The Knee Implants Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Knee Implants Global Market Report 2024, The knee implants market size has grown strongly in recent years. It will grow from $11.39 billion in 2023 to $11.96 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to rising aging population, prevalence of osteoarthritis, advancements in implant materials, increasing acceptance of minimally invasive surgeries, patient awareness and education programs
The knee implants market size is expected to see strong growth in the next few years. It will grow to $14.79 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to personalized and customized implants rise in sports-related injuries, increasing global health expenditure, advancements in robotics-assisted surgery, rising obesity rates, focus on outpatient and ambulatory surgery centers. Major trends in the forecast period include patient-specific implants, minimally invasive surgery (mis), smart implants and iot integration, biocompatible materials and surface technologies, outpatient knee replacement surgery.
The increasing prevalence of orthopedic disorders is expected to boost the growth of the knee implants market going forward. Orthopedic disorder refers to illness or injury to the musculoskeletal system, which includes the bones, joints, muscles, tendons, and ligaments. People with orthopedic conditions can decrease pain and incapacity by replacing the damaged knee joint surfaces with knee implants; hence, the increasing prevalence of orthopedic disorders is expected to boost the knee implant market. For instance, according to a report published by the Centers for Disease Control and Prevention, a US-based national public health institute, in 2023, 25.9% of the projected total adult population, or 78.4 million individuals aged 18 and older, are anticipated to have arthritis by 2040. A further 34.6 million individuals (43.2% of arthritis-affected adults or 11.4% of all US adults) are predicted to experience activity limits related to arthritis by the year 2040. Therefore, the increasing prevalence of orthopedic disorders is driving the growth of the knee implants market.
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The knee implants market covered in this report is segmented –
1) By Product: Total Knee Replacement, Partial Knee Replacement, Revision Knee Replacement
2) By Component Type: Fixed-Bearing Implants, Mobile-Bearing Implants
3) By Material: Stainless Steel, Cobalt-Chromium Alloys, Titanium Alloys, Polyethylene, Ceramics, Other Materials
4) By Fixation Type: Cemented, Cementless, Hybrid
5) By End User: Hospitals And Orthopedic Clinics, Ambulatory Surgical Centers, Other End Users
Technological advancements are a key trend gaining popularity in the knee implants market. Major companies operating in the knee implants market are focusing on developing new technologies to sustain their position in the market. For instance, in August 2021, Zimmer Biomet, a US-based medical technology company, and Canary Medical Inc., a US-based medical data company, launched the Persona IQ knee implant, the world’s first and only smart knee implant for total knee replacement surgery. Persona IQ’s unique feature is that it combines Zimmer Biomet’s proven and trusted knee implant, Persona The Personalized Knee, with Canary Medical’s proprietary implantable canturioTMte tibial extension sensor technology that measures and determines range of motion, step count, walking speed, and other gait metrics.
The knee implants market report table of contents includes:
1. Executive Summary
2. Knee Implants Market Characteristics
3. Knee Implants Market Trends And Strategies
4. Knee Implants Market – Macro Economic Scenario
5. Global Knee Implants Market Size and Growth
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26. South America Knee Implants Market
27. Brazil Knee Implants Market
28. Middle East Knee Implants Market
29. Africa Knee Implants Market
30. Knee Implants Market Competitive Landscape And Company Profiles
Top Major Players:
- Johnson & Johnson Services Inc
- Zimmer Biomet
- Stryker Corporation
- Smith+Nephew PLC
- Aesculap Inc
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