Knee Replacement Market Overview
The knee replacement market has been projected to grow at 3.7% CAGR and to reach USD 10 Billion in the forecast timeline. The process of knee replacement consists of the replacements of the knee affected area. The affected area leads to some serious pain. With the help of knee replacements, the pain amongst the patient can reduce and thus the overall condition gets improved too. There are some diseases such as osteoarthritis and arthritis that happens amongst the older generation which is commonly found. It is among those reasons for the knee replacement that usually happens. As per the statics made, it has been found that Osteoarthritis is the primary cause of disability and also knee replacement across the world.
The Covid 19 impact has affected the knee replacement market to a great extent too. The outbreak of such illness has affected different markets across the world and of which many areas faced ample losses. The primary concern of the health sector was when it shifted to handling the patients that got affected by the illness. That is why; many other medical options got halted for a long time. Different economies across the world were also forced to enter the recession zone. But is quite expected that in the coming years, the pandemic issue will get controlled and the knee replacement market soon would regain its strength. There are many companies in the field which are now slowly developing and improving their ways to generate better revenue.
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Knee Replacement Market Segmentation
By Product
- Total Knee Reconstructive Implants
- Fixed Bearing Implants
- Mobile Bearing Implants
- Partial Knee Reconstructive Implants
- Medical Pivot Implants
- Revision Knee Reconstructive Implants
By Materials
- Ceramic Material
- Metal Alloy
- Strong Plastic Parts
By End-User
- Rehabilitation Centres
- Clinics and Hospitals
- Speciality Centres
By Region
- North America
- Asia-Pacific
- Europe
- South America
- Middle East Africa
Knee Replacement Market Regional Classification
- The market of the global knee replacements share based on the region is categorized in Europe, Africa, Asia-Pacific, the Americas and the Middle East
- In America, the segmentation is done in two regions South America and North America. As per the North America project, the market will be dominated by this region. Further, there is some major driver of knee arthritis which is also considered to be the growing population of the old generation.
- The Asia Pacific is also the fastest-growing area during the forecast timelines for the knee replacement market. The drivers of this market are growing. Counties like Japan, India and China are turning out to be the major contributors to the growth.
- The European region has been considered the second-largest contributor to knee replacement market growth.
- However, Africa and the Middle East are showing a slow growth rate as compared to other regions.
Knee Replacement Market Competitive Landscape
Top key players in the knee replacement market are Corin Group (UK), Medacta International (Switzerland), Stryker (US), Kinamed Inc. (US), Smith and Nephew (UK), Inc. (US). DePuy Synthes (US), Allegra Orthopaedics Limited (Australia), Zimmer Inc. (US), Aesculap Implants Systems LLC (US)
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Knee Replacement Industry News
Zimmer Biomet in the year 2017 launched its new product called “Persona Partial Knee System.” To improve its business portfolio.
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