GlobalData Plc

The European revision knee replacement market, which covers 21 countries, is set to rise modestly from around $259m in 2016 to just over $304m by 2023, representing a compound annual growth rate of 2.3%, according to GlobalData, a recognized leader in providing business information and analytics.

The company’s latest report states that knee reconstruction is a fully mature market that has experienced no major innovation over the last decade, and only incremental improvements. As health executives are scrutinizing purchases and using multiple channels to procure orthopedic devices at highly competitive prices, profit margins have been negatively affected. As such, revenue growth is dwindling in the global large joint reconstruction space.

Tobe Madu, MSc, Healthcare Analyst for GlobalData, explains: “Since revision knee replacement is highly correlated with total knee arthroplasty (TKA), there are multiple paths that the market could take as this space develops, each of which are dependent on the market dynamics of TKA. On one hand, investments could be made into expensive capital equipment, such as robots, which will result in consistent, reproducible implant replacement, less soft tissue damage, and less rehabilitation, leading to lower revision surgery cases.

“On the other hand, the use of inexpensive generic implants could decrease the direct cost of surgery but increase the rate of revisions. The rate of advancement in technologies such as 3D printing and telerobotics will highly influence how these two alternatives scenarios play out to affect the rate of revision knee procedures.”

The procedure volume for revision knee replacements is expected to grow proportionally with that of primary knee replacements due to the demographics of an aging population, a trend towards early surgical intervention in younger patients, and further improvements in insurance coverage in emerging countries.

Madu concludes: “In the years to come, launching and marketing a comprehensive large joint portfolio with a clear value proposition will remain critical to companies’ success as they jostle for market position. A long-term foothold within the global knee market will predicate companies’ success in revision knee replacement, and given the heightened competitive pressures and shrinking reimbursement in this space, GlobalData expects the average selling price for primary revision knee replacement implants to decline in all 21 markets.”

Information based on GlobalData’s report: MediPoint: Revision Knee Arthroplasty – Europe Analysis and Market Forecasts.

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