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Market Scenario
The global Knee Replacement Market is presumed to experience
6.1% CAGR during the forecast period (2017-2023) owing to the increasing
geriatric population, asserts Market Research Future (MRFR). Knee replacement
is also referred to joint replacement surgery which is meant for patients suffering
from knee damage. Diseases such as post-traumatic arthritis, osteoarthritis,
and rheumatoid arthritis generally cause knee damage. Knee arthroplasty or knee
replacement is performed to replace damaged knee with artificial knee implants.
Drivers and Constraints Impacting the Market
Knee replacement is highly driven by the geriatric
population due to old age ailments such as osteoporosis, arthritis, and
diabetes. Advent of advanced technologies such as minimally invasive surgery,
presence of better implant materials, and extensive research and development
activities in the industry are considered to propel the market during the
assessment period. According to the American Joint Replacement Registry, 87 %
of the diagnosed osteoarthritis cases undergo knee replacement. With growing
prevalence of osteoarthritis, the number of knee replacement has risen. Also,
the adaptation of sedentary lifestyle has led to obese population which is
considered to foster the Knee
replacement market trends in the future.
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Competitive Dashboard
The major players operating the global market are DePuy
Synthes, Allegra Orthopaedics Limited, Exactech Inc., Smith and Nephew, Zimmer
Inc., Stryker, and Kinamed Inc.
Global Knee Replacement Market: Segmental Analysis
The global knee replacement market has been segmented on the
basis of material, product type, end-user, and region.
By mode of product type, the global knee replacement market
has been segmented into total knee reconstructive implants, partial knee
reconstructive implants, and revision knee reconstructive implants. Among
these, the total knee reconstructive implants are further sub-segmented into
fixed bearing implants, mobile bearing implants, medial pivot implants, and
others.
By mode of material, the global knee replacement market has
been segmented into ceramic material, metal alloy, strong plastic parts, and
others.
By mode of end-users, the global knee replacement market has
been segmented into specialty centers, hospitals and clinics, and
rehabilitation centers.
Regional Insights
Geographically, the knee replacement market spans across
regions namely, North America, Europe, Asia Pacific, and the Middle East and
Africa.
Among all the regions, the North American market is
considered to be a growing market owing to the growing geriatric population
affected by knee disorders. Also, growing awareness regarding joint treatments
are further considered to drive the market during the assessment period. For
instance, according to the American Joint Replacement Registry, more than
161,040 joint replacement procedures were performed in 2015.
Europe is presumed to be the second largest market after
North America and is estimated to hold a noticeable share. The growth is
attributed to the availability of advanced and innovative treatment facilities
coupled with growing skilled medical professionals in this region. Also, with
the growing geriatric population giving rise to patient population, the market
is considered to expand at a rapid pace.
Asia Pacific is presumed to be the fastest growing market owing
to the increasing prevalence of joint disorders such as osteoarthritis and
arthritis. Increasing awareness about health along with availability of
advanced treatment methods are likely to foster the market in this region.
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