TOTAL KNEE ARTHROPLASTY MARKET ANALYSIS

Market Challenges And Opportunities

Global Total Knee Arthroplasty Market- Drivers

• Implantable shock absorber: Implantable shock absorbers are revolutionizing the total knee arthroplasty market by providing patients with more natural movement and longevity of the implants. These new innovations allow implant joints to absorb shocks like natural knees, reducing stress on implants and making them last longer. For instance, on April 10, 2023, Moximed, a medical device company, announced that the U.S. Food and Drug Administration had approved the MISHA Knee System, an implantable shock absorber (ISA) for the knee. The MISHA Knee System is intended to treat people with medial knee osteoarthritis who failed to find relief from non-surgical or surgical treatment, are still experiencing pain that interferes with daily activities, and are ineligible for, or unwilling to undergo, joint replacement surgery due to age or the absence of advanced OA.
• Increasing incidence of arthritis: The increasing incidence of arthritis is a major factor driving the growth of the total knee arthroplasty market. According to an article published by the Lancet Rheumatology, an independent journal committed to publishing content relevant to rheumatology in September 2023, by 2050, 1 billion individuals are expected to have osteoarthritis globally, the most frequent type of arthritis. Osteoarthritis affects 15% of people aged 30 and over. The main causes of osteoarthritis include aging, population growth, and obesity. The same study found that osteoarthritis affected 595 million people in 2020.

Global Total Knee Arthroplasty Market- Opportunities

• Geographical expansion: Major players in the knee implants industry from the U.S. and Europe are actively looking to establish manufacturing and distribution networks in emerging and developed markets through acquisitions, joint ventures or contractual agreements. For instance, on April 5, 2023, Medacta announced the grand opening of its expanded distribution center in Memphis, U.S., which become operational on March 6, 2023. Medacta Americas Operations (MAO) will now occupy nearly 108,000 square feet in this newly constructed building, which will support all aspects of operations and distribution from a single location.
• Increase in medical tourism: Medical tourism is emerging as a great opportunity for the total knee arthroplasty market. As healthcare costs continue to rise in developed nations, more patients are looking to countries like India and Thailand, which offer quality knee replacement surgeries at a fraction of the cost. According to an article published by Med Tourism Co, LLC, an international medical travel company, the overall cost of knee replacement surgery in Delhi, NCR, is up to 70% less than in the U.K. and the U.S., including hospital stays and implants.
• Patient-specific knee implants: Patient-specific knee implants offer a great opportunity in the total knee arthroplasty market. With advancements in 3D printing and imaging technologies, it is now possible to precisely replicate the anatomical features of a patient's knee using medical imaging data. Surgeons can utilize custom implants tailored for each individual patient's knee anatomy and alignment requirements. This personalized approach can potentially provide a better postoperative fit and natural movement compared to traditional off-the-shelf implants.

Global Total Knee Arthroplasty Market- Restraints

• High cost of surgery and implants: The high cost of surgery and implants is significantly restraining the growth of total knee arthroplasty market. Knee replacement surgery is an expensive procedure that comes with a heavy financial burden. The average cost of a standard knee replacement surgery in the U.S. ranges from US$30,000 to US$50,000 depending on the hospital and location. This does not include the costs associated with knee implants and prosthetics, which can add another US$3,000-US$15,000 to the overall bills. Many patients are unable to afford such huge medical expenditures through their insurance coverage or out-of-pocket expenses.
• Risk of complications associated with surgery: The risk of complications associated with total knee arthroplasty (TKA) surgery is one of the major factors restraining the growth of the TKA market. TKA surgery, while effective in reducing pain and improving mobility for patients with knee arthritis, does carry risks of procedural complications. Some of the common complications of TKA include infection, implant loosening or failure, stiffness, instability, implant wear, nerve or blood vessel injury, blood clots in the leg veins or lungs, and allergic reactions to materials used during surgery. According to the National Health Service, a comprehensive public-health service under the government administration of Great Britain, due to the way blood flows and clots after surgery, blood clots, or DVT (deep vein thrombosis), are possible following a knee replacement. A blood clot that forms in the leg can sometimes go to the lungs (pulmonary embolism). This can lead to major complications. Furthermore, a blood artery, nerve, or ligament around the knee joint may be injured during surgery. This is uncommon and can be fixed during surgery or healed afterwards.