Infinium Global Research has added a new report on Knee Reconstruction Market. The report covers the analysis of global as well as regional markets of knee reconstruction. Moreover, the report gives insights into the factors that affect the global as well as regional performance of the market in the short run and in the long run.The global knee reconstruction market is projected to grow at a CAGR of 5.3% over the forecast period of 2019-2025.
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Knee pain affects millions of people every single day. Knee pain mainly arises from medical conditions such as ruptured ligament, torn cartilage, arthritis, gout, and infections. The knee reconstruction procedures are performed on patients suffering from severe knee pain and limited mobility. Research showed that, approximately 1.6 million hip and knee arthroplasties were performed in the United States in 2017, of which over 966,000 were knee replacements. The reconstruction procedure primarily involves the replacement of the anterior cruciate ligament (ACL) by an artificial ACL. This relocation of the joint provides the suffering patient relief from pain. In recent years, medical device companies have developed novel metals and plastics that resulted in more dependable, durable and long-lasting joint replacement.
Increase in the Geriatric Population And the Growing Prevalence of Degenerative Medical Conditions are the Major Driving Factors for the Global Knee Reconstruction Market
The increase in the geriatric population and the growing prevalence of degenerative medical conditions are the major driving factors for the global knee reconstruction market. Several research’s found that most people who undergo a knee replacement are between the ages of 50 and 80. The elderly people are prone to degenerative diseases such as osteoporosis and arthritis, which can increase the demand for knee reconstruction therapies.
Moreover, advancements in material technology and the development of new surgical techniques have led to further growth of the global knee reconstruction market. Innovative materials such as metals, plastic, and ceramics with better bio-compatibility and durability have found various application in surgical and orthopedics sector. While, the development of novel surgical procedures such as minimally invasive procedures has increased demand for the reconstruction surgeries. However, the high cost associated with knee reconstruction surgeries is the major restraint to the global knee reconstruction market. On the other hand, improving reimbursement scenario and various initiatives undertaken by the government is set to make the reconstructive procedures more affordable and accessible, which is predicted to provide considerable opportunities for the key players in the global knee reconstruction market.
Knee Reconstruction Market: Segmentation
The global knee reconstruction market is segmented based on product, indication and end user. The product segment is further divided into cemented Implants, cementless implants, partial implants, and revision implants. Out of these cemented implants accounted for maximum share in the global knee reconstruction market based on the product. The large share of cemented implants segment attributed to high usage by the professionals and the development of new materials for the implants. Based on indications the knee reconstruction market is segmented into osteoarthritis knee reconstruction, rheumatoid arthritis knee reconstruction, trauma knee reconstruction, and others.
By indication type, the osteoarthritis knee reconstruction dominated the market with the highest market share. The domination of the osteoarthritis segment attributes to an increase in the geriatric population and growing awareness about reconstruction procedures. The end user segment is further classified into Hospitals, Orthopedic Clinics, and Ambulatory Surgical Centers. Among the end users, hospital was the leading segment that held the largest market share. Factors including a growing patient preference to the hospitals and increasing funding by the government are projected to contribute to the large market share of the hospital segment.
North America Region Dominated the Global Knee Reconstruction Market
Regionally, the global knee reconstruction market is segmented into, North America, Europe, Asia-Pacific, and the Rest of the World. The North America region dominated the global knee reconstruction market owing to the growing geriatric population, availability of advanced medical infrastructure and high disposable income. While, Asia-Pacific registered the highest growth rate compared to other regions in the global knee reconstruction market. The fastest growth rate attributed to the large population suffering from degenerative diseases and a rise in government spending on the healthcare sector.
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Knee Reconstruction Market: Competitive Analysis
The global knee reconstruction market is a fragmented market in which small size, local companies compete with large size, multinational companies. The major players in the global knee reconstruction market are Smith & Nephew PLC, Stryker, Zimmer Biomet, DePuy Synthes Companies and DJO Global, Allegra Orthopaedics Limited., Arthrex GmbH, Corin Group, Exatech India Pvt Ltd., Japan Medical Dynamic Marketing, INC. and United Orthopedic Corp are some of the other companies in the market.
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the knee reconstruction.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.