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Knee Replacement Market Report
Global Knee Replacement Market report is segmented By Procedure (Total Knee Replacement, Partial Knee Replacement, Kneecap Replacement, Revision Knee Replacement), Implant Type (Fixed-bearing Implants, Mobile-bearing Implants, Others), Application ...
Impact of COVID-19 on Knee Replacement Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global Knee Replacement Market is expected to grow from USD 9.6 billion in 2020 to USD 12.2 billion by 2026 at a CAGR of over 4.1% during the forecast period.
Figure: Global Knee Replacement Market Size, 2020-2026 (USD Billion)
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Knee replacement also known as knee arthroplasty is a surgical procedure in which a damaged knee is resurfaced by arthritis. This surgery is performed on the person having severe arthritis or severe knee injury. The knee joint can be affected by various arthritis such as rheumatoid arthritis, osteoarthritis, or traumatic arthritis.
Key players operating in the global Knee Replacement Market are
Growing demand for minimally invasive surgical procedures is likely to bolster the market growth at a significant rate during the review period.
The growth of the global knee replacement market is primarily driven by the increasing prevalence of diseases such as arthritis and other knee problems coupled with the rising geriatric populace across geographies. Growing emphasis on providing technologically advanced products using new materials is likely to create lucrative opportunities for the players operating in the global knee replacement market.
Based on procedure, the market has been segmented into total knee replacement, partial knee replacement, kneecap replacement and revision knee replacement.
The total knee replacement segment accounted for the largest market share in 2020. The segment growth can be attributed to the increasing geriatric population and increasing awareness regarding minimally invasive surgical procedures.
Geographically, the market in North America accounted for the largest market share in 2020 and is expected to continue its dominance over the forecast period owing to the rising geriatric populace and high demand for novel technologically advanced solutions.
The market in the Asia-Pacific region is projected to register the fastest growth during the review period on account of thriving medical tourism and increased investment in healthcare infrastructure development.
The covid-19 outbreak affected the growth of the knee replacement market negatively. Due to a surge in covid-19 cases across geographies only essential services were allowed. People moved out of their houses only for essential services due to fear of coronavirus infection. Knee replacement surgeries were postponed or cancelled due to the spread of coronavirus and thus, affected the market growth negatively for a short period of time.
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The following is a list of the customers that the Global Knee Replacement market aims to convert the most:
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The knee replacement market is expected to witness an impressive growth of 4.1% CAGR in the foreseeable future.
Zimmer Biomet (The U.S), Stryker Corporation (The U.S), DePuy Synthes (The U.S), Smith & Nephew plc (UK), Corin Group (UK), Medacta International (Switzerland), Wright Medical Group Inc. (The U.S), Aesculap Implants Systems LLC (The U.S), Allegra Orthopaedics Limited (Australia), DJO Global, Inc. (The U.S) and Johnson & Johnson Services Inc. (The U.S) are among the key players in the knee replacement market.
The knee replacement market size is expected to reach USD 12.2 billion in the coming years.
North America accounted for the largest share of the knee replacement market in 2020.
Asia-pacific is expected to register the fastest growth in the knee replacement market during the forecast period.
The total knee replacement segment accounted for the largest share of the knee replacement market in 2020.
Knee replacement manufacturers, Knee replacement suppliers, Knee replacement distributors, Organizations, Government bodies are the target audience in the knee replacement market.
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