The global knee implants market is anticipated to progress at a considerable rate owing to aging-related diseases such as diabetes, obesity, osteoporosis & arthritis, along with the aging population and injuries related to sports. Knee implant is practiced widely owing to its characteristic of relieving the pain and assists patrons live a fuller, and more active life. The evolving market has been undergoing a period of gradual technological and new product advancements due to growing demand. The manufacturing companies are elevating their corresponding business share owing to growing responsiveness among people, with the aid of aggressive marketing activities.
The implantation is performed when a patient suffers from knee pain, disability from rheumatoid arthritis, or osteoarthritis or a traumatic injury. The artificial device is implanted and replaced with the damaged knees by the surgeon. There are various types of implants that are equipped by means of strong plastic parts, metal alloys or ceramic material. Artificial joints comprise of three constituents such as patellar component (plastic), a femoral component (metal) and tibial component (metal and plastic). Metal components include cobalt-chromium based alloys or titanium. These materials have been accredited for their firm chemical properties they possess such that they do not interact with the body and are durable.
However, in occasional circumstances, patients may experience allergies to certain metals, which play a major role in determining the surgery device being used. Recipients can have a total or a partial knee replacement. The alteration is subjected to recipient’s state whether they are able to work and perform their daily activities and pain level. Partial replacement surgery has also been gaining relevance in the recent years whereby a part of the bone in the joint is replaced. Manufacturers have been producing various medical devices to create variations of devices, to address both surgical options and thereby aid the surgeon in deciding if a total or partial replacement is appropriate for the patient.
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Technical developments in knee implant surgery segment have conveyed negligible painful surgery techniques and have thereby made it possible to perform surgeries with the help of minor incisions, lesser tissue injuries, lower blood loss and faster recovery time, ensuring reliability and safety. Manufacturers, such as Biomet and Zimmer trade artificial knees as gender-specific or different for men contrasted with women. Companies claim that these prostheses justify and adjust for functional differences between the male and female.
The economic slowdown is expected to pose a challenge to market growth owing to which, the hospitals have begun reducing their operational costs. Moreover, the high cost involved in the implantation surgery has been acting as a hindrance for the patients. Rising number of OEMs in the industry and growing awareness of non-surgical methods such as walking aids, exercises, shoe inserts, weight loss and pain killer medicines are some of the challenges of the industry.
Failure to bond correctly to the bone is one of the most common problems. This can lead to pain and additional surgery. However, even the slightest defect in manufacturing or tiniest error on the part of a surgeon can lead to severe problems. Serious complications, such as a joint infection, occur in fewer patients. A bacterium is a common cause of infection post replacement surgery that enters the bloodstream by urinary tract infections, dental procedures or skin infections. However, the complication rate is low in case of replacement.
The technologies such as 3D printed implants are being endorsed in the global business. Due to intense competition among manufacturers on prices, the business is getting affected. However, new technological advancements such as better implant materials, minimally invasive surgery and better success rates with the younger population opting for it, is expected to contribute significantly to business growth.
The major business players are B. Braun, Depuy, Stryker, Smith and Nephew, Pfizer, Zimmer. Zimmer is one of the prominent business players in the industry. It proposes surgeons a wide-ranging suite of unique and innovative instruments, implants and associated biologics. From the Personalized to partial knee systems, these medical devices help the surgeons to generate personalized resolutions for arthroplasty, depending on patient’s condition.
Stryker offers a fixed bearing system, Stryker Triathlon Total Knee Replacement System which is designed to work with the body to promote easier motion. Biomet has launched a new product, which accommodates the anatomy of the individual and is used for both men and women. It offers a high degree of inflection. North America and Europe hold the maximum trade share followed by Asia Pacific. Growing awareness among people and an aging population are some the reasons Asia Pacific’s market is expected to grow in the next seven years.
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Procedure Type Outlook (Revenue, USD Million, 2013 – 2024)
• Total knee replacement
• Partial knee replacement
• Revision knee replacement
Component Type Outlook (Revenue, USD Million, 2013 – 2024)
• Fixed-bearing Implants
• Mobile-bearing Implants
Regional Outlook (Revenue, USD Million, 2013 – 2024)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
• South Africa
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