Throughout the projected period, the increased number of knee arthroplasty surgeries is likely to fuel development in the total knee arthroplasty market. Market participants are focused on conducting clinical studies for the efficacy and safety evaluation of knee replacement surgery, which is projected to promote total knee arthroplasty market growth throughout the forecast period. Moreover, a rising number of product launches and approvals is likely to help in market expansion over the forecast period. The rising frequency of U.S. Food and Drug Administration (FDA) recalls of knee replacement implants due to product failures, component inconsistencies, or compromised sterility concerns is predicted to limit growth of the worldwide total knee arthroplasty market size.
According to Coherent Marke Insights, the global Total Knee Arthroplasty Market is estimated to be valued at US$ 8,739.2 Mn in 2021, and is expected to exhibit a CAGR of 4.0% over the forecast period (2021-2028).
Some of the companies highlighted by Coherent Market Insights are:
1. DePuy Synthes
DePuy Synthes, The Orthopaedics Company of Johnson & Johnson, provides one of the most comprehensive orthopaedics portfolios in the world that helps heal and restore movement for the millions of patients we serve. The company was founded in 1895, headquartered in Massachusetts. On December 1, 2021, the Johnson & Johnson Medical Devices Companies announced that DePuy Synthes, acting through its affiliate, Synthes GmbH, has acquired the Israeli company, OrthoSpin, Ltd. OrthoSpin developed and manufactures a first-of-its kind technology – an automated strut system – which is used in conjunction with DePuy Synthes MAXFRAME™ Multi-Axial Correction System, an external ring fixation system. This acquisition is a clear example of Johnson & Johnson’s continued commitment to advancing innovation in the medtech space.
2. Zimmer Biomet Holdings
Zimmer Biomet Holdings, Inc., together with its subsidiaries, operates as a medical technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Zimmer Biomet Holdings, Inc. was founded in 1927 and is headquartered in Warsaw, Indiana. On Jan. 5, 2023 Zimmer Biomet Holdings, Inc. announced that it has reached a definitive agreement to acquire Embody, Inc., a privately-held medical device company focused on soft tissue healing, for $155 million at closing and up to an additional $120 million subject to achieving future regulatory and commercial milestones over a three year period. The acquisition is expected to be accretive to overall revenue growth and slightly dilutive to adjusted earnings per share in 2023. On Aug. 30, 2021 Zimmer Biomet Holdings, Inc and Canary Medical, a medical data company, announced U.S. Food and Drug Administration (FDA) De Novo classification grant and authorization to market the tibial extension for Persona IQ®, the world's first and only smart knee cleared by the FDA for total knee replacement surgery.
3. Microport scientific corporation
MicroPort Scientific Corporation, an investment holding company, manufactures, and markets, and distributes medical devices in the People's Republic of China, North America, Europe, other Asian countries, South America, and internationally. MicroPort Scientific Corporation was founded in 1998 and is headquartered in Shanghai, the People's Republic of China. On uly 2019, MicroPort® Orthopedics, a medical device company that develops and manufactures cutting edge joint replacement implants designed to help patients achieve full function faster, recently announced the launch of the Evolution® NitrX™ Medial-Pivot Knee System. The Evolution® NitrX™ Medial-Pivot Knee features a titanium niobium nitride (TiNbN) coating that has been shown in simulated clinical testing to reduce the release of cobalt (Co), chromium (Cr), molybdenum (Mb), and nickel (Ni) ions common in standard CoCr implants.The Evolution® NitrX™ Medial-Pivot Knee builds upon the same medial-pivot legacy of 95% patient satisfaction with 98.8% survivorship at 17 years.
4. CONFORMIS
Conformis, Inc., a medical technology company, develops, manufactures, and sells patient-specific products and instrumentation. The company offers personalized knee replacement products, including iUni, iDuo, a custom-made partial knee replacement option for either unicompartmental or bicompartmental osteoarthritis of the knee; iTotal CR, a cruciate retaining total knee replacement product; iTotal PS, a posterior stabilized knee replacement product, as well as provides iTotal Identity and Identity Imprint knee replacement products. Conformis, Inc. was incorporated in 2004 and is headquartered in Billerica, Massachusetts.on Aug. 01, 2022 (Conformis, Inc announced it has entered into a multi-year agreement with Vizient, Inc., the nation's largest member-driven health care performance improvement company.
5. Corin Group
Corin Group is leader in orthopaedic innovation, Corin has pioneered a number of landmark developments since it was founded in 1999. The company is headquartered in U.K acquired by Permira. On 6 March 2019 company Corin Group, has signed a binding agreement for the acquisition of US-based OMNI Orthopaedics Inc. (“OMNI”), a pioneer in robotic-assisted total knee replacement.
6. Exactech Inc.
Exactech is a global medical device company that develops and markets orthopaedic implant devices, related surgical instruments and the Active Intelligence® platform of smart technologies to hospitals and physicians. Headquartered in Gainesville, U.S. Exactech Announced New Branding Campaign On March 2023. On Feb 2018, EXACtech announced the successful completion of the merger agreement with TPG Capital. The company was founded in 1985.
7. colfax corporation
On August 2021, the subsidiary's parent company, Colfax Corporation, is acquiring Mathys AG Bettlach, a Switzerland-based company that develops and distributes products for artificial joint replacement, synthetic bone graft solutions, and sports medicine. The transaction is expected to close in Q3, subject to receipt of applicable regulatory approvals and the satisfaction of other closing conditions. The addition of Mathys will add a successful channel outside of the U.S. for DJO’s joint replacement products, including the clinically proven AltiVate Reverse® shoulder replacement system,i EMPOWR Hip and Knee Systems, and its foot and ankle solutions. The acquisition is also expected to strengthen DJO’s patient-focused innovation pipeline and broaden its reconstructive portfolio with the complementary addition of many clinically proven surgical solutions from Mathys,ii,iii including its RM Pressfit Vitamys Monobloc acetabular cup. The company was founded in 1985, headquartered in U.S.
8. Medacta Group SA
Medacta Group SA develops, manufactures, and distributes orthopedic and neurosurgical medical devices Europe, North America, the Asia-Pacific, and internationally. It offers personalized kinematic models and 3D planning tools for use in hip, knee, shoulder, sports medicine, and spine procedures. The company was founded in 1958 and is headquartered in Castel San Pietro, Switzerland. -Medacta International announced the acquisition of Austrian distributor Vivamed GmbH, effective 01 February 2017.
9. Smith & Nephew plc
Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices worldwide. Smith & Nephew plc was founded in 1856 and is headquartered in Watford, the United Kingdom. On January 2022, Smith+Nephew acquired novel cementless partial knee system. This acquisition strongly supports Smith+Nephew’s strategy for growth by transforming its business through innovation and acquisition, while also providing differentiation for its customers.
10. Stryker Corporation
Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. Stryker Corporation was founded in 1941 and is headquartered in Kalamazoo, Michigan. Stryker announces the acquisition of Gauss Surgical on 07-Sep-2021. Stryker completes acquisition of Wright Medical on 11-Nov-2020.
*Definition- Whole knee arthroplasty is a popular surgical technique used to relieve pain and restore function to a severely damaged knee joint in orthopaedic disorders such as osteoarthritis. This procedure includes removing damaged knee bones and replacing them with metal alloy implants and polyethylene polymers.
