The global knee implant market was valued at USD 8.8
billion in 2015 and is expected to reach a value of USD 12.4 billion by 2024.
This growth is majorly attributed to growing elderly population and surging
prevalence of chronic rheumatic conditions such as osteoarthritis, rheumatoid arthritis,
and post-traumatic arthritis. Primary factors that lead to the occurrence of
arthritis are aging, physical injuries, genetic inheritance factors, abnormal
metabolism, infections, and immune system abnormalities.
Introduction of advanced
technologies and products for are anticipated to keep the industry rivalry and
market growth at par over the forecast period. For example, X3 Advanced Bearing
Technology and Mako Robotic-Arm Assisted Technology with capabilities of
providing patient-specific 3-D model to plan partial knee replacement surgery.
Also, in March 2016, Zimmer Biomet launched the Persona Medial Congruent
Bearing, which is designed to provide a more natural motion of the knee by
maximizing joint stability.
The increasing investment in
healthcare sector, geriatric population coupled with demand for minimally
invasive surgeries are major factors fueling the increasing adoption of joint
replacement procedures. In addition, untapped opportunities in developing
economies such as China, and India are further anticipated to propel the knee
implant market growth.
On the contrary, the stringent
regulatory guidelines involved in gaining approval of class III medical devices
are slowing down the approval of implants devices.
Full Research Report On Knee Implant Market Analysis:
http://www.grandviewresearch.com/industry-analysis/knee-implants-market
http://www.grandviewresearch.com/industry-analysis/knee-implants-market
Further Key Findings from the Study Suggest:
·
The total knee replacement was
the largest grossing segment in 2015 with over 75.0% and is expected to
maintain its position during the forecast period. Developed countries including
the U.S. and Germany are major contributors of this vertical. Advances in the
surgical technologies and its rising demand in the developing economies will be
a vital factor contributing to the sector growth
·
The mobile-bearing implants
segment is expected to exhibit fastest growth during the forecast period. The
growth is attributed to the associated benefits such as longer performance with
less wear and additional few degrees’ rotation compared to a fixed-bearing device
·
North America is estimated to
reign the global knee implant market in the year 2016. The region is expected
to maintain its dominance throughout the forecast period. High procedural cost
and reimbursement coverage coupled with the availability of skilled
professionals is anticipated to spur the demand for knee implants during the
forecast period
·
The Asia Pacific region is
projected to be the fastest growing regional market over the projected period.
Rapidly booming medical tourism industry in the emerging economies of India and
China is primarily propelling the demand for knee replacement products in Asia
Pacific region
·
The industry involves several
global as well as local players. Some of the major players in this sector
include Zimmer Biomet, Stryker, DePuy Synthes, Smith and Nephew, Aesculap
Implants Systems,LLC, Exactech, Inc., Medacta, MicroPort Scientific, CONMED,
Kinamed, Inc., ConforMIS, and OMNIlife science, Inc.
View More Reports Of This Category By Grand
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Grand View Research has segmented the knee
implant market by procedure type, component and region:
Procedure Type Outlook
(Revenue, USD Million, 2013 - 2024)
·
Total knee replacement
·
Partial knee replacement
·
Revision knee replacement
Component Type Outlook
(Revenue, USD Million, 2013 - 2024)
·
Fixed-bearing Implants
·
Mobile-bearing Implants
Regional Outlook (Revenue, USD
Million, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Brazil
o
Mexico
·
Middle East and Africa
o
South Africa
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Release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-knee-implant-market
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View Research
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