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Knee Implants Market Analysis By Procedure Type (Total, Partial, Revision Knee Replacement), By Component Type (Fixed-Bearing, Mobile-Beari-2017 China(Guangzhou) Int’l Bearing and Equipment Exhibition
12/7/2016 Bearing and Equipment expo |
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The global knee implant market was valued at USD 8.8 billion in 2015 and is expected to reach a value of USD 12.4 billion by 2024. This growth is majorly attributed to growing elderly population and surging prevalence of chronic rheumatic conditions such as osteoarthritis, rheumatoid arthritis, and post-traumatic arthritis. Primary factors that lead to the occurrence of arthritis are aging, physical injuries, genetic inheritance factors, abnormal metabolism, infections, and immune system abnormalities.
Introduction of advanced technologies and products for are anticipated to keep the industry rivalry and market growth at par over the forecast period. For example, X3 Advanced Bearing Technology and Mako Robotic-Arm Assisted Technology with capabilities of providing patient-specific 3-D model to plan partial knee replacement surgery. Also, in March 2016, Zimmer Biomet launched the Persona Medial Congruent Bearing, which is designed to provide a more natural motion of the knee by maximizing joint stability.
The increasing investment in healthcare sector, geriatric population coupled with demand for minimally invasive surgeries are major factors fueling the increasing adoption of joint replacement procedures. In addition, untapped opportunities in developing economies such as China, and India are further anticipated to propel the knee implant market growth.
On the contrary, the stringent regulatory guidelines involved in gaining approval of class III medical devices are slowing down the approval of implants devices.
-2017 China(Guangzhou) Int’l Bearing and Equipment Exhibition
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