The global artificial knee implant market is anticipated to expand at a stellar growth rate in the forthcoming years, according to a report on Radiant Insights, Inc. The market growth can be attributed to preference for minimally invasive surgeries (MIS), prevalence of arthritis, and growing geriatric populace. Introduction of advanced technologies and products is expected to augment market in the near future.
The utilization of pain alleviating treatments due to rise in comorbidities such as diabetes and obesity can bolster market growth. Increasing investments in the healthcare sector and untapped opportunities in India and China are expected to bode well for the market. Insurance policies covering surgical procedures can augur market growth in the forthcoming years. Moreover, considerable demand for knee reconstruction surgeries due to musculoskeletal diseases such as osteoarthritis can positively impact the artificial knee implant market.
Browse the Full Global Artificial Knee Implant Market - Global Scenario, Industry Outlook, Analysis, Size, Trends and Forecast to 2022 Report at - https://www.radiantinsights.com/research/global-artificial-knee-implant-market-research-report-2018
Personalized solutions, adoption of 3D printing, and robotic assistance are avenues expected to impel the market in the forthcoming years. This is exemplified by the 100,000th successful surgery by the Mako Robotic-Arm Assisted Technology by Stryker Orthopedics in 2017 and development of the X3 knee insert by the same. However, rise in product recalls and strict regulations pertaining to product approval can impede market growth.
Regions covered in the market report include North America, Asia Pacific (APAC), and Europe. The North America artificial knee implant market is expected to reign in the forthcoming years due to surplus of skilled surgeons. In addition, supportive reimbursement policies, prevalence of bone diseases, and increasing geriatric consumer base can bolster regional market growth. Access to advanced implants and establishment of sophisticated healthcare infrastructure can provide an impetus to global market.
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The artificial knee implant market is segmented according to procedure, component, and region. By procedure, the market is divided into total, partial, and revision knee replacement. By component, the market is segregated into fixed-bearing and mobile-bearing implants.
The APAC market is anticipated to exhibit a robust growth rate due to implementation of knee implants in surgeries. Rise of medical tourism in India and China can provide an impetus to market demand in the forthcoming years. In addition, the price caps announced on knee implants by the National Pharmaceutical Pricing Authority (NPAA) can lower the price of surgeries and bolster market growth. Use of 3D printing and alternative metals to create sustainable knee implants in China can also pave the way for new opportunities in the artificial knee implant market.
The Europe market is expected to register impressive growth due to availability of advanced surgical procedures and continuous innovation of products. Rise in geriatric populace and emergence of robotic surgery to improve surgical outcomes can augment market growth in the forthcoming years. In addition, the approval of a novel procedure named autologous chondrocyte implantation by the National Institute for Health and Care Excellence (NICE) in 2017 can bring relief to patients. Nearly 95,000 knee replacement surgeries are performed annually in the U.K. providing growth opportunities for implant manufacturers.
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Key market players include Zimmer Biomet Holdings, Inc.; Wright Medical Group N.V.; Stryker Corporation; Smith & Nephew plc; and B. Braun Melsungen AG. The artificial knee implant market is competitive and marked by mergers and acquisitions. For instance, Zimmer Biomet acquired Cayenne Medical, a prime manufacturer of soft tissue repair and reconstruction solutions, in 2016. Companies are also focusing on launching innovative products to expand their product portfolio and expand their presence.
About Radiant Insights, Inc
Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
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