Latin America Knee Reconstruction Devices Market

Latin America Knee Reconstruction Devices Market Size (2023 to 2028)

The size of the Knee Reconstruction Devices Market in Latin America was worth USD 0.68 million in 2023 and estimated to be growing at a CAGR of 4.15%, to reach USD 0.83 million by 2028 The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rapid development in the industry.

Frequent technological advancements in orthopedic with newly developed prostheses having better joint strength and reliability, design and functionality of the devices, improvements in surgical tools that reduce the need and cost for surgeries are driving the market. Development in robotic surgical procedures with higher levels of precision will support the adoption of knee reconstruction devices. In addition, the latest research has seen the inclusion of Artificial Intelligence (AI) for knee repair. This increasingly helps surgeons develop highly personalized plans for surgical procedures taking into account factors such as knee movement, surrounding muscle strength, and others., which significantly determines the prognosis of the treatment. These recent developments also contribute considerably to results in knee reconstruction.

Other factors include an increase in healthcare expenditure, high investment in R&D, precision-based methods of surgeries, skilled physicians with knowledge in hip and knee reconstruction or replacements, growing preference for minimally invasive surgeries, and rapid growth in the population of geriatric patients is driving the market. In addition, the incidence of chronic bone disorders causing knee pain due to conditions such as osteoarthritis has generated profits for market players.

Additionally, market leaders focus on integrating 3D technologies to improve production and profitability. At the same time, major regulatory bodies have facilitated approvals to enhance market access to such innovative products and devices in the Latin American market.

On the one hand, the knee reconstruction devices market in Latin America is growing rapidly; however, manufacturers face various challenges that can negatively affect long-term developments in the market. Factors such as the high purchase cost of the knee reconstruction device and associated services and the need for market players to comply with stringent regulations issued by bodies such as the FDA are restraining the market. In Mexico, the cost of a single knee replacement surgery is around USD 13 thousand, while the price of the same procedure in Colombia is at USD 7.5 thousand. In addition, post-surgical issues, especially in terms of biocompatibility and healing, are anticipated to remain a concern for market players for the foreseeable future.

This research report on the Latin America Knee Reconstruction Devices Market has been segmented and sub-segmented into the following categories:

By Product Type:

• Primary Cemented
• Primary Cementless
• Partial
• Revision Implants

By Country:

• Brazil
• Argentina
• Chile
• Mexico
• Rest of Latin America

In 2022, Brazil accounted for the majority of the share, with over 60% Latin America. However, Brazil is projected to be a slow-growing market in the region through 2027, while Argentina and Chile have a CAGR of 6.5 and 6.2%, respectively. Factors such as growing awareness about knee reconstruction devices for the management of musculoskeletal pain, the presence of the leading manufacturers in the country, and significant investments for healthcare facilities will significantly contribute to the market growth in Brazil.

In recent years, many Latin American regions such as Argentina, Chile, Peru, and Mexico have seen a noticeable increase in joint reconstruction procedures, with hip and knee procedures being the main areas of application. According to the Center for Orthopedic and Neurosurgical Care and Research, around one million hip and knee replacement surgeries are performed annually. In addition, almost 40% of all adults develop osteoarthritis of the knee in their lifetime. All these factors are expected to accelerate the market growth opportunities during the forecast period.

KEY MARKET PLAYERS:

Companies playing a prominent role in the Latin America Knee Reconstruction Devices Market analyzed in this report are Zimmer, Inc., Stryker, DePuy Synthes, Smith & Nephew plc, Arthrex Exactech, Inc., Corin, DJO North America, Japan Medical Dynamic Marketing, Inc.