Total Knee Replacement Market to Grow at a Steady Rate through 2025
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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