About Knee Replacement Surgery
Knee replacement, also known as knee arthroplasty or total knee replacement, is a surgical process to resurface a knee damaged by arthritis. Metal and plastic parts are used to cap the ends of the bones which form the knee joint, accompanied by the kneecap. This surgery may be considered for someone who has a severe knee injury or severe arthritis. Furthermore, it is one of the most common bone surgeries in the world. Whether one need the surgery is a decision that the person and doctor, an orthopedic surgeon, carefully make together.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market for Knee Replacement Surgery is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Knee Replacement Surgery market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Stryker Corporation (United States), Zimmer Biomet (United States), B. Braun Melsungen AG (Germany), Smith & Nephew (United Kingdom), ConfirMIS, Inc (United States), Medacta (Switzerland), Depuy Synthes (United States), Exactech, Inc (United States), MicroPort Scientific Corporation (China) and Corin Group (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Waldemar LINK GmbH & Co. KG (Germany), DJO Global (United States) and C2F Implants (France).
Segmentation Overview
AMA Research has segmented the market of Global Knee Replacement Surgery market by Type (Total Knee Replacement, Partial Knee Replacement, Kneecap Replacement and Complex/Revision Knee Replacement), Application (Hospitals and Ambulatory Surgical Centers) and Region.
On the basis of geography, the market of Knee Replacement Surgery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Component, the sub-segment i.e. Femoral will boost the Knee Replacement Surgery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements in the Surgery Devices
Market Growth Drivers:
Rising Geriatric Population across the Globe and Rising Government Reimbursement Plans
Challenges:
The threat of Complications after Surgery
Restraints:
High Costs Related to Surgery
Opportunities:
Growing Healthcare Infrastructure in Developing Region
Market Leaders and their expansionary development strategies
In January 2021, Stryker acquires digital knee replacement developer OrthoSensor. a former Fierce 15 winner focused on applying digital technologies and big data to total joint replacements. Using a set of disposable, implantable sensors and a cloud-based data collection system, OrthoSensor aims to help surgeons quantify and standardize their knee arthroplasty procedures instead of having to rely on more subjective measures.
In July 2021, Johnson & Johnson’s orthopaedics company, DePuy Synthes, has launched its VELYS Robotic-Assisted Solution for knee replacement surgery in Australia.VELYS is intended to be used with the company’s ATTUNE Knee System for total knee arthroplasty.The latest development comes after the solution was included on the Australian Register of Therapeutic Goods (ARTG).
In order to be legally marketed in the United States, many medical devices must be reviewed by the Food and Drug Administration (FDA), the agency responsible for protecting the public health by overseeing medical products. FDA’s Center for Devices and Radiological Health (CDRH) is primarily responsible for medical device review.
Key Target Audience
Knee Replacement Surgery Providers, Suppliers of Surgery Equipments, Healthcare Industry, Governmental Bodies and Research Firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.