Global Knee Implants Market – Analysis By Replacement Type (Total, Partial, Revision), Material (Metal Alloys, Ceramics, Plastics), Fixation Approach, By Region, By Country (2022 Edition): Market Insights, Pipeline and Forecast with Impact of COVID-19 (2022-2027)
Executive Summary
According to Azoth Analytics research report, the global Knee Implants market, valued at USD 10.26 billion in the year 2021 is projected to display robust growth during the forecast period 2022–2027. Diabetes, obesity, knee disorders such as osteoarthritis, rheumatoid arthritis and joint pains along with confluence with sedentary lifestyles are some of the factors known to increase the chances of developing knee disease which then requires knee implants or surgeries.
An increase in the prevalence of these ailments and lifestyle choices among the masses, coupled with the rising geriatric population, represents one of the key factors driving the market growth. Furthermore, the leading pharmaceutical companies are focusing on the development of a new and innovative product that comes with robot-assisted surgeries that is likely to cater to a large section of the population through customized implants and provide a long-lasting improvement in their knee functionality. This is likely to propel the market for knee implants in the forecast period globally.
Moreover, the outbreak of COVID-19 led to widespread surgical restrictions and cancellation of implant procedures which resulted in monumental revenue losses for the orthopaedic and medical device companies. However, the market for knee replacement has started recovering and began working rapidly in order to cater to the backlog of postponed surgeries. Therefore, in the coming years, it is estimated that the market for knee replacement will recover rapidly after the resumption of surgical procedures.
Scope of the Report
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