LONDON--(BUSINESS WIRE)--Technavio research analysts have predicted the global cementless total knee arthroplasty market to grow at a CAGR of close to 24% during the period 2018-2022, according to their latest report.
One of the major trends being witnessed in the market is the growth in global medical tourism. Medical tourism denotes the movement of people from the country of their residence to another country to obtain medical treatment. Medical tourism is becoming a trend among people in developed countries. They travel to developing countries such as India, Thailand, and Singapore, to undergo knee arthroplasty surgeries. These developing countries have secured their names as some of the top destinations for low-cost and high-quality medical treatments and knee replacement surgeries. People from developed countries travel to these regions as they face the problem of high costs, long wait times before surgery, and the lack of expert surgeons and availability of facilities in their countries.
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In this report, Technavio analysts highlight the rise in the number of people diagnosed with arthritis as a key factor contributing to the growth of the global cementless total knee arthroplasty market:
Rising number of people diagnosed with arthritis
Arthritis is a disease that causes inflammation, pain, and stiffness of the joints. Arthritis can affect any of the joints in the body. It usually affects the knees, where the cartilage wears off over time. This type of arthritis is known as osteoarthritis and is common among older people and obese people. Knee replacement surgery or knee arthroplasty is often used to alleviate this condition and restore normative joint function.
According to a senior analyst at Technavio for orthopedics and medical devices, “It is estimated that in 2017, around 25% of the population in EU countries had rheumatic diseases. In the same year, over 30% of the US population had some form of arthritis and almost 10% of the population was diagnosed with osteoarthritis. By 2040, the number of people with arthritis is expected to increase significantly in the US. With the number of people diagnosed with arthritis increasing each year, the need for knee replacements is increasing across the globe.”
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Global cementless total knee arthroplasty market segmentation
This market research report segments the global cementless total knee arthroplasty market into the following products (fixed-bearing and mobile-bearing) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the fixed-bearing segment held the largest market share in 2017. It accounted for more than 62% of the overall market share. This product is anticipated to dominate the global market throughout the forecast period.
The Americas dominated the global cementless total knee arthroplasty market in 2017, accounting for a market share of over 48%. It was followed by the EMEA and APAC regions respectively. APAC is expected to project significant growth during the forecast period.
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