Knee Surgeries And Arthroplasty Pain Management Therapeutics Market is projected to grow from $3.9 billion to $6.2 billion, at a CAGR of 5% during the forecast period 2021-2030.
Knee surgery is used to help people with conditions that damage the knee, such as rheumatoid arthritis, osteoarthritis, and post-traumatic arthritis. There are several stages in the surgical procedure to replace a knee. Materials used in knee replacement devices include metal alloys, ceramics, and robust plastic components.
An rise in the elderly population will raise the need for knee surgery and, as a result, the demand for these devices because older people are more likely to experience knee problems. One of the most prevalent global health issues among adults over the age of 40 is knee-related illness. Around the globe, common joint problems include osteoporosis, osteoarthritis, back pain, and trauma. As a result, these factors are propelled to drive the market.
Market Dynamics:
Drivers:
The rise in sports injuries, the prevalence of arthritis, and the demand for arthritis treatments are the main drivers of the global knee pain management market. Over the course of the forecast period, technological developments and progress in joint replacements are anticipated to significantly contribute to the rise of the global knee pain management market.
Restraints:
Due to product recalls and medication side effects, the development of the global knee surgeries and arthroplasty pain management therapeutics market may be hindered. This is the main factor restricting the industry.
Opportunities:
The market for knee surgeries and arthroplasty pain management therapeutics is anticipated to expand over the forecast period due to an increase in the number of knee surgeries and arthroplasty procedures as well as increased awareness of these procedures. Great opportunities are pushed into this industry as a result.
Key Players:
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Pfizer Inc
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Allay Therapeutics
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Mallinckrodt
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Johnson & Johnson
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Zydus Cadila Healthcare Ltd
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Novartis AG
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Purdue Pharma
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Delphis Pharmaceutical
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Taj Pharmaceuticals Limited
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GlaxoSmithKline plc
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AbbVie Inc
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Aurobindo Pharma
Market Segmentation:
Knee Surgeries And Arthroplasty Pain Management Therapeutics Market, By Sales Channel
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Hospital Pharmacies
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Retail Pharmacies
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Online Pharmacies
Knee Surgeries And Arthroplasty Pain Management Therapeutics Market, By Type of medicine
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COX-2 inhibitors
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Acetaminophen
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Opioids
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Ketamine
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Non-steroidal Anti-inflammatories
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Others
Knee Surgeries And Arthroplasty Pain Management Therapeutics Market, By Region Type
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North America
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Europe
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Asia-Pacific
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LAMEA
Regional Analysis:
North America contributed to the major knee replacement devices market share in 2021. It is expected to continue to dominate over the forecast period owing to the increasing number of product approvals by the US FDA. Additionally, an increase in research activities to develop cost-effective and novel implants in developed North America has positively impacted the market growth.
The Asia Pacific region is expected to register the highest CAGR during the knee replacement devices market forecast period, owing to the increasing number of patients suffering from severe arthritis and rising awareness of minimally invasive surgical procedures. It is anticipated to be the fastest-growing region in this market.
Scope of the report:
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Report Coverage |
Details |
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Base year |
2021 |
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Forecast period |
2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
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YoY growth (%) |
XX% |
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Regional analysis |
The Middle East, Europe, North America, Latin America, Asia Pacific, and Africa |
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Current Market size |
USD 3.9 Billion |
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Forecast market growth |
USD 6.2 Billion |
User
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Introduction
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Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
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