Knee replacement is a surgical method to resurface a knee damaged surgery is used to relieve pain and disability. Knee replacement can be performed by a partial or a total knee replacement. In partial knee replacement surgery, the knee is replaced either the inside part, the outside part of the kneecap part of the knee. The increasing investment in the healthcare sector, the geriatric population coupled with the demand for minimally invasive surgeries are major factors fueling the increasing adoption of joint replacement procedures. In addition, growing awareness of the knee replacement led an increased number of the adult population undergoing early knee replacement surgeries providing untapped opportunities in the countries like China, Russia and India are propelling the knee replacement market growth.
Technologically advanced implant material coupled with the development of the customized replacement implants has been forecasted to gain significant in knee replacement market. Knee replacement is a surgical procedure that decreases pain and improves the quality of life in many patients with severe arthritis of the knees. Typically patients undergo surgery after non-operative treatments have failed to provide relief of arthritic symptoms. Non-operative treatments include activity modification, anti-inflammatory medications, and knee joint injections.
According to study, “Asia-Pacific Knee Replacement Procedures Outlook to 2025” some of the major companies that are currently working in the Asia-Pacific knee replacement procedures are DepuysynthesInc, Zimmer Biomet holdings Inc, Stryker Corp, Wright medical group.
Some benefits of knee replacement surgery are included pain relief, knee joint function improvement, improved mobility and improved quality of life etc. Some risks and complications are involved in deep vein thrombosis, fractures, loss of motion, instability, and infection. Some signs of infection are included shaking chills, fever greater than 100 F (37.8 C), drainage from the surgical site, increasing redness, tenderness, swelling and pain in the knee etc.
On the basis of procedure, the knee replacement market is segmented into knee resurfacing procedures, partial knee replacement procedures, primary knee replacement procedures, and revision knee replacement procedures. On the basis of type, the market is segmented into the metal material, alloy material, and resin material. On the basis of application, the market is segmented into age below 45, age 45-65 and age above 65.
In India, knee replacement surgery has a high success rate primarily due to high-quality operation theatre & recuperation care, expertise & experience on the part of the surgeon, right choice of implant etc. Moreover, 450 types of implants are available constructed from durable plastic, stainless steel, cobalt alloys, and titanium or chrome. The cost of knee replacement surgery is between Rs 59,091 and Rs 4, 13,059.
In China, the cemented knee replacement devices are commonly used in. The major segments of the knee replacement market are a primary joint replacement, partial joint replacement, patellofemoral replacement, inter-positional knee implants, and knee revision. The cost of knee replacement surgery is $12,000 for one knee and $20,000 for both knees. In Russia, the cost of surgery is very high for knee replacement surgery and only 33-40% of people are hospitalized and only 13% receive surgical treatment. The cost is very high for knee replacement surgery, around $460,550.
The success rate of knee replacement market depends on some factors such as high-quality operation theatre & recuperation care, expertise & experience on the part of the surgeon, right choice of implant etc.
The future of knee surgery lies in biological reconstruction, allograft, 3D printed biological scaffolds, tissue engineering, growth factors, and stem cells. In the upcoming years, knee replacement surgery will be employed surgical robot assistants. Despite being a widely used procedure for curing extremely debilitating diseases, such as osteoarthritis, the knee replacement faces some major challenges like an economic slowdown in the countries like Brazil which is preventing the market slowdown. Some of the growth restraining factors of the knee replacement market has high surgery cost, increasing competition and growing awareness for some non-surgical treatment methods such as exercises, weight loss, walking aids, shoe inserts, and painkiller medicines. Additionally, Russian Federation organized many programs around exercise and nutrition, which will help patients for knee replacement surgery.
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Ankur Gupta, Head Marketing & Communications