Press release
Knee Replacement Market Outlook to 2023 – By Key Players AESCULAP IMPLANTS SYSTEMS, CORIN GROUP, DEPUY SYNTHES, SMITH & NEPHEW, STRYKER CORPORATION, ZIMMER HOLDINGS
Global Knee Replacement Market HighlightsThe global knee replacement market is expected to register a good CAGR during the forecast period, 2018 to 2023. Knee replacement or knee arthroplasty is a surgical procedure that is performed to replace the damaged knee with artificial knee implants. It is the most common joint replacement surgery that is undertaken by the patients having knee damage disease, like osteoarthritis, post-traumatic arthritis or rheumatoid arthritis. Knee replacement is one of the effective and widely used ways to relieve pain in the arthritis pain. Introduction of the advanced technologies and products is responsible for the growth of the knee replacement market in the forecast period.
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Increasing Prevalence of Osteoarthritis
According to the American Joint Replacement Registry, around 87% of diagnosed osteoarthritis cases undergo knee arthroplasty. With the increase in the prevalence of osteoarthritis, the number of knee surgeries and adaption of sedentary lifestyle leading to obese population are expected to grow in the future and will ultimately lead to the growth of the market. The other factors, such as rise in number of knee injuries cases are driving the knee replacement market.
Key Developments in the Market:
February 2018 u2013 Stryker has completed the acquisition of Entellus Medical
Major Players:
AESCULAP IMPLANTS SYSTEMS,LLC., CORIN GROUP, DEPUY SYNTHES, SMITH & NEPHEW, STRYKER CORPORATION, ZIMMER HOLDINGS INC., among others.
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Reimbursement Issues
Many unwanted knee arthroplasty surgeries are performed in the United States, annually. To cut down the unnecessary knee surgeries, changes were made in the reimbursement policies. With such changes, surgeons are looking forward to alternatives and this may hamper the growth of the knee replacement market. The other factor, such as cost of the procedure is also hindering the growth of the market.
US Lead the Market in North America Region
The US knee replacement market holds the largest market share in 2017 in North America region due to the presence of high quality healthcare system. In the APAC sector, China and South Korea have been identified as potential emerging markets.
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