PUBLISHER: SkyQuest | PRODUCT CODE: 1250030
PUBLISHER: SkyQuest | PRODUCT CODE: 1250030
Global Total Knee Replacement market was valued at USD 10.2 billion in 2021 and is expected to reach USD 14.28 billion by 2028, growing at a CAGR of 4.76% during the forecast period. (2022 - 2028).
Global Total Knee Replacement market refers to the consumption and production of cocoa and chocolate products in the Asia Pacific region. The Asia Pacific region includes countries such as China, India, Japan, South Korea, Australia, and New Zealand, among others. Top-down and bottom-up approaches were used to estimate and validate the size of Global Total Knee Replacement Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
The Global Total Knee Replacement market is segmented based on Type, Procedure Implant Type, Fixation Type, End-User, and Region. Based on Implant Type, the market is segmented into Fixed-Bearing Implants, Mobile-Bearing Implants. Based on Type, the market is segmented into Primary Knee Replacement Systems, Revision Knee Replacement Systems, and Partial Knee Replacement Systems. Based on Procedure, the market is segmented into Total Knee Arthroplasty, Partial Knee Arthroplasty, and Revision Arthroplasty. Based on Fixation Type, the market is segmented into Cemented, Cementless, Hybrid, and Reverse Hybrid. Based on End-Use, the market is segmented into Hospitals, Orthopaedic Clinics. Based on region the global Total Knee Replacement market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East Africa.
Driver
The demand for bone procedures is expected to be significantly impacted in the future by an increase in the prevalence of knee osteoarthritis globally. The demand for knee implants is anticipated to increase in the next years along with the projected increase in the diagnosis rate of knee arthritis in the adult population. According to the Osteoarthritis Research Society International (OARSI), the prevalence of knee osteoarthritis will likely approach 5% globally and will likely continue to rise as the world's population ages. The ageing population and the pervasive prevalence of obesity are both contributing factors to the rising incidence of knee replacement procedures. According to the Arthritis Foundation, people between the ages of 55 and 64 are reported to have the highest annual incidence of knee osteoarthritis in the United States. In the predicted time frame, these variables are anticipated to boost demand for bone procedures globally.
Restraint
The utilisation of cutting-edge technology and implants made of precious metals during the knee replacement procedure necessitates stringent regulatory approval procedures, which raises the cost of the procedure. Unfortunately, the accessibility and affordability of these items are constrained in underdeveloped nations because to a lack of competent surgeons and inadequate healthcare resources. As a result, it is anticipated that this will limit market expansion in the years to come.
Trend
It is anticipated that knee replacement technology will progress significantly during the coming years. Robotic technology will be used more frequently during surgical procedures, improving results and hastening recuperation times. This includes the creation of robotic knee replacement technology, which will significantly improve the standard of treatment given to patients with knee discomfort. Minimally-invasive surgery, often known as MIS, is one of the most recent developments in knee replacement surgery and is regarded by specialists as a game-changer for inpatient treatment. There is no denying that MIS has improved orthopaedic surgery for patients.