What's driving the Total Knee Replacement Market Growth? Prominent Players: Stryker, Smith & Nephew, Medacta, MicroPort Scientific, B. Barun, ConforMIS, DePuy Synthes

The Total Knee Replacement Market is set to exceed USD 10 billion by 2024; according to a new research report by Global Market Insights. Total knee replacement market will witness a CAGR of 3.7% during the forecast period owing to expanding ageing population pool worldwide coupled with increasing prevalence of degenerative diseases. Geriatric population is more prone to suffer from degenerative diseases such as osteoporosis resulting in demand for total knee replacement procedures. As per International Osteoporosis Foundation estimates, 200 million women worldwide suffer from osteoporosis; therefore, the demand should only increase during the projection years.

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Additionally, technological upgradation of implant material with evolution of customized replacement implants is augmenting market growth. The increased benefits of knee replacement surgery in restoration of normal functioning of knee has led to growth of younger population undergoing knee replacement surgeries. Presently, 3D printed surgical implants along with customized inserts, jigs devices are used in surgery to deliver better results escalating the industry growth. With increasing use of 3D technology, the knee replacement market will witness rapid growth over the forecast timeframe.

Although presence of numerous growth opportunities has influenced the industry growth positively, high costs associated with the surgical procedures has affected the same. However, steady development in reimbursement scenario and government initiatives have lowered the costs of knee replacement surgery proving beneficial for industry growth. Partial knee replacement system market accounted for largest market share in 2016 and anticipated to grow at 3.4% CAGR over the projection years, owing to its advantages such as replacement of only damaged component of knee along with minimal erosion of healthy tissues.

Tibial knee component market segment will be the fastest growing segment with expected growth of 4.0% CAGR by 2024. This component provides intraoperative flexibility to the replaced component proving to be beneficial in revision replacement surgery. Also, polyethylene tibial component is known to provide significant long lasting clinical results with reduced probability of osteolysis; therefore, the demand for the same should rapidly rise in coming years.

Ambulatory surgical centers market segment is expected to experience a CAGR of over 5% during the forecast period owing to overall low costs associated with surgery in this facility. Timely procedures without long delay in ambulatory centers attract more patients, resulting in rapid expansion of the same. Moreover, personalized care offering by ambulatory healthcare facilities surges the segment growth.

U.S. knee replacement market valued at USD 3,294 in 2017 and will expand significantly with growth of than 3.8% from 2018-2024. The growing geriatric population base suffering from degenerative diseases such as osteoarthritis and availability of superior quality medical devices and components will favor market growth. Also, increase in the disposable income across the nation will positively affect market growth.

Germany knee replacement market will grow at a CAGR of 4.0% during the projection period, owing to increasing healthcare spending, technological advancement and high disposable income. Growing healthcare awareness will increase number of knee replacement surgeries favoring market growth.

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Some of the major industry players operating in knee replacement market include Stryker, Smith & Nephew, Medacta, MicroPort Scientific, B. Barun, ConforMIS, DePuy Synthes, Corin, DJO Global and Zimmer Biomet. These manufacturing companies have focused their efforts on R&D that have helped them to evolve as major industry players.

Chapter 1. Methodology

1.1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary
1.4.1.1. Paid sources
1.4.1.2. Unpaid sources
1.4.2. Primary

Chapter 2. Executive Summary

2.1. Total knee replacement industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Component trends
2.1.4. Distribution channel trends
2.1.5. Regional trends

Chapter 3. Total knee replacement Industry Insights

3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry impact forces

3.3.1. Growth drivers
3.3.1.1. Rising geriatric population in Europe
3.3.1.2. Rising prevalence of arthritis and osteoporosis in North America & Asia Pacific
3.3.1.3. Technological advancements in the implant material

3.4. Growth potential analysis

3.4.1. By product
3.4.2. By component
3.4.3. By distribution channel

3.5. Regulatory landscape

3.5.1. U.S.
3.5.2. Europe

3.6. Reimbursement scenario

3.6.1. U.S.
3.6.2. Europe
3.7. Epidemiology analysis
3.8. Porter’s analysis

3.9. Competitive landscape, 2017
3.9.1. Strategy dashboard
3.10. PESTEL analysis

Chapter 4. Total Knee Replacement Market, By Product

4.1. Key segment trends
4.2. Primary knee systems
4.2.1. Market size, by region, 2013-2024 (USD Million)

4.3. Revision knee systems
4.3.1. Market size, by region, 2013-2024 (USD Million)

4.4. Partial knee systems
4.4.1. Market size, by region, 2013-2024 (USD Million)

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Data Tables

TABLE 1. Total knee replacement industry 360° synopsis
TABLE 2. Global total knee replacement market, 2013 – 2017 (USD Million)
TABLE 3. Global total knee replacement market, 2018 – 2024 (USD Million)
TABLE 4. Global total knee replacement market, by product, 2013 - 2017 (USD Million)
TABLE 5. Global total knee replacement market, by product, 2018 - 2024 (USD Million)
TABLE 6. Global total knee replacement market, by component, 2013 - 2017 (USD Million)
TABLE 7. Global total knee replacement market, by component, 2018 - 2024 (USD Million)
TABLE 8. Global total knee replacement market, by component, 2018 - 2024 (USD Million)
TABLE 9. Global total knee replacement market, by distribution channel, 2013-2027 (USD Million)
TABLE 10. Global total knee replacement market, by region, 2013 – 2017 (USD Million)

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