Knee Implant Market Research Report Forecast to 2024

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Knee Implant Market - U.S. Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2016 2024
Dominated by Jo hnson & Johnson, Zimmer Biomet Holdings Inc., Smith &
Nephew, and Stryker Corp., the U.S. knee implant market demonstrates a
highly consolidated and competitive landscape, states a new research report by
Transparency Market Research (TMR). With a share of nearly 85%, these
players ran almost the whole market in 2015.
The leading implant manufacturers enjoy a broad presence across the U.S.
Their comprehensive product portfolios and cross-selling strategies have
ensured their dominance over this market in the last few years. However, over
the forthcoming years, th ese players are expected to focus on new product
launches in order to strengthen their presence in the U.S. market for knee
According to the research study, the U.S. market for knee implant offered an
opportunity worth US$4.3 bn in 2015. Expanding at a CAGR of 5.30% during
the period from 2016 to 2024, the market is projected to reach US$7.0 bn by
the end of the forecast period. Hospitals demand a higher number of knee
implants than other end users in the U.S. and are expected to remain doing so
over the forthcoming years.
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In this research study, the U.S. market for knee implants has also been studied
on the basis of its geographical presence. The Pacific region, the Mountain
region, the South Central region, the Midwest region, the South Atlantic
region, and the North East region have been considered as the prime
geographical subdivisions of the U.S. knee implant market. The Midwest
region has acquired the leading position in this market. The availability of
numerous ambulatory surgical centers present in this region is the key factor
behind this rise. The augmenting adoption of new technologies is also
supporting this geographical segment in maintaining its lead.
The market for knee implants in the Midwest region is likely to remain
dominant throughout the forecast period. The presence of a large pool of knee
implant manufacturers and a massive and effective distribution channel are
expected to aid this regional market to remain leading over the next few years.
“The ever-increasing geriatric population is the key factor behind the rise of
the U.S. knee implant market,” states an analyst at TMR. With the increasing
age, cartilages become prone to strain, owing to less water content, leading to
arthritis and cushioning at the joints, which requires knee replacement
procedure. Moreover, other connective tissues, such as ligaments attached to
the bones, begin becoming less flexible and more constrained, which also add
to the need for these procedures. Thus, the increase in the geriatric population
in the U.S. is reflecting positively on the U.S. market for knee implants.
Apart from this, the rising incidence of accidental injuries, surging prevalence
of chronic rheumatic conditions, growing obese population, and the increasing
adoption of advanced knee products and procedures are also propelling the
demand for knee implants in this country.
On the other hand, strict regulations implemented by the FDA on knee implant
products, knee implant product recall by the FDA, and the rising awareness of
non-surgical alternative treatment among consumers may hamper the growth
of this market to some extent in the near future, states the report.
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