Knee Arthroplasty Market Is Anticipated To Grow At A CAGR Of 4.5% From 2019 To 2030.
Market Industry Reports (MIR) has published a new report titled “Knee Arthroplasty Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global knee arthroplasty market accounted for US$ 8,804.8 Million in 2019. It is anticipated to grow at a CAGR of 4.5% from 2019 to 2030.
The rising prevalence of several orthopedic diseases, increasing technological advancements and the growing aging population have augmented the market growth of knee arthroplasty globally. The increasing prevalence of osteoarthritis will further contribute to this market growth. Osteoarthritis is one of the most common reasons for knee replacement surgeries globally. According to the Canadian Institute for Health Information, approximately 70,000 knee replacements were performed in Canada in 2017–2018. It is also estimated that the number of patients undergoing joint replacements surgeries would drastically increase in the coming years.
Robotic total knee replacement, press-fit implant technology, customized 3-D implant printing, wound closure technology, neuromuscular electrical stimulation, innovative pain management technologies, and other advanced procedures will further propel the global knee arthroplasty market. For instance, Corin, a worldwide orthopedic manufacturer of functional implants and other medical equipment, launched Unity Knee with EquiBalance instrumentation, at the American Academy of Orthopaedic Surgeons (AAOS) 2018 Annual Meeting to facilitate ligament balancing and soft-tissue preservation during total knee replacement surgeries.
Players operating in the knee arthroplasty market are increasingly resorting to ‘Inorganic Growth Strategy’ to fortify their foothold in the market. Strategic developments, such as mergers & acquisitions and partnerships are contributing significantly to market growth. For instance, in March 2019, Exactech, Inc., acquired XpandOrtho, a manufacturer of soft-tissue balancing instruments required in knee replacement surgeries. Exactech will incorporate XpandOrtho’s technology to improve its ExactechGPS Guided Personalized Surgery System, a compact, surgeon-controlled navigation system that assists in both shoulder & knee replacement surgeries.
Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, Knee Arthroplasty Market by Product (Primary Knee Systems, Revision Knee Systems, and Partial Knee Systems), Component (Total Knee Component, Femoral Component, Tibial Component, and Patellar Component), Implant Design (Posterior-Stabilized Designs, Cruciate-Retaining Designs, and Bicruciate-Retaining Designs), End Users (Hospitals, Orthopedic Specialty Centers, and Ambulatory Surgical Centers (ASC’s)) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/knee-arthroplasty-market/224
There are several non-surgical alternatives, such as lifestyle modification, exercise, physical therapy, anti-inflammatory medications, dietary supplement, joint fluid therapy and bracing, which physicians encourage patients to try before undergoing knee arthroplasty. The adoption of these non-surgical alternatives to knee surgery is likely to restrain market growth to a certain extent.
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing prevalence of various knee-related ailments, preference for advanced surgical procedures by patients, increasing research & development in the healthcare sector, and advancement in knee arthroplasty devices will play a pivotal role in boosting market growth in this region. In 2018 China held the largest share in Asia Pacific owing to its large population base and ongoing studies in the development of techniques for treatment of knee ailments, such as knee osteoarthritis.
Some of the prominent players in the global knee arthroplasty market include Zimmer Biomet, Stryker, B. Braun Melsungen AG, DePuy Synthes, Integra LifeSciences Corporation, Corin, Allegra, Arthrex, Inc, Exactech, Inc., and Wright Medical Group N.V., among others.
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