The move of knee implant surgeries to ambulatory surgery centers (ASCs) is among technological advances driving growth in what was considered a mature market. According to a recent article in Becker’s ASC Review, a new Transparency Market Research report suggests knee surgery moving into ASCs is one driver of projected growth in the U.S. knee implant market.
The research report says advancements in knee implants, such as the usage of 3D printing, biocompatible materials, robotic-assisted surgeries, and navigation technology are likely to drive steady growth in the knee implant market in coming years. These technologies, plus advances allowing minimally invasive techniques, have enabled a shift of surgeries from the hospital setting to ASCs. In addition, the study reports, increasing health care expenditures and the rising population of geriatric individuals are also anticipated to contribute significantly to the growth of this market.
And, according to the research, ASCs impact demand for knee surgery as well, suggesting that surgery centers “…offer modern health care facilities and emphasize on providing same-day surgical care, including diagnostics and preventive procedures, which has begun to reflect positively on the demand for knee implants from these centers. Apart from this, the shifting preference of patients from hospitals to ambulatory service centers, owing to the aftercare services, cost-effective care, and minimally invasive surgeries provided by the latter, is also projected to influence the demand for knee implants from these centers in the near future.”
The Becker’s article summarized key findings from the new study:
- Patients and physicians alike are beginning to prefer knee surgeries in the ASC when appropriate, due to higher quality and lower costs. As a result, ASCs are expected to emerge as a lucrative end-use segment in the knee implant market for U.S. manufacturers.
- That said, more than 43 percent of the demand for knee implants is within the hospital segment, and hospitals are expected to remain a top end user over the next few years as well.
- Valued at $4.3 billion in 2015, the U.S. knee implant market is expected to reach $7 billion by 2024.
- Three factors influence the fact that the Midwest leads the U.S. knee implant market: a high number of ASCs in the region, several major knee manufacturers are based in the Midwest, and surgeons in the region are readily implementing new technologies. Indiana has generated higher revenue than any other state in the U.S. from knee implants.