Global Total Knee Replacement Market Size Analysis, 2018-2028

REPORT ID: BKR802 Domain: Medical Devices Published Date: August 2018

 

 

Global Total Knee Replacement Market Size is estimated to be valued over USD 7.7 billion in 2018.

Generally, patients with severe knee destruction and associated pain are considered as ideal patients for surgical procedure. Demand for total knee replacement procedure has increased in last few years with rise in osteoarthritis. While the industry is set to register substantial CAGR of 2.7%, the revenue opportunity will almost double by 2025 – creating pool of opportunity for leading players.

total knee replacement market is set to grow over 1.3X to create high revenue opportunity for industry players. The industry is highly concentrated with major players having well established presence in developed economies. Zimmer Biomet accounted for the largest market share. Smith & Nephew total knee replacement market share was close to 12.6% in 2017. Key players will focus on Asia Pacific to tap the growing market especially the South East Asia region.

Growing geriatrics population will further act as a key driving factor for overall sales. Average age of people undergoing knee replacement are aged between 60 and 80. Geriatric population is increasing at an alarming rate of 1.7%. Healthcare cost will substantially rise owing to aging. Knee replacement will be one such condition that will be pertinent in the targeted population.

The Industry is Highly Consolidated with Zimmer Biomet Accounting for Largest Revenue Share

Total knee replacement market share is highly consolidated with top four players accounting for 89% of global share. Zimmer Biomet, Stryker, Depuy Synthes and Smith & Nephew reported highest revenue from the sector in 2017. These companies are investing heavily on product development and distribution reach. For instance, Smith & Nephew expanded its business footprint in emerging markets including GCC and Central Eastern Europe in 2017. Similar such trends were noticed in last five years.

Global Total Knee Replacement Market Size Analysis, By Product

By product, partial knee replacement accounted for over half of the global share in 2017. Lower operational cost and short hospital stay has are key factors favoring the partial knee replacement worldwide. On an average, it costs 15% lower than total knee replacement. Advanced technology including robotic assisted technology is expected to boost overall market during the forecast period.

While partial knee replacement is expected to continue to register impressive growth, the procedure requires high level of precision. Even a millimeter of rotation could affect the wear patterns and could severely affect the component longevity. As such, various healthcare personnel are actively leveraging advanced technology to ensure high success rate. This includes usage of robotic arm to precisely shape the surrounding bone before placing implants. Leading companies have already started focusing on robotics technology to ensure long term business sustainability. For instance, in 2017, Stryker           launched commercial usage of its robotic assisted knee replacement. Similar move was seen with Smith & Nephew. The company announced the launch of first robotic assisted bicruciate retaining total knee replacements. The industry is set to be competitive with emergence of newer technologies during the forecast period.

Global Total Knee Replacement Market Size Analysis, By Applications

By applications, total knee replacement will find its maximum placement in femur bones. It will account for over 53% of global share by 2028. Placement in femoral bones offers higher movement flexibility. Many manufacturers offers custom implants to meet patient requirement. There are over 130 designs available in the market that can be placed at lower end of femur.

Global Total Knee Replacement Market Size Analysis, By Component

As of 2017, implants accounted for the majority of the global share. Implants finds its usage in all the replacement purpose. As such, knee implant market will continue to grow during the forecast period. Metallic implants accounted for the highest share. Titanium alloys is gaining higher traction as knee replacement implants. Its corrosion resistance and lower density properties make it ideal metal for knee implants.

Global Total Knee Replacement Market Size and Forecast Analysis, by Region

Globally, North America is expected to account for 51% of total share in 2018. Aging population and obesity epidemic has led to increase in osteoarthritis cases in the region. According to the NCBI, osteoarthritis is the most common joint problem in U.S. Symptomatic knee OA is prevalent in 10% men and 15% women      aged 60 years and above. This has led to increase in demand for knee surgeries. Furthermore, Medicare policies has helped in lowering the knee replacement surgical procedure cost in the Region. As a result, knee replacement market is growing at a stable growth in North America.

Asia Pacific will register fastest growth. While the region offers huge untapped market opportunity, penetration is largely very less owing to lack of healthcare infrastructure and no or low healthcare insurance coverage. The per capita income in the region is far less compared to Europe and North America. China and India together accounts for 36% of total world population, still their collective per capita income is just approx. US$ 25,000, which is half the size of North America. As such, high healthcare treatment is still out of reach for a majority of the population.

On a positive note, macroeconomic changes are taking place swiftly in the region. For instance, India registered 8.6% growth in per capita income in 2018 than that in previous year. Knee replacement market in India was valued over US$ 305 million in 2017 and is expected to register a CAGR of 5.2% to create high revenue opportunity than rest of the world.

Global Total Knee Replacement Market Size and Forecast: Competition Landscape

Some key players covered in the report are

  • Stryker Corporation
  • Zimmer Biomet
  • DePuy Synthes Companies
  • Smith & Nephew
  • Medtronic
  • Microport Scientific
  • DJO Global
  • ConforMIS
  • Braun
  • Medacta

 

Total Knee Replacement Market Industry Segmentation

By Product:

  • Primary Knee Systems
  • Revision Knee Systems
  • Partial Knee Systems

By Application:

  • Femoral
  • Tibial
  • Patellar
  • Others

By Component:

  • Implant
    • Cobalt Chromium Alloys
    • Titanium Alloys
    • Polyethylene
    • Others
  • Robotic Assisted Devices

By Distribution Channel:

  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers
  • Others

What Will You Discover in the Report?

  • An in-depth analysis of the Total Knee Replacement market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
  • How the Total Knee Replacement market sales is expected to grow throughout the forecast period.
  • How geopolitical policies and technological changes will affect the Total Knee Replacement market in near future
  • Where the stakeholders should invest to generate higher profit margins
  • How consumers (end-users) will reflect to the Total Knee Replacement industry during the forecast period
  • Who are the Total Knee Replacement industry leaders and what are the key initiatives taken by them for long term growth

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Total Knee Replacement Market Size TOC

  1. Report Structure
  2. Research Methodology
    • Market Engineering Factors Weightage
    • Market Share Methodology
  3. Executive Summary
    • Key Findings
    • Market Engineering Factors
    • Industry Expert Perspectives
  4. Market Definitions
  5. The Global Total Knee Replacement Market Value
    • Overall Market Forecast
    • Total Knee Replacement Growth Outlook, By Segments
    • Total Knee Replacement Growth Scenario, by Region
  6. The Total Knee Replacement Industry Ecosystem
    • Parent Market Overview
    • Industry Value Chain and Distribution Analysis
    • Growth Factor Analysis
    • Key Industry Players By Region
    • Macro Factor Relational Value Analysis
  7. The Total Knee Replacement Industry Dynamics
    • Drivers
      • Supply Side Drivers
      • Demand Side Drivers
      • Macroeconomic Factors
    • Challenges
    • Opportunities
    • Mega Trends
    • Geographical Trends
    • Industry Experts Views
    • Merger Acquisition
    • Regulatory Compliances, By Selected Countries
    • Key Industry Developments
  8. The Total Knee Replacement Market Pricing Analysis
    • Total Knee Replacement Pricing Forecast
    • Pricing Analysis By Region
    • Pricing Trends
  9. Global Total Knee Replacement Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Industry Predictive Analysis
    • Total Knee Replacement Industry Segment Comparative Ranking Analysis
    • Key Companies Involved and Initiatives
    • Global Industry Opportunity Proposition Analysis
    • Market Share Analysis, (%)
    • Global Total Knee Replacement Market Size and Forecast, (2017-2028)
      • Market Value Forecast (US$ Million)
      • Growth Analysis (Y-o-Y) and Forecast
  1. Global Total Knee Replacement Industry Size and Forecast, By Segments

By Product:

  • Primary Knee Systems
  • Revision Knee Systems
  • Partial Knee Systems

By Application:

  • Femoral
  • Tibial
  • Patellar
  • Others

By Component:

  • Implant
    • Cobalt Chromium Alloys
    • Titanium Alloys
    • Polyethylene
    • Others
  • Robotic Assisted Devices

By Distribution Channel:

  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers
  • Others
  1. North America Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis
    • North America Total Knee Replacement Market Analysis
      • Industry Size and Forecast, (2017-2028)
      • Industry Share (%)
      • Industry Growth Forecast (%)
      • North America Total Knee Replacement Market, By Segments (As mentioned in section 10 of TOC)
    • S. Total Knee Replacement Market Size and Forecast, By Segments
    • Canada Total Knee Replacement Market Size and Forecast, By Segments
  2. Latin America Total Knee Replacement Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Latin America (South America) Total Knee Replacement Market Analysis
      • Industry Size and Forecast, (2017-2028)
      • Industry Share (%)
      • Industry Growth Forecast (%)
      • Latin America Total Knee Replacement Market, By Segments (As mentioned in section 10 of TOC)
    • Brazil Total Knee Replacement Market Size and Forecast, By Segments
    • Argentina
    • Mexico
    • Rest of Latin America

(Total Knee Replacement industry analysis covered across Latin America countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Western Europe Total Knee Replacement Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Western Europe Total Knee Replacement Market Analysis
      • Industry Size and Forecast, (2017-2028)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Western Europe Total Knee Replacement Market, By Segments (As mentioned in section 10 of TOC)
    • Germany Total Knee Replacement Market Size and Forecast, By Segments
    • UK
    • France
    • Spain
    • Italy
    • NORDIC
    • Switzerland
    • Rest of Western Europe

(Total Knee Replacement industry analysis covered across Western Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Central and Eastern Europe (CEE) Total Knee Replacement Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Central and Eastern Europe Total Knee Replacement Market Analysis
      • Industry Size and Forecast, (2017-2028)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Central and Eastern Europe Total Knee Replacement Market, By Segments (As mentioned in section 10 of Total Knee Replacement Market TOC)
    • Russia Total Knee Replacement Market Size and Forecast, By Segments
    • Poland
    • Ukraine
    • Rest of CEE

(Total Knee Replacement industry analysis is covered across Central and Eastern Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Asia Pacific Total Knee Replacement Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Asia Pacific Countries
    • Asia Pacific Total Knee Replacement Market Analysis
      • Industry Size and Forecast, (2017-2028)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Asia Pacific Total Knee Replacement Market, By Segments (As mentioned in section 10 of TOC)
    • Japan Total Knee Replacement Market Size and Forecast, By Segments
    • China
    • India
    • South Korea
    • Australia
    • ASEAN
    • Rest of Asia Pacific

(Total Knee Replacement industry analysis is covered across Asia Pacific countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Middle East Total Knee Replacement Market Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Middle East Countries
    • Middle East Total Knee Replacement Market Analysis
      • Industry Size and Forecast, (2017-2028)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Middle East Total Knee Replacement Market, By Segments (As mentioned in section 10 of TOC)
    • GCC Total Knee Replacement Market Size and Forecast, By Segments
    • Israel
    • Rest of Middle East

(Total Knee Replacement industry analysis is covered across Middle East countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Africa Total Knee Replacement Market Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Africa Countries
    • Market Share Analysis, (%)
    • Africa Total Knee Replacement Industry Size and Forecast, (2017-2028)
    • Africa Total Knee Replacement Industry Share (%)
    • Africa Total Knee Replacement Industry Growth Forecast (%)
    • South Africa Total Knee Replacement Market Size and Forecast, By Segments
    • Algeria
    • Nigeria

(Total Knee Replacement industry analysis is covered across Africa countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Total Knee Replacement Market Competitive Landscape
    • Competition Dashboard
    • Funding and Investment
    • Company Market Positioning
    • Marketing Mix Strategies
    • Product Level Strategies
    • Go-to-Market Strategies
    • SWOT Analysis
    • Key Developments, By Companies
    • Company Profiles*
      • Stryker Corporation
      • Zimmer Biomet
      • DePuy Synthes Companies
      • Smith & Nephew
      • Medtronic
      • Microport Scientific
      • DJO Global
      • ConforMIS
      • Braun
      • Medacta
  1. Analyst Opinion
  2. Summary and Conclusion
  3. For more Information, Bekryl can help

*(SWOT, Key Developments, and Strategies are based on individual companies)

To access the detailed Total Knee Replacement industry TOC and sample research pages, download sample.

 

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