Knee Reconstruction Devices Market Projected to Reach USD 7.94 Billion by 2020 - Global Analysis and Forecasts
The global knee reconstruction devices market is projected to reach USD 7.94 Billion by 2020, at a CAGR of 4.3% from 2015 to 2020.
The report on the global knee reconstruction devices market analyzes and segments the concerned market on the basis of product type and geography. It analyzes the competitive developments, such as alliances, joint ventures, and mergers & acquisitions in the global knee reconstruction devices market. This market is also studied with an explicit focus on the high-growth applications and fastest-growing market segments.
Joint reconstruction procedures are undergone by the patients experiencing severe knee-related pain and limited mobility, usually resulting from arthritis (both, degenerative and inflammatory). The damaged joint is replaced by an artificial joint that provides the patient significant relief from pain, thus resulting in improved quality of life.
Revision knee reconstruction surgeries can be of three types, which include replacement of one component, two components, or all components. Patients mostly face complications with regard to two component and all component replacements by 11.1% each, which might result in multiple knee replacement surgeries. As such, there is increase in the number of the patients undergoing revision knee reconstruction surgeries, which is expected to fuel the growth of the revision knee reconstruction devices market during the forecast period, 2015 to 2020.
Factors influencing the growth of the global knee reconstruction devices market include rise in aging population, initiatives undertaken by the governments of various countries for allocation of new funds and development of new policies, and technological advancements in the global market.
Technological advancements in the global knee reconstruction devices market, such as newly developed prostheses with improved strength and reliability of joints, are reducing the need and cost of revision surgeries. Additionally, the rising healthcare expenditure is a positive sign for the growth of this market during the forecast period, 2015 to 2020.
The global knee reconstruction devices market was led by the Americas in 2014. It was followed by market in the European and Asia-Pacific regions. China, Japan, India, the Republic of Korea, Australia, Singapore, New Zealand, Thailand, Malaysia, Indonesia, Taiwan, and Vietnam are the countries of the Asia-Pacific market covered in this report. The Asia-Pacific knee reconstruction devices market is expected to grow at a CAGR of 6.1% from 2015 to 2020. Some of the Asian countries, such as India, Thailand, and Malaysia, among others are becoming well-known destinations for medical tourism as they offer low-cost knee reconstruction procedures and high quality health care.
Major players profiled in the global knee reconstruction devices market report include Zimmer, Inc. (U.S.), Stryker (U.S.), DePuy Synthes (U.S.), Smith & Nephew plc (U.K.), Arthrex, Inc. (U.S.), Exactech, Inc. (U.S.), Corin (U.K.), DJO Global (U.S.), Japan Medical Dynamic Marketing, Inc. (Japan), Tornier, Inc. (Netherlands), and United Orthopedic Corporation (Taiwan), among others.
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