Knee Replacement Devices Market | Analysis | Global Industry Report 2019-2025

Global Knee replacement Market to Grow X% by 202X, Driven by Government Push for Knee Implant Industry

“An expert analysis report explores the market by Research Methodology, Segmentation, Key Players, Major Region in-depth.”
Precision Business insights
Knee replacement is one of the most effective and widely used ways to relieve the knee arthritis pain. Knee Replacement consists of tools or system which is used for the diagnosis and treatment of knee fracture and other knee diseases. Growing elderly patients and increase in number of surgeries undertaken is anticipated to grow the global knee replacement market. Various steps are included in implanting artificial device and replacing damaged knee. There is various type of implants made up of ceramic material, strong plastic parts or metal alloys etc.

Market Dynamics: Technological advancements in implant materials used for knee replacement surgery will result in increasing demand for the same. Companies such as ConforMIS provides customized 3D printed implants to exactly match the patient’s anatomy. Materials such as kneecap, inserts and jigs are also customized to lessen surgery time and deliver better outcomes. Technological shift from traditional invasive surgery towards minimal invasive surgeries will favour market growth over the projection years.
Factors that are likely to hamper the growth of the market are the high cost and growing awareness for some non-surgical treatment methods such as exercises and shoe aids.

Request Sample Report:
https://precisionbusinessinsights.com/request-sample?product_id=16073

Drivers & Restraints: Knee Replacement Market
The knee implants market is expected to grow due to several factors such as increasing rate of old-age diseases like osteoporosis, diabetes, obesity, arthritis; ageing population and sports-related injuries. Conversely due to existing and upcoming advance technologies such as minimal invasive surgery and better implant materials are making it more widely accepted even by the younger populace.
Despite of being widely used procedure for curing extremely debilitating diseases, such as osteoarthritis, the global knee replacement market is facing some challenges such as economic slowdown that is preventing the market from growing. Some of the other growth restraining factors of the global knee replacement market can be high surgery cost, increasing competition, increasing number of OEM’s in the market and growing awareness for some non-surgical treatment methods such as exercises, weight loss, walking aids, shoe inserts and pain killer medicines.

Precision Business Insights (PBI) in its report titled “”: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 20XX-20XX and Forecast 20XX-20XX” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast.
Competitive Market Share
New product launches, advertisement of products to surgeons as well as patients, merger and acquisition are strategies used by industry players. Presently, FDA approved patient specific guides are designed by manufacturers to assist surgeon in total knee replacement to increase use of patient specific implants in total knee replacement surgery and match maximally to patient’s knee delivering better results fuelling the market growth.
Some of the prominent industry players operating in total knee Replacement market include Stryker, Smith & Nephew, Medacta, MicroPort Scientific, B. Barun, ConforMIS, DePuy Synthes, Corin, DJO Global and Zimmer Biomet.

Total Knee Replacement Market, By Product:Primary knee replacement market is anticipated to be the fastest growing segment with a CAGR of 4.3% by 2024, owing to its long-lasting results, availability of advanced technologies and complete relieve from arthritic pain. A majority of primary knee replacement surgeries is performed on women due to high prevalence of diseases such as osteoarthritis and obesity. With objective to address the need, companies are designing products to particularly meet needs of female stratum.

Total Knee Replacement Market, By Component: Femoral knee replacement market size was USD 3.8 billion in 2017 accounting for maximum market share. Advantage offered by femoral knee replacement that assists in knee cap movement providing maximum stability with reduction of flexion gap caused by abscission of knee component to restore normal functioning of knee will augment demand for total knee replacement surgical procedures.

Total Knee Replacement Market, By Distribution Channel: Hospital market segment dominated market with revenue of around USD 6.8 billion in 2017, since majority of knee replacement surgeries are conducted in hospitals due to availability of advanced technologies and trained professionals in these healthcare settings. Additional provision and intensive care provided post the surgical procedures in hospital will fuel business growth.

Total Knee Replacement Market, By Region:U.S. total Knee Replacement market size was around USD 3.2 billion in 2017 and is expected to increase beyond USD 4 billion by 2024. The presence of major market players and increasing prevalence of people suffering from degenerative diseases will fuel market growth. In 2015, around 55 million adults in U.S. suffered from Arthritis as per the center for disease control and prevention data. In addition to this, favourable government initiatives making the surgeries cost-effective will foster market growth over the forecast period.

For More Information:
https://precisionbusinessinsights.com/market-reports/global-knee-replacement-market/

About Precision Business insights
Precision Business Insights is one of the leading market research and management consulting firm, run by a group of seasoned and highly dynamic market research professionals with a strong zeal to offer high-quality insights. Our company motto is to address client requirements in the best possible way and want to be a part of our client success. Relentless quest and continuous endeavor enable us to make new strides in market research and business consulting arena.

Kemp House,
152 – 160 City Road,
London EC1V 2NX
Email: sales@precisionbusinessinsights.com
Toll Free (US): +1-866-598-1553
Website @ https://www.precisionbusinessinsights.com

This release was published on openPR.