The knee reconstruction market in India is expected to grow at a compound annual growth rate of about 9% between 2021 and 2030, driven by growing number of trauma cases, rapidly aging population and increasing prevalence of obesity, forecasts GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Knee Reconstruction (Orthopedic Devices) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’, reveals that the Indian knee replacement market is dominated by large multinational companies such as Zimmer Biomet Holdings Inc, Stryker Corp, DePuy Synthes Inc and Smith & Nephew Plc, together accounting for about 70% of the market in 2021.
Shweta Yadav, Medical Devices Analyst at GlobalData, comments: “With an increase in aging population, there is a rise in the prevalence of osteoarthritis and rheumatoid arthritis, resulting in growing demand for knee reconstruction, especially in the elderly group of patients.”
Primary or total knee replacement is the mostly performed procedure in India, accounting for around 70% of the knee reconstruction market. Within primary knee replacement procedures, cemented implants are widely recognised as the gold standard, contributing to around 60% of the primary knee replacement market.
Yadav concludes: “While India’s knee replacement is expected to grow at a faster rate than any other country in the Asia-Pacific region through the forecast period, several patients in rural areas and smaller cities lack access to these procedures. Continued efforts to bring joint replacement technologies to these patients will further expand the market.”