CLEVELAND, Nov. 21, 2016 /PRNewswire/ -- Demand for reconstructive knee replacements is forecast to increase 5.5 percent annually to $5.0 billion in 2020. The rising incidence of severe osteoarthritis conditions in the aging population will underlie gains. Growth will also benefit from improvements in technology and materials, but will be moderated by limits imposed on health insurance reimbursement rates as well as by the availability of non-surgical alternatives to knee replacement, such as hyaluronic acid injections and reinforced braces. These and other trends are presented in Medical Implants in the US, 6th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Since they were introduced in 1974, knee implants have evolved from simple hinged devices to sophisticated, multiple component configurations that mimic the natural action of the knee. On average, implants make up about 12 to 15 percent of the cost of knee replacement surgery. Contract prices of knee replacement systems start at about $3,000 for partial reconstructive models and range up to more than $10,000 for rotating platform models. Average unit prices are expected to decrease gradually due to healthcare cost containment pressures. The most widely used type of reconstructive knee replacement is the fixed-bearing model. These models cap the tibia with a flat metal component that holds a plastic spacer securely in place.
Medical Implants in the US, 6th Edition is a comprehensive look at the medical implants market including orthopedic implants (reconstructive joint replacements, orthobiologicals, spinal implants, trauma implants and dental implants; cardiovascular implants (pacing devices, cardiac stents and structural cardiac implants); and other types.
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About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, market share information and profiles of the leading industry players. Reports can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group