Knee replacement is a surgical procedure in which damaged parts of a knee joint are replaced by artificial parts. The surgical procedure is done by separating muscles and ligaments around the knee that may be damaged, and replacing it with a suitable fit for the knee joint to function effectively. The ends of the thigh bone (femur) and the shin bone (tibia) are removed as is often the underside of the kneecap (patella), and the artificial parts are then cemented into place. The new knee typically has a metal shell on the end of the femur, a metal and plastic trough on the tibia, and sometimes a plastic button in the kneecap.
Growth of the global knee implant market is primarily driven due to increasing cause of arthritis in senior aged population. In addition, availability of better implant materials is increasing the acceptance of knee implants, thus driving the growth of global knee implant market. Also, increasing awareness among the general population for knee implants is expected fuel growth of the global knee implant market during the forecast period.
However, despite being accepted globally, factors such as high cost, psychological beliefs, and availability of non-surgical options such as pain killers etc., are major factors hampering growth of the global knee implant market. Additionally, strict government regulations and laws for knee implant devices is expected to further hamper growth of the global knee implant market over the forecast period.
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The global knee implant market report has been segmented on the basis of procedure, implant material, implant component, and region.
North America dominates the global knee implant market in revenue terms and is projected to maintain its dominance over the forecast period. The market in Asia Pacific is expected to show relatively fast growth in the global knee implant market, owing to increasing awareness and presence of a high patient pool who are in need of this implants. The Asia Pacific market is anticipated to witness high revenue generation during the forecast period.
Key players in the global knee implant market are Aesculap Implant Systems LLC, CONMED Corporation, MicroPort Scientific Corporation, ConforMIS, Smith & Nephew Exactech, Inc., Medacta International, DePuy Synthes, and Zimmer Biomet.