The global knee reconstruction devices market is forecast to grow at around 6% CAGR throughout the forecast period of 2021 to 2031.
Increasing demand for non-invasive surgery has been aiding the development of effective knee reconstruction procedures. Advancement in healthcare technologies in terms of surgical tools and procedures has positively influenced the market growth.
Market leaders are inclined towards developing cost-effective and portable devices. This will further increase the adoption of knee reconstruction devices, finds ESOMAR-certified consulting firm Future Market Insights in this study.
As per the Center of Orthopedic & Neurosurgical Care & Research, around 1 million hip and knee replacement surgeries are performed in the U.S. every year. It is the most common form of orthopedic surgery performed in the country.
Increasing cases of knee pains from chronic ailments especially in geriatric population across the globe will fuel the knee reconstruction devices market growth.
Development of highly precise and accurate surgical robots, capable of performing knee reconstruction surgeries without hampering the patient’s outcome will accelerate the adoption of knee reconstruction devices across the globe.
A slump in market growth was observed during pandemic as focus shifted away from elective medical processes to catering to the immediate medical emergency. Nonetheless, a steady recovery is on the cards as pandemic subsides and elective medical processes are given green light.
“Recent advancements in the field of surgical robotics along with integration of artificial intelligence in robotics have led to development of highly specialized surgical procedures. Such developments will fuel the knee reconstruction devices market growth,” as per a FMI analyst.
- Rising cases of joint reconstruction especially knee and hip joint reconstruction surgeries along with presence of solid healthcare system will boost the knee reconstruction devices market sales in the U.S.
- Growing geriatric population along with surge in sports related injuries in the U.K. will create lucrative market growth opportunities in the country.
- Rise in consumer spending habits on healthcare and increasing total knee arthroplasty cases in China will elevate the knee reconstruction devices market sales.
- Germany is anticipated to experience impressive growth in knee reconstruction devices market on the back of increasing demand for ACL reconstruction surgeries and adoption of femoral drilling techniques in knee reconstruction procedure.
- Cemented implants are easier to control in terms of occlusion. They also provide superior passive fits while eliminating screw access holes. The cemented implants are forecast to surpass the CAGR of 6% throughout the assessment period.
- Increasing demand for minimal invasive surgical operations is driving the knee reconstruction devices market sales.
- Rising prevalence of osteoarthritis in geriatric population is further fuelling the market demand.
- Introduction of robotic surgical procedures equipped with high accuracy operation capabilities will magnify the market growth.
- High purchasing cost of knee reconstruction device and need for associated services are restricting the market demand.
- Stringent regulatory policies by FDA and other similar bodies hinder the market growth.
- Increasing post surgery issues and problems with respect to bio-compatibility decelerates the market growth.
According to FMI, leading market players are heavily investing towards developing new products in accordance to regulatory national and international standards to expand their product portfolio. They are also looking towards quick approvals to strengthen their market position.
For instance, Johnson & Johnson Medical Devices Company launched the VELYS Robotic-assisted solution in January 2021. It is a FDA cleared knee reconstruction device developed to work alongside with the company’s Attune Total Knee System. They are part of a connected technologies digital surgery platform.
Acutive Technologies received its FDA clearance in March 2021 for its Citrespline and Citrelock ligament reconstruction devices. The products are developed to prevent damage to soft tissue during the insertion process.
Leading players profiled by FMI operating in knee reconstruction devices market include:
- Arthrex Inc.
- DePuy Synthes
- DJO Global
- Exatech Inc.
- Japan MDM Inc.
- Smith & Nephew Plc.
- Tornier Inc.
- United Orthopedics Corporation
- Zimmer Inc.
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More Insights on FMI’s Knee Reconstruction Devices Market
The latest market study on global knee reconstruction devices market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of
- Cemented Implants
- Cementless Implants
- Partial Implants
- Revision Implants
- Orthopedic Clinics
- Rheumatoid Arthritis
- North America (U.S. & Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru, & Rest of LATAM)
- Europe (Germany, U.K., France, Italy, Spain, BENELUX, Nordic, Russia, Poland, CIS Countries & Rest of Europe)
- Middle East and Africa (GCC Countries, Turkey, South Africa, Israel, & Rest of MEA)
- Asia Pacific excluding Japan (China, India, ASEAN, South Korea, Australia, & Rest of APEJ)