According to Renub Research, Global Knee Replacement Market is projected to cross US$ 13 Billion by the end of year 2024. The growth of the knee replacement market is mainly contributed by the rising geriatric population, advancement in the treatment of rheumatic condition such as rheumatoid arthritis, osteoarthritis and post-traumatic arthritis. In addition; rising investment in healthcare, advancement in technology and demand for less invasive surgical procedures also help knee replacement market to attain this significant glory. In contrast, the strong regulatory procedures in obtaining the approval for medical devices are somehow anticipated to slow down the growth of knee replacement market.
What is Knee Replacement?
Knee Replacement, sometimes also referred as Knee Arthroplasty, is a surgical procedure of resurfacing a damaged knee due to arthritis or injury. In knee replacement basically metal or plastic parts are being used to cap the ends of knee bones at the knee joint, along with the kneecap. Knee replacement is considered to be as one of the best solution for whom suffering severe arthritis or having a major knee injury.
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Different Types of Knee Replacement
Total Knee Replacement
Total Knee Replacement usually involves the replacement of both ends of the joint surfaces, i.e. the end of thigh bone (femur) and at the top of shin bone (tibia) along with the replacement of the under-surface of kneecap (patella) with a smooth plastic head. However, surgeons try to preserve the natural kneecap, if possible.
Partial Knee Replacement
Partial Knee Replacement is also known as unicompartmental knee replacement. Knee joint consists of three compartments namely; the inner (medial), the outer (lateral) and the kneecap (patella). Partial knee replacement is performed when any one of the compartments (generally the inner side) is damaged. Partial knee replacement is less invasive than that of total knee replacement, which means a person will recover quicker.
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Revision Knee Replacement
Revision knee replacement procedure is more complex than total knee replacement procedures because the surgeon removes the original implant, which would have grown into the existing bone. The revision knee replacement generally has a longer stem because of the removal of previous prosthesis. During revision knee replacement, extra pieces of metal or plastic components may be required to make up for any removed or damaged bone.
Increasing Demand for Knee Replacement
The demand of total knee replacement is anticipated to grow 673 percent from 2005 to 2030. In the United States, Medicare pays nearly 60 percent of total joint arthroplasties. It is believed that with increasing total knee replacement cases, evaluating technological advancements and proper reimbursement, knee replacement market will certainly thrive in the coming years.
Advantages of Knee Replacement
Knee replacement offers the greatest improvement in patient’s quality life, in order to perform their everyday activities. A total knee replacement can increase patient’s mobility and decrease their pain, having arthritic knee or have had a knee injury. After the knee replacement, almost each patient has experienced less pain and super mobility than earlier.
Key Topics Covered:
1. Executive Summary
2. Global Knee Replacement Market
3. Market Share – Global Knee Replacement (2011 – 2024)
4. Companies Share – Knee Replacement
5. By Product – Global Knee Replacement Market
6. By Region – Global Knee Replacement Market
7. Zimmer Biomet Holdings Inc. – Companies Analysis
8. Stryker Corporation – Company Analysis
9. Smith & Nephew PLC – Company Analysis
10. Johnson & Johnson – Company Analysis
11. Growth Drivers of Knee Replacement Market
12. Challenges faced by Knee Replacement Market
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