Hip and Knee Implant Market Growth Analysis 2019-2023: Key Major Players are Johnson and Johnson, Stryker Corporation, Zimmer Biomet, Smith and Nephew, Integra Lifescieces and Microport

The global knee implant market is estimated to reach US$9 billion in 2023, at a CAGR of 3% in the duration spanning 2019-2023. While, the global hip implant market is projected to reach US$6.66 billion in 2023, at a CAGR of 2.05%, during 2019-2023.

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The factors such as rising disposable income, upsurge in ageing population, growing healthcare expenditure and longer life expectancy are expected to drive the growth of the global hip and knee implant market. However, growth of the industry will be challenged by regulatory risk, insufficient medical reimbursement & coverage and scarcity of expertise and trained healthcare workers.

A few notable trends include improving surgical robotic systems techniques, decline in global ASPs of hip and knee implants, increasing adoption of Knee and hip implants and rising application of computer-assisted total hip replacement surgery.

Key Target Audience:
• Hip and Knee Implant Device Manufacturers
• Raw Material Suppliers
• End Users (Hospital, Medical centers, Clinical Institutes)
• Healthcare Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities

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The global knee and hip implant market comprises of three major segments: Primary Implant, Partial or unicompartmental implant and revision implant. The rise in prevalence of osteoarthritis and rheumatoid arthritis is contributing to the increase in the number of primary implant procedures among geriatric population. However, the failure of primary implant gives rise to the need for revision implant. Partial or unicompartmental implant is done to fix partial fracture in a knee or hip, caused by sports or accidental injuries.

The fastest growing regional market for knee and hip implant is the U.S. due to the vast availability of advanced technology, that has eased the task of replacement surgeries by providing minimally invasive and computer assisted robotic techniques. Emergence of various biotech companies is giving rise to the launches of new surgical devices, promoting the growth of the knee and hip implant market. The U.S. holds a significant position in the global knee and hip implant market.

Scope of the “Hip and Knee Implant Market” report:

The report provides a comprehensive analysis of the global knee and market, Primary, Partial or unicompartmental and revision implants

The major regional market (the U.S) has been analyzed.

The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.

The competitive landscape of the market, along with the company profiles of leading players (Johnson and Johnson, Stryker Corporation, Zimmer Biomet, Smith and Nephew, Integra Lifescieces and Microport) are also presented in detail.

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This release was published on openPR.