Global Total Knee Arthroplasty Market Is Expanding Owing To Growing Awareness Regarding Benefits Of Surgery

Total Knee Arthroplasty Market

Overview:

Total Knee Arthroplasty (TKA) is a surgical procedure to resurface a knee that is damaged by arthritis. Metal and plastic parts replace the ends of the bones that form knee joint and cap the kneecap. A large majority of patients report substantial or complete relief of their arthritic pain after this surgery. Symptoms of stiffness often improve, too. The traditional TKA surgery is usually done with a 7-8” incision over the knee, followed by a hospital stay of 3-5 days and a recovery period that lasts from one to three months. Several smaller cuts can be made to insert minimally-invasive partial knee replacement implants, whereas these techniques are used only in a minority of patients. Infection risk factors for TKA PJI include patient lifestyle and medical history, as well as previous knee surgery. Infection in TKA is associated with significant morbidity and mortality and requires early evaluation and treatment with appropriate medications to prevent revision surgery.

Market Dynamics:

Increasing technological advancements are estimated to augment growth of the Global Total Knee Arthroplasty Market during the forecast period. For instance, VELYS Robotic-Assisted Solution was launched by DePuy Synthes, in July 2021, for knee replacement surgery in Australia. VELYS can be used along with their ATTUNE Knee System for total knee arthroplasty. Moreover, increasing concerns regarding compensation and rising expenses of the system are anticipated to restrain growth of the global total knee arthroplasty market during the forecast period.

Impact of COVID-19:

The pandemic was first identified in 2019 in China. It was transmitted to many other nations globally. The pandemic hampered the growth of many sectors. The global economy was ruptured and manufacturing activities in many businesses were shut down. The healthcare sector was also affected owing to the pandemic. Hospitals had to postpone or cancel surgeries and other procedures like knee replacement surgeries and many more. This hampered the growth of the Global Total Knee Arthroplasty Market. However, the market is estimated to witness growth in the post-pandemic era, when all restrictions were eased.

Key Takeaways:

The global Total Knee Arthroplasty Market is expected to witness high growth, exhibiting CAGR of 4.0 % over the forecast period, due to increasing product approvals. For instance, the US FDA granted De Novo classification and authorization to Immer Biomet Holdings, Inc. and Canary Medical for the marketing the tibial extension for Persona IQ, in 2021. This is the first smart knee cleared by the FDA in the world.

North America is anticipated to witness significant growth in the global total knee arthroplasty market during the forecast period, due to growing presence of significant business players and rising prevalence of degenerative disorders.

Key players operating in the global Total Knee Arthroplasty Market are Conformis Inc., Aesculap, Inc., Medical Devices Business Services, Inc., B. Braun Melsungen AG, Exactech, Inc., Corin Group, Medtronic, Smith & Nephew PLC, SurgTech Inc., Johnson & Johnson, Zimmer Biomet, Stryker Corporation, Medacta, Medtronic PLC, MicroPort Scientific Corporation, and MicroPort Orthopedics Inc.