By: 17 September 2024
Knee replacement innovations to reshape competitive landscape of orthopaedic market

The knee replacement market is currently experiencing a significant transformation, driven by innovative technologies and materials.

Key innovations such as the application of nanotechnology in orthopaedic implants, the increasing use of kinematic alignment (KA), robotic surgery and artificial intelligence (AI) in knee replacement procedures are at the forefront of this evolution. These innovations are not only improving patient outcomes but also reshaping the competitive landscape of the orthopedic market, says GlobalData, a data and analytics company.

According to GlobalData, the global knee replacement market is projected to register a compound annual growth rate (CAGR) of 3.16% between 2024 and 2033.

Elia Garcia, Medical Analyst at GlobalData, comments: “Patients are increasingly seeking treatments that are tailored to their unique anatomical needs, and KA offers a solution that aligns with this demand. Another advancement in the knee replacement market is the introduction of nanotechnology in orthopaedic implants. The use of robotics and AI in knee replacement surgeries allows for more accurate implant placements and reduced surgical times. As these technologies continue to mature, the knee replacement market is poised for sustained growth.”

A revolutionary and recently patented implant coating, developed by Flinders University in collaboration with Chinese researchers, utilizes nano-amalgamated silver-gallium (Ag-Ga) particles that can be easily applied to the surface of medical devices. This innovative coating has been shown to significantly reduce the risk of postoperative infections and promote osseointegration, ensuring that the implant bonds effectively with the patient’s bone, thereby reducing the likelihood of implant failure.

Garcia adds: “In addition to these innovations, major players in the orthopaedic market are making strategic moves to enhance their portfolios with acquisitions and partnerships focused on robotic assistance and AI-driven surgical guidance.”

Zimmer Biomet, for instance, recently acquired OrthoGrid Systems and entered into a collaboration with THINK Surgical. These strategic initiatives underscore the industry’s shift towards integrating advanced technologies to improve surgical precision and patient outcomes.

Garcia concludes: “Technological developments in nanotechnology, KA, robotics, and AI are driving the expansion of the knee replacement market. Companies that continue to invest in R&D and embrace these cutting-edge technologies are likely to lead the market in the coming years. The ongoing evolution of knee replacement procedures will likely result in higher patient satisfaction rates, reduced revision surgeries, and overall market expansion.”

 

Source: GlobalData

Image: Canva