Knee Replacement Implants Market Trends, Revenue, Major Players, Share Analysis & Forecast Till 2030

Rising awareness regarding effectiveness of knee replacement implants products and high obesity rate are Key factors

NEW YORK, NY, UNITED STATES, April 15, 2022 /EINPresswire.com/ — The global knee replacement implants market size is expected to reach USD 17.45 Billion in 2030 and register a revenue CAGR of 5.3% over the forecast period, according to latest report by Reports and Data. High prevalence of osteoporosis, increased awareness, and research initiatives to improve the effectiveness of medical devices are factors driving knee replacement implants market revenue growth.

Knee replacement, also known as knee arthroplasty, is a complex surgical procedure that involves replacing weight-bearing surface of knee to relieve pain and disability in patients with deformities. An implant is a term for artificial material used in knee replacement. It aids in resumption of normal knee functions.

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As people age, most begin to experience joint pain, which makes it difficult for them to engage in various types of physical activities to their full potential. Some people may experience excruciating pain in their knees, necessitating a visit to an orthopedic doctor, who may prescribe medications as well as treatments such as physiotherapy, acupuncture, and use of braces. However, if pain persists despite taking medications, doctor may recommend knee replacement surgery, which can help to relieve pain and improve mobility. During surgery, doctor removes a portion or all of the knee joints and replaces damaged parts with a metal or plastic artificial knee replacement implant. As more and more young and active people suffer from joint injuries as a result of sports activities and everyday wear and tear, need for a permanent or semi-permanent solution is growing which is boosting demand for knee replacement implants.

Some Key Factors Contributing to the Global Pharma & Healthcare Market Growth

Unprecedented revenue growth of the global pharma & healthcare industry is attributed to factors such as rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health & wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options – especially in developing countries like India and China – rise in R&D activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.

Some Key Highlights from the Report

In July 2020, Corin Group received the U.S. Food and Drug Administration (FDA) approval for OMNIBotics software update, enabling 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.

Total knee replacement segment accounted for largest revenue share in 2021. Increasing global geriatric population has fueled growth of the segment. Older population suffers from a weakened immune system, which leads to a variety of health problems. Diabetes, osteoporosis, and arthritis are some of the most common health problems among elderly. With time their knees get damaged due to reasons such as calcium deficiency or other external damage which can cause severe pain. Total knee replacement is best solution to ease unbearable pain which drives revenue growth of the segment.

Hospital segment accounted for largest revenue share in 2021, owing to presence of advanced facilities and improvement in healthcare infrastructure in developing countries. Emergence of specialized orthopedic hospitals is also contributing to growth of segment.

Fixed Bearing (FB) implants accounted for largest revenue share in 2021. FB implant’s standard operative procedure is to relieve pain and restore function in patients with osteoarthritis or rheumatoid arthritis. FB knee design has round femoral components that articulate with a relatively flat tibial articular surface. Most of FB implant patients has improved knee condition for long term which is driving revenue growth of segment.

Cobalt chromium alloys accounted for largest revenue share in 2021. Knee replacement materials such as stem, cup, ball, and liner are made from cobalt-chromium as this material is scratch-resistant and safe for use in total knee replacements. Most total knee femoral components are made out of cobalt-chromium with excellent long-term success rates which is boosting growth of segment.

Market in North America accounted for largest revenue share in 2021, owing to availability of highly sophisticated healthcare system and increasing expenditure on healthcare by population are factors boosting growth of market. Moreover, use of advanced technology such as 3D printing and presence of key market players are some of factors driving growth of knee replacement implants market in this region.

Major companies in the global market report include Zimmer Biomet, Stryker, Smith+Nephew, Depuy Synthes (a Johnson & Johnson Company), Medacta International, Conformis, B. Braun Melsungen AG, MicroPort Scientific Corporation, NuVasive Inc., and Corin Group

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Knee Replacement Implants Market Segmentation:

Procedure Type Outlook (Revenue, USD Billion; 2019–2030)

Total Knee Replacement
Partial Knee Replacement
Revision Knee Replacement

End-use Outlook (Revenue, USD Billion; 2019–2030)

Hospitals
Clinics
Ambulatory Service Center

Component Outlook (Revenue, USD Billion; 2019–2030)

Fixed Bearing Implants
Mobile Bearing Procedure

Material Type Outlook (Revenue, USD Billion; 2019–2030)

Stainless Steel
Cobalt-Chromium Alloys
Titanium Alloys
Polyethylene
Others

Global Knee Replacement Implants Market Report: Regional Segmentation

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
South Africa
Rest of MEA

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Global Knee Replacement Implants Market: Table of Contents

Chapter 1. Methodology & Sources

1.1. Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

       1.4.1. Primary Sources

       1.4.2. Secondary Sources

       1.4.3. Paid Sources

1.5. Market Estimation Technique

Chapter 2. Executive Summary

Chapter 3. Key Insights

Chapter 4. Global Pharma & Healthcare Market Segmentation 

4.1. Global Pharma & Healthcare Market COVID-19 Impact Analysis

4.2. Industrial Outlook

       4.2.1. Market indicators analysis

       4.2.2. Market drivers’ analysis

       4.2.3. Market restraints analysis

 4.3. Technological Insights

 4.4. Porter’s Five Forces Analysis

 4.5. Regulatory Framework

 4.6. Price trend Analysis

 4.7. Competitive Metric Space Analysis

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