According to the recent analysis of Reports and Data, the knee replacement implant market has acquired a market value of USD 10.50 Billion in 2020 and is expected to attain a value of USD 15.85 Billion dollars by the end of the forecast frame in 2028 growing at a CAGR of 5.3%. The knee replacement implant surgery is a surgical procedure which involves the replacement of the weight bearing part of the knee with an artificial substance known as an implant. These surgeries are commonly carried upon people with arthritis and other degenerative diseases. It is identified as one of the most effective mechanisms to relieve pain of patients. The use of 3D printing technology has been able to propel the market significantly within the forecasted period. The expenditure on health care in all the countries across the globe is another feature which was able to fuel the growth of the market. An era of highly functional implants has emerged owing technological advancements and aggressive research developments. Strategic mergers and acquisitions along with revolutionary product launches with aggressive marketing techniques are the primary strategies undertaken by the competitors.
The market is dominated by top brands who are able to sustain their market share by using innovative world class technology and aggressive promotional activities to spread medical awareness about their product.
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The pharma and healthcare industry is rapidly expanding in terms of revenue over the last few years and is expected to register significant revenue growth over the forecast period of 2028. Rapid advancements in the healthcare sector, rapid growth in the medical and healthcare sectors, availability of latest equipment and tools, rising healthcare expenditure and improvements in healthcare infrastructures are some key factors driving global market revenue growth. In addition to this, increasing investments in research and development activities, rising prevalence of various diseases and dearth of medications and hospitals during the ongoing COVID-19 pandemic are boosting market growth. Increasing number of funds by public and private sectors, rising adoption of point-of-care diagnosis and home settings, high demand for precision medicine and ongoing research on drug discovery are also expected to fuel market growth going ahead.
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The report sheds light on the competitive landscape of the global Knee Replacement Implants market and details about each market player, global position, financial standing, license agreement, and product and service portfolio along with business expansion plan. Major players are investing in research and development activities to develop and launch new products and services and are also focusing on adopting key strategies such as mergers and acquisitions, partnerships, joint ventures and collaborations to strengthen their market position and enhance their product base.
Leading companies operating in the global Knee Replacement Implants market include:
ZIMMER BIOMET, Stryker, DePuy Synthes, Smith Nephew Plc, Wright Medical Group, Conformis, B. Braun, Aesculap Implants Systems, OMNI life science, and Corin, among others.
Global Knee Replacement Implants market segmentation:
Procedure Type (Revenue, USD Million; 2020–2028)
- Total Knee Replacement
- Partial Knee Replacement
- Revision Knee Replacement
Material (Revenue, USD Million; 2020–2028)
- Stainless Steel
- Cobalt Chromium Alloys
- Titanium Alloys
Component (Revenue, USD Million; 2020–2028)
- Fixed Bearing Implants
- Mobile Bearing Implants
End Users (Revenue, USD Million; 2020–2028)
- Ambulatory Service Centres
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Regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- Rest of MEA
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