June 09, 2022
According to the recent research report titled ‘Global Knee Implants Market - Analysis By Replacement Type (Total, Partial, Revision), Material (Metal Alloys, Ceramics, Plastics), Fixation Approach, By Region, By Country (2022 Edition): Market Insights, Pipeline and Forecast with Impact of COVID-19 (2022-2027)’ available with MarketStudyReport, global knee implants market was valued at USD 10.26 billion in 2021 and is expected to witness robust growth through 2022-2027.
Growing sedentary lifestyles and the subsequent rising prevalence of knee disorders, diabetes, obesity, rapid technological breakthroughs, and mounting geriatric population are some of the key factors driving the expansion of the global knee implants market.
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Various pharmaceutical companies are currently focusing on developing new and innovative products that also includes robot-assisted surgeries that can look after the multitude of the population through customized implants. This coupled with long-lasting improvements in knee functionality through technological breakthroughs are favoring the overall market scenario.
The COVID-19 outbreak resulted in widespread surgical restrictions and cancellation of implant procedures which negatively impacted the revenues of the orthopedic and medical device companies. However, as pandemic and the lockdown eased, global knee implants market witnessed recovering growth, with most healthcare settings working on the backlog of postponed surgeries.
Based on type, the market is divided into partial replacement, total replacement, and revision replacement. Moving on to material type, the global knee implants market is divided into ceramics, plastics, and metal alloys.
Citing fixation approach, the market is categorized into cementless, cemented, and hybrid.
The regional analysis of this business space extends to Middle East & Africa, Latin America, Asia-Pacific, Europe, and North America, with major emphasis on countries such as China, Japan, Australia, India, Italy, France, the U.K., Spain, Germany, the U.S., and Canada.
The prominent companies influencing the global knee implants market trends are Medartis Holding AG, B. Braun, Conformis Inc., Globus Medical Inc., Johnson & Johnson (DePuy Synthes), Medacta International S.A., MicroPort Scientific Corporation, Stryker Corporation, Smith & Nephew plc, and Zimmer Biomet Holdings Inc.