Knee Reconstruction Devices Market

Knee Reconstruction Devices Market Outlook (2023 to 2033)

The global knee reconstruction devices market is expected to reach a market valuation of USD 8.5 billion by 2023, accelerating with a moderate CAGR of 4.3% from 2023 to 2033. The knee reconstruction devices market is anticipated to be valued at about USD 13.0 billion by 2033 end.

According to FMI's analysis, the global knee reconstruction devices market has been expanding rapidly due to product design and functionality innovations. The knee reconstruction devices market participants have benefited from the prevalence of ailments like arthritis and knee discomfort. Furthermore, critical regulatory authorities worldwide have relaxed authorizations to provide better market access.

Innovative and effective knee repair methods and gadgets have been made possible by the rapid development of healthcare technology in recent years. Market shifts are also being driven by rising demand for minimally invasive procedures. Surgical procedure and instrument advancements have had a major impact on the current knee reconstruction devices industry.

The demand for knee reconstruction devices is expected to rise because of technological improvements and the rising prevalence of orthopedic disorders leading to an increase in surgeries. The expanding patient pool and increased prevalence of lifestyle-related illnesses are also contributing to the knee reconstruction devices market's expansion. It has been determined that the reconstruction of the hip or knee is not an emergency during the current COVID-19 pandemic.

As the number of companies producing knee reconstructive devices continues to grow, competition in the industry is heating up. Companies also plan to pour resources into R&D for new and improved products to remain competitive. The knee reconstruction devices industry is making larger bets on emerging technologies like 3D printing.

The newest innovations are more cost-effective and take advantage of mobile apps that help doctors keep tabs on evolving data in real time and provide improved patient care. All these advantages are expected to increase demand for knee reconstruction devices, driving the market forward during the forecasted time frame. Growth in the knee reconstruction devices market is predicted to be aided by the increased availability of newer, more advanced equipment for both healthcare providers and their patients.

Knee Reconstruction Devices Market: What's Driving It, and What's Holding It Back

Reduced surgical time is a direct outcome of the increased precision and accuracy made possible by minimally invasive approaches to knee reconstruction. Modern surgical techniques have bolstered demand for knee reconstruction devices, greatly reducing the complications plaguing older procedures. It is a major component fuelling the worldwide market expansion for knee reconstruction devices.

To increase performance with fewer incisions and complications, knee reconstruction surgery is receiving more funding for research and development. Trust in the gadgets and treatments is boosted by the availability of such items, which is expected to fuel knee reconstruction devices market expansion in the upcoming years. Increases in knee injuries and the need for reconstruction drive growth in the global knee reconstruction devices market.

Meanwhile, government investments in healthcare infrastructure have helped knee reconstructive technologies gain significant traction in healthcare systems worldwide. However, producers confront many hurdles that could ultimately slow the knee reconstruction devices industry's progress over the long run.

Knee reconstructive devices are prohibitively expensive, which slows their widespread use. Knee replacement and reconstruction tools competition in the market is hampered by the need to comply with increasingly stringent rules established by agencies like the Food and Drug Administration. In addition, postoperative complications, particularly those related to biocompatibility, will likely continue to worry market participants for the foreseeable future.

Attributes	Details
Market CAGR (2023 to 2033)	4.3%
Market Valuation (2023)	USD 8.5 billion
Market Valuation (2033)	USD 13.0 billion

Country-Wise Analysis of the Knee Reconstruction Devices Market

Countries	Forecast Period Share Between 2023 to 2033
United States	29.5%
Germany	8.1%
Japan	5.0%

Countries	Forecast Period CAGR Between 2023 to 2033
Australia	4.4%
China	4.0%
India	3.8%
United Kingdom	3.4%

Performance of the United States Market:

• In recent years, hip and knee joint reconstruction surgeries have risen in the United States. Over a million hip and knee replacements are performed annually in the United States.
• About half of American individuals are likely to develop knee osteoarthritis in their lifetimes. By 2033, there are expected to be 3.5 million knee replacement surgeries, a 670 percent increase from today.
• Knee reconstruction devices treat musculoskeletal pain. Major manufacturers' continuous presence in the country should boost long-term growth.
• The United States is estimated to secure a share of 29.5% in the global market by 2033.

How China Market is Upsurging?

• The Chinese Medical Journal claims that up to 95% of all prosthetic joints sold in the United States are made in China. Unicondylar knee arthroplasty (UKA) and total knee arthroplasty (TKA) procedures both had significant increases in demand between 2011 and 2019 (up 600% and 100%, respectively).
• Forecasts indicate that increased treatment options are likely to be utilized as disposable incomes and standards of life in China continue to rise. Investments in joint reconstructive products by Chinese pharmaceutical firms are expected to increase regional sales opportunities in East Asia and establish long-term growth forecasts.
• China is anticipated to capture a CAGR of 4% in the global market by 2033.

Overview of the South African Market:

• Revenue-wise, the South African knee reconstruction devices market brought in about 28.0% of the total in 2020. Adults over 65 in South Africa have a prevalence of osteoarthritis anywhere from 29.5% to 82.7% in rural areas and 55.1% in urban areas. The high rate of osteoarthritis in the country is expected to be a significant factor in the knee reconstruction devices market expanding throughout the anticipated time frame.

Competitive Landscape for the Knee Reconstruction Devices Market

There is a moderate market concentration in the knee reconstruction devices industry worldwide, with a few companies expected to account for most sales. Market leaders are putting more resources into Research and Development to create innovative products and gain approval from regulators more quickly to increase their knee reconstruction devices' market share.

Recent Developments

As part of their work on a digital surgery platform that uses linked technologies, Johnson & Johnson Medical Devices Company (J&JMD) announced in January 2021 that the FDA had granted permission for their VELYS Robotic-assisted solution for use with their Attune Total Knee System.

Active Technologies received FDA clearance in March 2021 for its Citrespline and Citrelock ligament reconstruction devices, intended to prevent soft tissue damage during insertion. These devices can be used for reconstructive procedures on various joints, including the knee.

Furthermore, Conformis Inc. stated that its patient-specific iTotal PS total knee replacement system had been approved by the Therapeutic Goods Administration in Australia. This technology is intended to provide patients with reconstructive processes unique to their bodies.

The Next Generation Of Joint Replacement Safety

Joint replacement surgeries are now safer and last longer than ever before because of the widespread adoption of 3D printing.

Greater than a million people in the United States alone have total joint replacements done each year. The aging of the population and the subsequent decrease in the average age at which these procedures are performed contribute to this rising trend. By the year 2030, it is expected that four million Americans are expected to have joint replacement surgery yearly.

Replacement of a damaged joint is the best option for people with advanced arthritis in terms of both cost and clinical outcomes, but it is not without its drawbacks. Whether or not a patient experiences any post-operative joint pain, how well the replacement common functions, and how long it lasts can all be affected by seemingly minor differences in implant placement and fit.

Computer modeling software and 3D printing are being used for the first time by surgeons in Yale's Department of Orthopaedics and Rehabilitation to better prepare for and carry out joint replacements. The devices help older people recover more quickly and safely and improve outcomes.

As the technology progresses, global knee reconstruction devices market players are adopting new trends to change the outlook.

A novel AI-based solution for 3D Reconstruction of knees from X-ray images was recently announced by RSIP Vision, a developer of AI and computer vision technologies. This technology offers doctors an in-depth 3D model of each bone, which can be used for pre-operative planning and implant sizing.

It is expected to streamline doctors' procedures and reduce unnecessary expenses and radiation exposure. The doctors are likely to have a highly accurate 3D anatomical model of the patient's knee for pre-operative planning and customizing the implant.

Scope of Report

Attributes	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	USD billion for Value
Key Countries Covered	United States, United Kingdom, Japan, India, China, Australia, Germany
Key Segments Covered	Product Type, End User, Indication, Region
Key Companies Profiled	Zimmer, Inc.; Stryker Corporation; DePuy Synthes; Smith & Nephew; Corin; United Orthopedic Corporation; Arthrex Inc.; Exactech Inc.; DJO Global; Japan Medical Dynamic Marketing; Tornier Inc.
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Knee Reconstruction Devices Market by Segmentation

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
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa (MEA)

Frequently Asked Questions

What is the Growth Potential of the Market?

The growth potential of the market is 4.3% through 2033.

Which Country Holds High Lucrativeness?

The United States is projected to emerge as a lucrative market.

What hampers the market?

The need to comply with increasingly stringent rules hampers the market.

What is China’s Expected Share by 2033?

China's market is projected to expand at 4% CAGR by 2033.

What Drives Sales in the Market?

Reduced surgical time is a direct outcome of the increased precision driving sales in the market.