NEWARK, Del, Sept. 09, 2022 (GLOBE NEWSWIRE) -- The global knee reconstruction devices market is expected to reach a market valuation of US$ 8.28 Billion by the year 2022, accelerating with a moderate CAGR of 4.3% by 2022-2032. Knee reconstruction devices market size is anticipated to be valued at about US$ 12.62 Billion by 2032 end.
Innovations in product design and functionality have been driving significant growth in the global knee reconstruction devices market, as reported by FMI. The prevalence of knee problems including arthritis and knee pain has been good for business in the knee reconstruction devices market. Not only that, but major regulatory bodies all around the world have loosened up on permits to ease entry into their respective markets.
The rapid growth of healthcare technology in recent years has allowed for the creation of innovative and effective knee repair methods and devices. A growing preference for less invasive medical treatments is also influencing the knee reconstruction devices market. The modern knee reconstruction devices market has been greatly influenced by developments in surgical technique and instruments.
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Technology advancements and the increased incidence of orthopaedic ailments should drive growth in the demand for knee reconstruction devices. Growing demand for knee reconstruction devices is being fuelled in part by an increasing patient pool and the rising incidence of lifestyle-related diseases. Hip or knee replacement surgery is not considered life-threatening during the ongoing COVID-19 outbreak.
The market for knee reconstruction devices is becoming increasingly competitive as the number of businesses offering such products rises. Companies anticipate investing heavily in research and development for innovative new products in order to maintain competitiveness. The demand for knee reconstruction devices is increasingly placing its fortunes on cutting-edge innovations like 3D printing. New developments not only save money, but also make use of mobile apps to assist doctors monitor real-time data and provide better treatment for patients. The benefits of knee reconstruction devices are likely to raise demand for these products, propelling the knee reconstruction devices market ahead over the forecast period. There is a good chance that the widespread use of cutting-edge medical tools, such those used in knee reconstruction procedures, is expected to boost the knee reconstruction devices market.
Key Takeaways
Because of a lack of available orthopaedic doctors and stagnant income levels, knee reconstruction devices markets in Latin America and the Middle East and Africa are expected to develop slowly over the next years.
In 2020, 70.3% of all revenue generated from knee reconstruction devices came from the joint replacement subsegment.
Companies such as Zimmer Biomet, Stryker Corporation, Smith & Nephew Plc, Johnson & Johnson Services Inc., B. Braun Melsungen AG, Medacta International, and MicroPort Scientific Corporation are among the leaders in the global knee reconstruction devices industry.
The global knee reconstruction devices market is anticipated to expand during the projected period on the back of rising product approvals and launches and the rising incidence of arthritis.
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Competitive Landscape
The demand for knee reconstruction devices is moderately concentrated globally, with a handful of firms accounting for many sales. Industry frontrunners are investing heavily in research and development to produce game-changing knee reconstruction devices in the hopes of speedily winning over regulators and expanding their respective markets.
Recent Developments
In March of 2021, Acutive Technologies gained FDA authorization for its Citrespline and Citrelock ligament restoration devices. The knee is just one of several joints that can benefit from the use of these devices in reconstructive surgery.
The VELYS Robotic-assisted solution, developed by Johnson & Johnson Medical Devices Company (J&JMD), was approved by the Food and Drug Administration (FDA) in January 2021 for use in conjunction with the company's Attune Total Knee System, part of J&JMD's larger effort to develop a digital surgery platform that makes use of interconnected technologies.
In addition, Conformis Inc. announced that the Therapeutic Goods Administration of Australia has given its patient-specific iTotal PS total knee replacement system the green light. The goal of this technology is to offer personalised reconstructive procedures for each individual patient.
Key Players:
- Zimmer, Inc.
- Stryker Corporation
- DePuy Synthes
- Smith & Nephew
- Corin
- United Orthopedic Corporation
- Arthrex Inc.
- Exactech Inc.
- DJO Global
- Japan Medical Dynamic Marketing
- Tornier Inc.
Knee Reconstruction Devices Market by Segmentation
By Product:
- Cemented Implants
- Cementless Implants
- Partial Implants
- Revision Implants
By End User:
- Hospitals
- Orthopaedic Clinics
- ASCs
By Indication:
- Osteoarthritis
- Rheumatoid Arthritis
- Trauma
- Others
Table of Content
1. Global Knee Reconstruction Devices Market - Executive Summary
2. Global Knee Reconstruction Devices Market Overview
2.1. Introduction
2.1.1. Global Knee Reconstruction Devices Market Taxonomy
2.1.2. Global Knee Reconstruction Devices Market Definition
2.2. Global Knee Reconstruction Devices Market Size (US$ Mn) and Forecast, 2022 – 2032
2.2.1. Global Knee Reconstruction Devices Market Y-o-Y Growth
2.3. Global Knee Reconstruction Devices Market Dynamics
2.3.1. Drivers
2.3.2. Restraints
2.3.3. Trends
2.4. Supply Chain
2.5. Cost Structure
2.6. Pricing Analysis
2.7. Raw Material Sourcing Strategy and Analysis
2.8. Procedure Numbers By Region
2.9. Key Participants Market Presence (Intensity Map) By Region
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