Growth, Trends, and Forecast for the Knee Prosthetics Market to 2024

Artificially created tools and apparatuses known as prosthetics are used to replace a missing physical part or organ that results from an illness, accident, or congenital ailment. One of the major contributions to the prosthetic products business are knee prostheses, which are devices used to replace the knee and related elements. Knee prostheses are specialized goods and equipment (such as knee orthoses and implants) that are used to maintain wounded knees and replace damaged knee structures. They also serve as a tool for knee support.

The Global Knee Prosthetics Market: Opportunities and ChallengesThe global population's growing awareness of knee illnesses and accessible therapies, significant research and development, rising rates of orthopedic diseases, the quick expansion of the medical infrastructure, and technical breakthroughs are the main factors propelling the knee prosthetics market. One of the main factors propelling the market is the rising incidence of joint illnesses, especially those affecting the knee. In 2005, the Centers for Disease Control and Prevention (CDC) estimated that over 27 million Americans have osteoarthritis (OA), an increase of about 6 million since 1990. The quick advancement of the worldwide medical infrastructure is also a significant factor in the market's expansion.

Globally, there are becoming more knee prosthetic surgeries performed as a result of the expansion of medical infrastructure. However, a number of significant challenges are anticipated to impede the growth of this market, including the high cost of research and development and therapy, the lengthy recovery period following treatment, the hazards associated with replacement surgery, a lack of knowledge in some parts of the world, and a shortage of surgeons with the necessary technical skills. The largest obstacle to the market's expansion is thought to be the high cost of therapy. The CDC reports that the overall cost of knee and hip replacement surgery was around USD 8 billion in 1997, and that the cost has not significantly changed since then. The creation of affordable, cutting-edge knee prostheses and the production of simple-to-maintain knee prosthetic devices represent the two primary growth prospects in the knee prosthetics market.

Segmentation of the Global Knee Prosthetics MarketProducts like knee implants and braces for orthosis are used to segment the market for knee prostheses. A variety of sub-segments fall under the umbrella of the knee implant segment. These include the following: mobile bearing total knee replacement implants (non-constrained substituting implants, hinged/retained implants, and semi-constrained substituting implants), partial knee implants (fixed bearing and mobile bearing), and others (artificial cruciate ligaments and cartilage repair).

Based on implant fixation technology, the knee implant market may be further divided into three segments: cementless, hybrid, and cemented. The market for braces for knee orthoses can be segmented based on the types of braces that are available for supporting activities, including foot orthoses, ankle-foot orthoses, knee-ankle-foot orthoses eggy car, and others. Geographically speaking, the knee prosthetics market can be divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Because knee diseases are so common there, the North American market leads the global market. However, due to increased awareness and the expansion of medical infrastructure, the Asia-Pacific and Rest of the World regions represent the most potential markets going forward.

The market for knee prosthesis is dominated by companies like Otto Bock Healthcare, Zimmer Holdings, Inc., DePuy Synthes, Stryker Corporation, and Medtronic, Inc.

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