Total Knee Replacement Market size worth $ 14.9 Billion, Globally, by 2030 at 6.2% CAGR: Verified Market Research®
The rise in the geriatric populace, the rising pervasiveness of knee osteoarthritis, and an increase in the body mass levels of the younger population are some of the factors to lead the Total Knee Replacement Market growth.
LONDON, June 16, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Total Knee Replacement Market" By Product Type (Primary Knee Replacement Systems, Revision Knee Replacement Systems), By Implant Type (Fixed-Bearing Implants, Mobile-Bearing Implants), By Procedure (Total Knee Arthroplasty, Partial Knee Arthroplasty), By End-Use (Hospitals, Orthopedic Clinics), and By Geography. According to Verified Market Research, the Total Knee Replacement Market size was valued at USD 8.33 Billion in 2021 and is projected to reach USD 14.9 Billion by 2030, growing at a CAGR of 6.2% from 2022 to 2030.
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Browse in-depth TOC on "Total Knee Replacement Market"
202 - Pages
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Global Total Knee Replacement Market Overview
The Global Knee Replacement Market is significantly determined by the expanding geriatric populace leading to mature age sicknesses like joint inflammation, osteoporosis, and diabetes. As the medical industry is advancing, the diagnosis rates of illnesses have increased. Due to this rise in the rates, the adult population that is suffering from these illnesses are aware of their problems and hence have started opting for these replacement surgeries. This contributes to the growth of this market. The increase in the number of knee replacement medical procedures throughout the world is probably going to positively affect the market. As more and more individuals become aware of the technological trends like robot-assisted knee surgeries they start opting for these procedures and thus increasing the growth of this industry.
It also coaxes other market players to conduct research and development and come up with painless ways of performing surgeries. Surgeries like robot-assisted surgeries are promoting high efficiency and accuracy and hence reduce the rates of surgery failures. Also, rising innovative headways as innovative intrusive medical procedures alongside the presence of better embed materials are going to drive the development of the knee replacement market. Nonetheless, the significant expense of inserts and developing mindfulness for non-careful treatment techniques are probably going to hamper the development of the market.
- In July 2020, Corin a leading provider of a unique combination of clinically proven hip, knee, ankle, and shoulder solutions and world-leading technologies, received 510(k) clearance from the United States Food & Drug Administration (FDA) for the latest OMNIBotics software update 2.6. This will help them to use Unity Knee total knee implant system with the robotic-assisted procedure in the United States region.
- In September 2019, Johnson & Johnson Medical Devices Companies, a global leader in medical devices used to treat orthopedic trauma announced that DePuy Synthes is launching the ATTUNE Cementless Knee in a rotating platform option in select markets around the world. This will help the company to meet the demands of their active lifestyle today and into the future.
The major players in the market are Zimmer Inc., DePuy Synthes, Stryker, Smith and Nephew, Exactech Inc., Corin Group, Aesculap Implants Systems LLC, Medacta International, Allegra Orthopaedics Limited, and Kinamed, Inc.
Verified Market Research has segmented the Global Total Knee Replacement Market On the basis of Product Type, Implant Type, Procedure, End-Use, and Geography.
- Total Knee Replacement Market, By Product Type
- Primary Knee Replacement Systems
- Revision Knee Replacement Systems
- Partial Knee Replacement Systems
- Total Knee Replacement Market, By Implant Type
- Fixed-Bearing Implants
- Mobile-Bearing Implants
- Medial Pivot Implants
- Total Knee Replacement Market, By Procedure
- Total Knee Arthroplasty
- Partial Knee Arthroplasty
- Revision Knee Arthroplasty
- Total Knee Replacement Market, By End-Use
- Orthopedic Clinics
- Ambulatory Surgical Centers
- Total Knee Replacement Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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