Tag: knee implants market report

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At What Rate is the Knee Implants Market Predicted to Expand Between 2024 and 2033?

The market for knee implants has seen a potent surge in recent years. Its expansion will continue from $11.39 billion in 2023 to $11.96 billion in 2024, projecting a compound annual growth rate (CAGR) of 5.0%. The remarkable growth in the past can be ascribed to factors such as the increasing population of the elderly, the prevalence of osteoarthritis, enhancement in implant materials, growing inclination towards minimally invasive surgeries, and widespread patient awareness and education programs.

The market size of knee implants is projected to exhibit significant growth in the upcoming years, reaching $14.79 billion in 2028 with a compound annual growth rate (CAGR) of 5.4%. The expansion during the forecast period can be linked to the surge in personalized and custom-tailored implants, an increase in sports-related injuries, a rise in worldwide health spending, progression in robotic-assisted surgery, escalating obesity rates, and a shift towards outpatient and ambulatory surgical centers. Key trends to look out for during the expected period include patient-specific implants, minimally invasive surgery (mis), intelligent implants integrated with IoT, biocompatible materials, and surface technology, as well as outpatient knee replacement procedures.

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What Forces Are Boosting the knee implants Market’s Growth?

The anticipated growth of the knee implants market is likely to be driven by the rising incidence of orthopedic ailments. Orthopedic conditions, pertaining to the musculoskeletal system, including bones, joints, muscles, tendons, and ligaments, can impair mobility and cause discomfort. The replacement of damaged knee joint surface with knee implants provides respite, thereby potentially encouraging the growth of the knee implant market. A 2023 report from the Centers for Disease Control and Prevention, a US-based national public health institute, predicted that 25.9% of the total adult population, translating to 78.4 million people aged 18 and above, are expected to suffer from arthritis by 2040. An additional 34.6 million individuals (equating to 43.2% of arthritis patients or 11.4% of all US adults) are likely to face mobility restrictions associated with arthritis by 2040. The increasing occurrence of orthopedic conditions, therefore, is fueling the expansion of the knee implants market.

What Key Segments Make Up the Knee Implants Market?

1) By Product: Total Knee Replacement, Partial Knee Replacement, Revision Knee Replacement

2) By Component Type: Fixed-Bearing Implants, Mobile-Bearing Implants

3) By Material: Stainless Steel, Cobalt-Chromium Alloys, Titanium Alloys, Polyethylene, Ceramics, Other Materials

4) By Fixation Type: Cemented, Cementless, Hybrid

5) By End User: Hospitals And Orthopedic Clinics, Ambulatory Surgical Centers, Other End Users

What Are the Latest Trends Impacting the Knee Implants Market?

The rise of technological advancements is becoming a significant trend in the knee implants market. Mainstream companies in the market are innovating with new technologies to maintain their market standing. For instance, Zimmer Biomet, a leading US-based medical technology firm, and Canary Medical Inc., a renowned US-based medical data establishment, in August 2021, introduced the Persona IQ knee implant, the world’s sole smart knee implant intended for total knee replacement operations. The unique attribute of Persona IQ is its combination of the well-established and trusted knee implant, Persona The Personalized Knee, from Zimmer Biomet with Canary Medical’s exclusive canturioTMte tibial extension sensor technology. This invention allows for the measurement and determination of range of motion, step count, walking pace, and other gait metrics.

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What Regions Are Dominating the Knee Implants Market Growth?

North America was the largest region in the knee implant market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global knee implants market report during the forecast period. The regions covered in the knee implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Knee Implants Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the knee implants market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Knee Implants Market Include

1. Knee Implants Market Executive Summary

2. Knee Implants Market Segments

3. Knee Implants Market Size And Template Market Growth Rate

4. Key Knee Implants Market Trends

5. Major Knee Implants Market Drivers

……

25. Key Mergers And Acquisitions In The Knee Implants Market

26. Top Knee Implants Companies

27. Knee Implants Market Opportunities And Strategies

28. Knee Implants Market, Conclusions And Recommendations

29. Appendix

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Rising Prevalence Of Orthopedic Disorders Propels Growth In The Knee Implants Market

• Orthopedic Disorders: Catalysts for Market Expansion
• The Impact of Arthritis: A Statistical Insight
• Major Players in the Knee Implants Market

The increasing prevalence of orthopedic disorders is expected to boost the growth of the knee implants market going forward. Orthopedic disorder refers to illness or injury to the musculoskeletal system, which includes the bones, joints, muscles, tendons, and ligaments. People with orthopedic conditions can decrease pain and incapacity by replacing the damaged knee joint surfaces with knee implants; hence, the increasing prevalence of orthopedic disorders is expected to boost the knee implant market. For instance, according to a report published by the Centers for Disease Control and Prevention, a US-based national public health institute, in 2023, 25.9% of the projected total adult population, or 78.4 million individuals aged 18 and older, are anticipated to have arthritis by 2040. A further 34.6 million individuals (43.2% of arthritis-affected adults or 11.4% of all US adults) are predicted to experience activity limits related to arthritis by the year 2040. Therefore, the increasing prevalence of orthopedic disorders is driving the growth of the knee implants market.

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Pioneering Smart Knee Implant In The Knee Implants Market

• Technological Advancements: Driving Market Trends
• Zimmer Biomet’s Persona IQ: A Breakthrough in Knee Implant Technology
• Smith+Nephew’s Acquisition of Engage Surgical: Strengthening Market Presence

Technological advancements are a key trend gaining popularity in the knee implants market. Major companies operating in the knee implants market are focusing on developing new technologies to sustain their position in the market. For instance, in August 2021, Zimmer Biomet, a US-based medical technology company, and Canary Medical Inc., a US-based medical data company, launched the Persona IQ knee implant, the world’s first and only smart knee implant for total knee replacement surgery. Persona IQ’s unique feature is that it combines Zimmer Biomet’s proven and trusted knee implant, Persona The Personalized Knee, with Canary Medical’s proprietary implantable canturio te tibial extension sensor technology that measures and determines range of motion, step count, walking speed, and other gait metrics.

In January 2022, Smith+Nephew, a UK-based medical technology company, acquired Engage Surgical for $135 million. Through the acquisition, Smith+Nephew is expected to expand its robotics and real-time intelligence capabilities, which help partial knee operations by providing accurate alignment. The acquisition is anticipated to help Smith+Nephew expands its market share in the US and other markets. Engage Surgical is a US-based knee implant maker, and the company has designed the only available cementless partial knee system in the US.

Segmentation of the Knee Implants Market

• Product Segmentation: Total, Partial, Revision Knee Replacements
• Component Types: Fixed-Bearing vs. Mobile-Bearing Implants
• Materials: Stainless Steel, Cobalt-Chromium Alloys, Titanium Alloys, Polyethylene, Ceramics, Others
• Fixation Types: Cemented, Cementless, Hybrid
• End Users: Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers

The knee implants market covered in this report is segmented –

1. By Product: Total Knee Replacement, Partial Knee Replacement, Revision Knee Replacement
2. By Component Type: Fixed-Bearing Implants, Mobile-Bearing Implants
3. By Material: Stainless Steel, Cobalt-Chromium Alloys, Titanium Alloys, Polyethylene, Ceramics, Other Materials
4. By Fixation Type: Cemented, Cementless, Hybrid
5. By End User: Hospitals And Orthopedic Clinics, Ambulatory Surgical Centers, Other End Users

Regional Insights and Future Outlook

• North America: Leading Region in 2023
• Asia-Pacific: Fastest-Growing Region in the Forecast Period
• Predictions for the Knee Implants Market: 2024 and Beyond

The knee implants market size has experienced substantial growth in recent years and is expected to continue expanding. With technological innovations, demographic shifts, and increasing healthcare expenditures, the knee implants market is poised for further development, catering to the needs of patients worldwide. As we move into the future, the integration of smart technologies, personalized implants, and advancements in surgical techniques will shape the landscape of knee replacement surgeries, offering enhanced outcomes and improved patient experiences.

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