MediPoint: Total Knee Replacement Market Reaching sales of $8.10B by 2023 Global Analysis and Market Forecasts

GlobalData estimates sales of total knee replacement implants to be approximately $6.53B across all 39 countries in 2016. This market will grow at a CAGR of 3.1% over the forecast period, reaching sales of $8.10B by 2023. Knee reconstruction is a fully mature market that has experienced no major innovation over the last decade other than incremental improvements. As health executives are scrutinizing purchases and using multiple channels to procure orthopedic devices at highly competitive prices, profit margins have been negatively affected; thus, revenue growth is dwindling in the global large joint reconstruction space.

As the economy grows, the volume of knee replacement procedures is expected to increase further, primarily due to the demographics of an aging population, a trend towards early surgical intervention in younger patients, and further improvements in insurance coverage in emerging countries. In the years to come, launching and marketing a comprehensive large joint portfolio with a clear value proposition will remain critical to companies success as they jockey for market position. Meanwhile, a long-term foothold within the global knee market hinges on how well companies can align themselves with the primary market force buffeting healthcare today: the need to deliver top-notch, cost-effective care. Given the heightened competitive pressures and shrinking reimbursement, the average selling price for TKR implants is expected to decline in all of the geographies covered in this report. However, GlobalData believes that revenue from increased procedure volume will make up for this loss.

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Scope

- Outlook of sales volume, pricing trends, revenue trends with 2016 as base year and forecasts until 2023, for total knee replacement implants.
- Company share analysis in 2016, for total knee replacement implants.
- Market insights and competitive assessment of the key players within the total knee replacement market.

Reasons to buy

- Identify the unmet needs with the current generation of knee replacement implants and understand how emerging technologies will meet these unmet needs.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the knee replacement market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing the performance of various competitors

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