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Knee Implant Market is expected to reach US$ 18.90 billion by 2030

The knee implant market size is foreseen to cross US$ 18.90 billion by 2030 | Insights on global and regional growth opportunities

By The Insight Partners

Total Knee Replacement to Dominate Knee Implant Market Share During 2022–2030 

According to our new research study on "Knee Implant Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis," the knee implant market size is projected to grow from US$ 12.97 billion in 2022 to US$ 18.90 billion by 2030; the market is anticipated to record a CAGR of 4.82% from 2022 to 2030. Increasing cases of knee injuries, particularly among athletes and active people, have accentuated the demand for knee implants to address trauma-related joint damage. As the population ages and lifestyles continue to emphasize physical activity, the market is expected to expand further to provide effective and advanced orthopedic solutions for joint replacement procedures.

The knee implant market trends include the increasing prevalence of osteoarthritis and a rise in knee injury cases. Osteoarthritis, known as the most common type of arthritis, has demonstrated a substantial surge, particularly among aging populations and individuals affected by obesity. This trend has underscored the growing need for knee implant surgeries to alleviate pain, restore mobility, and improve the quality of life for affected individuals. Institute For Health Metrics And Evaluation claims that, by 2050, around 1 billion individuals worldwide will have osteoarthritis. As per current estimates, 15% of people who are aged 30 and above have osteoarthritis. Osteoarthritis prominently affects the hands and knees. Osteoarthritis will rise by 50% in the hands and by 75% in the knees by 2050.

Knee Implant Market Market, by Region, 2022 (%)

To get sample Copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPHE100000780

However, the high cost of orthopedic procedures and limited availability impede the knee implant market growth. The considerable expenses associated with orthopedic surgeries, including knee implant procedures, can restrict access to these treatments, particularly for patients with limited financial resources or those residing in underserved areas. Additionally, extensive training, expertise, and infrastructure required for orthopedic surgeries, coupled with the complex nature of knee implant procedures, have led to a scarcity of skilled orthopedic surgeons in certain regions. This limited availability may create significant waiting times for orthopedic procedures, impacting patient access and healthcare delivery.

The knee implant market analysis is carried out by identifying and evaluating key players in the market across different regions. Zimmer Biomet; CONMED; Stryker; Smith and Nephew; DePuy Synthes; Aesculap Implants Systems, LLC; Medacta; Exactech, Inc.; MicroPort Scientific; Kinamed, Inc.; ConforMIS; and OMNIlife science, Inc. are a few key companies operating in the knee implant market report. Companies have been implementing organic (product launches, expansions, and product approvals) and inorganic (partnerships and collaborations) strategies that contribute to their growth and lead to market transformation.

The Knee implant market forecast can help stakeholders plan their growth strategies. In October 2023, the first KA-optimized femoral component for total knee replacement, GMK SpheriKA, was released by Medacta Group S.A.. This Swiss firm offers cutting-edge, customized, and sustainable solutions for sports medicine, spine surgery, and joint replacement.

The report segments the market as follows:

The “knee implant market analysis” has been carried out by considering the following segments: based on type of procedures, implant type, material, and end user. By type of procedure, the market is divided into total knee replacement, partial knee replacement, and revision knee replacement. Based on implant type, the market is bifurcated into fixed-bearing prostheses and mobile-bearing prostheses. In terms of material, the market is divided into total cemented and non-cemented. By end user, the market is segmented into hospitals, ambulatory surgical centers, and others.

Geographically, the knee implant market report is primarily divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In terms of revenue, North America dominated the knee implant market share owing to a higher incidence of knee replacement in the US. Furthermore, factors such as an increase in accident cases and a rise in the number of people with degenerative diseases are responsible for the spike. According to a report released in June 2021 by the Canadian Institute for Health Information, about 75,073 knee replacements were carried out in Canada in 2020. Furthermore, the strategic presence of key players positions the US as a key country for the knee implant market growth. Additionally, it stated that Canada spends more than US$ 1.4 billion annually on knee replacement surgery.

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