The report titled “Global Knee Implant Market” assesses the knee implant market globally based on type, procedure type, material, end use, component, and region. A comprehensive report provides a detailed historical and future market size with a trend analysis. The market share analysis, production capabilities of the top companies, an overview of the competition, market strategies, potential growth areas, and competition analysis for the target players are evaluated in the global knee implant market study.
Market Overview and Dynamics: Growth of Knee Implants in Global to be backed by government support
The global knee implant market is expected to grow at a CAGR of around 9.3% during the forecast period of 2022-2028. The constantly increasing obesity and degenerative diseases in the global population are expected to contribute to the demand for knee implants in the upcoming years. In addition, as more and more young people suffer from joint injuries at a very young age resulting from sports activities and everyday wear and tear, are expected to fuel the demand for knee implants in the upcoming years.
- Moreover, the emerging technologies in the global knee implant market like the use of robotic technologies in assisting a surgeon with implant positioning. The development of customized replacement implants, coupled with technologically enhanced implant materials, is expected to acquire substantial traction in the knee replacement market.
- Furthermore, robotic technology is increasing procedure precision and decreasing reliance on physicians for surgical outcomes. However, the use of precious metals in the manufacture of these implants, in conjunction with innovative technologies, makes these items expensive. Furthermore, keeping in mind many governments’ rigorous laws, the certification of these products adds to the high expenses.
- In addition, the growing awareness of possible treatments available, the increasing geriatric population, etc. is expected to drive the fast-paced growth of the knee implants market. Moreover, the increasing disposable income among the global population is further expected to fuel the demand for knee implants.
Segmental Analysis
- Based on type, conventional knee implants hold a prominent share of the market. However, smart knee implants are slowly gaining traction in the global knee implants market owing to the growing awareness among the global population about the development of smart knee implants.
- Based on the End user, hospitals, and clinics are anticipated to hold a dominant share in the market as hospitals are well equipped with all necessary equipment needed for treatment and other related purposes.
Competition Analysis: Smart knee implants to lead the growth of the global knee implant market in the upcoming years
Due to the presence of many well-established companies in the global knee implant market, there is intense competition in the global knee implant market. The global knee implant market is expected to witness a pool of export opportunities due to the increasing prevalence of knee disorders, flourishing medical tourism, rise in disposable incomes, and gradually improving healthcare infrastructure.
Acquisitions, product launches, and partnerships are the identified industry trend in the global knee implant market. Significant market activities are expected in the global knee implant market during the forecast period 2022-2028.
- In August 2021, The US Food and Drug Administration (FDA) awarded a De Novo classification grant authorization to Zimmer Biomet and Canary Medical to market the tibial extension for Persona IQ for total knee replacement surgery.
- In March 2021, Zimmer Biomet delivered multiple robotics launches, debuted the world’s first-and-only “smart” knee implant, offered new functionality with mymobility®, and unveiled our ZBEdge™ ecosystem of connected technologies.
Some of the prominent players that contribute significantly to the global Knee Implant include Zimmer Biomet, ConforMIS, DePuy Synthes, MicroPort Scientific Corporation, Stryker Corporation, Exactech Inc, Medacta, Aesculap Implants Systems LLC, Kinamed, CONMED, Omnilife sciences Pvt Ltd, Smith & Nephew Plc, Johnson & Johnson, Integra Life Sciences Corporation, Corin Group, and B Braun Melsungen AG among Others.
RationalStat has segmented the global knee implant market on the basis of type, procedure type, material, end use, component, and region.
- By Type
- Conventional Knee Implants
- Smart Knee Implants
- By Procedure Type
- Total Knee Replacement
- Partial Knee Replacement
- Revision Knee Replacement
- By Material
- Stainless Steel
- Titanium Alloys
- Polyethylene
- Cobalt-Chromium Alloys
- Others (Bone Cement, etc.)
- By End Use
- Hospitals
- Ambulatory Service Center
- By Component
- Fixed Bearing Implants
- Mobile Bearing Implants
- By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Turkey
- Rest of the Middle East & Africa
- North America
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