U.S. Knee Implant Market: Snapshot
The U.S. market for knee implants a matured market and projected to witness steady growth over the forthcoming years. The technological advancements in knee implants, such as the usage of 3D printing, biocompatible materials, robotic-assisted surgeries, and navigation technology are likely to drive this market in coming years. Apart from this, the increasing health care expenditure and the rising population of geriatric individuals are also anticipated to contribute to the growth of this market significantly.
The U.S. knee implant market stood at US$4.3 bn in 2015 and is expected to protrude at a CAGR of 5.30% between 2016 and 2024 and reach US$7.0 bn by 2024.
Hospitals to Remain Key End Users of Knee Implants
Hospitals, ambulatory surgical centers, and specialized orthopedic clinics are the main end users of knee implants in the U.S. The demand for knee implants is much higher from hospitals than other end users. The hospitals segment held a share of more than 43% of the overall demand for knee implants in the country in 2015. With the presence of hospitals in a very large number, this segment is likely to remain the topmost end user of knee implants in the U.S.
Ambulatory surgery centers are also expected to emerge as a lucrative end-use segment for knee implant manufacturers in the U.S. over the next few years. As these centers offer modern health care facilities and emphasize on providing same-day surgical care, including diagnostics and preventive procedures, which has begun to reflect positively on the demand for knee implants from these centers. Apart from this, the shifting preference of patients from hospitals to ambulatory service centers, owing to the after care services, cost-effective care, and minimally invasive surgeries provided by the latter, is also projected to influence the demand for knee implants from these centers in the near future.
Midwest Region to Lead U.S. Knee Implant Market
The U.S. market for knee implants has its presence across the Pacific region, the Mountain region, the South Central region, the Midwest region, the South Atlantic region, and the North East region. The Midwest region has been leading this market, thanks to a number of ambulatory surgical centers present in this region. The increasing uptake of new technologies is also supporting the progress of the market for knee implants in Midwest region.
The presence of a large pool of knee implant manufacturers and a widespread distribution channel are likely to maintain the growth pace of this regional market, ensuring its lead over the next few years. Indiana, followed closely by Virginia, has been generating higher revenues than other states in the U.S. The high number of hospitals and the mounting osteoarthritic burden due to the baby boomer population are the key factors propelling these domestic markets in the country.
Led by Johnson & Johnson, Zimmer Biomet Holdings Inc., Stryker Corp., and Smith & Nephew, the U.S. market for knee implants is highly consolidated in nature. The other significant players operating in this market are B. Braun Melsungen AG, Exactech Inc., DJO Global Inc., ConforMIS, OMNIlife science, Inc., MicroPort Scientific Corp., and Arthrex.
U.S. Knee Implant Market: Overview
This report on knee implant market studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in the manufacture and commercialization of various implantable medical devices and products as well as new entrants planning to enter this market.
This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered within the scope of the study. This section also provides the overall information and data analysis of the U.S. knee implant market with respect to the leading market segments based on major products, implant materials utilized, end-users, and geographies.
U.S. Knee Implant Market: Research Methodology
The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the knee implant market and could influence the market in the near future. Market attractiveness analysis has been provided in all the sections of the report in order to explain the intensity of competition in the market across different products/materials/end-users/geographies. The competitive scenario among different market players is evaluated through market share analysis in the competition landscape section of the report.
The section also includes completion matrix that analyzes the competition among some of the top global players operating in the market. The report further analyze knee implant business challenges, raw material and inventory procurement scenario in the U.S., knee implants market opportunity/demand distribution, by state, pricing analysis and knee implant supplier life cycle management. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global market.
U.S. Knee Implant Market: Segmentation
The U.S. knee implant market has been studied based on major product segments, material segments, their end-users, and regional markets. Based on product type, the U.S. knee implant market has been categorized into three major segments: total knee reconstructive implants (further sub-segmented into fixed bearing implants, mobile bearing implants, medial pivot implants and others), partial knee reconstructive implants and revision knee reconstructive implants.
Based on material, the U.S. knee implant market has been categorized into five major segments: stainless steel, Cobalt-Chromium alloys, Titanium and Titanium alloys, polyethylene, ceramics and others (uncemented implants, Tantalum, Zirconium etc.). Based on end-user, the U.S. knee implant market has been categorized into three key segments: hospitals, specialized orthopedic clinics and ambulatory surgery centers (ASCs). Geographically, the implantable medical devices market has been segmented into six regions across the U.S.: Pacific region, mid-west region, mountain region, south-central region, south-Atlantic region, and northeast region.
The market for these segments has been extensively analyzed based on their utility, effectiveness, sales, and geographic presence. Market revenue in terms of US$ Mn and market volume in terms of units for the period from 2014 to 2024 along with the compound annual growth rate (CAGR %) from 2016 to 2024 are provided for all segments, considering 2015 as the base year.
U.S. Knee Implant Market: Competitive Analysis
The report also profiles key players operating in the U.S. knee implant market based on various attributes such as company details, SWOT analysis, strategic overview, financials, and business overview. Major players profiled in this report include Johnson & Johnson, Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, Exactech, Inc., DJO Global, Inc., Stryker Corporation, ConforMIS, Smith & Nephew plc, OMNIlife science, Inc., MicroPort Scientific Corporation and Arthrex.
The U.S. Knee Implant market has been segmented as follows:
- Total Knee Replacement Implant
- Fixed Bearing Implants
- Mobile Bearing Implants
- Medial Pivot Implants
- Partial Knee Replacement Implants
- Revision Knee Replacement Implants
- Stainless Steel
- Cobalt-chromium Alloys
- Titanium and Titanium Alloys
- Other (Uncemented Implants, Tantalum, Zirconium)
By End User
- Specialized Orthopedic Clinics
- Ambulatory Surgical Centers
- Pacific Region
- Midwest Region
- Mountain Region
- South Central Region
- South Atlantic Region
- Northeast Region