About Artificial Knee Joint
The global artificial knee joint market is expected to witness high growth in the forecasted period due to an increase in the number of knee-related disorders, obesity, accident cases, the rise in the demand for knee implants, availability of advanced designs. Growing geriatric population and rising number of knee implant surgeries driving the demand for artificial knee joint. Further, technological advancement in the artificial knee joint process will boost the market over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 3.9% |
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Artificial Knee Joint 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.
B. Braun Holding GmbH & Co. KG (Germany), Smith and Nephew (United Kingdom), Zimmer Biomet Holding Inc. (United States), Stryker (United States), Exactech, Inc. (United States), Johnson & Johnson (United States), DJO Surgical (United States), Medtronic (Ireland), BD (United States), Arthrex (United States) and ConforMis (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are MicroPort Scientific Corporation (China), OMNI life science (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Artificial Knee Joint market by , Application (Hospitals, Specialized Orthopedic Clinics and Ambulatory Surgical Centers) and Region.
On the basis of application, Hospitals segment is dominating the market and held 50.0% of market share in the year 2023On the basis of geography, the market of Artificial Knee Joint 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). North America region held largest market share in the year 2023. If we see Market by Material, the sub-segment i.e. Stainless Steel will boost the Artificial Knee Joint market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancement in the Knee Implant Techniques and Emergence of Mako Robotic-Arm Assisted Technology for Joint Replacement
Market Growth Drivers:
Growth in Geriatric Population, Increasing Prevalence of Orthopedic Disorders and High Demand due to Advancement in the Orthopedics Implants
Challenges:
Lack of Awareness in the Emerging Economies
Restraints:
Stringent Government Regulations Regarding the Medical Devices and High Cost of the Knee Replacement Surgeries
Opportunities:
Growing Healthcare Infrastructure in the Developing Economies and High Growth in Emerging Market
Market Leaders and their expansionary development strategies
In January 2022, Smith+Nephew, the global medical technology business, announced the acquisition of Engage Surgical, owner of the only cementless unicompartmental (partial) knee system commercially available in the US.
In Feb 2020, RSIP Vision introduced a computer vision technology to better visualize bones ahead of knee and hip replacement procedures to minimize human error. and In Jan 2019, Lidakang Technology, a Chinese artificial joints provider, raised USD 16 Million in a Series A funding from state-backed venture capital firm, Shenzhen Capital Group.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Artificial Knee Joint Provider, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
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.