Report: The European revision knee replacement market to witness a CAGR of 2.3%

1 June 2017 (Last Updated June 1st, 2017 18:30)

The revision knee replacement market in Europe is expected to grow modestly from $259m in 2016, to $304m by 2023, representing a compound annual growth rate (CAGR) of 2.3%, according to a report from GlobalData.

Report: The European revision knee replacement market to witness a CAGR of 2.3%

The revision knee replacement market in Europe is expected to grow modestly from $259m in 2016, to $304m by 2023, representing a compound annual growth rate (CAGR) of 2.3%, according to a report from GlobalData.

Titled ‘MediPoint: Revision Knee Arthroplasty – Europe Analysis and Market Forecasts’, the report which covers 21 European countries, states that the mature nature of the European market and lack of major innovations over the last decade is the reason for the modest growth rate.

Health executives are also procuring orthopaedic devices through multiple channels at highly competitive prices, effecting profit margins.

The correlation of revision knee replacement with total knee arthroplasty (TKA) is expected to divert the growth of the market towards multiple paths in the future. The market is anticipated to move towards investments in expensive capital equipment such as robots that can lead to consistent implant replacement with less soft tissue damage.

"The market is anticipated to move towards investments in expensive capital equipment such as robots that can lead to consistent implant replacement with less soft tissue damage. "

Alternatively, inexpensive generic implants usage may increase, reducing surgery costs but increasing revision rates. Both these scenarios will depend on the advancements in technologies such as 3D printing and telerobotics, opines GlobalData healthcare analyst Tobe Madu.

Early surgical intervention in younger patients and better insurance coverage in emerging economies is also projected to increase the volume of revision knee replacement procedures in tandem with primary knee replacements.

The report also foresees an overall decline in the average selling price of primary revision knee replacement implants due to increase in competition, and reduction in reimbursements. Effective marketing that provides a clear value proposition of a joint portfolio will play a key role in the success of companies, Madu adds.