New Medical Devices research report from GlobalData is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 12/25/2013 -- The current knee replacement market is a crowded space, with an increasing number of companies offering a myriad of partial, primary/total, and revision prostheses to meet orthopedic surgeons' demands in the management of knee diseases, primarily osteoarthritis. Worldwide, the primary/total knee segment represents about 80-90% of the entire knee market, with the remainder being partial knee and revision knee. Overall, clinical data show that short- to medium-term survivorship is excellent after almost all common types of knee replacement, regardless of fixation, constraint, and bearing type. Future competition among vendors will be more likely to center on the instrumentation and the ancillary equipment, such as patient-specific instruments, navigation systems, and robotic systems.
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The expanding patient population for surgical treatments, widespread appreciation of the clinical efficacy of knee replacements, and technological advancement from the supply side have all contributed to a stable increase in the procedure volume of knee replacements. However, the recent global economic downturn has resulted in intensified budget constraints in the US and EU (European Union) healthcare systems, with a particular focus on limiting spending on high-volume surgeries. As the downward pricing pressures continuously offset the rise in procedure volume, and cost-containment initiatives directly impact the adoption of premium-priced devices and technologies, the market revenue is only going to grow at a slower pace.
Key Questions Answered
- While medical innovations that cater to younger, more physically active patients have led to an expanded adoption of knee replacement in treating degenerative knee diseases, the modest growth in procedure volume is largely offset by the lingering softness in the global economy. How are governments' cost-containment measures affecting the procedure volume and market revenue of knee replacement?
- In the years to come, launching and marketing a comprehensive knee portfolio with a clear value proposition will remain critical to companies' success as they jockey for market position. What are the most important product features and designs surgeons like about current systems? What features would they like to see in future product iterations?
- Orthopedic surgeons hold varied opinions upon adopting computer-assisted technologies in knee replacement surgeries. What are the current adoption levels of these technologies in different countries? What are the major drivers behind companies' current focus on patient-specific instruments?
- Orthopedic giants dominate more than 80% of the global knee market. Who are the current and future players in this market? How will small- to mid-cap companies leverage their portfolios to navigate the competitive landscape?
Companies Mentioned in this Report: B. Braun, Biomet, Corin Group, DePuy Synthes, DJO Global, Exactech, Lima Corporate, Medacta, Smith & Nephew, Stryker, Waldemar LINK, Wright Medical Group (MicroPort), Zimmer Holdings, Other Established Players, erging Players, Blue Belt Technologies, ConforMIS, MAKO Surgical, OmniLife science
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