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Impact of COVID-19 on the Knee Replacement Market Size, Share, Industry Analysis and Regional Forecast, 2026

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saurabh jadhav
Impact of COVID-19 on the  Knee Replacement Market Size, Share, Industry Analysis and Regional Forecast, 2026

The global knee replacement market will derive growth from recent advancements in the material associated with the surgical procedures. According to a report published by Fortune Business Insights, titled “Knee Replacement Market Size, Share & Industry Analysis, By Procedure (Total Knee Arthroplasty, Partial Knee Arthroplasty, and Revision Arthroplasty) By Implant Type (Fixed Bearing, Mobile Bearing, and Others) End-user (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centres, and Others) and Regional Forecast, 2019-2026,” the market size was USD 9.06 Bn in 2018 and is projected to reach USD 12.72 billion by 2026, exhibiting a CAGR of 4.3% during the forecast period.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.

Click here to get the short-term and long-term impact of COVID-19 on this [Market].

For More Information : https://www.fortunebusinessinsights.com/industry-reports/knee-replacement-implants-market-101244

Recent material innovations in the equipment associated with knee replacement surgeries have opened up a huge potential for the growth of the market in the coming years. The growing adoption of robotic-assisted knee surgeries will lead to an increase adoption across the world. The high prevalence of knee osteoarthritis will create several opportunities for growth for the companies operating in the market. According to the Osteoarthritis Research Society International (OARSI), the prevalence of osteoarthritis will reach 5% in the coming years. Furthermore, the increasing aging population, coupled with increasing incidence of obesity will contribute to the growth of the market in the coming years.

Increasing Number of Usage Clearances to Aid Market Growth

The report provides a detailed analysis of several factors that have made a positive impact on the market in recent years. The high demand for knee replacement procedures has encouraged regulatory authorities to approve newer products. The increasing number of regulatory clearances will aid the growth of the market in the coming years. In October 2019, Think Surgical announced that it received approval from the Food and Drug Administration for its latest knee replacement solution. The company announced the approval for TSolution One System, a knee replacement procedure. The report highlights major FDA approvals of recent years and gauges the impact of these clearances on the global market.

North America to Emerge Dominant in the Global Market

The report segments the market on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Among these regions, North America will exhibit the highest growth rate in the coming years. Increasing penetration of computer-aided implant designs will create several growth opportunities for the companies operating in the market. The improving health reimbursement scenario will lead to an increased adoption for knee replacement surgeries across the world. Besides North America, the market in Europe will exhibit considerable CAGR in the coming years, driven by advances in material designs and innovations in surgical procedures.

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