The Global Knee Implants Market size is estimated to be USD 10.29 billion in 2019 and is predicted to reach USD 15.35 billion by 2030 with a CAGR of 3.7% from 2020-2030. Knee implants are used in knee replacement procedures in hospitals and ambulatory surgical centers. The procedure is commonly used for treating patient with orthopedic conditions such as rheumatoid arthritis, osteoarthritis, post-traumatic arthritis, or injuries. The implant is made of different type of material such as stainless and alloys including cobalt-chromium alloys and titanium alloys.
Market Dynamics and Trends:
The growth of knee implants market is expected to be driven by a number of factors such as rising geriatric populationin emerging economies such as China, India, and Australia, ever increasing prevalence of orthopedic disorders such as arthritis and increase in the demand for knee implants for total knee replacement surgery. International Osteoporosis Foundation estimated that 200 million women suffer from osteoporosis across the globe.
Furthermore, increase in the awareness about availability of orthopedic procedures, demand for joint replacement surgeries and increase in the demand for minimally invasive surgical procedures are also other factors boosting the growth of the market during the forecast period. Additionally, growing government initiatives such as price caps, especially in developing countries in India and favorable reimbursement policiesmay drive the market.However, factors such as product recalls, patent infringement issues and stringent regulatory requirementare likely to restrain the growth of the market. In developing nations, increase in the availability of technological advanced devices and strengthening healthcare system are expected to support the growth of the market.
Technological advancement in knee implants and increase in the demand for customized knee implants further fuel the growth of the market. For instance, ConforMIS, medical technology company manufacturers customized implants which are based on iFit Image-to-Implant technology platform. In March 2016, the company launched of iTotal PS, the customized posterior stabilized total knee replacement system. Also, new products launched by the market players and rise in the number of mergers & acquisitions and other strategic approaches by the market players are expected to propel the market in near future. Most of the market players also focus geographical and product portfolio expansion which further them to achieve significant and market share in knee implants market.
Market Segmentations and Scope of the Study:
The global knee implants market share is analyzed on the basis of procedure type, material, component type, and geography. On the basis of product, the market is segmented into total knee replacement, partial knee replacement and revision knee replacement.According to the material, the market is classified into stainless steel, cobalt-chromium alloys, titanium alloys, polyethylene, ceramics and others. Based on component type, the market is segmented into fixed-bearing implants and mobile-bearing implants. The regional analysis of the market comprises of North America, Europe, Asia Pacific, and Rest of the World.
There has also been an increase in the number of knee replacement procedures in ambulatory care centers in developed nations such as the U.S.This is expected to fuel the growth of the market as patients now opt for ambulatory care centers for a number of surgical procedures.
Comprehensive competitive analysis and profiles of major market players such as Zimmer Biomet, Stryker, CONMED, DePuySynthes, Smith and Nephew, MicroPort Scientific, Aesculap Implants Systems,ConforMIS, Exactech, Inc., and OMNIlifescience, Inc.is also provided in this knee implants market report.
- The study provides an in-depth analysis of the knee implants market with current and future trends to elucidate the imminent investment pockets in the market.
- Current and future knee implants market trends are outlined to determine the overall attractiveness and to single out profitable trends to gain a stronger foothold.
- The knee implants market report provides information regarding key drivers, restraints and opportunities with impact analysis.
- Quantitative analysis of the current market and estimations through 2019-2030 are provided to showcase the financial caliber of the market.
- Porters Five Forces model and SWOT analysis of the industry illustrates the potency of the buyers & suppliers participating in the knee implants market.
- Value chain analysis in the knee implants market report provides a clear understanding of the roles of stakeholders involved in the value chain.
KEY MARKET SEGMENTS:
- Global Knee Implants Market – By Procedure Type
- Total Knee Replacement
- Partial Knee Replacement
- Revision Knee Replacement
- Global Knee Implants market – By Component Type
- Fixed-bearing Implants
- Mobile-bearing Implants
- Global Knee Implants market – By Material
- Stainless steel
- Cobalt-chromium Alloys
- Titanium Alloys
- Global Knee Implants market – By Geography
- North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Latin America
- Middle East
- North America