Takeaways From the Knee Reconstruction Market Report Study
- In-depth analysis of the Knee Reconstruction Devices Market size, share, and key trends.
- Comprehensive analysis for current Knee Reconstruction Devices Market size (2020), and market forecast for 5 years (2021-2026)
- The effect of the COVID-19 pandemic on the Knee Reconstruction Devices Market is significant. To capture and analyze suitable indicators, our experts are closely watching the Knee Reconstruction Devices Market.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
- Key companies dominating the Global Knee Reconstruction Devices Market.
- Various opportunities are available for the other competitors in the Knee Reconstruction Devices Market space.
- What are the top-performing segments in 2020? How these segments will perform in 2026.
- Which are the top-performing regions and countries in the current Knee Reconstruction Devices Market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Knee Reconstruction Devices market growth in the coming future?
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