Pune, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The report published by Maximize Market research, on the Knee Replacement Devices Market, covers an extensive regional analysis and competitive landscape. Over the forecast period, Maximize Market research expects, the market to grow from USD 9.28 Bn. in 2021 to USD 12.46 Bn in 2029 at a CAGR of 3.75 percent. As per the report, the Asia Pacific region is expected to grow at a CAGR of 3.21 percent.
Knee Replacement Devices Market Report Scope and Research Methodology
The Global Knee Replacement Devices Market report provides an evaluation of the market for the forecast period. The report includes various segments into which the market is divided as well as an analysis of the trends and factors that are playing a substantial role in the market. In the report, the market outlook section mainly encompasses the fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the Knee Replacement Devices industry. Based on the understanding of requirements, secondary research was conducted to identify the segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the Knee Replacement Devices Market. The secondary source referred for the research are press releases, company annual reports, government websites, and research papers related to the Knee Replacement Devices Market.
In the report, Porter’s analysis provides competition, new entrants in the market, supplier power, buyer power and the threats of the substitute products and services in the market. PESTLE identifies factors like sociocultural, economic, technological, political, legal, and environmental that may affect an organization and its competitive standing. The main approach used to calculate accurate market size are bottom-up approach, where macro and micro views of all the customers, revenue and current market are considered as a whole. On the other hand, the research is also conducted by considering micro-level segments that can be realistically targeted and calculated, which results in better forecasting and more accurate data on a more granular level. The approach is conducted by obtaining data from reliable sources.
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Knee Replacement Devices Market Dynamics
The rising diagnostic rate of knee arthritis in the adult population is expected to increase the demand for knee replacement devices during the projected period. The market growth is also expected to be driven by rising demand for customized knee implants and the entry of new competitors offering knee implants with innovation. Adverse effects are associated with artificial knee replacement devices or implants because of which the strict government regulations for patient’s safety is expected to limit the market growth. Due to the high-cost knee replacement surgery, people face affordability issues, which results in postponement or avoidance of the treatment.
Knee Replacement Devices Market Regional Insights
The knee replacement devices market in North America region held the highest market share in terms of value and volume. In 2021, the region dominated the global market and it is expected to retain its dominance during the forecast years. The region is also expected to grow at a CAGR of 3.74%. The Major factors that are expected to drive market growth in the region are an increase in the geriatric population and an increase in the number of individuals diagnosed with osteoarthritis.
During the forecast period, the Asia Pacific region is expected to grow at a CAGR of 3.21%. The market growth in the region is mainly due to the increased awareness of orthopaedic implants, increased demand for improved implants, rapidly rising geriatric population and increased need for minimally invasive treatments.
| Market Size in 2021 | USD 9.28 Bn. |
| Market Size in 2029 | USD 12.46 Bn. |
| CAGR | 3.75 % (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 196 |
| No. of Tables | 102 |
| No. of Charts and Figures | 98 |
| Segment Covered | Type, Deployment |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Knee Replacement Devices Market Segmentation
By Procedure Type
- Total Knee Replacement
- Partial Knee Replacement
- Revision Knee Replacement
By Implant Type
- Fixed Bearing
- Mobile Bearing
- Others
By End-User
- Hospitals
- Orthopedic Clinics
- Ambulatory Surgery Centers
Knee Replacement Devices Market Key Competitors include:
- DePuy Synthes
- Zimmer Biomet
- Stryker
- Smith+Nephew
- Aesculap Implants Systems, LLC
- Exactech, Inc.
- Medacta
- MicroPort Scientific
- CONMED
- Kinamed, Inc.
- ConforMIS
- OMNIlife science, Inc.
- Allegra Orthopaedics Limited
- Johnson & Johnson
- ORTOSINTESE
- Elite Surgical
- Arthrex
- Ortho Development
- Baumer
- PETER BREHM
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Key questions answered in the Knee Replacement Devices Market are:
- What is Knee Replacement Devices?
- What are the global trends in the Knee Replacement Devices Market?
- What are the upcoming industry applications and trends for the Knee Replacement Devices Market?
- What are the factors contributing to the final price of Knee Replacement Devices?
- What is the expected demand for different types of products in the Knee Replacement Devices Market during the forecast period?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Knee Replacement Devices Market?
- How the intervention from regulatory authority is is shaping the Knee Replacement Devices Market?
- What growth strategies are the players considering to increase their presence in Knee Replacement Devices?
- Who are the leading companies and what are their portfolios in Knee Replacement Devices Market?
- What are the major challenges that the Knee Replacement Devices Market could face in the future?
- Who held the largest market share in Knee Replacement Devices Market?
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Key Offerings:
- A detailed overview of Knee Replacement Devices Market
- Knee Replacement Devices Market Share, Size & Forecast by Revenue | 2022−2029
- Knee Replacement Devices Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Procedure Type, Implant Type and End-User
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading Medical Devices research firm, has also published the following reports:
Angiography Devices Market - The market size is expected to reach USD 20.1 billion by 2029 at a CAGR of 6 percent during the forecast period. The market is expected to be driven by the demand for interventional angiography systems in minimally invasive surgeries and growing rowing demand from doctors and healthcare workers.
Orthopedic Devices Market - The market size is expected to reach USD 95.79 billion by 2029 at a CAGR of 6.7 percent during the forecast period. The market is expected to be driven by high frequency of orthopedic problems, such as degenerative bone disease, as well as the expanding aging population and the rising number of traffic accidents.
Assistive Devices Market - The market size is expected to reach USD 28.56 billion by 2029 at a CAGR of 5 percent during the forecast period. The market is expected to be driven by increasing disorders & non-communicable diseases, a rising Number of Accidents and the growing aging population.
Anastomosis Devices Market - The market size is expected to reach USD 4.26 billion by 2029 at a CAGR of 8.2 percent during the forecast period. The market is expected to be driven by rising surgical procedures along with the growing incidence of cardiovascular and gastrointestinal diseases.
Interventional Cardiology Devices Market - The market size is expected to reach USD 29.36 billion by 2029 at a CAGR of 9.31 percent during the forecast period. The market is expected to be driven by the rapidly expanding healthcare sector in developing nations and technological advancements.
Nephrology Devices Market - The market size is expected to reach USD 7.21 billion by 2027 at a CAGR of 6.6 percent during the forecast period. The market is expected to be driven by the increase in worldwide senior individuals, as well as the increased incidence of chronic kidney disease.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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