The global knee reconstruction devices market is on a steady growth trajectory, projected to achieve a market valuation of USD 8.5 billion by 2023. With a moderate compound annual growth rate (CAGR) of 4.3% from 2023 to 2033, the market is expected to reach approximately USD 13.0 billion by the end of 2033.
The growth of the knee reconstruction devices market is driven by the increasing prevalence of knee-related conditions, advancements in medical technology, and a rising aging population. These factors contribute to the growing demand for effective knee reconstruction solutions, enhancing patient mobility and quality of life.
As healthcare providers and medical device manufacturers continue to innovate and improve knee reconstruction technologies, the market is set to expand, offering significant opportunities for stakeholders and improved outcomes for patients worldwide.
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One of the key developments in the market for knee reconstruction devices is the requirement for the progress of less invasive surgical techniques and materials. These developments aim to improve patient outcomes, reduce surgical complications, and shorten recovery times. Additionally, the industry is witnessing an increase in funding for patient-specific knee implants and robotics-assisted surgery, which enhance precision and customization in knee reconstruction procedures.
As the world’s population ages and leads more active lives, the market for knee reconstruction devices is predicted to grow, offering a significant opportunity for the medical device sector. When everything is said and done, the market for knee reconstruction devices should grow steadily as it continues to evolve in response to patient needs and the changing landscape of healthcare.
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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