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Knee Reconstruction Devices Market

Market Study on Knee Reconstruction Devices: PMR Foresees Various Opportunities in the Coming Years, Given the Burgeoning Old-age Population, and the Rising Prevalence of Knee-associated Musculoskeletal Disorders Like Osteoarthritis and Rheumatoid Arthritis

A Detailed Analysis of the Knee Reconstruction Devices Market Based on Growing Technological Advancements, and New Surgical Product Launches

Knee Reconstruction Devices Market

The global knee reconstruction devices market is forecast to expand at a CAGR of 4.8% and thereby increase from a value of US$1.6 Bn in 2023, to US$2.2 Bn by the end of 2030.

Attributes

Key Insights

Knee Reconstruction Devices Market Size (2023E)

US$1.6 Bn

Projected Market Value (2030F)

US$2.2 bn

Global Market Growth Rate (CAGR 2023 to 2030)

4.8%

Historical Market Growth Rate (CAGR 2018 to 2022)

3.6%

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Market Introduction and Definition

The stabilization of the tibial ligament, a crucial aspect of knee reconstruction, often involves repositioning during the procedure. This ligament tear can impact bodily functions, making certain activities more challenging. Knee reconstruction procedures typically utilize instruments such as cementless implants, partial implants, revision implants, and cemented implants. The reconstructive knee devices market is anticipated to witness growth driven by the increasing incidence of knee injuries. The aging population, experiencing a rise in knee-related conditions like osteoarthritis, and rheumatoid arthritis, contributes to the market's expansion.

The global knee reconstruction devices market is experiencing rapid growth, propelled by continuous innovations in product design and functionality. Market participants in knee reconstruction devices have capitalized on the prevalence of conditions such as arthritis and knee discomfort. Additionally, regulatory authorities worldwide have eased approvals, facilitating improved market access for these devices.

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Market Growth Drivers

Aging Population, and Increasing Prevalence of Knee-related Disorders

The increasing prevalence of knee-related disorders, particularly arthritis and osteoarthritis, within the aging population is a key driver for the growth of the knee reconstruction devices market. Projections from the World Health Organization (WHO) indicate that by 2030, one in every six individuals will be over 60 years old. In the United States, as reported by the Centers for Disease Control and Prevention (CDC), approximately 58.5 million people suffer from arthritis, with 32.5 million adults affected by osteoarthritis. Favorable demographic trends, coupled with the adoption of technological advancements and supportive reimbursement policies, contribute to the expansion of the knee reconstruction devices market.

The global appeal of medical tourism for knee reconstruction surgeries has grown, with many countries offering high-quality treatment at affordable rates. Total joint replacement using artificial knee implants is recognized as a reliable and effective treatment method, significantly enhancing the performance and quality of life for patients worldwide. The rising prevalence of knee pain, often attributed to musculoskeletal diseases like osteoarthritis, is expected to drive substantial demand for knee reconstruction surgeries in the foreseeable future.

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Market Restraints

High Costs Associated with Procedures and Devices

The knee reconstruction devices market faces impediments to its growth, including the high costs associated with procedures and devices, limited reimbursement coverage for knee reconstruction surgeries, and stringent regulatory requirements with lengthy approval processes for new devices. Additionally, the market is constrained by a shortage of skilled healthcare professionals specializing in knee reconstruction procedures, potential risks and complications associated with such surgeries, and restricted access to healthcare facilities, particularly in rural and underdeveloped regions.

The growing preference for non-surgical or conservative treatment options for knee conditions further hampers market expansion. Challenges in post-operative rehabilitation and recovery for patients, as well as product recalls or safety concerns related to knee reconstruction devices, act as additional barriers to market growth.

Expensive Orthopedic Procedures

One major market constraint is the high cost of knee reconstructive treatments. This cost includes several factors such as the costs related to surgery, device implantation, and recovery after surgery. Significant costs are frequently associated with knee reconstruction procedures, including preoperative consultations, surgery fees, hospital stays, anaesthetic costs, and rehabilitation expenditures. Patients may also be reluctant to have these treatments done because they are worried about the cost. Co-payments, deductibles, and out-of-pocket costs can be high even with insurance coverage.

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Opportunities

Increased Funding for R&D, and Government Investments in Healthcare Infrastructure

Increased funding for research and development in knee reconstruction surgery aims to enhance performance, reduce incisions, and minimize complications. The availability of advanced devices and treatments instills confidence among both healthcare professionals and patients, contributing to the expected expansion of the knee reconstruction devices market in the coming years. The growing incidence of knee injuries and the subsequent demand for reconstruction procedures are key drivers of growth in the global knee reconstruction devices market.

Simultaneously, government investments in healthcare infrastructure have significantly propelled the adoption of knee reconstructive technologies within healthcare systems worldwide. However, industry manufacturers face various challenges that could potentially impede the long-term progress of the knee reconstruction devices market.

Analyst’s Viewpoint

The knee reconstruction devices market is anticipated to undergo substantial expansion and change. Despite being a highly successful orthopedic surgical technique, joint reconstruction surgery is not without concerns, particularly regarding postoperative complications following joint replacement procedures. These complications can lead to severe issues, including the possibility of limb amputation or fusion. In joint reconstruction surgeries, the prostheses employed are susceptible to attracting bacteria, potentially leading to the formation and colonization of biofilms. Consequently, manufacturers are placing significant emphasis on advancing implant technology with antimicrobial surfaces. The aim is to prevent bacterial attachment, thereby reducing the occurrence of post-surgical difficulties.

Supply-side Dynamics

Several factors, including the rising prevalence of orthopedic disorders, expanding patient pool, and increased prevalence of lifestyle-related illnesses, all contribute to the dynamic and rapid expansion of the global Knee Reconstruction Devices market. Zimmer, Inc., Stryker Corporation, DePuy Synthes, Smith & Nephew, and Corin are market leaders in the manufacturing sector. The countries of Germany, Japan, China, France, and the US are significant producers of various goods. Approximately half of the American population is projected to experience knee osteoarthritis at some point in their lives. Anticipated data for 2033 suggests a significant surge in knee replacement surgeries, with an expected 3.5 million procedures, marking a substantial 670 percent increase from current numbers.

The treatment of musculoskeletal pain through knee reconstruction devices remains a crucial aspect. The sustained involvement of major manufacturers in the country is poised to contribute to long-term growth in this sector. Several corporations focus strongly on inventing or implementing new devices to reconstruct the knee, growing obesity. It is anticipated that these expansions will substantially alter the dynamics of the market, resulting in heightened competition, reduced prices, and an influx of innovative products.

Market Segmentation

Which Product Type is Expected to Spearhead?

Cemented Implants Continue to Lead as Demand for Knee Reconstruction Procedures Soars

The growth of the primary cemented segment is driven by the long-standing clinical success and established track record of primary cemented implants. Key factors contributing to this growth include the high stability and immediate weight-bearing capability offered by cement fixation. Additionally, favorable outcomes and high patient satisfaction associated with primary cemented implants, coupled with the increasing demand for knee reconstruction procedures in aging populations, further accelerate the growth rate of the primary cemented segment in the global market.

Which Indication Will Be Targeted the Most for Installations?

“Highest Percent Share Attributed To Osteoarthritis Owing To Increase In The Number Of Patients With Osteoporosis Disorders”

According to data published by the Arthritis Foundation in 2020, an estimated 14 million people in the U.S. were reported to have symptomatic knee osteoarthritis. Additionally, the European Journal of Rheumatology indicated that in 2020, around 200 million people suffered from osteoporosis disorder, with 30% being women in the U.S. and Europe. Consequently, the increase in the number of patients with osteoporosis disorders has resulted in a heightened demand for knee replacement surgery, serving as a significant driver for market growth.

Which is the Dominant End User Segment?

Hospitals Remain at the Forefront

The hospital segment emerged as a dominant player in the market, primarily driven by the availability of advanced facilities and the continuous growth of healthcare infrastructure within hospitals. The hospital segment is expected to maintain its leading position in the coming years, fueled by an increasing number of orthopedic surgeries conducted in hospitals and a rising influx of patients seeking medical attention for orthopedic injuries.

Top Regional Markets

Surging TKAs in the US to Secure Top Rank for North America

In the US, the increasing prevalence of obesity has resulted in a higher number of total knee arthroplasties (TKAs) being performed on individuals with elevated body mass indices (BMIs). According to a 2020 CDC report, the age-adjusted prevalence of obesity among adults was 42.4% in 2017–2018, with the highest prevalence observed in adults aged 40-59 compared to other age groups.

Additionally, the rising incidence of musculoskeletal issues such as arthritis and psoriatic arthritis could contribute to an increased demand for knee reconstruction procedures in the region, consequently driving the growth of the knee reconstruction/replacement devices market. For example, data from the National Psoriasis Foundation/USA in 2021 indicates that over eight million Americans have psoriasis and approximately 30% of individuals with psoriasis also develop psoriatic arthritis.

Asia Pacific to Reap Benefit from Mounting Knee Replacement Surgeries

The Asia Pacific region exhibits the most rapid growth rate in the market for knee reconstruction devices. The growth of knee reconstruction and replacement devices in the Asia Pacific region can be attributed to several factors. These include the ongoing improvement in healthcare infrastructure, a rise in per capita healthcare expenditure, increasing disposable income, a growing elderly population, a rise in musculoskeletal disorders, and a high prevalence of obesity among the Asian population.

The latter is particularly noteworthy, as overweight, and obese individuals are at an elevated risk of requiring knee replacement surgery compared to those with normal weight. According to the Organisation for Economic Cooperation and Development (OECD) 2021 data, the obesity rates among children and adolescents in the Asia Pacific region vary, with New Zealand having the highest rate at 16.3%, followed by 14.1% in Brunei Darussalam, and the lowest rates at 1.7% and 2.0% in Nepal, and India, respectively.

Competitive Intelligence and Business Strategy

Prominent organizations, including Zimmer, Inc., Stryker Corporation, and DePuy Synthes, are at the vanguard of this sector, providing inventive solutions by capitalizing on their technological prowess and vast experience in the automotive industry. Organizations operating within this sector prioritize technological advancements, strategic alliances, and user experience improvement. These key players are expected to maintain their leadership in the knee arthroplasty sector and achieve substantial revenue growth in the years to come. This is attributed to their ongoing investments in research and development aimed at introducing cost-effective and innovative knee implants.

Additionally, a concerted effort in forming strategic partnerships with other stakeholders in the knee implants segment is poised to facilitate the expansion of their market presence. To distinguish themselves in this highly competitive market, these businesses strive to differentiate their products. They achieve this by providing distinctive attributes, enhanced precision, and tailored solutions to meet diverse customer needs in the field of knee reconstruction.

Key Recent Developments

New Product Launch

In May 2020, Smith and Nephew introduced the JOURNEY II Unicompartmental Knee (UK) System. The JOURNEY II UK System offers a highly individualized approach to partial knee arthroplasty, utilizing a modular, two-tray configuration.

Market Impact: This innovative method caters to particular patient needs by using a modular, two-tray architecture and a highly personalized approach to partial knee arthroplasty. The JOURNEY II UK System's cutting-edge features and design might draw in surgeons and healthcare facilities, boosting acceptance and possibly growing Smith+Nephew's market share in the knee reconstruction devices industry.

(Source: Smith+Nephew)

In March 2023, Stryker unveiled its Mako Total Knee 2.0 surgical robotics platform at the American Academy of Orthopaedic Surgeons (AAOS) 2023 annual meeting in Las Vegas. The platform includes a digital tensioner, representing one of the new features that enable intraoperative assessment of knee stability during total knee arthroplasty without the need for additional instrumentation.

Market Impact: The precision and capability of total knee arthroplasty procedures are improved by the incorporation of novel technologies such as the digital tensioner, which enables intraoperative evaluation of knee stability without the need for extra instrumentation. The advanced capabilities of the Mako Total Knee 2.0 platform might be attractive to surgeons and other medical professionals, which might boost adoption and help Stryker become a more significant player in the market for knee reconstruction devices.

(Source: Stryker)

Knee Reconstruction Devices Market Report Scope

Attribute

Details

Forecast Period

2023 to 2030

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • The Middle East & Africa  

Key Countries Covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa  

Key Market Segments Covered

  • Product
  • Indication
  • End-user
  • Region

Key Companies Profiled

  • Zimmer, Inc.
  • Stryker Corporation
  • DePuy Synthes
  • Smith & Nephew
  • Corin
  • United Orthopedic Corporation
  • Arthrex Inc.
  • Exactech Inc.
  • DJO Global
  • Japan Medical Dynamic Marketing
  • Tornier Inc.
  • B. Braun Melsungen AG,
  •  Medacta International SA
  • LimaCorporate SpA
  • MicroPort Scientific Corp
  • Waldemar Link GmbH & Co KG

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives  

Customization & Pricing

Available upon request

Knee Reconstruction Devices Market Research Segmentation

By Product:

  • Cemented Implants
  • Cementless Implants
  • Partial Implants
  • Revision Implants

By Indication:

  • Osteoarthritis
  • Rheumatoid Arthritis
  • Trauma
  • Others

By End-user:

  • Hospitals
  • Orthopedic Clinics
  • ASCs

By Region:

  • North America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Latin America
  • Middle East & Africa

- Companies Covered in This Report -

  • Zimmer, Inc.
  • Stryker Corporation
  • DePuy Synthes
  • Smith & Nephew
  • Corin
  • United Orthopedic Corporation
  • Arthrex Inc.
  • Exactech Inc.
  • DJO Global
  • Japan Medical Dynamic Marketing
  • Tornier Inc.
  • B. Braun Melsungen AG,
  •  Medacta International SA
  • LimaCorporate SpA
  • MicroPort Scientific Corp
  • Waldemar Link GmbH & Co KG

- Frequently Asked Questions -

The market is anticipated to grow at a CAGR of 4.8% during the projected period.

The knee reconstruction devices market was valued at US$1.6 billion in 2023.

The US held the largest market share in 2023.

Some of the prominent players in the market are Zimmer, Inc., Stryker Corporation, DePuy Synthes, Smith & Nephew, and Corin.

The cemented implants segment is expected to grow at the fastest CAGR during the forecast period.

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