Knee Reconstruction Devices Market

Knee Reconstruction Devices Market Size (2022 to 2027)

As per our report, the global knee reconstruction devices market is expected to be worth USD 7.54 billion in 2022 and is estimated to grow at a CAGR of 4.35%, reaching USD 9.33 billion by 2027. 

Knee Reconstruction Devices Market Share Insights:

• Based on region, North America led the knee reconstruction devices market in 2021.
• The European region is predicted to be worth USD 2.62 billion by 2027.
• The Asia-Pacific is expected to progress at a CAGR of 4.42% from 2022 to 2027.

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 challenging 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. 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:

YOY growth in the aging population suffering from knee-relevant disorders such as arthritis and osteoarthritis is one of the major factors propelling the knee reconstruction devices market growth.

According to the World Health Organization (WHO) predictions, one in every six people are expected to be more than 60 years by 2030. According to the Centers for Disease Control and Prevention (CDC), an estimated 58.5 million people in the United States have arthritis. As per the same source, around 32.5 million adults from the United States have osteoarthritis. In addition, factors such as the growing adoption of technological developments and favorable reimbursement policies propel the knee reconstruction devices market growth. Many countries worldwide have become medical 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.

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, the growing number of bone-relevant illnesses, and the rising prevalence of accidents leading to the increasing number of knee reconstructions are further fuelling the market’s growth rate. 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 pricing pressure of knee reconstruction devices is one of the significant factors limiting market growth. In addition, a product recall is another significant challenge 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, reconstructive knee 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 can treat patients infected with the Coronavirus, and only a few can 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 will 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

Geographically, the North American knee reconstruction devices market was the dominating region globally in 2021 and is predicted to remain dominant throughout the forecast period. The growing healthcare expenditure and awareness regarding the treatment options available for knee reconstruction propel regional market growth. The U.S. market is predicted to lead the North American region, followed by Canada during the forecast period owing to the presence of key market participants and favorable reimbursement policies.

The European knee reconstruction devices market is another lucrative region worldwide. The growing aging population across the European region and the growing incidence rate of arthritis are majorly promoting the European market growth. In addition, the growing number of people suffering from chronic diseases and the growing affordability of knee implants are expected to boost the knee reconstruction devices market in the European region in the coming years. In Europe, the German market is expected to dominate during the forecast period and accounted for 35% of the European market share in 2019, followed by France.

However, the Asia-Pacific knee reconstruction devices market 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 were 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. Aging people who have developed osteoarthritis reduces the knee's pain and advance the patient's comfort. Mexico has earned familiarity over its potential to provide excellently reasonable orthopedic treatment options. The Brazilian knee reconstruction devices market is to have a tremendous growth rate in the region. 

The knee reconstruction devices market in MEA 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, which 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 with 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.