Knee Replacement Market to Reach USD 12.72 Billion by 2026, Advances in Material Used in Surgical Procedures to Aid Growth, says Fortune Business Insights

Pune, Nov. 25, 2019 (GLOBE NEWSWIRE) — The global Knee Replacement Market will derive growth from recent advancements in the material associated with the surgical procedures. According to a report published by Fortune Business Insights, titled “Knee Replacement Market Size, Share & Industry Analysis, By Procedure (Total Knee Arthroplasty, Partial Knee Arthroplasty, and Revision Arthroplasty) By Implant Type (Fixed Bearing, Mobile Bearing, and Others) End-user (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centres, and Others) and Regional Forecast, 2019-2026,” the market size was USD 9.06 Bn in 2018 and is projected to reach USD 12.72 billion by 2026, exhibiting a CAGR of 4.3% during the forecast period.

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https://www.fortunebusinessinsights.com/industry-reports/knee-replacement-implants-market-101244

Recent material innovations in the equipment associated with knee replacement surgeries have opened up a huge potential for the growth of the market in the coming years. The growing adoption of robotic-assisted knee surgeries will lead to an increase adoption across the world. The high prevalence of knee osteoarthritis will create several opportunities for growth for the companies operating in the market. According to the Osteoarthritis Research Society International (OARSI), the prevalence of osteoarthritis will reach 5% in the coming years. Furthermore, the increasing aging population, coupled with increasing incidence of obesity will contribute to the growth of the market in the coming years.

The report provides an in-depth analysis of the global market. It highlights key aspects of the market and focuses on factors such as leading product types and major companies. It summarizes the competitive landscape in detail and predicts companies that are likely to emerge leading in the coming years. The report provides forecast values for the market for the period of 2019-2026. These values have been evaluated on the basis of extensive research analysis methods. Additionally, the report encompasses several factors that have constituted an increase in the Knee Replacement Market size in recent years.

Increasing Number of Usage Clearances to Aid Market Growth

The report provides a detailed analysis of several factors that have made a positive impact on the market in recent years. The high demand for knee replacement procedures has encouraged regulatory authorities to approve newer products. The increasing number of regulatory clearances will aid the growth of the market in the coming years. In October 2019, Think Surgical announced that it received approval from the Food and Drug Administration for its latest knee replacement solution. The company announced the approval for TSolution One System, a knee replacement procedure. The report highlights major FDA approvals of recent years and gauges the impact of these clearances on the global market.

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North America to Emerge Dominant in the Global Market

The report segments the market on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Among these regions, North America will exhibit the highest growth rate in the coming years. Increasing penetration of computer-aided implant designs will create several growth opportunities for the companies operating in the market. The improving health reimbursement scenario will lead to an increased adoption for knee replacement surgeries across the world. Besides North America, the market in Europe will exhibit considerable CAGR in the coming years, driven by advances in material designs and innovations in surgical procedures.

List of the leading companies that are operating in the global Knee Replacement Market are:

• Zimmer Biomet
• Stryker
• DePuy Synthes Companies (Johnson & Johnson Services, Inc.)
• Smith & Nephew
• Aesculap, Inc.– a B. Braun company
• Medacta International
• MicroPort Scientific Corporation
• Conformis
• Other Prominent Players.

Industry Developments:

October 2019: Think Surgical Inc. announced that it received clearance from the U.S. Food and Drug Administration for the marketing of TSolution One system for total knee replacement in the United States.

September 2019: DePuy Synthes, made the ATTUNE Cementless Knee available in a rotating platform option in select markets.

September 2017: Zimmer Biomet launched a new knee implant system, Persona Partial Knee System. The company will benefit from the latest addition to its already established portfolio of personalized and anatomically designed knee implant systems.