Coherent Market Insights

Total Knee Arthroplasty Market to Surpass US$ 12.68 Bn by 2030

Total Knee Arthroplasty Market to Surpass US$ 12.68 Bn by 2030 - Coherent Market Insights

Publish In: Jan 09, 2024

Global Total Knee Arthroplasty Market, By Material Type (Metal On Plastic, Ceramic On Plastic, Ceramic On Ceramic, and Metal On Metal) By Biopsy Type (Fixed Bearing and Mobile Bearing), By End User (Hospital, Orthopedic Clinics, and Ambulatory Surgery Centers), By Region (North America, Latin America, Europe, Asia Pacific, Africa, Middle East) is estimated to be valued at US$ 9.13 Bn in 2023, and is expected to exhibit a CAGR of 4.8% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.

Global total knee arthroplasty market is expected to witness significant growth over the forecast period, due to increasing road accidents. For instance, according to data presented by the National Highway highway Safety Administration in the U.S.,highway deaths increased by roughly 10.5% in 2021 as compared to 2020 in May 2022. It also stated that fatalities on urban roads were roughly 57.0% in March 2020, rising to 62.0% in March 2021, thus representing a nearly 5.0% rise over the previous year. Similarly, according to the data published by the World Health Organization (WHO), in June 2022, road traffic injuries are one of the main causes of death among young adults aged 5 to 29 years and children. It also stated that 93.0% of global fatalities occur primarily in middle and low-income

Global Total Knee Arthroplasty Market - Impact of Coronavirus (COVID-19) Pandemic

The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.

Even when elective surgeries resumed, some patients chose to delay or avoid non-urgent procedures due to concerns about potential exposure to the virus in healthcare settings. This led to a reduction in the number of total knee arthroplasties performed during certain periods. Hospitals faced challenges in managing resources such as operating rooms, intensive care units, and healthcare  personnel. The need to allocate resources to COVID-19 patients affected the availability of facilities and personnel for elective procedures like total knee arthroplasty. Accordign to an article published, by Journal of American Academy of Orthopaedic Surgeons, a digital journal covering orthopaedic medicine, in the U.S. in December 2022, there was a decrease of 31.4% in total knee arthroplasty surgeries performed in 2020 as compared with surgeries performed in 2019.

Global Total Knee Arthroplasty Market: Key Developments

On March 08, 2023, Stryker, a medical device company, announced Mako Total Knee 2.0, the latest chapter in the Mako SmartRobotics series, at the American Academy of Orthopaedic Surgeons 2023 Annual Meeting in Las Vegas. Mako Total Knee 2.0 is based on over 500,000 Mako Total Knee surgeries and is meant to give the same, trusted outcomes surgeons expect from Mako with a new, improved user experience.

On March 06, 2023, Smith+Nephew, a global medical technology company, announced a systemic literature review and meta-analysis of its VISIONAIRE Patient-Specific Instrumentation (PSI), demonstrating that its use improves alignment accuracy, efficiency in surgical procedures, and length of hospital stay when compared to conventional instrumentation.

In Novermber 2022, Smith+Nephew, a global medical technology company,  launch of the JOURNEY II ROX total knee solution, a reverse hybrid construct for total knee arthroplasty. This innovative surgical product solution aims to provide surgeons the clinical advantage of an advanced bearing material and anatomic design mixed with the efficiency and potential long-term tibia fixation of a cementless knee.

In July 2022, Enovis, an innovative medical technology company, announced the commercial launch of ARVIS (Augmented Reality Visualization and Information System) in the U.S., with over 200 cases completed successfully. This U.S. FDA-approved system is the only exclusive, real-time, hands-free augmented reality (AR) technology specifically designed for orthopedic surgeons to visualize precision guidance when performing hip and knee surgery with the assistance of AR.

Browse 35 Market Data Tables and 31 Figures spread through 180 Pages and in-depth TOC on “Global Total Knee Arthroplasty Market”- Forecast to 2030, Global Total Knee Arthroplasty Market, By Material Type (Metal On Plastic, Ceramic On Plastic, Ceramic On Ceramic, and Metal On Metal) By Biopsy Type (Fixed Bearing, Mobile Bearing), By End User (Hospital, Orthopedic Clinics, Ambulatory Surgery Centers), By Region (North America, Latin America, Europe, Asia Pacific, Africa, Middle East)

To know the latest trends and insights prevalent in this market, click the link below:

Key Takeaways of the Global Total Knee Arthroplasty market:

  • Global total knee arthroplasty market is expected to exhibit a CAGR of 4.8% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global total knee arthroplasty market.
  • Among material type, the metal on plastic implant is anticipated to lead the market development over the forecast period. For instance, according to an article published on March 16, 2023 by Practice Plus Group Holdings Limited, one of England's largest independent providers of private, insured and National Health Service healthcare, metal-on-plastic implant is the most common type of knee implant preferred by the healthcare professionals. The femoral head is constructed of metal, whereas the socket is made of polyethylene (plastic). Cobalt-chromium, titanium, zirconium, or nickel are the most frequent metal components. The primary advantage of metal-on-plastic implants is that they are the simplest to manufacture. They also have a long life expectancy,while technological developments have lowered the risk.
  • Among region, North America region is anticipated to lead the market over the forecast period due to presence of key market players, technological innovations, and supportive government policies. For instance, in November 2021, OrthAlign, Inc., a privately held medical device and technology company based in the U.S., that provides advanced precision technologies to orthopedic surgeons, announced the complete market launch of Lantern. the latest in smart, surgical technology for total and partial knee replacement surgery. Lantern, a single-use, handheld smart tool that can be utilized across implant platforms and surgical philosophies, provides accurate, personalized alignment to any patient.
  • The major players operating in the global total knee arthroplasty market are Depuy Synthes, Zimmer Biomet Holdings, Inc., MicroPort Scientific Corporation, Conformis Inc., Corin Group, Exactech Inc., DJO LLC., Medacta International, Smith & Nephew plc, Stryker Corporation, Baumer SA, SurgTech Inc., Meril Life Sciences Pvt. Ltd., Total Joint Orthopedics, Allegra Orthopedics Limited, ConforMIS Inc, and Medacta Group S.A.

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