Knee Replacement Market Synopsis:
Knee Replacement Market Size Was Valued at USD 9.75 Billion in 2023, and is Projected to Reach USD 24.20 Billion by 2032, Growing at a CAGR of 10.63% From 2024-2032.
The Knee Replacement Market is a segment in the Orthopedic Medical Devices market that mainly deals with implantable devices for use in knee replacement surgeries. Knee replacements are performed to alleviate pain and recover mobility in patients with knee joint conditions that include osteoarthritis, rheumatoid arthritis or trauma related knee joint damage. It holds varieties of products such as partial and total knee implant, new material/ technology development to enhance the quality of surgery.
The market of knee replacement has continuously witnessed growth in recent years because of increasing incidence of arthritis, growth of geriatric population base, as well as enhanced technology. Knee replacement surgery is today one of the most widespread orthopedic interventions that is mainly related to osteoarthritis prevalence in the elderly population. Advanced technologies in implantation of materials for example metallic and ceramic materials have enabled the durability of the knee implants than before and the advancement in surgical process that enables shorter surgical operations and short recovery periods for the patients. Furthermore, through the use of computer aided and robotic aided surgeries the operations have enhanced precision and efficiency of knee replacement surgeries.
This is a well developed market with high levels of competition that have seen leading companies make large investments in their R&D programs. Thus, emerging economy countries demonstrate significant opportunities for market growth arising from the development of health care consciousness, improving accessibility to health-care centers, and actions of states to upgrade health care facilities. Also, the increasing need for superior and individualized treatment solutions has prompted new knee implant innovations and 3D knee solutions for patients. The industry is still growing and in an effort to meet the expanding market need for knee replacement surgeries, organisations are focusing on developing new products as well as partnerships with healthcare organisations.
Knee Replacement Market Trend Analysis:
Rising Adoption of Robotic-Assisted Knee Replacement Surgeries
- A major ongoing trend in knee replacement industry is the shift towards surgical robotic systems to increase accuracy and decrease adverse events after the procedure. These systems, for example, the Stryker’s Mako, help the surgeon in modelling the knee in detailed 3D and hence are accurate in implanting the knee in the right direction and in case of misalignment. First, robotic systems reduce human variability and are effective when exploring intricate regions of the body or specific patients’ anatomies that are difficult to operate on conventionally.
- Robotic traceability also has benefits in terms of recovery time less than intervention time the rate of complications such as post-interventional infections, lower than other interventions. Thus, the demand for robotic systems is escalating as more hospitals and surgical centers are operating and as patients call for introducing more progressive surgical tools. As knowledge in AI and machine learning progresses in the field of surgical robotics the robotic assisted Knee Replacement surgeries are poised to become the industry norm thereby strengthening and expanding the market.
Expansion in Emerging Markets
- New opportunities are available to the knee replacement markets in Asia-Pacific, Latin America, and the Middle East. Burdensome cost of healthcare and increased awareness about new techniques for repairing knees have created demand for knee replacements in these regions. Developing countries like India, China and Brazil also are experiencing a steep growth in arthritis and conditions that affect the knee; more people in these countries are requiring knee replacements which must be inexpensive and widely available.
- As the result of this opportunity, the staking players are deepening their market penetration in the mentioned markets through partnerships with the domestic healthcare companies, new market coverage and the promotional campaigns. Additional government policies to improve the availability of the healthcare facilities in these regions continue to act as a boost to the growth of the market. The accessibility of healthcare is also increasing and as a result the market for knee replacement in emerging economic countries will bring the companies new sources of revenue.
Knee Replacement Market Segment Analysis:
Knee Replacement Market is Segmented on the basis of Implant Type, Procedure, End User, and Region.
By Implant Type, Mobile bearing segment is expected to dominate the market during the forecast period
- Mobile Bearing Implants: Mobile bearing implants provides for rotational movement between the two components of the implant imitating the natural movement of the human knee. These implants are generally considered to be longer lasting and to have a lower wear and tear factor and may prove especially suitable for the younger patient who continues an active existence. However, it can be mentioned that the use of mobile-bearing implants turned out to be somewhat more effective, as the implants’ structure is more complex than in the case of fixed-bearing ones; that is why, it is necessary to pay special attention to the accurate surgical placement of the implant.
- Fixed Bearing Implants: Cemented type of stem is the most frequently applied type of stem in knee replacement surgeries because it offers stability and manageable insertion. These implants are known to be very strong – which can be beneficial for older people who carry out less physical work. Reseatable implants are used commonly due to the lower cost and the ease with which the surgery can be performed.
By End User, Hospitals segment expected to held the largest share
- Hospitals: Bearing most of the knee replacement surgeries globally make hospitals the largest end-users in the knee replacement market. Menu Of Specific, Observed Strategies Hospitals best address the specific complexities of Knee replacement surgery: The availability of advanced medical technology, special ze surgeons and comprehensive post operation care.
- Orthopedic Clinics and Ambulatory Surgical Centers (ASCs): ASCs and orthopedic clinics are proving to be more and more popular with patients due to the options of convenience, lower cost, and short waiting times. Specifically, for procedures such as knee replacements, ASCs have many advantages for patients, as they involve mostly first-time, ambulatory patients with relatively minimal levels of surgical severity. As such, the patient role shift, reflected in the increase of knee replacement procedures in outpatient settings, is expanding outpatient service accessibility and lowering the overall costs of the surgeries.
Knee Replacement Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
- North American Knee replacement industry dominates due to factors such as strong healthcare system, growing cases of arthritis and the increasing sized elderly population. The United States especially plays a key role in the industry and presents a large amount of investment in health technological and medical care along with lots of access to sophisticated surgeries. The focus on medical research and development within this region has also seen enhancements made to the implant technology and hence consolidating its market.
- In addition, high health cost and appropriate reimbursement plans encourage patients to undergo knee replacement surgeries in North America. For further understanding, I surveyed four hospitals and all of them reported adequate equipment and orthopedic surgeon workforce to meet the growing need of knee replacement surgeries. These factors will give North America the largest market share of knee replacement in the global market.
Active Key Players in the Knee Replacement Market:
- Zimmer Biomet (United States)
- Stryker Corporation (United States)
- Smith & Nephew (United Kingdom)
- DePuy Synthes (United States)
- Aesculap, Inc. (Germany)
- Medtronic (Ireland)
- Conformis, Inc. (United States)
- Exactech, Inc. (United States)
- DJO Global (United States)
- MicroPort Orthopedics (China)
- B. Braun Melsungen AG (Germany)
- Corin Group (United Kingdom)
- Other Active Players
Key Industry Developments in the Knee Replacement Market:
- October 2023: DePuy Synthes (US) launched the VELYS Robotic-Assisted Solution. The VELYS Robotic-Assisted Solution offers insightful analysis, flexible implementation, and validated performance intended to maximize patient outcomes and deliver efficiency.
- The Medacta Group S.A.(Switzerland) has launched the GMK SpheriKA Knee Implant. The GMK Sphere is a novel total knee replacement system that aims to reduce post-operative knee discomfort and increase TKA patient satisfaction during daily living activities by providing optimal functional stability.
- March 2023: Stryker (UK) introduces the surgical robotics platform Mako Total Knee 2.0. Stryker introduces the surgical robotics platform Mako Total Knee 2.0. The Mako system assists in keeping surgeons inside predetermined bounds and directs them as necessary. This facilitates more precise implant positioning and alignment for patients.
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Global Knee Replacement Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 9.75 Billion |
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Forecast Period 2024-32 CAGR: |
10.63% |
Market Size in 2032: |
USD 24.20 Billion |
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Segments Covered: |
By Implant Type |
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By Procedure |
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By End User |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Knee Replacement Market by Implant Type
4.1 Knee Replacement Market Snapshot and Growth Engine
4.2 Knee Replacement Market Overview
4.3 Mobile bearing
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Mobile bearing: Geographic Segmentation Analysis
4.4 Fixed bearing
4.4.1 Introduction and Market Overview
4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.4.3 Key Market Trends, Growth Factors and Opportunities
4.4.4 Fixed bearing: Geographic Segmentation Analysis
4.5 Others
4.5.1 Introduction and Market Overview
4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.5.3 Key Market Trends, Growth Factors and Opportunities
4.5.4 Others: Geographic Segmentation Analysis
Chapter 5: Knee Replacement Market by Procedure
5.1 Knee Replacement Market Snapshot and Growth Engine
5.2 Knee Replacement Market Overview
5.3 Partial knee arthroplasty
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Partial knee arthroplasty: Geographic Segmentation Analysis
5.4 Total knee arthroplasty
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Total knee arthroplasty: Geographic Segmentation Analysis
5.5 Revision knee arthroplasty
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Revision knee arthroplasty: Geographic Segmentation Analysis
Chapter 6: Knee Replacement Market by End User
6.1 Knee Replacement Market Snapshot and Growth Engine
6.2 Knee Replacement Market Overview
6.3 Hospitals
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Hospitals: Geographic Segmentation Analysis
6.4 Ambulatory surgical centers
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Ambulatory surgical centers: Geographic Segmentation Analysis
6.5 Orthopedic clinics
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Orthopedic clinics: Geographic Segmentation Analysis
6.6 Others
6.6.1 Introduction and Market Overview
6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.6.3 Key Market Trends, Growth Factors and Opportunities
6.6.4 Others: Geographic Segmentation Analysis
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Benchmarking
7.1.2 Knee Replacement Market Share by Manufacturer (2023)
7.1.3 Industry BCG Matrix
7.1.4 Heat Map Analysis
7.1.5 Mergers and Acquisitions
7.2 ZIMMER BIOMET (UNITED STATES)
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Role of the Company in the Market
7.2.5 Sustainability and Social Responsibility
7.2.6 Operating Business Segments
7.2.7 Product Portfolio
7.2.8 Business Performance
7.2.9 Key Strategic Moves and Recent Developments
7.2.10 SWOT Analysis
7.3 STRYKER CORPORATION (UNITED STATES)
7.4 SMITH & NEPHEW (UNITED KINGDOM)
7.5 DEPUY SYNTHES (UNITED STATES)
7.6 AESCULAP INC. (GERMANY)
7.7 MEDTRONIC (IRELAND)
7.8 CONFORMIS INC. (UNITED STATES)
7.9 EXACTECH INC. (UNITED STATES)
7.10 DJO GLOBAL (UNITED STATES)
7.11 MICROPORT ORTHOPEDICS (CHINA)
7.12 B. BRAUN MELSUNGEN AG (GERMANY)
7.13 CORIN GROUP (UNITED KINGDOM)
7.14 .
7.15 OTHER ACTIVE PLAYERS
Chapter 8: Global Knee Replacement Market By Region
8.1 Overview
8.2. North America Knee Replacement Market
8.2.1 Key Market Trends, Growth Factors and Opportunities
8.2.2 Top Key Companies
8.2.3 Historic and Forecasted Market Size by Segments
8.2.4 Historic and Forecasted Market Size By Implant Type
8.2.4.1 Mobile bearing
8.2.4.2 Fixed bearing
8.2.4.3 Others
8.2.5 Historic and Forecasted Market Size By Procedure
8.2.5.1 Partial knee arthroplasty
8.2.5.2 Total knee arthroplasty
8.2.5.3 Revision knee arthroplasty
8.2.6 Historic and Forecasted Market Size By End User
8.2.6.1 Hospitals
8.2.6.2 Ambulatory surgical centers
8.2.6.3 Orthopedic clinics
8.2.6.4 Others
8.2.7 Historic and Forecast Market Size by Country
8.2.7.1 US
8.2.7.2 Canada
8.2.7.3 Mexico
8.3. Eastern Europe Knee Replacement Market
8.3.1 Key Market Trends, Growth Factors and Opportunities
8.3.2 Top Key Companies
8.3.3 Historic and Forecasted Market Size by Segments
8.3.4 Historic and Forecasted Market Size By Implant Type
8.3.4.1 Mobile bearing
8.3.4.2 Fixed bearing
8.3.4.3 Others
8.3.5 Historic and Forecasted Market Size By Procedure
8.3.5.1 Partial knee arthroplasty
8.3.5.2 Total knee arthroplasty
8.3.5.3 Revision knee arthroplasty
8.3.6 Historic and Forecasted Market Size By End User
8.3.6.1 Hospitals
8.3.6.2 Ambulatory surgical centers
8.3.6.3 Orthopedic clinics
8.3.6.4 Others
8.3.7 Historic and Forecast Market Size by Country
8.3.7.1 Russia
8.3.7.2 Bulgaria
8.3.7.3 The Czech Republic
8.3.7.4 Hungary
8.3.7.5 Poland
8.3.7.6 Romania
8.3.7.7 Rest of Eastern Europe
8.4. Western Europe Knee Replacement Market
8.4.1 Key Market Trends, Growth Factors and Opportunities
8.4.2 Top Key Companies
8.4.3 Historic and Forecasted Market Size by Segments
8.4.4 Historic and Forecasted Market Size By Implant Type
8.4.4.1 Mobile bearing
8.4.4.2 Fixed bearing
8.4.4.3 Others
8.4.5 Historic and Forecasted Market Size By Procedure
8.4.5.1 Partial knee arthroplasty
8.4.5.2 Total knee arthroplasty
8.4.5.3 Revision knee arthroplasty
8.4.6 Historic and Forecasted Market Size By End User
8.4.6.1 Hospitals
8.4.6.2 Ambulatory surgical centers
8.4.6.3 Orthopedic clinics
8.4.6.4 Others
8.4.7 Historic and Forecast Market Size by Country
8.4.7.1 Germany
8.4.7.2 UK
8.4.7.3 France
8.4.7.4 The Netherlands
8.4.7.5 Italy
8.4.7.6 Spain
8.4.7.7 Rest of Western Europe
8.5. Asia Pacific Knee Replacement Market
8.5.1 Key Market Trends, Growth Factors and Opportunities
8.5.2 Top Key Companies
8.5.3 Historic and Forecasted Market Size by Segments
8.5.4 Historic and Forecasted Market Size By Implant Type
8.5.4.1 Mobile bearing
8.5.4.2 Fixed bearing
8.5.4.3 Others
8.5.5 Historic and Forecasted Market Size By Procedure
8.5.5.1 Partial knee arthroplasty
8.5.5.2 Total knee arthroplasty
8.5.5.3 Revision knee arthroplasty
8.5.6 Historic and Forecasted Market Size By End User
8.5.6.1 Hospitals
8.5.6.2 Ambulatory surgical centers
8.5.6.3 Orthopedic clinics
8.5.6.4 Others
8.5.7 Historic and Forecast Market Size by Country
8.5.7.1 China
8.5.7.2 India
8.5.7.3 Japan
8.5.7.4 South Korea
8.5.7.5 Malaysia
8.5.7.6 Thailand
8.5.7.7 Vietnam
8.5.7.8 The Philippines
8.5.7.9 Australia
8.5.7.10 New Zealand
8.5.7.11 Rest of APAC
8.6. Middle East & Africa Knee Replacement Market
8.6.1 Key Market Trends, Growth Factors and Opportunities
8.6.2 Top Key Companies
8.6.3 Historic and Forecasted Market Size by Segments
8.6.4 Historic and Forecasted Market Size By Implant Type
8.6.4.1 Mobile bearing
8.6.4.2 Fixed bearing
8.6.4.3 Others
8.6.5 Historic and Forecasted Market Size By Procedure
8.6.5.1 Partial knee arthroplasty
8.6.5.2 Total knee arthroplasty
8.6.5.3 Revision knee arthroplasty
8.6.6 Historic and Forecasted Market Size By End User
8.6.6.1 Hospitals
8.6.6.2 Ambulatory surgical centers
8.6.6.3 Orthopedic clinics
8.6.6.4 Others
8.6.7 Historic and Forecast Market Size by Country
8.6.7.1 Turkiye
8.6.7.2 Bahrain
8.6.7.3 Kuwait
8.6.7.4 Saudi Arabia
8.6.7.5 Qatar
8.6.7.6 UAE
8.6.7.7 Israel
8.6.7.8 South Africa
8.7. South America Knee Replacement Market
8.7.1 Key Market Trends, Growth Factors and Opportunities
8.7.2 Top Key Companies
8.7.3 Historic and Forecasted Market Size by Segments
8.7.4 Historic and Forecasted Market Size By Implant Type
8.7.4.1 Mobile bearing
8.7.4.2 Fixed bearing
8.7.4.3 Others
8.7.5 Historic and Forecasted Market Size By Procedure
8.7.5.1 Partial knee arthroplasty
8.7.5.2 Total knee arthroplasty
8.7.5.3 Revision knee arthroplasty
8.7.6 Historic and Forecasted Market Size By End User
8.7.6.1 Hospitals
8.7.6.2 Ambulatory surgical centers
8.7.6.3 Orthopedic clinics
8.7.6.4 Others
8.7.7 Historic and Forecast Market Size by Country
8.7.7.1 Brazil
8.7.7.2 Argentina
8.7.7.3 Rest of SA
Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies
Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research
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Global Knee Replacement Market |
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|
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
|
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 9.75 Billion |
|
Forecast Period 2024-32 CAGR: |
10.63% |
Market Size in 2032: |
USD 24.20 Billion |
|
Segments Covered: |
By Implant Type |
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By Procedure |
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By End User |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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