The worldwide knee replacement market is estimated to reach USD 12.48 billion by 2027, growing at a CAGR of 4.3 percent during the forecast period. According to Fortune Business Insights, in a report titled "Knee Replacement Market Size, Share, and Industry Analysis, By Procedure (Total Knee Arthroplasty, Partial Knee Arthroplasty, and Revision Arthroplasty) By Implant Type (Fixed Bearing, Mobile Bearing, and Others) End-user (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, and Others) and Reg
The coronavirus outbreak has wreaked havoc on the global economy. We appreciate that this health issue has had a detrimental impact on a variety of industries throughout the world. Rising government and corporate assistance may aid in the fight against this extremely contagious illness. Some industries are failing, while others are booming. This pandemic is expected to have an influence on practically every industry.
The aging population will generate profitable prospects for the business in the next years. The yearly incidence of knee osteoarthritis in the United States is highest between the ages of 55 and 64, according to the Arthritis Foundation. The significant increase in the diagnosis of knee arthritis among the adult population is predicted to allow for rapid market development in the next years. The increased prevalence of knee osteoarthritis is a major factor driving market expansion. According to the Osteoarthritis Research Society International (OARSI), the prevalence of global knee osteoarthritis is expected to reach 5% as the population ages. The rising number of knee replacement procedures throughout the world is expected to boost the industry. Every year, more than 600,000 knee replacement procedures are performed in the United States, according to the Agency for Healthcare Research and Quality (AHRQ). Furthermore, the increase in healthcare spending is expected to create profitable prospects for the industry in the near future.