Knee Implant Market Size to Record 5.6% CAGR Through 2028

Global Knee Implant Market Report added at Market Study Report offers industry size, share, growth, trends and forecast analysis up to 2028. Knee Implant Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Knee Implant market and provides information regarding the revenue for the period 2022 to 2028.

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The global Knee Implant market size is expected to witness a robust strong rate of around 5.6% during the projected period.

Competitive Landscape

The global knee implant is fragmented in nature with various players operating in the market. Some of the prominent players that contribute significantly to the global knee implant market include Medtronic plc, Zimmer Biomet, DePuy Synthes, MicroPort Scientific Corporation, Stryker Corporation, Exatech Inc., Medacta, Aesculap Implants Systems LLC, Smith & Nephew Plc, Johnson & Johnson, and B Braun Melsungen AG, among others.

Knee implants are used to replace the weight-bearing surfaces of the knee joint in order to reduce the suffering brought on by rheumatoid arthritis or damage. Knee replacement surgeries include first-time, or primary, joint replacement procedures and revision procedures for the replacement, repair, or enhancement of an implant or component from a previous procedure. The operation is done to stop ligament tears and excruciating arthritis pain.

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The market growth is attributed to the increasing adoption of minimally invasive surgeries. Minimally invasive knee replacement is performed through a shorter incisionotypically 4 to 6 inches versus 8 to 10 inches for traditional knee replacement. A smaller incision allows for less tissue disturbance. In addition to a shorter incision, the technique used to open the knee is less invasive. Owing to such benefits offered, minimally invasive surgeries are increasingly being adopted across the globe and hence drive market growth.

More hospitals are adopting robotic-assisted surgeries for joint replacements. Mako Robotic Arm-Assisted Surgery System is one of the robotic surgeries adopted by hospitals that enables surgeons to deliver more predictable surgical outcomes with increased accuracy. In June 2021, Miami Orthopedics & Sports Medicine Institute became the first institution in Miami-Dade County to invest in the Mako Robotic-Arm Assisted Technology, manufactured by Stryker. Mako has helped surgeons perform partial and knee replacements more accurately.

Market Segmentation

The global knee implant market is segmented based on type, procedure type, material, end-use, and region. Based on type, the market is bifurcated into Conventional knee Implants and Smart knee implants. Among these, smart knee implants segment is projected to exhibit considerable growth rate during the forecast period. On the basis of procedure type, the market is segmented into Total knee replacement, Partial knee replacement, and Revision knee replacement. Total Knee Replacement (TKR) segment held the largest share owing to the increasing need for implants.

Based on material, the market is segmented into stainless steel, titanium alloys, polyethylene, cobalt-chromium alloys, and others including bone cement among others. On the basis of end-use, the market is divided into hospitals and ambulatory service center. Hospital segment is estimated to hold a prominent share in the market. Based on region, the market is divided into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, and Middle East & Africa. North America dominates the market while Asia Pacific is projected to exhibit significant growth rate during the forecast period.

These players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, product launches, partnerships, and collaborations are some of the strategies followed by industry players.

Some of the key developments in the global knee implant include:

In November 2021, Stryker expanded its Mako SmartRobotics footprint to reach more veterans and military suffering from joint pain.

In January 2021, Stryker has acquired OrthoSensor, a company focused on applying digital technologies and big data to total joint replacements.

FAQ:

Q1. What is the CAGR that the Knee Implant Market is expected to register through the projected duration?

Answer: The Knee Implant Market is likely to register a CAGR of 5.6% over the forecast period.

Q2. Which Are the Key Players in Global Knee Implant Market?

Answer: Medtronic plc, Zimmer Biomet, DePuy Synthes, MicroPort Scientific Corporation, Stryker Corporation, Exatech Inc., Medacta, Aesculap Implants Systems LLC, Smith & Nephew Plc, Johnson & Johnson, among others are the leading players in worldwide Knee Implant Market.

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