Albany, NY -- (SBWIRE) -- 10/11/2012 -- Knee implant procedures are done when a patient has knee pain, a traumatic injury or a disability from rheumatoid arthritis, or osteoarthritis. In the surgical process, a surgeon implants the device (artificial device) and replaces the damaged knee with it. There are many different types of implants - which are made of metal alloys, strong plastic parts or ceramic material.
The knee implants market will grow due to factors such as increase in the rate of age related diseases like osteoporosis and arthritis, diabetes, obesity, ageing population and injuries related to sports. However due to technological advances such as minimal invasive surgery, better implant materials and better success rates, even the younger population are able to undergo knee replacement surgery.
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Technological advancements in knee implants such as minimally invasive surgery have made it possible to have procedures with small incisions, lower blood loss, lesser tissue injuries and faster recovery time. Growing awareness among patients regarding their health will also help to drive the market.
The knee implants market has had to face some challenges due to the economic slowdown. This has resulted in many hospitals cutting down their costs to increase their market share. Many patients are reluctant to go in for knee implantation procedures due to the high cost involved. Further, the knee implant market is also showing pressure due to the intense competition among manufacturers on the prices.
Presently, in this emerging market, both patients and surgeons have more options for implant due to the newer available techniques which are giving better outcomes for patients. This has given options for implant manufacturers companies to provide new product solutions.
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The global knee implants market was USD 8.4 billion in 2011 and it is forecasted that this market will reach USD 15 billion in 2018 with compound annual growth rate of 8.64% during 2011 to 2018. The U.S. and Europe are the two big markets for knee implants and both the countries enjoy more than 70% market share of global knee implants.
The leading players in the knee implants market are B.Braun, Smith and Nephew, Stryker, Zimmer, and Depuy. They accounted for almost 80% of the total market. Zimmer is the market leader among them with 30% market share. The medical device manufacturing companies are increasing their market share with marketing campaigns and awareness.
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