Total knee arthroplasty (TKA) is a surgical procedure to replace the weight-bearing surfaces of the knee joint to relieve pain and disability. TKA implants are designed to resurface worn, arthritic, or damaged knee joint surfaces and can help people with knee osteoarthritis regain knee function and mobility. TKA is highly effective, generally reducing knee pain and improving knee function. It allows many patients to remain active and mobile. The most common reason for TKA is osteoarthritis. Osteoarthritis causes the cartilage that cushions the ends of bones to wear away, leaving bones to rub against each other, causing pain, stiffness, and loss of movement.
The global Total Knee Arthroplasty Market is estimated to be valued at US$ 9452.32 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The key trend in the total knee arthroplasty market is the advent of robot-assisted surgeries. Robotic technology offers several advantages over conventional surgery such as increased precision, smaller incisions, shorter hospital stays, and quicker recovery. Robot-assisted knee replacement systems use advanced sensors, cameras, and computers to help surgeons perform precise movements that are difficult to achieve manually. It provides real-time anatomical details with minimum incisions. Some of the major manufacturers are focusing on integrating robotic surgical procedures with knee replacement implants to improve surgical outcomes and accuracy. For instance, Stryker Corporation offers MAKOplasty, a robotic-arm assisted surgery platform designed specifically for total knee replacement procedures.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the total knee arthroplasty market is moderate as it requires significant investment in R&D to develop new products and undergo a stringent regulatory process.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of substitutes and preference for price sensitive consumers.
Bargaining power of suppliers: Suppliers have moderate power due to availability of alternative suppliers and dependence of companies on innovative materials.
Threat of new substitutes: The threat of substitutes is moderate as the replacement surgeries requires high investments and long-term treatments are preferred by patients and clinicians.
Competitive rivalry: The market is competitive due to presence of global and local players offering diverse products.
Key Takeaways
The global Total Knee Arthroplasty Market Demand is expected to witness high growth during the forecast period. The global Total Knee Arthroplasty Market is estimated to be valued at US$ 9452.32 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030.
Regional analysis
North America region holds majority share in the total knee arthroplasty market due to growing geriatric population and rising incidence of joint disorders. The Asia Pacific is anticipated to witness fastest growth rate during the forecast period owing to presence of large patient population, improving healthcare infrastructure, and availability of affordable treatments.
Key players
Key players operating in the total knee arthroplasty market are AssurX, Sparta Systems, Oracle Corporation, Xybion Corporation, Sarjen Systems Pvt. Ltd., MDI Consultants, AB-Cube, QVigilance, Qserve, and ZEINCRO. These players are adopting various organic and inorganic strategies such as new product launches, partnerships and acquisitions to expand their global presence.
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The global Cementless Total Knee Arthroplasty Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Cementless Total Knee Arthroplasty include MicroPort Scientific Corp., Stryker Corporation, Waldemar Link GmbH and Co. KG, B. Braun Melsungen AG, GROUP FH ORTHO, Corin Group plc,Smith & Nephew plc, United Orthopedic Corporation, Zimmer Biomet Holdings, Inc., Corin Group plc, GROUP FH ORTHO, and Johnson & Johnson..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Cementless Total Knee Arthroplasty Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/cementless-total-knee-arthroplasty-market/download-sampleMarket SegmentationThe broad Cementless Total Knee Arthroplasty has been sub-grouped into the Product, Implant Type, End-User and Region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
