The global knee reconstruction devices market has a significant development potential and is expected to attain a USD 13.0 billion valuation by 2033. Based on its estimated 2023 value of USD 8.5 billion, this indicates a steady 4.3% Compound Annual Growth Rate (CAGR).
The growing demand for knee replacement and reconstruction surgeries is accompanied by a large expansion in the market for knee reconstruction devices. This increase can be attributed to a number of factors, including an aging population, an increase in knee injuries, and advancements in medical technology.
The category of knee reconstruction devices includes knee implants, tools, and surgical techniques. The goal of these products is to improve knee function and reduce knee discomfort. These devices are vital for improving the quality of life for people suffering from osteoarthritis and sports-related injuries. As long as the industry continues to thrive and provide consumers and medical professionals new options through innovation and research, it is projected that the market for knee reconstruction devices will grow steadily.
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The need for and advancement of minimally invasive surgical procedures and materials is one of the prominent trends in the market for knee reconstruction devices. The goals of these advancements are to enhance patient outcomes, decrease surgical complications, and minimize recovery periods. Furthermore, the industry is seeing a rise in investments in robotics-assisted surgery and patient-specific knee implants, which improve accuracy and personalization in knee reconstruction treatments.
The market for knee reconstruction devices is expected to remain strong as the world’s population ages and leads active lives, making it a potential area of the medical device industry. All things considered, the market for knee reconstruction devices is expected to rise steadily as it keeps developing in response to patient demands and the shifting healthcare environment.
Key Takeaways:
- The global market is estimated to capture a valuation of US$ 13.0 billion with a CAGR of 4.3% by 2033.
- In the historical period, the global market captured a CAGR of 2.8% between 2018 and 2022.
- The United States is estimated to dominate the global market by capturing a share of 29.5% by 2033.
- Germany is estimated to register a share of 8.1% in the global market during the forecast period.
- Japan is predicted to secure a share of 5.0% in the global market during the forecast period.
- With a CAGR of 4.4%, Australia is anticipated to drive the global market by 2033.
Competitive Landscape for the Knee Reconstruction Devices Market
There is a moderate market concentration in the knee reconstruction devices industry worldwide, with a few companies expected to account for most sales. Market leaders are putting more resources into Research and Development to create innovative products and gain approval from regulators more quickly to increase their knee reconstruction devices’ market share.
Recent Developments
As part of their work on a digital surgery platform that uses linked technologies, Johnson & Johnson Medical Devices Company (J&JMD) announced in January 2021 that the FDA had granted permission for their VELYS Robotic-assisted solution for use with their Attune Total Knee System.
Active Technologies received FDA clearance in March 2021 for its Citrespline and Citrelock ligament reconstruction devices, intended to prevent soft tissue damage during insertion. These devices can be used for reconstructive procedures on various joints, including the knee.
Furthermore, Conformis Inc. stated that its patient-specific iTotal PS total knee replacement system had been approved by the Therapeutic Goods Administration in Australia. This technology is intended to provide patients with reconstructive processes unique to their bodies.
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Key Companies Profiled:
- Zimmer, Inc.
- Stryker Corporation
- DePuy Synthes
- Smith & Nephew
- Corin
- United Orthopedic Corporation
- Arthrex Inc.
- Exactech Inc.
- DJO Global
- Japan Medical Dynamic Marketing
- Tornier Inc.
Knee Reconstruction Devices Market by Segmentation:
By Product:
- Cemented Implants
- Cementless Implants
- Partial Implants
- Revision Implants
By End User:
- Hospitals
- Orthopedic Clinics
- ASCs
By Indication:
- Osteoarthritis
- Rheumatoid Arthritis
- Trauma
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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