Global Total Knee Replacement Market Report 2022: Asia Pacific is Forecasted to be the Fastest-Growing Market in the Coming Years
DUBLIN, Jan. 24, 2023 /PRNewswire/ -- The "Total Knee Replacement Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Cause, By Material, By Implant Fixation, By End-User, By Region, Competition, Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
Global total knee replacement market is expected to witness significant growth during the forecast period, 2024-2028
The rising prevalence of osteoarthritis coupled with rise in the geriatric population, which is anticipated to bolster the growth of the market in the upcoming years. The rising awareness among population about the new innovations and designs of knee implants and advanced technologies such as robot-assisted knee surgeries are surging the demand for the knee replacement medical procedures across the world.
This contributes to the growth of this market. For instance, in 2021, Zimmer Biomet Holdings, Inc. and Canary Medical declared that U.S. Food and Drug Administration (FDA) has granted De Novo classification and authorization to market the tibial extension for Persona IQ, the world's first and only smart knee cleared by the FDA for total knee replacement surgery.
Knee Replacement also known as knee arthroplasty is a joint surgery to replace the affected parts of the knee to assuage torment and handicap. A knee replacement medical procedure is performed on patients that are diagnosed with osteoarthritis.
However, the high cost of the knee replacement procedures makes it impossible for the common people to opt for them, which, in turn, is restraining the growth of the market. Besides, limited availability of skilled surgeons in developing regions are expected to slow down the growth of the market.
The global total knee replacement market is segmented into cause, material, implant fixation, end-user, company, and region. The cause segment is further divided into osteoarthritis, rheumatoid arthritis, and post-traumatic arthritis. The osteoarthritis segment is expected to hold the largest share during the forecast period. This is attributed to rapid increase in the geriatric population, increasing number of people suffering with osteoarthritis, and the rising cases of injuries.
On the basis of region, North America has accounted as the largest market share in the year 2022. This is due to presence of various total knee replacement-based companies and hospitals along with growing adoption of advanced surgical procedures.
Moreover, Asia Pacific is forecasted to be the fastest-growing market, in the coming years. This is attributed to the large population, improving healthcare infrastructure, and heavy investments in healthcare sector.
Objective of the Study:
- To analyze and forecast the market size of global total knee replacement market.
- To classify and forecast global total knee replacement market based on cause, material, implant fixation, end-user, company, and region.
- To identify drivers and challenges for global total knee replacement market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global total knee replacement market.
- To conduct pricing analysis for global total knee replacement market.
- To identify and analyze the profile of leading players operating in global total knee replacement market.
Company Profiles: Detailed analysis of the major companies present in global total knee replacement market.
- SurgTech Inc.
- Zimmer Biomet Holdings, Inc.
- Think Surgical Inc.
- Corin Group
- Smith & Nephew plc
- Stryker Corporation
- Aesculap, Inc.
- Medacta International SA
- Johnson & Johnson Services, Inc.
- Exactech, Inc.
Total Knee Replacement Market, By Cause:
- Rheumatoid arthritis
- Post-traumatic arthritis
Total Knee Replacement Market, By Material:
Total Knee Replacement Market, By Implant Fixation:
- Cement less
Total Knee Replacement Market, By End-User:
- Orthopedic Centers
Total Knee Replacement Market, By Region:
- South Korea
- United Kingdom
- North America
- United States
- South America
- Middle east & Africa
- South Africa
- Saudi Arabia
For more information about this report visit https://www.researchandmarkets.com/r/j584f4
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SOURCE Research and Markets
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