Global Knee Replacement Devices market – A synopsis
The Knee Replacement Devices market study presents a compilation of market share, demand analysis, and future outlook associated with each segment as well as sub-segment. The key segments include, product type, end use, region, and relevant competitors. Important product-wise segments covered in the report contain product 1, product 2, product 3, and product 4, while important end uses include end use 1, end use 2, end use 3, and end use 4.
The global Knee Replacement Devices market is estimated to reach ~US$ xx Mn/Bn in 2019. With a CAGR of xx% throughout the historic period 2014-2019, the Knee Replacement Devices market is expected to grow at healthy CAGR of xx% over the foreseeable timeframe 2019-2029. In this research study, 2018 is considered as the base year.
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The incidence of knee-related issues is escalating at a high pace. This has encouraged the adoption of total knee arthroplasty (TKA) or total knee replacement (TKR). Long lifespans of these devices, development of superior quality devices and materials used in knee replacements, and the designing of customized treatments and knee transplants are some of the chief drivers of the global knee replacement devices market.
According to the findings of the American Academy of Orthopedic Surgeons, nearly 90% of the patients who underwent knee replacement surgeries experience much lesser pain. In several cases, patients can resume their routine activities such as walking and playing golf. As a result, the global demand for knee replacement devices is expected to soar.
Global Knee Replacement Devices Market: Market Potential
Increased levels of accuracy and automation are expected to enable further expansion of the market. In addition, the market is expected to gain from the recent robotics advances in the healthcare sector. For instance, in March 2017, a total knee replacement surgery was performed at St. Elizabeth Healthcare in Edgewood, Kentucky (U.S.) with the help of Mako robotic-arm system. The novel robotic surgery solution by Stryker offers more surgical accuracy, improving natural movement and reducing post-surgery pain. The procedure, being lesser invasive than traditional surgery, is expected to witness increasing demand. Moreover, the surgeon can sketch a pre-surgical plan for each individual knee replacement implant. Although the robotic arm received FDA approval in 2015, it is expected to enter the commercial market only by 2018.
A number of research studies for developing more effective knee replacement devices are conducted around the world. For instance, ConforMIS has recently announced positive results from its iTotal PS total knee replacement research study. Knee kinematics of 13 participants implanted with iTotal PS customized knee replacement device were compared with that of 18 participants implanted with Zimmer Biomet’s NexGen PS total knee replacement device. The findings reveal the greater efficiency displayed by iTotal PS knee replacement device.
Global Knee Replacement Devices Market: Regional Outlook
The presence of the leading global players including Zimmer Biomet Holdings, Stryker Corp, and Johnson & Johnson in the U.S. has been contributing toward the expansion of the knee replacement devices market in North America. Higher incidence of chronic diseases that create increased joint tension and wear in Europe and North America is propelling the demand for knee replacement devices across several countries.
Vast patient base, growing healthcare expenditure, and greater adoption of technology in healthcare have been encouraging the expansion of the knee replacement devices market in Asia Pacific. The prevalence of knee-related conditions and growing disposable incomes of people also promise favorable growth prospects in countries such as Japan, Singapore, China, India, and Malaysia.
Global Knee Replacement Devices Market: Competitive Analysis
Smith & Nephew, DePuy Synthes, Zimmer Biomet, ConforMis, Stryker, Exactech, ORTOSINTESE, Elite Surgical, Arthrex, Ortho Development, Baumer, PETER BREHM, Medacta, MicroPort Scientific Corporation, Aesculap Implant Systems, and Corentec are some of the major companies operating in the global knee replacement devices market.
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The Knee Replacement Devices market research provides vital insights to the readers:
- Collaborations, R&D projects, acquisitions, and product launches of each Knee Replacement Devices market player.
- Impacts of the growth of relevant industries on the Knee Replacement Devices market.
- Drivers, restraints, opportunities and trends affecting the growth of the global Knee Replacement Devices market.
- Analysis of supply-demand ratio in each end use sector.
- Adoption trend and consumption behavior across various industries and consumers respectively.
The Knee Replacement Devices market research gets rid of the following queries:
- Which country in region currently holds the largest share?
- What techniques are the vendors implementing to overcome the challenges associated with the Knee Replacement Devices market?
- What is the present and future prospect of the global Knee Replacement Devices market by product?
- What are the effects of the Knee Replacement Devices on human health and environment?
- How many units of Knee Replacement Devices have been sold during the historic period 2014-2018?
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The global Knee Replacement Devices market research is a result of a comprehensive primary and secondary research performed by the analysts to extract the nuts and bolts of the Knee Replacement Devices market. Various service providers, implementation vendors and research in different departments of all gamut of companies were approached to provide a clear-cut picture of the market structure. Further, DROT analysis and Porter’s Five Forces analysis are used to offer the factors influencing the growth of the Knee Replacement Devices market.
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