Cementless Total Knee Arthroplasty Market to Reach $3.0 Billion, Globally, by 2032 at 4.6% CAGR: Allied Market Research
Wednesday, August 9, 2023
The global cementless total knee arthroplasty market is experiencing growth due to several factors, including the rise in prevalence of knee osteoarthritis, the surge in the number of sports-related injuries, and technological advancement in surgical techniques, implant design, and materials used in cementless total knee arthroplasty.
PORTLAND, Ore., Aug. 1, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Cementless Total Knee Arthroplasty Market by Product (Mobile Bearings and Fixed Bearings), by Material (Ceramic, Alloy and Others), by End User (Hospitals and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global cementless total knee arthroplasty market was valued at $1.9 billion in 2022 and is estimated to reach $3.0 billion by 2032, exhibiting a CAGR of 4.6% from 2023 to 2032.
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Prime Determinants of Growth:
The global cementless total knee arthroplasty market is experiencing growth due to several factors, including the rise in prevalence of knee osteoarthritis, the surge in the number of sports-related injuries, and technological advancement in surgical techniques, implant design, and materials used in cementless total knee arthroplasty. However, the high cost of cementless total knee arthroplasty implants and limited awareness among people regarding the availability of cementless total knee implants are expected to hamper the cementless total knee arthroplasty market growth. On the contrary, growing patients' preferences for cementless implants and favorable reimbursement policies and insurance coverage for cementless knee arthroplasty procedures are expected to create immense opportunities for the expansion of the global market in the future.
Report Coverage & Details:
Report Coverage
Details
Forecast Period
2023-2032
Base Year 2022
Market Size in 2022
$1.9 Billion
Market Size in 2032
$3.0 Billion
CAGR 4.6 %
No. of Pages in Report 372
Segments Covered
Product, material, end user, and Region
Drivers
Rise in the prevalence of knee osteoarthritis
Technological advancements in knee arthroplasty implants
Rise in the number of sports related injuries
Opportunities Rise in popularity of cementless total knee arthroplasty over cemented
knee arthroplasty
Restraints
High cost of cementless total knee arthroplasty implants
Recession 2023 Impact Analysis:
-- During a recession, various economic indicators, such as industrial
production, employment rates, and consumer spending, tend to decline.
-- Surging inflation and interest rates are contributing to a slowdown as
consumer spending wanes. These economic factors may curb consumer
spending on medical devices such as cementless total knee implants.
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The fixed bearings segment to maintain its leadership status throughout the forecast period-
Based on product, the fixed bearings segment held the highest market share in 2022, accounting for more than four-fifths of the global cementless total knee arthroplasty market revenue, and is estimated to maintain its leadership status throughout the forecast period. The same segment would also showcase the fastest CAGR of 4.8% during the forecast period. Due to various benefits offered by a fixed-bearing platform, it is used as a standard for many cementless total knee arthroplasty (TKA) implants because of its simple design and low cost compared with mobile-bearing or rotating-platform implants.
The alloy segment to maintain its lead position throughout the forecast period-
Based on material, the alloy segment held the highest market share in 2022, accounting for more than half of the global cementless total knee arthroplasty market revenue and is estimated to maintain its lead position throughout the forecast period. The same segment would also exhibit the fastest CAGR of 5.0% during the forecast period. Because alloy based cementless total knee implants provide better fixation within the bone compared to cemented implants.
The hospitals segment to rule the roost by 2032-
Based on end user, the hospitals segment held the highest market share in 2022, accounting for nearly three-fourths of the global cementless total knee arthroplasty market revenue, and is projected to rule the roost by 2032. Owing to the increase in the number of knee arthroplasty procedures conducted globally and the availability of specialized orthopedic surgeons in hospitals. However, the others' segment is projected to manifest the highest CAGR of 5.5% from 2023 to 2032. The growth is attributed to an increase in patient preference for outpatient surgeries at ambulatory surgical centers and orthopedic clinics and the availability of technologically advanced medical devices at orthopedic centers and ambulatory surgical centers.
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North America to maintain its dominance by 2032-
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for around half of the global cementless total knee arthroplasty market, and is likely to dominate the market during the forecast period. This is attributed to a rise in awareness about cementless total knee arthroplasty implants, an increase in the prevalence of osteoarthritis and rheumatoid arthritis, the strong presence of key players providing cementless knee implants, and the availability of advanced healthcare systems and modern medical technologies. However, the Asia-Pacific region is expected to witness the fastest CAGR of 5.5% from 2023 to 2032. Owing to advancements in medical technologies in developing countries that are used for total knee arthroplasty, a rapidly growing geriatric population, a surge in the number of sports-related injuries, and an increase in the number of road accidents.
Leading Market Players: -
-- Zimmer Biomet Holdings Inc
-- Smith & Nephew PLC
-- Stryker Corporation
-- Johnson & Johnson
-- B. Braun Melsungen AG
-- MicroPort Scientific Corporation
-- Olympus Corporation (Group FH Ortho)
-- Waldemar Link GmbH & Co. KG
-- United Orthopedic Corporation
-- X. NOV.
The report provides a detailed analysis of these key players in the global cementless total knee arthroplasty market. These players have adopted different strategies, such as product launches and innovation, to increase their market share and maintain dominant positions in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research
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