The global knee reconstruction devices market is poised for steady growth, with a projected market valuation of USD 8.5 billion by the end of 2023. According to the latest industry insights, the market is expected to expand at a moderate Compound Annual Growth Rate (CAGR) of 4.3% from 2023 to 2033, ultimately reaching approximately USD 13.0 billion by 2033.
Innovative and effective knee repair methods and gadgets have been made possible by the rapid development of healthcare technology in recent years. Market shifts are also being driven by rising demand for minimally invasive procedures. Surgical procedure and instrument advancements have had a major impact on the current knee reconstruction devices industry.
The demand for knee reconstruction devices is expected to rise because of technological improvements and the rising prevalence of orthopedic disorders leading to an increase in surgeries. The expanding patient pool and increased prevalence of lifestyle-related illnesses are also contributing to the knee reconstruction devices market’s expansion. It has been determined that the reconstruction of the hip or knee is not an emergency during the current COVID-19 pandemic.
As the number of companies producing knee reconstructive devices continues to grow, competition in the industry is heating up. Companies also plan to pour resources into R&D for new and improved products to remain competitive. The knee reconstruction devices industry is making larger bets on emerging technologies like 3D printing.
Key Highlights:
- Market Expansion Driven by Increasing Knee Injuries and Aging Populations
The rising prevalence of knee injuries and disorders, particularly in the aging global population, is a significant driver of market growth. As the number of people with osteoarthritis, sports-related knee injuries, and other joint issues increases, the demand for knee reconstruction devices, such as total knee replacements and partial knee replacements, continues to rise. - Technological Advancements in Knee Reconstruction
Innovations in knee reconstruction technologies, such as 3D-printed implants, minimally invasive surgical techniques, and customized knee prostheses, are enhancing patient outcomes and driving the adoption of advanced knee reconstruction devices. These technologies are expected to fuel further market growth. - Expanding Healthcare Infrastructure
Improved healthcare infrastructure, especially in developing countries, is facilitating access to knee reconstruction treatments. Additionally, government healthcare policies and insurance coverage for orthopedic surgeries are contributing to increased adoption of knee reconstruction devices globally. - Surge in Sports and Physical Activity-Related Injuries
With the rise in sports participation and physical activities worldwide, knee injuries are becoming more common, further boosting the demand for knee reconstruction devices. Athletes and active individuals seeking recovery options for knee-related issues are anticipated to drive the market forward. - Growing Popularity of Minimally Invasive Procedures
The increasing preference for minimally invasive knee surgeries, which offer quicker recovery times and reduced complications, is a key trend that is shaping the knee reconstruction devices market. These procedures are expected to become more widespread, contributing to overall market growth.
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.
The Next Generation Of Joint Replacement Safety
Joint replacement surgeries are now safer and last longer than ever before because of the widespread adoption of 3D printing.
Greater than a million people in the United States alone have total joint replacements done each year. The aging of the population and the subsequent decrease in the average age at which these procedures are performed contribute to this rising trend. By the year 2030, it is expected that four million Americans are expected to have joint replacement surgery yearly.
Replacement of a damaged joint is the best option for people with advanced arthritis in terms of both cost and clinical outcomes, but it is not without its drawbacks. Whether or not a patient experiences any post-operative joint pain, how well the replacement common functions, and how long it lasts can all be affected by seemingly minor differences in implant placement and fit.
Computer modeling software and 3D printing are being used for the first time by surgeons in Yale’s Department of Orthopaedics and Rehabilitation to better prepare for and carry out joint replacements. The devices help older people recover more quickly and safely and improve outcomes.
As the technology progresses, global knee reconstruction devices market players are adopting new trends to change the outlook.
A novel AI-based solution for 3D Reconstruction of knees from X-ray images was recently announced by RSIP Vision, a developer of AI and computer vision technologies. This technology offers doctors an in-depth 3D model of each bone, which can be used for pre-operative planning and implant sizing.
It is expected to streamline doctors’ procedures and reduce unnecessary expenses and radiation exposure. The doctors are likely to have a highly accurate 3D anatomical model of the patient’s knee for pre-operative planning and customizing the implant.
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)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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