The global knee reconstruction devices market is expected to grow significantly owing to the growing elderly population and the increasing prevalence of knee-associated musculoskeletal disorders such as osteoarthritis, rheumatoid arthritis, psoriatic arthritis, and others. In addition, the growing demand for minimally invasive surgeries and technological advancements to improve product efficiency are key knee reconstruction devices market drivers.
LAS VEGAS, Dec. 6, 2022 /PRNewswire/ — DelveInsight’s Knee Reconstruction Devices Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies’ market shares, challenges, knee reconstruction devices market drivers, barriers, and trends, and key knee reconstruction devices companies in the market.
Key Takeaways from the Knee Reconstruction Devices Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global knee reconstruction devices market during the forecast period.
- Key knee reconstruction devices companies such as Zimmer Biomet, Stryker, Smith & Nephew, DePuy Synthes, Exactech, Inc., Corin, Microport Scientific Corporation, and several others are currently dominating the knee reconstruction devices market.
- In November 2022, Zimmer Biomet Holdings Inc. announced that it’s Persona OsseoTi keel tibia had received FDA 510(k) clearance for patients undergoing cementless total knee replacement.
- In November 2022, Exactech, a developer and manufacturer of innovative implants, instrumentation, and smart technologies for joint replacement surgery, announced that the TriVerseTM primary knee system had received 510(k) clearance from the US Food and Drug Administration.
- In September 2022, Smith+Nephew announced that it used its Cori surgical system to perform the first robotically guided revision procedures in patients with total knee replacements.
- In July 2022, Enovis launched its wearable Arvis, which stands for augmented reality visualization and information system, an orthopedic navigation device.
- In August 2021, Fuse Medical, Inc. announced FDA 510(k) Clearance of the Sterizo™ Tibial Revision Knee System and PS plus Posterior Stabilized Tibial Insert.
To read more about the latest highlights related to the knee reconstruction devices market, get a snapshot of the key highlights entailed in the Global Knee Reconstruction Devices Market Report
Knee Reconstruction Devices Overview
Knee reconstruction devices are intended to replace cartilage and bone that has been damaged due to musculoskeletal disease or aging. Total knee arthroplasty systems, partial knee arthroplasty systems, and other replacement devices are available. Knee replacement, also known as knee arthroplasty, is a type of joint replacement surgery in which damaged tissues in the knee are removed and replaced with an artificial joint or implant. This surgery is used to treat patients who have post-traumatic arthritis, osteoarthritis, or rheumatoid arthritis. During surgical procedures, implants are made of materials such as metal alloys, ceramic material, or plastic. The primary goal of knee replacement is to resurface damaged parts of the knee joint and to relieve patients’ chronic knee pain.
Knee Reconstruction Devices Market Insights
North America is expected to dominate the global knee reconstruction devices market during the forecast period. This dominance is due to the region’s advanced healthcare systems, as well as an increase in healthcare spending. Furthermore, adequate reimbursement policies are driving factors.
Additionally, in the United States, the rising obesity rate has resulted in an increase in total knee arthroplasties (TKAs) performed on patients with a higher BMI (BMI). Furthermore, the recent increase in arthroplasty procedures is expected to boost the knee reconstruction devices market in the region. The presence of key regional players, including Zimmer, Stryker, and DePuy Synthes, is also a driving factor for the knee reconstruction devices market.
Furthermore, the Asia-Pacific region has a high potential for future growth in the global knee reconstruction devices market. This is due to improved healthcare infrastructure, rising per capita healthcare expenditure, rising disposable income, an aging population coupled with an increase in musculoskeletal disorders, and a high rate of obesity among the Asian population, which will also contribute to the region’s knee reconstruction and replacement devices, as overweight and obese patients are at an increased risk of knee replacement surgery, respectively, compared to patients with normal weight.
To know more about why North America is leading the market growth in the knee reconstruction devices market, get a snapshot of the report Knee Reconstruction Devices Market Outlook
The goal of knee reconstruction and replacement surgery is to repair damaged tissues and cartilage in the knee joint and restore function using artificial implants/prostheses. The growing geriatric population worldwide, which is prone to knee pain caused by disorders such as rheumatoid arthritis, psoriatic arthritis, and osteoarthritis, among others, is expected to drive up demand for knee reconstruction procedures and devices in the coming years.
Furthermore, the incorporation of Artificial Intelligence (AI) and Robotics in knee replacement surgical procedures to improve the efficiency of devices and procedures has been observed in various research studies, and an increase in R&D expenditure, as well as recent product launches of robotic-assisted solutions for knee replacement surgeries, is expected to boost the global knee reconstruction devices market.
However, certain factors, such as a scarcity of skilled surgeons and the high cost of surgery and knee arthroplasty devices, are limiting global demand for knee reconstruction devices, particularly in developing countries with limited healthcare expenditures.
Get a sneak peek of the knee reconstruction devices market @Knee Reconstruction Devices Market Dynamics Analysis
|Market CAGR||4.52 %|
|Projected Knee Reconstruction Devices Market Size by 2027||USD 10.57 Billion|
|Key Knee Reconstruction Devices Companies||Zimmer Biomet, Stryker, Smith & Nephew, DePuy Synthes, Exactech, Inc., Corin, Microport Scientific Corporation, among others|
Knee Reconstruction Devices Market Assessment
- Knee Reconstruction Devices Market Segmentation
- Market Segmentation By Product Type: Total Knee Arthroplasty Systems, Partial Knee Arthroplasty Systems, and Knee Revision Systems
- Market Segmentation By Implant Type: Fixed Tibial Bearing Implants, Mobile Tibial Bearing Implants, and Medial Pivot Implants
- Market Segmentation By Fixation: Cemented and Cementless
- Market Segmentation By End User: Hospitals, Orthopedic Clinics, and Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which key players in the knee reconstruction devices market are set to emerge as the trendsetter explore @Knee Reconstruction Devices Companies
Table of Contents
|3||Regulatory and Patent Analysis|
|4||Key Factors Analysis|
|5||Porter’s Five Forces Analysis|
|6||COVID-19 Impact Analysis on Knee Reconstruction Devices Market|
|7||Knee Reconstruction Devices Market Layout|
|8||Global Company Share Analysis – Key 3-5 Companies|
|9||Company and Product Profiles|
Interested in knowing how the knee reconstruction devices market will grow by 2027? Click to get a snapshot of the Knee Reconstruction Devices Market Trends
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SOURCE DelveInsight Business Research, LLP