Lingering effects from the Covid-19 pandemic in the knee implant surgeries market
The pandemic led to a spate of postponed and cancelled surgeries that temporarily depressed the global market for knee implants. Although the market is now returning to pre-Covid levels, the expected surge from clearing the significant backlogs has yet to arrive. Other factors also make the resumption of normal demand difficult to predict.
Over the past 20 years, an ageing global population, more sedentary and less active lifestyles, technological advances and decreasing production costs have all made orthopaedic implants for knee replacement surgery a real growth industry.
But, like so many other global industries and services over the past couple of years, the market for knee implants has been hit hard by the Covid-19 pandemic. Ali Madani is the founder and head of Avicenne Medical, one of the world’s leading consultancies on the market for orthopaedic medical devices. He has some stark findings to share.
“The global market for knee implants fell by 21% between 2019 and 2020. Although there wasn’t the strong level of growth enjoyed between 2000 and 2010, the market had had a healthy compound annual growth rate of 3.9% between 2015 and 2019, so it’s clear that the pandemic had a dramatic braking effect,” he says.
So, how has Covid-19 affected knee implant surgery? Is it just a case of clearing a backlog of postponements to rebound? Is the market otherwise strong?
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