The reconstructive knee replacement market is expected to grow at a compound annual growth rate of 5.5 percent through 2020, according to the Freedonia Group.
Here are five takeaways:
1. The market will likely reach $5 billion in 2020.
2. The increase in osteoarthritis cases among the aging population as well as advancements in technology and materials will spur market growth.
3. Unfavorable reimbursement rates and non-surgical alternatives will hinder market growth, however.
4. Implants account for between 12 percent and 15 percent of the cost of knee replacement surgery.
5. Knee replacement systems contract prices are between $3,000 for partial reconstructive models and more than $10,000 for rotating platform models.