Selbyville, Delaware, Nov. 25, 2020 (GLOBE NEWSWIRE) --
According to latest report “Total Knee Replacement Market by Product (Primary Knee Replacement Systems, Revision Knee Replacement Systems, Partial Knee Replacement Systems), Device Type (Three-compartmental Knee Implants, Bicompartmental Knee Implants, Unicompartmental Knee Implants), Component (Femoral, Tibial, Patellar), Implant Type (Fixed-Bearing Implants, Mobile-Bearing Implants, Medial Pivot Implants), Design (Cruciate Retaining, Posterior Stabilized Design), Surgery Type (Traditional Surgery Type, Technology Assisted Surgery Type) Fixation Material (Cemented, Cementless, Hybrid), Material (Metal-on-plastic, Ceramic-on-plastic, Ceramic-on-ceramic, Metal-on-metal), Polyethylene Inserts (Conventional Polyethylene Inserts, Highly Cross-Linked Polyethylene Inserts, Antioxidant Polyethylene Inserts), End-use (Hospitals, Ambulatory Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of total knee replacement will cross $16.2 billion by 2026.
Growing infection rates are contributing to the increase in number of knee revision procedures. Periprosthetic joint infection is one of the most common complications after the total knee arthroplasty and can lead to further complications such as rheumatoid arthritis and wound-related complications. Therefore, revision knee replacement is performed to treat the post-surgical infection and its complications resulting in increased number of knee replacement procedures. Superficial infections can also occur after total knee replacements, thereby leading to knee revision.
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Increasing demand for patient specific and personalized implants will augment the total knee replacement market growth. Patient specific knee implants work with patients’ tendons and ligaments, and function similar to the human body’s knee components, thereby providing easy mobility and significantly improved clinical outcome. Therefore, patients prone to knee related disorders have led to an increase in demand for patient specific and personalized implants. Patients focusing to remain active also prefer personalized and patient specific implants.
The partial knee replacement system will showcase growth of over 35% till 2026. Partial knee replacement systems are required to perform partial knee arthroplasty in patients suffering with osteoarthritis in one of the components of the knee. Growing number of osteoarthritic patients has augmented the demand for partial knee replacement systems. Partial knee replacement systems provide several advantages to patients such as shorter hospital stay, faster recovery, reduced pain, better mobility, less trauma and blood loss.
Bicompartmental knee implants segment valued at more than USD 1.27 billion in 2019 owing to knee biomechanics, faster pain relief, lower complication rates and faster rehabilitation provided by the bicompartmental knee implants. Bicompartmental knee arthroplasty involves the placement of bicompartmental implants and are considered as a reliable knee replacement procedure which has lower complication rate.
Patellar component in the total knee replacement market accounted for USD 1.03 billion in 2019 led by balanced loading of patellofemoral joint post the total knee arthroplasty and optimal kinematics by patellar component. Patellar component can also be resurfaced to treat conditions such as severe anterior knee pain, damaged articular cartilage, inflammatory arthritis and patellar subluxation.
Total knee replacement market for medial pivot implants is projected to expand at a CAGR of 39% through 2026. Medial pivot implants have been designed to restore the physiological kinematics of the normal knee with confinement of the anterior sliding movement. Medial pivot implants ensure increased range of motion (ROM) and higher stability with minimum level of constraint post total knee arthroplasty. Therefore, surgeons are utilizing medial pivot implants in knee replacement procedure to provide better clinical outcomes to patients, leading to an increase in demand for medial pivot implants.
Posterior stabilized design in the total knee replacement market crossed USD 4.51 billion in 2019. Posterior stabilized design provides easier balance to the knees in patients post-surgery as well as assist the surgeons to perform the knee replacement procedures with ease. Posterior stabilized design also provides increased range of motion (ROM) post the knee replacement procedures.
Total knee replacement market for technology assisted surgery segment is estimated to attain a CAGR 41% during 2020 to 2026 impelled by the factors such as preoperative planning and accuracy of procedure. Technology assisted surgery provides precised mechanical lower leg alignment and implant positioning.
Hybrid fixation segment valuation was USD 536 million in 2019. Hybrid fixation of implants is considered to be safe, timesaving and a better alternative to other fixation materials. Hybrid fixation is a better option as it allows bone in-growth where cemented fixation is not possible.
Metal-on-metal material segment exceeded USD 1.28 billion in 2019. Metal-on-metal implants provide increased range of motion (ROM) to the younger patients for prolonged duration. Metal-on-metal implants can also be considered for active men as metals last longer than ceramic.
Antioxidant polyethylene inserts segment in the total knee replacement market is poised to register growth of 42.6% till 2026 propelled by reduced risk of oxidation degradation of polyethylene and reduced wear of antioxidant polyethylene inserts. Also, antioxidant polyethylene inserts have high strength that provides mechanical stability.
The hospital end-use segment revenue to reach USD 7.31 billion in 2019 due to increased patient inflow suffering from fatal knee injuries and other knee-related disorders. Availability of technologically advanced knee replacement procedures and implants will lead to an increased patient inflow in the hospital settings.
Brazil total knee replacement market size was more than USD 76 million in 2019 on account of growing number of orthopedic injuries and diseases along with increase in total knee replacement procedures. According to the National Center for Biotechnology Information (NCBI), the average rate of total knee arthroplasty revisions was 0.44 per 100,000 inhabitants in the last decade. Favorable reimbursement scenario and initiatives by the government is augmenting the number of knee replacement procedures in the country.
Some of the major players operating in the total knee replacement market include 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 adopting several strategic mergers, acquisitions, partnerships and collaborations in order to launch new products and strengthen their industrial position.
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Table of Contents (ToC) of the report:
Chapter 3 Total Knee Replacement Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2015 – 2026
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.5 COVID-19 impact analysis
3.6 Regulatory landscape
3.7 Reimbursement scenario
3.8 Epidemiology analysis
3.9 Porter’s analysis
3.10 Competitive landscape, 2019
3.11 PESTEL analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.