Knee Reconstruction Devices Market

Knee Reconstruction Devices Market Size (2022 to 2027)

As per our report, the global knee reconstruction devices market size is expected to be worth USD 7.54 billion in 2022 and is estimated to be growing at a CAGR of 4.35%, to reach USD 9.33 billion by 2027. The market is showcasing evident potential in the mentioned forecasting period.

The relocation and repositioning of the ligaments that keep the tibia together is part of knee repair. This tear might cause problems with bodily activities and make it difficult to complete a few tasks. Knee reconstruction often involves cementless implants, partial implants, revision implants, and cemented implants. Industry companies are developing new products with improved mechanical properties and biocompatibility. For example, a clinical trial for a ceramic device implant called “H1” is now underway. When compared to previous hip implants, this one is expected to have a faster recovery time. The market for knee reconstruction devices is expected to rise due to an increase in knee accidents. Furthermore, as the population ages, so does the prevalence of knee-related diseases such as osteoarthritis and rheumatoid arthritis.

MARKET DRIVERS:

The global knee reconstruction devices market continues to gain momentum with rapid development in the industry.

The global knee reconstruction devices market is driven by factors like the growth of an aging population and the increasing prevalence of arthritis, technological development, and suitable healthcare policies in most countries. Additionally, many countries worldwide have become healthcare tourism points for knee reconstruction surgeries, as they provide quality treatment at affordable prices. Total joint replacement of a dysfunctional knee using artificial knee implants has been a reliable and efficient treatment method. It provides a significant improvement in the performance and quality of life of patients across the world. Knee pain, caused by musculoskeletal diseases like osteoarthritis (OA), is a quickly growing disease estimated to increase the substantial demand for knee reconstruction surgeries in the future years.

The growing aging population suffering from knee-relevant disorders such as arthritis and osteoarthritis is market growth.

The market players focus strongly on inventing or implementing new devices to reconstruct the knee, growing obesity. Obese people gain more weight making them unable to walk as the whole-body weight pressurizes the knee. The deep-rooted healthcare structure and high occurrence of arthritis in aged people boost the market growth during the assessment period. The rising patient count with the growing number of hospitals with expert professionals, enlarging product approvals, and introducing new devices into the markets.

The surging number of knee-implants, growing vast number of bone-relevant illnesses, and frequent prevalence of accidents push the market forward. In October 2014, Zimmer Holdings, Inc. obtained ETEX Holdings, which has advanced, produced, and commodified biomaterials for developed orthopedic clinical results. Nearly 67 million people are to be affected by arthritis by 2030, according to the Arthritis Foundation. 

MARKET RESTRAINTS:

The prising pressure of the knee reconstruction devices is one of the major factors limiting the market growth. In addition, a product recall is another significant challenging factor in the knee reconstruction devices market.

COVID-19 impact on Knee Reconstruction Devices Market:

Almost all hospitals conform to standard guidelines such as mandatory Covid-19 testing of patients before surgery, disinfecting hospital premises, sterilizing operating rooms, adhering to standard infection control protocols established by apex bodies/hospital authorities, and routine Covid-19 testing of hospital staff, among others. Furthermore, the market expansion is fueled by a surge in lifestyle disorders and a growing target demographic. During the COVID-19 pandemic, knee reconstructive surgeries were deemed non-essential. Therefore, hospitals and clinics have become vital sites for saving the lives of Covid-19 sufferers. However, not all hospitals are permitted to treat patients who have been infected with the Coronavirus, and only a few are permitted to provide general patient treatment. Emergency procedures in orthopedics, such as those for unbearable joint pain or accidental instances, are performed in hospitals with the essential measures in place. As a result, the market has had negative growth during this pandemic and grow in the coming years.

REPORT COVERAGE:

This research report on the global knee reconstruction devices market has been segmented and sub-segmented based on the product type and region.

Knee Reconstruction Devices Market - By Product Type:

• Primary Cemented
• Primary Cementless
• Partial
• Revision Implants

Knee Reconstruction Devices Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Among all the regions, the Global Knee Reconstruction Devices market was dominated by North America, with the largest market share globally. Still, Asia Pacific is expected to show the highest CAGR in the forecast period.

The North American market was the most dominating region globally in 2020 and is predicted to remain dominant throughout the forecast period. The regional market's growth is driven by the swelling medical expenses, growing awareness of the treatment options available. In North America, the United States is predicted to lead the market, followed by Canada. The presence of key market participants and favorable reimbursement policies are expected to drive the market.

The European knee reconstruction devices market is another lucrative region globally and was worth USD 2.03 billion in 2020. The growing aging population and growing incidence rate of arthritis are majorly promoting the European market growth. In Europe, the German market is expected to dominate the market during the forecast period and accounted for 35.0% in 2019, followed by France. In addition, the growing number of chronic diseases and diminishing price of knee implants are majorly driving the market growth during the assessment period. 

However, the Asia-Pacific is expected to showcase a robust CAGR due to the rising patient population. In APAC, the Chinese market is the most promising regional market and is expected to witness a CAGR of 10% between 2021 to 2026. In addition, the rising incidence of obesity and osteoporosis in people is significantly boosting the market. Since 2019, 10 major hospitals in India have acquired robotic surgeries for knee reconstruction. In Japan, in 2015, knee replacement devices are the quickest, with a hiking number of active patients increasing the demand for knee joint market growth. On March 01, 2021, the iTotal PS knee replacement device by Conformis, Inc. received a clearance form from Therapeutics Goods and Administration and launched in the U.S in 2016. 

The Latin American knee reconstruction devices market is forecasted to showcase a stable CAGR between 2021 to 2026. The aging people who have developed osteoarthritis reduce the knee's pain and advance the patient's comfort. Mexico has earned familiarity over its potentiality to provide excellently reasonable orthopedic treatment options. The Brazilian knee reconstruction devices market is to have a tremendous growth rate in the region. 

The Middle East & African region has a notable growth rate in the knee reconstruction devices market due to the growing demand, advanced technologies, and appropriate healthcare reimbursement policies. The number of knee surgeries is increasing in UAE, and UAE has appeared as a medical hub. The state-of-art technology, well-qualified and experienced professionals, and authorized medical centers. Anterior Cruciate ligament (ACL) reconstruction surgery is one of the most familiar and successful treatment options as people travel abroad for this surgery. The ACL provides the patient a better quality of life. 

KEY MARKET PARTICIPANTS:

Companies dominating the Global Knee Reconstruction Devices Market profiled in this report are Zimmer, Inc., Stryker, DePuy Synthes, Smith & Nephew plc, Arthrex, Exactech, Inc., Corin, DJO Global, Japan Medical Dynamic Marketing, Inc.

RECENT MARKET DEVELOPMENTS:

• The FDA approved the novel Bridge-enhanced ACL Repair Implant by Miach Orthopedics Inc. as an anterior cruciate ligament implant to treat ACL injuries in December 2020.
• DJO LLC announced the availability of two new EMPOWR systems, the EMPOWR Partial Knee and EMPOWR Acetabular, in August 2020. These systems are meant to restore kinematics by single tray implantation.