Knee Reconstruction Device Market Size, Share, and Growth Analysis 2022-2028

Knee Reconstruction Device Market Size And Industry Analysis

The global knee reconstruction devices market size was worth USD 9,824.5 million in 2021 and is estimated to grow to USD 12,503.01 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.10% over the forecast period. The report analyzes the knee reconstruction device drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the knee reconstruction devices market.

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Knee Reconstruction Devices Market: Overview

The stabilizing ligament that holds the tibia in place is one of the ligaments that must be moved and repositioned during knee reconstruction. This tear may interfere with some bodily functions and make them more difficult to complete. Knee reconstruction typically uses instruments such as cementless implants, partial implants, revision implants, and cemented implants. The market for reconstructive knee devices is predicted to develop as knee accidents rise. As the population ages, knee-related illnesses, including osteoarthritis and rheumatoid arthritis, are becoming more prevalent.

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COVID-19 Impact:

The COVID-19 problem is an unprecedented health concern and has hurt joint reconstruction techniques. The primary reason for the decline in surgical procedures is the higher risk associated with them due to the coronavirus infection and an increase in hospital patient invasion. Although there are fewer COVID-19 patients in some locations and standard operating procedures have been implemented in healthcare settings, the market for joint reconstruction devices is predicted to expand significantly. The government initiative to provide clinical emergency care to osteoarthritis sufferers has kept up with industry demand.

Key Insights

• As per the analysis shared by our research analyst, the global knee reconstruction devices market value will grow at a CAGR of 4.10% over the forecast period.
• In terms of revenue, the global knee reconstruction devices market size was valued at around USD 9,824.5 million in 2021 and is estimated to grow to USD 12,503.01 million by 2028.
• The global market for knee replacement devices is seeing tremendous growth due to the sharp increase in the prevalence of knee-related conditions worldwide.
• By product, the revision implants had the largest CAGR market in 2021.
• By end use, the hospital segment dominated the market in 2021.
• North America dominated the global knee reconstruction devices market in 2021.

Knee Reconstruction Devices Market: Growth Drivers

An increase in knee-related issues to drive market growth

The frequency of knee-related problems is rapidly increasing. As a result, total knee arthroplasty (TKA) or total knee replacement (TKR) has become more popular. Some of the main factors driving the global knee replacement devices market include the development of high-quality knee replacement devices & materials, the creation of individualized therapies, and knee transplants. The American Academy of Orthopedic Surgeons found that approximately 90% of individuals who have undergone knee replacement procedures report significantly reduced pain. Often, individuals can return to daily pursuits like walking and golfing. The demand for knee replacement devices is anticipated to increase dramatically.

Knee Reconstruction Devices Market: Restraints

FDA recalls due to failure of devices likely to restrict market expansion

The FDA recalls knee replacement implants at an increasing rate due to product failures, component inconsistencies, or compromised sterility issues. It is the main factor limiting the global knee replacement market's growth throughout the projection period. An illustration is the undefined number of polyethylene orthopedics implants for the knees, hips, and extremities that Zimmer Biomet recalled in July 2020 due to the potential presence of high endotoxin levels. According to the recall notice, unfavorable local tissue reaction, serious discomfort or ache, and a severe, systemic allergic or toxic reaction are all expected health effects.

Knee Reconstruction Devices Market: Segmentation

The global knee reconstruction devices market has been segmented into product, end-user, indications, and region.

Based on product, cemented implants, cementless implants, partial implants, and revision implants are segments of the global knee reconstruction devices market. Compared to other techniques, partial knee replacement systems have a speedier and easier recovery.

Based on end-user, the market is classified into hospitals, orthopedic clinics, and ASCs. While hospitals have specialist sections and surgeons that do total knee replacement surgery, orthopedic clinics specialize in these procedures.

Based on indication, the global market is segregated into osteoarthritis, rheumatoid arthritis, trauma and others.

Recent Developments

• July 2020: The latest OMNIBotics software update 2.6 was given the 510(k) clearance by the US Food & Drug Administration (FDA). Corin is a leading provider of a distinctive blend of clinically tested hip, knee, ankle, and shoulder solutions and cutting-edge technology. It will enable them to use the robotically assisted treatment in the United States region in conjunction with the Unity Knee total knee implant system.
• September 2019: Johnson & Johnson Medical Devices Companies, a world authority on orthopedic trauma treatment devices, announced that DePuy Synthes would introduce the ATTUNE Cementless Knee in a rotating platform option in a few key international markets. It will make it easier for the business to meet the present-day and future-day demands of their active lifestyle.

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Knee Reconstruction Devices Market: Regional Landscape

North America dominated the knee reconstruction devices market in 2021

North America is anticipated to dominate the global knee reconstruction devices market during the forecast period. This surge is related to rising healthcare costs and increased awareness and accessibility to therapies in the area. Over the anticipated years, the market in Europe is predicted to increase slowly. Nevertheless, the market in the Asia Pacific is anticipated to grow at the most profitable rate due to rising awareness and the accessibility of better medical technologies. A further element impacting the need for knee reconstruction treatments is the vast population and patient pool in the area. The gadgets market is therefore anticipated to experience some growth in the future. 

Knee Reconstruction Devices Market: Competitive Landscape

Some of the main competitors dominating the global knee reconstruction devices market include- Zimmer, Inc., Stryker Corporation, DePuy Synthes, Smith & Nephew, Corin, United Orthopedic Corporation, Arthrex Inc., Exactech Inc., DJO Global, Japan Medical Dynamic Marketing, Tornier Inc. (indicative list).

Knee Reconstruction Device Market: Report Scope

The global knee reconstruction devices market is segmented as follows:

By Product

• Cemented Implants
• Cementless Implants
• Partial Implants
• Revision Implants

By End User

• Hospitals
• Orthopedic Clinics
• ASCs

By Indication

• Osteoarthritis
• Rheumatoid Arthritis
• Trauma
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa