Knee Replacement Market - Growth Opportunities Created by Covid19 Outbreak. Prominent Players : Zimmer Biomet , Stryker , DePuy Synthes Companies (Johnson & Johnson Services, Inc.) , Smith & Nephew , Aesculap, Inc.– a B. Braun company , Medacta Internat
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.
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The report covers :
o Global knee replacement market trends, with detailed analysis on consumer trends & manufacturer trends.
o Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
o Key areas of investments identifying market opportunities and challenges in forecast time frame.
o Competitive analysis of the industry players along with the overview on strategic management.
o Comprehensive company profiles of the major industry players.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Click here to get the short-term and long-term impact of COVID-19 on this [Market].
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Leading Players operating in the Knee Replacement Market are :
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
• Zimmer Biomet
• DePuy Synthes Companies (Johnson & Johnson Services, Inc.)
• Smith & Nephew
• Aesculap, Inc.– a B. Braun company
• Medacta International
• MicroPort Scientific Corporation
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 Solution 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.
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.
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