Knee Replacement Implants Market Size To Reach USD 15.85 Billion By 2028 | Top Key Players Stryker, DePuy Synthes, Smith & Nephew Plc

According to the recent analysis of Reports and Data, the knee replacement implant market has acquired a market value of USD 9.87 billion in 2020 and is expected to attain a value of USD 15.85 Billion dollars by the end of the forecast frame in 2028 growing at a CAGR of 5.3%. The knee replacement implant surgery is a surgical procedure which involves the replacement of the weight bearing part of the knee with an artificial substance known as an implant. These surgeries are commonly carried upon people with arthritis and other degenerative diseases. It is identified as one of the most effective mechanisms to relieve pain of patients. The use of 3D printing technology has been able to propel the market significantly within the forecasted period. The expenditure on health care in all the countries across the globe is another feature which was able to fuel the growth of the market. An era of highly functional implants has emerged owing technological advancements and aggressive research developments. Strategic mergers and acquisitions along with revolutionary product launches with aggressive marketing techniques are the primary strategies undertaken by the competitors.

The market is dominated by top brands who are able to sustain their market share by using innovative world class technology and aggressive promotional activities to spread medical awareness about their product.

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Market Dynamics:

Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.

Surging demands and transition to patient-centric care delivery across geographies will change pharma and healthcare market trends through 2028.

Competitive Outlook:

The report focuses on current and emerging trends in the healthcare industry such as incorporation of IoT and Machine Learning to enhance efficiency of medical products. Top companies in the market are focusing on R&D activities to expand their product offerings and cater to unmet medical needs.

This report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.

Further key finding from the report:

• The use 3D printing technology and robot assisted surgeries which are minimally invasive in nature have aided the growth of the market for these products.

• Asia pacific is the fast-growing region for knee replacement implants due to factors like increasing disposable income, large amounts of people coming in for medical tourism especially in India, China and Thailand

• Technology and patient focused implants are identified to be key growth factors. Companies are starting to provide custom made implants to their patients.

• Competitive edge over the companies in the market is gained by innovative product launches and strategic merger and acquisition projects.

• The US market is valued at about 3,300 million USD in 2020 due degenerative diseases like arthritis being common among elderly, especially women. Physical accidents have also acted as a contributing factor

• Partial knee replacement surgery is becoming more common and is growing at a CAGR of 3.8%. This can be attributed to the discretion to only replace the damaged tissue.

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Segments covered in the report:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2020 to 2028. For the purpose of this study, Reports and Data have segmented the Knee Replacement Implant market as follows:

Procedure Type (Revenue, USD Million; 2020–2028)

• Total Knee Replacement
• Partial Knee Replacement
• Revision Knee Replacement

Material (Revenue, USD Million; 2020–2028)

• Stainless Steel
• Cobalt Chromium Alloys
• Titanium Alloys
• Polyethylene
• Ceramics
• Others

Component (Revenue, USD Million; 2020–2028)

• Fixed Bearing Implants
• Mobile Bearing Implants

End Users (Revenue, USD Million; 2020–2028)

• Clinics
• Hospitals
• Ambulatory Service Centres

Regional Outlook (Revenue, USD Million; 2020–2028)

• North America
o U.S.
o Canada
o
• Europe
o Germany
o France
o UK
o Spain
o Italy
o Rest of the Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Middle East & Africa
• Latin America
o Brazil

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