Rising Geriatric Population to Trigger the Growth of the Global Knee Replacement Market

Overview:

The global knee replacement market is expected to grow at a staggering CAGR of 6.1% over the forecast period (2017-2023), Market Research Future (MRFR) asserts. Rise in geriatric population and a surge in diseases such as osteoarthritis, post-traumatic arthritis or rheumatoid arthritis have made the knee replacement market a booming one.

Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/1578

Drivers and Restraints:

Sedentary lifestyle, along with increasing geriatric population is playing a distinct role in shaping the global knee replacement market. Among other issues, obesity and sports-related injuries are of pressing concern. With the advent of newer technologies, minimally invasive surgeries are also a possibility now and have spurred the need for knee replacement.

However, the global slowdown of economies and stringent stipulations implemented by various governments could deter the predicted growth rate during the forecast period.

Industry News:

Researchers are coming up with various new methods to enhance the experience of the patients. Robotically assisted operations are continually evolving bettering the prospect of knee replacement component’s positioning. For instance, DePuy Synthes, part of the Johnson & Johnson Medical Devices Companies, has recently launched ATTUNE Revision Knee System to provide stability during movement. In addition, it helps in precise balancing of muscle and ligament. Minimally invasive surgeries have now reduced the tissue trauma and the pain associated with it.

However, there are also researches going on that could impede the recent advancements of the technology. For instance, according to a study presented recently at Society of Interventional Radiology's annual meeting, in Los Angeles, tiny pellets inserted into blood vessels around the knee could slow down the effects of diseases, such as arthritis.

Segmentation:

The global knee replacement market is segmented based on product type, material, and end-user.

Based on product type the market is segmented into total knee reconstructive implants, partial knee reconstructive implants, and revision knee reconstructive implants. Total knee implants are further sub-segmented into mobile bearing implants, fixed bearing implants, medial pivot implants, and others. Total knee replacement is the largest grossing segment with the US and Germany contributing significantly to this vertical. Surgical advancements and developing economies are proving to be major driving factors.

Material-wise segmentation includes metal alloy, ceramic material, durable plastic parts, and others. Improved implant materials and their success rates are enabling the younger population to undergo knee replacement surgery and are boosting the global knee replacement market significantly.

On the basis of end-user, the market is segmented into hospitals and clinics, specialty centers, and rehabilitation centers. Hospitals and clinics are going to dominate the market in this segment.

Regional Analysis:

Geographically, this segment includes North America, Latin America, Europe, Asia Pacific and the Middle East & Africa.

North America is leading the population as various factors, such as rising geriatric population and technological advancement are making knee replacement a preferred alternative. Government initiatives are also pushing the market ahead. High procedural cost and reimbursement coverage can spur the demand for knee replacement procedure during the forecast period.

Europe is the second largest market. Increasing geriatric population, rising number of skilled professionals and advanced medical facilities are expected to play as a catalyst for the growth of this market.

Asia Pacific is the fastest growing region due to the prevalence of various joint-related diseases, such as arthritis and osteoarthritis. The increasing healthcare expenditure and the overall growth of the healthcare diagnostic and treatment industry are expected to drive the market forward. In addition, the booming medical tourism industry in the emerging economies of India and China is bolstering the knee replacement market in Asia Pacific region.

The Middle East and Africa are expected to show the least market growth owing to lack of awareness and limited access and affordability of treatment facilities. The United Arab Emirates is predicted to record a healthy growth due to the development of healthcare infrastructure.

Market Overview:

The global knee replacement market is highly concentrated owing to the presence of established international companies generating a significant amount of the market revenue. Research and developments, done by various companies, are going to boost the market growth and increase the competition.

Some of the significant players are Zimmer Inc., DePuy Synthes, Stryker, Smith and Nephew, and Kinamed, Inc.

Access Report @ https://www.marketresearchfuture.com/reports/knee-replacement-market-1578