Westford USA, July 27, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the growth of the mobile-bearing implants segment is primarily fueled by rising demand among the young and energetic population in the knee replacement market. As per data from the US Department of Health and Human Services, a significant number of children, approximately 294,000 under 18, in the country have arthritis or rheumatic conditions.
Browse in-depth TOC on the "Knee Replacement Market"
- Pages - 242
- Tables - 64
- Figures – 77
Knee replacement surgery is a highly effective procedure designed to alleviate pain and restore functionality in individuals suffering from severely diseased knee joints in the knee replacement market. The surgical process entails removing damaged bone and cartilage from the thighbone, shinbone, and kneecap, and replacing these affected areas with an artificial joint, or prosthesis, crafted from durable materials such as metal alloys, high-grade plastics, and polymers.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 10.34 Billion |
| 2030 Value Projection | USD 16.1 Billion |
| CAGR | 5.67% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Knee Replacement Market
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
- Smith & Nephew plc
- Johnson & Johnson (DePuy Synthes)
- Medacta International SA
- MicroPort Scientific Corporation
- DJO Global Inc.
- Exactech Inc.
- ConforMIS, Inc.
- Arthrex, Inc.
- Corin Group PLC
- Waldemar Link GmbH & Co. KG
- B. Braun Melsungen AG
- LimaCorporate S.p.A.
- JRI Orthopaedics Ltd.
- Zimmerer GmbH
- Mathys AG Bettlach
- Japan MDM, Inc.
- United Orthopedic Corporation
- Ortosintese
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Partial Knee Arthroplasty Segment is Expected to Grow in the Market Due to Active Involvement of Prominent Market Players
The partial knee arthroplasty sector is anticipated to experience significant growth in the knee replacement market, primarily driven by the active involvement of prominent market players in pioneering and developing innovative partial knee implants. The approach of partial knee arthroplasty, which involves replacing only the affected knee bone, has garnered considerable attention from patients seeking personalized solutions.
The markets in the North America has emerged as the dominant player in the global knee replacement market. The region's leading position can be attributed to two primary factors anticipated to drive further market growth. There has been a significant increase in individuals diagnosed with osteoarthritis, a degenerative joint disease commonly affecting the knee, hip, and other joints.
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Total Knee Replacement (TKR) Segment is Expected to Dominate the Market Due to the Rising Prevalence of Arthritis
The global knee replacement market has witnessed a remarkable surge in demand, with the total knee replacement (TKR) segment taking the lead as the dominant player. This substantial market share can be attributed to various factors, chief among them being the rising prevalence of arthritis among the global population. As the number of patients with arthritis continues to grow, so the need for effective and reliable TKR solutions.
Regional markets in the Asia Pacific are poised for rapid growth in knee replacement market. Several key factors contribute to this anticipated surge. There has been a notable increase in the region's frequency of knee disorders and joint-related conditions.
A comprehensive analysis of the major players in the knee replacement market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Knee Replacement Market
- A significant breakthrough occurred in the field of orthopaedic surgery in Australia, where humans have started to replace robots in specific procedures in 2022. A pioneering orthopaedic surgeon in regional Victoria successfully executed the first-ever 3D-printed, bespoke knee replacement surgery. Initially developed in the United States, this innovative technique became accessible in Australia in March of the same year and has since been adopted by a select group of less than 20 surgeons, primarily in urban areas.
- A promising development in pain management following total knee replacement (TKR) was registered in 2022. Arthritis Innovation Corporation (AIC), a partner of MedinCell, initiated a phase 3 study to explore an alternative medication to treat discomfort experienced after TKR surgery. The medication, known as F14 or mdc-CWM, results from AIC's dedicated efforts and funding towards its development.
Key Questions Answered in Knee Replacement Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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