Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Total knee arthroplasty is one of the most common surgery procedure performed for management of pain and restoring function of severely damaged knee joint in orthopedic conditions such as osteoarthritis. This surgery involves cutting away damaged portions of the knee bones and replacing them with metal alloy implants and polyethylene polymers. Orthopedic surgeons carry out a full medical evaluation to determine suitability and risks associated with the surgery. Imaging analysis of the knee such as radiography is carried out to assess the severity of joint damage and ensure proper alignment of the artificial joint before closing the surgical incision. Total knee arthroplasty is recommended in conditions such as severe knee pain, while carrying out normal day to day activities, knee deformity, chronic knee inflammation, and failure of other drug or surgery treatments for pain management.
Global Total Knee Arthroplasty Market - Impact of the Coronavirus (COVID-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19, as pandemic on March 11, 2020.
For instance, according to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 177,866,160 cases and 3,857,974 deaths due to coronavirus disease (COVID-19) were reported till June 20, 2021, across the globe.
Impact of COVID-19 on Demand and Supply of Total Knee Arthroplasty
The COVID-19 pandemic and lockdown in various countries across the globe have negatively impacted the financial status of businesses across all sectors. The medical devices sector is one such sector which has been majorly impacted by the pandemic.
During the COVID-19 pandemic, several patients with arthritis are struggling to receive treatment due to hospitals canceling or delaying surgeries and other procedures, including arthroplasty and other knee replacement surgeries. There is also a concern that patients who have mild arthritis that require timely implementation of surgery have unfortunately concluded that the risk of contracting COVID-19 may outweigh the benefits of arthroplasty. As non-essential surgery restrictions remain in parts of the U.S., the COVID-19 pandemic is having a profound impact on hip and knee arthroplasty surgery volume and could translate to major financial loss.
For instance, a study named ‘The Initial Impact of COVID-19 on Total Hip and Knee Arthroplasty,’ was published in the Elsevier Public Health Emergency Collection, in January 2021, which conducted a retrospective analysis of Medicare fee-for-service beneficiaries undergoing primary and revision total knee arthroplasty (TKA) and total hip arthroplasty (THA) in U.S. from January 1, 2020 to March 31, 2020, reported a steep decline of 94% in total knee arthroplasty (TKA) volumes during mid-March of 2020 and the total daily hospital medicare revenue for arthroplasty declined by 87% and surgeon revenue decreased by 85%.
Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global total knee arthroplasty market during the forecast period, owing to halt and delay of total knee arthroplasty surgeries during the pandemic.
The global total knee arthroplasty market is estimated to be valued at US$ 8,739.2 Mn in 2021, and is expected to exhibit a CAGR of 4.0% over the forecast period (2021-2028).
Figure 1: Global Total Knee Arthroplasty Market Share (%) Analysis, By Procedure, 2021
The increasing number of product launches is the major factor that is expected to drive the market growth over the forecast period.
The rising number of knee arthroplasty procedures is expected to drive growth of total knee arthroplasty market over the forecast period. For instance, according to the Annual Report for year 2020 published by the American Joint Replacement Registry, over 995,410 total knee arthroplasty procedures were carried out in the U.S. from the year 2012 till 2019.
Market players are focusing on carrying out clinical trials for efficacy and safety study of knee replacement surgery, this is expected to boost growth of the total knee arthroplasty market over the forecast period. For instance, in 2017, DePuy Orthopaedics, a subsidiary of Johnson and Johnson, initiated a clinical trial for ATTUNE Revision Knee System in patients, who developed infection after undergoing total knee arthoplasty. This clinical trial is conducted to ensure the safety, stability, and the wear and tear of the ATTUNE Revision Knee System. The study is expected to be completed by June 30, 2028.
Moreover, increasing number of product launches and approvals is expected to aid in the growth of the market over the forecast period. For instance, in 2019, Arthrosurface, Inc., a company involved in development of joint preservation technology, launched Patellofemoral (PF) WaveKahuna Arthroplasty System. The PF WaveKahuna is designed in such a way that it does not change the shape of the patella and the femoral trochlear groove, while maintaining patient’s native joint anatomy. It is designed for patients suffering from osteoarthritis of the distal patellofemoral joint, for patients with a history of patellar dislocation or patellar fracture, and it is also indicated for patients with failed previous knee replacement surgery. Moreover, in August 2020, DJO LLC, a leading global provider of medical technologies announced launch of two new EMPOWR systems, EMPOWR Acetabular and EMPOWR Partial Knee. Both systems were designed to restore health of knee joint.
Total Knee Arthroplasty Market Report Coverage
||Market Size in 2021:
||US$ 8,739.2 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 11,484.8 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Device Type: Three-compartmental Knee Implants, Bi-compartmental Knee Implants, Uni-compartmental Knee Implants
- By Procedure: Primary Knee Replacement, Revision Knee Replacement, Partial Knee Replacement
- By Implant Type: Fixed-bearing Implants, Mobile-bearing Implants, Medial Pivot Implants
- By Material: Metal-on-Plastic, Ceramic-on-Ceramic, Metal-on-Metal
- By End User: Hospital, Orthopedic Clinics, Ambulatory Surgery Centers
Depuy Synthes (Johnson & Johnson), Zimmer Biomet Holdings, Inc., MicroPort Scientific Corporation, Conformis Inc., Corin Group, Exactech Inc., DJO LLC. (Colfax Corporation), Medacta International, Smith & Nephew plc, Stryker Corporation, Baumer SA, SurgTech Inc., and Meril Life Sciences Pvt. Ltd.
- Increasing number of knee arthroplasty procedures
- Increasing product launches and approvals
|Restraints & Challenges:
- Increasing product recalls
Market players are focusing on inorganic activities such as acquisition of orthopedic products, which is expected to drive the growth of the global total knee arthroplasty market over the forecast period. For instance, on May 15, 2021, Shalby Hospitals, a part of Shalby advanced Technologies, Inc., in Ahmedabad, Gujarat, India, acquired certain assets for US$ 11.45 million from Consensus Orthopedics. Consensus Orthopedics designs and manufactures orthopedic implants and Shalby Hospitals acquired product inventory from Consensus Orthopaedics include mobile bearing knee systems, total knee systems, hip systems, and others. This acquisition will allow the hospital to provide more options for patients requiring knee replacement surgeries.
Global Total Knee Arthroplasty Market – Restraints
The major restraining factor of global total knee arthroplasty market include increasing number of the U.S. Food and Drug Administration (FDA) recalls of knee replacement implants due to product failures, component inconsistency or compromised sterility issues, which is expected to hamper growth of the global total knee arthroplasty market size over the forecast period. For instance, in 2017, Zimmer Biomet, a U.S.-based medical device company recalled various knee implants packaged in low density polyethylene (LDPE) bags due to packaging tuck in implants.
Global Total Knee Arthroplasty Market – Regional Analysis
On the basis of region, the global total knee arthroplasty market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
Among regions, North America is expected to hold dominant position in the global total knee arthroplasty market over the forecast period, owing to rising number of product launches. For instance, in 2019, DePuy Synthes, a subsidiary of Johnson and Johnson, launched ATTUNE Cementless Knee implant in a rotating platform option, in the U.S. The cementless knee replacement demand is increasing especially in the younger population. ATTUNE cementless knee implant has been tested and it was found that the implant provides stability while the knee is in motion.
Market players in Europe are indulged in launching new products, which is expected to drive growth of the total knee arthroplasty market in Europe, over the forecast period. For instance, on May 16, 2021, Medacta International, a manufacturer and distributor of innovative orthopedic products and headquartered in Switzerland, launched new reduced metal ion release SensiTiN system, which features titanium niobium nitride (TiNbN) coated knee implants for use in total knee replacement and revision procedures.
Increasing knee replacement system approvals in Asia Pacific is expected to drive growth of the total knee arthroplasty market in Asia Pacific over the forecast period. For instance, on March 8, 2021, Conformis, Inc. announced that it received clearance from the U.S. Food and Drug Administration (U.S. FDA) for its product iTotal PS knee replacement system in Australia. With this clearance, the company increased its customer base for their product in Australia.
Figure 2: Global Total Knee Arthroplasty Market Value (US$ Mn), by Region, 2021
Global Total knee arthroplasty Market – Competitive Landscape
Major players operating in the global total knee arthroplasty market include Depuy Synthes (Johnson & Johnson), Zimmer Biomet Holdings, Inc., MicroPort Scientific Corporation, Conformis Inc., Corin Group, Exactech Inc., DJO LLC. (Colfax Corporation), Medacta International, Smith & Nephew plc, Stryker Corporation, Baumer SA, SurgTech Inc., and Meril Life Sciences Pvt. Ltd.