Global Total Knee Replacement Market value is expected to surpass by US$ 12 billion by 2028, finds Bekryl Market Analysts.
Rise in osteoarthritis related cases has created higher revenue opportunity for industry players. Such cases are predominantly higher among geriatrics population. On an average, patients with age group of 60-80 years have reported higher number of knee replacement cases. The targeted population is growing at an alarming rate of 1.7% – suggesting increase in demand for better healthcare facilities. Knee replacement will be one such condition that will be pertinent in the targeted population.
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Some key trends from the Global Total Knee Replacement market:
Trend#1: Total Knee Replacement Industry is characterized by Higher Consolidation – Zimmer Biomet Accounted for Highest Revenue Share in 2017
The industry is highly consolidated with top four players accounting for over 89% of global share. Stryker, Zimmer Biomet, Smith & Nephew and Depuy Synthes reported highest revenue from the sector in 2017. These companies are focused on product innovation and reported increase in net R&D spending in last two years. Also, these companies are strengthening their business reach in emerging regions to ensure long term market sustainability.
Trend#2: North America to Account for 47% of Global Share by 2028
In 2017, North America accounted for 51% global share, however, is set to register decline in its share owing to larger market penetration in Asia Pacific. Osteoarthritis is the most common joint problem in U.S. Symptomatic knee OA is prevalent in 10% men and 15% women aged 60 years and above. The region not only has larger targeted population pool but also better healthcare facilities – which in turn has boosted regional total knee replacement sales.
Trend#3: Partial Knee Replacement Accounted for over Half of the Global Share
Partial knee replacement is estimated to account for over half of the global share in 2018. Short hospital stay and lower cost are key factors driving the partial knee replacement market globally. The procedure costs 15% lower than total knee replacement. Advanced technology including robotic assisted technology is expected to boost overall market in near future.
Explore Key Strategic Insights and TOC on Total Knee Replacement Market: https://bekryl.com/industry-trends/total-knee-replacement-market-share-analysis
Some key global Total Knee Replacement Market Players are
- Zimmer Biomet
- Stryker Corporation
- DePuy Synthes Companies
- Smith & Nephew
- DJO Global
- Microport Scientific
- B. Braun
Report covers Revenue Analysis by:
- Primary Knee Systems
- Partial Knee Systems
- Revision Knee Systems
- Cobalt Chromium Alloys
- Titanium Alloys
- Robotic Assisted Devices
By Distribution Channel:
- Ambulatory Surgical Centers
- Specialty Clinics
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Brief Research Methodology:
Bekryl Market Analysts is a global market research and consulting service firm that helps industry stakeholders to take smarter decisions and achieve remarkable growth in today’s disruptive business environment. We bring together data, leader’s opinion and analytical service to help client define their growth strategy ranging from mergers and acquisitions based strategic decisions to finding market opportunity in business verticals namely chemicals, food & beverages, automotive, electronics and industrial production.
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