Total Knee Replacement Market size worth over $16 Bn by 2026
Published Date: November 24, 2020 Authors: Sumant Ugalmugle, Rupali Swain
Total Knee Replacement Market size is set to surpass USD 16.2 billion by 2026, according to a new research report by Global Market Insights, Inc.
Rising geriatric population has led to an increase in incidences of injuries, fractures and disorders pertaining to knee. As a result, the number total knee replacement procedures performed in a year has increased across the globe. According to the National Center for Biotechnology Information (NCBI), currently around 5% of all the total knee arthroplasty surgeries are performed in patients with 85 years of age or above. This can be attributed to the growing prevalence of knee osteoarthritis in geriatric population. Therefore, these factors are resulting in increasing number of people undergoing total knee replacement procedures. Additionally, growing obese population that are prone to knee related disorders, suffer from severe knee pain and find difficulty in performing daily life activities leading to increase in demand for total knee replacement procedures.
Technological advancements in knee replacement procedures and products will uplift the market growth. Several technological advancements in knee implant designs have enhanced the efficacy of knee replacement procedures. The latest advancement is the application of additive-manufacturing technology or 3D printing in the process of implant manufacturing. The application of this technology enables to produce high quality custom implants based on patients’ computed tomography (CT) scans and provides better clinical outcomes. Growing utilization of 3D printing technology will further fuel the demand for cementless knee implants. Optimized custom implants are also being manufactured using CAD/CAM Data Driving Advancement Technology. Computer-assisted manufacturing (CAD) data uses magnetic resonance (MR) to design implants based on patients’ anatomical needs.
Rise in revision knee replacement surgeries will boost the total knee replacement market expansion
The revision knee replacement systems segment valuation was around USD 653 million in 2019 owing to increase in number of revision knee replacement surgeries. The factors such as infection of implants, excessive wear of plastic spacer between metal components of implants and loosening of implants will augment the need for revision knee replacement procedure. In some patients the instability of ligaments prevents the proper working of implants leading to need for revision knee replacement.
Browse key industry insights spread across 959 pages with 2,474 market data tables & 43 figures & charts from the report,“ Total Knee Replacement Market Size By Product (Primary Knee Replacement Systems, Revision Knee Replacement Systems, Partial Knee Replacement Systems), By Device Type (Three-compartmental Knee Implants, Bicompartmental Knee Implants, Unicompartmental Knee Implants), By Component (Femoral, Tibial, Patellar), By Implant Type (Fixed-Bearing Implants, Mobile-Bearing Implants, Medial Pivot Implants), By Design (Cruciate Retaining, Posterior Stabilized Design), By Surgery Type (Traditional Surgery Type, Technology Assisted Surgery Type) By Fixation Material (Cemented, Cementless, Hybrid), By Material (Metal-on-plastic, Ceramic-on-plastic, Ceramic-on-ceramic, Metal-on-metal), By Polyethylene Inserts (Conventional Polyethylene Inserts, Highly Cross-Linked Polyethylene Inserts, Antioxidant Polyethylene Inserts), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020– 2026”in detail along with the table of contents:
Growing demand for unicompartmental knee implants will enhance the total knee replacement market value
Unicompartmental knee implant segment is projected to witness more than 36.5% growth rate till 2026. Unicompartmental knee arthroplasty is majorly preferred procedure for the treatment of femero-tibial degeneration. Moreover, development of improved implant designs that reduce recovery time have uplifted the preference for unicompartmental knee arthroplasty.
Rising usage of femoral component will spur the market revenue
The femoral component in the total knee replacement market crossed USD 4.57 billion in 2019 led by the increase in number of knee replacement procedures requiring femoral component replacement. The femoral components provide high stability of kneecap movement due to reduced flexion gap. Growing cases of severe knee osteonecrosis has resulted in augmenting the total knee arthroplasty surgeries.
Increasing demand for fixed-bearing implants is expected to influence the product adoption
Fixed-bearing implant segment dominated 74% of the total knee replacement market share in 2019 impelled by the growing demand for fixed-bearing implants as they are long-lasting and provide ease in knee mobility. Fixed-bearing implants are preferred by several surgeons for conducting knee replacement procedures in elderly patients as they provide low contact stress.
Growing preference for cruciate retaining design will drive the total knee replacement market demand
Cruciate retaining design exceeded USD 3.53 billion in 2019. Cruciate retaining is less constrained prosthesis design and allows better controlled femoral rollback. The procedure of cruciate retaining design prosthetic knee implants is minimally invasive, has long-term durability and restores normal knee kinematic post the knee replacement procedures.
Adoption of traditional knee replacement surgery will spur the industry growth
Traditional surgery type dominated 89% of revenue share in 2019. Traditional total knee replacement surgery provides proper view to the surgeon for alignment of implant and bone with ensured durability. Presently, over 80% of total knee replacement procedures are performed by traditional approach due to lack of awareness regarding technology assisted procedures.
Increasing acceptance of cemented fixation implants will impel the market growth
Cemented fixation material in the total knee replacement market accounted for USD 7.26 billion in 2019 propelled by delivery of antibiotics and lower rates of aseptic loosening of implants provided by cemented fixation. The cemented fixation of knee implants provides better clinical outcomes with reduced risk of post-surgical infections and prolonged effectiveness. Furthermore, utilization of cemented fixation material eases the total knee replacement surgical procedure and provides primary stability to the knee implants.
Rise in preference for metal-on-plastic material will augment the market share
Metal-on-plastic is estimated to attain a CAGR of over 34.5% through 2026. Metal-on-plastic material is the most widely used material in total knee replacement surgery across the globe owing to high wear-resistance of plastic used in the material along with the cost-effectiveness of metal-on-plastic material.
Growing preference for conventional polyethylene inserts will impact the industry growth
Total knee replacement market for conventional polyethylene inserts segment is poised to expand at more than 23.4% CAGR during 2020 to 2026 driven by their ability to prevent radiographic osteolysis or mechanical failure. Also, the conventional polyethylene inserts are cost-effective, thereby reducing the cost of knee replacement procedures.
Rising in need for cost-effective care will boost the market value
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Ambulatory surgery center valued at USD 1.26 billion in 2019 impelled by the increased preference for cost-effective care and growing number of orthopedic surgeries in the ambulatory surgery centers. The favorable reimbursement rate for total knee arthroplasty procedures in ambulatory surgery centers will lead to augmenting the market size. Additionally, factors such as shorter surgery duration and presence of technologically advanced facilities will increase the number of patients opting for ambulatory surgery centers.
Increasing healthcare reforms in China is anticipated to fuel the market expansion
China total knee replacement market size was USD 423 million in 2019 on account of the large patient population and growing healthcare expenditure. With progression in economy, the country can focus on government driven healthcare initiatives engaged in prioritizing effective healthcare in the country. According to a published article, Chinese government introduced “Healthy China 2030” medical reform initiative that aims at providing patients access to basic affordable healthcare facilities. The provisions by the initiative are improvements in hospital quality management, health insurance coverage, decreased public hospital expenses, and reduced cost of medical devices.
Companies focusing on strategies and launch of innovative products to expand customer base
Some of the major players operating in the total knee replacement market are Amplitude Ortho, B Braun Melsungen AG, ConforMIS, Inc., Corin Group, Johnson & Johnson, DJO Global, Exatech, Inc., Smith & Nephew PLC, and Stryker among others. These companies are proposing strategic acquisitions, mergers, collaborations with innovative product launches in order to generate significant revenue in the market and increase their geographical presence.
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