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Knee Replacement Market to Advance Rapidly with 4.3% CAGR and Hit USD 12.48 Billion by 2027; Rising Prevalence of Bone Diseases to Aid Market Expansion, states Fortune Business Insights™

·7 min read

Key Prominent Players Covered in the Knee Replacement Market Research Report Are Zimmer Biomet, Stryker, DePuy Synthes Companies, Smith & Nephew, Aesculap, Inc.– a B. Braun company, Medacta International, MicroPort Scientific Corporation, Conformis and other key market players.

Pune, India, Nov. 23, 2020 (GLOBE NEWSWIRE) -- The global knee replacement market size is expected to reach USD 12.48 billion by 2027, exhibiting a CAGR of 4.3% during the forecast period. The growing cases of arthritis among the general population can be a crucial factor augmenting the growth of the market, states Fortune Business Insights, in a report. The market size stood at USD 9.45 billion in 2019. The market size in North America generated a revenue of USD 5.05 billion in 2019 and is expected to witness a high growth rate during the forecast period. The growth in the region is attributed to the rising geriatric population.

KEY INDUSTRY DEVELOPMENTS:

  • October 2019: Think Surgical Inc. announced that the U.S. Food and Drug Administration has granted clearance for it to market its TSolution One system for total knee replacement in the U.S.

  • September 2017: Zimmer Biomet announced the launch of the Persona Partial Knee System, the latest addition to its portfolio of personalized and anatomically designed knee implant systems.


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Rising Diagnosis Rate of Knee Arthritis to Bolster Growth

The surge in the geriatric population will create lucrative opportunities for the market in the forthcoming years. According to the Arthritis Foundation, the annual incidence of knee osteoarthritis in the United States is highest between the age group 55 and 64 years old. The rapid surge in diagnosis of knee arthritis among the adult population is expected to enable speedy expansion of the market in the forthcoming years.

The rising prevalence of knee osteoarthritis is a key factor in promoting the growth of the market. According to the Osteoarthritis Research Society International (OARSI), the prevalence of global knee osteoarthritis is likely to reach 5% with the rise in the aging population. The growing number of knee replacement surgeries around the world is likely to have a positive effect on the market.


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Favorable Reimbursement Policies to Favor Growth in North America

The market size in North America generated a revenue of USD 5.05 billion in 2019 and is expected to witness a high growth rate during the forecast period. The growth in the region is attributed to the rising geriatric population. The rising inclination towards computer-aided implant designs will foster healthy growth in North America.

The robotic-assisted surgeries and favorable reimbursement policies in the U.S will aid the expansion of the market during the forecast period. Europe is expected to rise tremendously due to the rising number of chronic diseases such as diabetes. The growing prevalence of the bone disease will further speedy expansion of the market. The Innovations in material and design of the implants is expected to boost the growth of the market.


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The Report Lists the Main Companies in the Knee Replacement Market:

  • Zimmer Biomet (Indiana, U.S.)

  • Stryker (Michigan, U.S.)

  • DePuy Synthes Companies (Johnson & Johnson Services, Inc.) (Indiana, U.S.)

  • Smith & Nephew (London, U.K.)

  • Aesculap, Inc.– a B. Braun company (Center Vally, USA)

  • Medacta International (Castel San Pietro, Switzerland)

  • MicroPort Scientific Corporation (Shanghai, China)

  • Conformis (Massachusetts, U.S.)

  • Other Prominent Players


Global Knee Replacement Market Segmentations:

By Procedure

• Total Knee Arthroplasty

• Partial Knee Arthroplasty

• Revision Knee Arthroplasty

By Implant Type

• Fixed Bearing

• Mobile Bearing

• Others

By End-user

• Hospitals

• Orthopedic Clinics

• Ambulatory Surgical Centers

• Others

By Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa


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SECONDARY DATA SOURCES THAT WE REFER TO:

  • Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market

  • Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.

  • Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics

  • Industry journals and paid databases

SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:

  • Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies

  • Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.

  • Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility

  • Number of procedures and average price of procedures

  • Replacement rate and pricing of capital equipment

  • Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities

  • Market & technological trends, new product developments, product pipeline.


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