Global Knee Implants Market To Reach Worth USD 13.5 Bn By 2025
According to the latest report published by Credence Research, Inc. “Knee Implants Market – (Procedure Type – Total Knee Replacement, Partial Knee Replacement and Revision Knee Replacement; Material Type – Stainless Steel, Cobalt-chromium alloys, Titanium and titanium alloys, Polyethylene, Ceramics and Others); Market Growth, Future Prospects and Competitive Analysis, 2017-2025” the market was valued at USD 9.0 Bn in 2015, and is expected to reach USD 13.5 Bn by 2025, expanding at a CAGR of 4.5% from 2017 to 2025.
Browse the full report Knee Implants Market: Market Growth, Future Prospects and Competitive Analysis, 2017-2025 at https://www.credenceresearch.com/report/knee-implants-market
Knee replacement surgery is an orthopedic surgery wherein the damaged knee is replaced by artificial components called implants. There are different types of implants used in the knee replacement surgery depending on the knee problem, knee anatomy, as well as age, weight and activity level. When the knee doesn’t respond to medications and treatment, knee replacement surgery is suggested. Advancements in medical technology have led to precise and highly functional artificial knee implants that nearly duplicate the way the human knee moves which is fueling the growth of knee implants market. On the basis of type of replacement surgeries, the global knee implant surgery is segmented into total knee replacement, partial knee replacement and revision knee surgery. Total knee replacement (TKR) surgery holds the largest share in the knee implants market. TKR is the traditional method and the most effective method of repairing a damaged knee. During a TKR, the surgeon removes the surface of the bones that have been damaged by osteoarthritis or other causes and replaces the knee with an artificial implant that is selected to fit the knee anatomy. According to survey, more than 95% of the patients in U.S. are satisfied with the outcome of their total knee replacement surgery. On the basis of materials, the knee implants market is segmented as stainless steel, cobalt-chromium alloys, titanium and titanium alloys, polyethylene, ceramics and others. Titanium and titanium alloys held the largest share in the global knee implants market by material due to its bio-compatible and inert nature and hence is the most preferred type of material. The most popular titanium alloy is use is Ti6Al4V. Cobalt-chromium alloys is just as widely used as titanium due to its extremely inert, bio-compatible and durable properties. Polyethylene material is the fastest growing material in the global knee implants market due to factors such as low weight, high tensile strength and less chances of corrosion, driving the global knee implants market.
In the base year 2016, North America was observed as the largest revenue generating market for knee implants, where the U.S. held the largest market share due to technological advancements in orthopedic implants, such as the use of bio-compatible materials, application of 3D printing technology in obtain precise implants, robotic-assisted and minimally invasive surgeries, and navigation technology are the factors driving the knee implants market in North America. Asia-Pacific is expected to emerge as the fastest growing region during the forecast period due flourishing medical tourism in the region especially in the countries such as India, China, and Thailand is boosting the demand for knee replacement market in Asia-Pacific Market.
Market Competition Assessment:
The facial injectables market currently possesses large number of companies having their products marketed. However, most of the companies are located in the North America, Europe and others developed regions. The companies have untapped opportunities in the developing regions of Asia Pacific and Latin America. The companies include, Aesculap Implants Systems, CONMED, ConforMIS, Exaxtech, DePuy Synthes, Stryker, Zimmer Biomet and Others.
Key Market Movements:
- Rise in aging population is the one of the driving factors for growing demand for knee replacement surgeries.
- Growing awareness and number of people opting for prosthetic surgeries is increasing the demand for orthopedic implants globally.
- Continuous introduction of new products and high level promotional activities are aggressively barraging information about such products.
- Advances in the surgical technologies and its rising demand in the developing economies will be a vital factor contributing to the sector growth
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