Portland, OR, Nov. 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Knee Replacement Devices Market size was estimated at $8.8 billion in 2021 and is expected to hit $12.3 billion by 2031, registering a CAGR of 3.4% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $8.8 Billion |
| Market Size in 2031 | $12.3 Billion |
| CAGR | 3.4% |
| No. of Pages in Report | 337 |
| Segments Covered | Procedure Type, Implant Type, End-user, and Region. |
| Drivers | Rise in the prominence of post traumatic arthritis and surge in demand for minimally invasive surgical procedures |
| Restraints | Lack of awareness among individuals regarding advanced treatment procedures |
| Opportunities | Growing investment by the major manufacturers in R&D activities |
Covid-19 scenario-
- A huge number of hospitals and clinics across the world were restructured to heighten hospital capacity for the Covid-19 patients. Optional medical services were either postponed or delayed, which impacted the global knee replacement devices market negatively.
- However, as the global situation started getting back on track, the market for knee replacement devices also recovered slowly and steadily.
The global knee replacement devices market is analyzed across procedure type, implant type, end-user, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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Based on procedure type, the knee replacement segment contributed to around four-fifths of the global knee replacement devices market in 2021, and is expected to dominate by 2031. The same segment would also showcase the fastest CAGR of 3.6% throughout the forecast period.
Based on implant type, the fixed bearing segment held more than four-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The mobile bearing segment, simultaneously, would manifest the fastest CAGR of 4.4% throughout the forecast period.
Based on end-user, the hospitals segment held around four-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The ambulatory surgery centers segment, however, would cite the fastest CAGR of 5.2% throughout the forecast period.
Based on region, the market across North America generated nearly half of the global market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The Asia-Pacific region, at the same time, would manifest the fastest CAGR of 4.8% during the forecast period. The other provinces analyzed in the report include Europe and LAMEA.
The key market players analyzed in the global knee replacement devices market report include Zimmer Biomet, MicroPort Scientific, DePuy Synthes, ConforMis, Medacta, Stryker, Aesculap Inc (B Braun Company), Smith & Nephew, CONMED, and Exactech. market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
