According to a new report published by KD Market Insights, titled, “Knee Replacement Implants Market Insights, Trends, Opportunity & Forecast, 2023–2032,” the global knee replacement implants market size is anticipated to witness moderate growth during the forecast period i.e., 2023-2032. the rising incidence of knee related conditions advancements, in materials and design the expansion of healthcare infrastructure in developing regions and an increasing focus, on patient centric care and personalized treatment which are the major factors augmenting the growth of the global knee replacement implants market. The global knee replacement implants market is anticipated to grow at a high CAGR of 5.3% from 2023 to 2032. The market's revenue surged to $9.2 billion in 2022, and it is expected to further accelerate, reaching a notable $15.4 billion by 2032.
The increasing occurrence of knee related conditions, such, as osteoarthritis and rheumatoid arthritis among the aging population, are further expected to create ample growth opportunities for the global knee replacement implants market during the forecast period i.e., 2023-2032. Moreover, rising popularity of surgical techniques, which offer shorter recovery times and better patient outcomes, has propelled market expansion. Healthcare systems are investing in equipment and expertise to meet the growing demand for knee replacement surgeries. Increased healthcare spending and insurance coverage for these procedures, is expected to contribute towards the market growth during the period.
The North America region accounted for the largest share in the global knee replacement implants market in 2022. The region is further projected to continue dominating in the market during the forecast period. This can be attributed to the increasing prevalence of knee-related disorders, along with the growing adoption of minimally invasive surgical procedures.
According to procedure type, the total knee replacement segment accounted for the largest market share in the knee replacement implants market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
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The global knee replacement implants market is segmented into procedure type, implant type, end-users and region. Based on procedure type, the market is total knee replacement, partial knee replacement, revision knee replacement. Based on implant type, it is classified into fixed bearing, mobile bearing, others. Based on end-users, it is classified into hospitals, orthopedic clinics, ambulatory surgery centers.
The global knee replacement implants market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Knee Replacement Implants Market
· On the basis of procedure type, the total knee replacement segment accounted for the largest market share in the knee replacement implants market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
· On the basis of region, North America accounted for the largest share in the global knee replacement implants market in 2022. The region is further projected to continue dominating in the market during the forecast period.
· On the basis of region, Europe is estimated to account for the second largest share in the market during the forecast period.
Some of the major knee replacement implants companies profiled in the report include Exactech, Medacta International, Aesculap Inc (B Braun Company), CONMED, MicroPort Scientific, DePuy Synthes (J&J), Stryker, Smith and Nephew, Zimmer Biomet, ConforMis.
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