Increasing number of osteoporosis cases in among rising geriatric population to drive global total knee replacement market
According to TechSci Research report, “Global Total Knee Replacement Market By Cause (Osteoarthritis, Rheumatoid arthritis, Post-traumatic arthritis), By Material (Metal-plastic, Ceramic-ceramic, Ceramic-plastic, Metal-metal), By Age (50-65, 65-80, 80+), By Implant Fixation (Cemented, Cement less, Hybrid), By End-User (Hospitals, Orthopedic Centers, Other End Users), By Region, Forecast & Opportunities, 2025”, the global market for total knee replacement (TKR) is expected to witness a steady growth during the forecast period on account of the increasing geriatric population, which is more prone to degenerative diseases like osteoporosis. Myriad benefits of total knee replacement include less loss of blood, less pain, short hospital stays, less muscle dissection, and many others, which are positively impacting the growth of the market across the globe. According to International Osteoporosis Foundation, there is an osteoporotic fracture every 3 seconds and the total fracture count is 8.9 million annually. The problem of rising osteoporosis and other knee-based fractures are solved with the assistance of advanced technologies used in the implant material. The governments too have initiated funding in the total knee replacement procedure keeping in mind the costliness of the procedure and knowing that it is the only restraining factor for the market.
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The global total knee replacement market is segmented based on cause, material, age, implant fixation, end-user, company and region. The cause segment is further divided into osteoarthritis, rheumatoid arthritis, post-traumatic arthritis, out of which osteoarthritis is expected to hold the maximum share in the market during the forecast period, due to the growing number of patients of osteoarthritis across the globe. People with less bone density are more likely to suffer from osteoarthritis too, which is further anticipated to fuel the market growth. On the basis of implant fixation, the market is divided into cemented, cement less and hybrid. In 2019, cemented implant fixation held lion’s share in the market because of its property to dry within 10 minutes of application providing the patients and surgeons the assurance about the firm placement of the knee.
In terms of regional analysis, North America accounted for the largest share in global total knee replacement market and the trend is expected to continue in the coming years as well. Moreover, the presence of various leading players and the rising osteoporosis, rheumatoid arthritis and other knee-based diseases in the region because of the changing and unhealthy lifestyle of the population is anticipated to drive the total knee replacement market in North America. Also, a major portion of the regional population who have already undergone the replacement, experience extremely reduced pain in knees.
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Some of the leading players in global total knee replacement market include Stryker, Zimmer Biomet, B. Braun, Smith & Nephew, Conformis, Medacta, DePuy Synthes, MicroPort, Corin Group, Waldemar Link, DJO Global, Allegra Orthopaedics, Kinamed, Teijin-Nakashima Medical, GE Healthcare, Globus Medical, Medtronic, Wright Medical Group, Siemens, etc. In order to expand their market share, the companies adopt various strategies like mergers and acquisition. For example, in October 2018, in order to increase the customer base, Zimmer Biomet Holdings merged with Apple to carry out the surgeon and patient connection whilst the knee or hip replacement processes. This resulted in the increase in the customer base of the former company.
“Global total knee replacement market is anticipated to witness substantial growth over the course of next five years owing to its utility in cases of osteoporosis. There always exists a requirement of personalized treatment of every patient and total knee replacement provides them a tailored solution. Moreover, increasing geriatric population coupled with unhealthy lifestyle are anticipated to positively impact the growth of market until 2025.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Total Knee Replacement Market By Cause (Osteoarthritis, Rheumatoid arthritis, Post-traumatic arthritis), By Material (Metal-plastic, Ceramic-ceramic, Ceramic-plastic, Metal-metal), By Age (50-65, 65-80, 80+), By Implant Fixation (Cemented, Cement less, Hybrid), By End-User (Hospitals, Orthopedic Centers, Other End Users), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of global total knee replacement market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global total knee replacement market.
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