Knee Replacement Market Size and Share Analysis - Growth Trends and Forecast Report 2024-2032

Knee Replacement Market Trends & Summary

The Global knee replacement Market will reach US$ 16.46 billion by 2032, up from US$ 10.75 billion in 2023, with a CAGR of 4.85% between 2024 and 2032. The aging population, increased osteoarthritis prevalence, improved implant technology, and growing awareness of joint health are all contributing factors to the growth of the knee replacement industry. Furthermore, advances in healthcare infrastructure and minimally invasive surgical methods are propelling demand, improving patient outcomes, and accelerating market expansion.

The report Knee Replacement Market & Forecast covers by Product Type (Total, Partial, Revision), Implant Type (Fixed Bearing Implants, Mobile Bearing, Others), End User (Hospitals, Orthopedic Clinics, Ambulatory Surgery Center), Countries and Company Analysis 2024-2032.

Knee Replacement Industry Outlooks

A surgical treatment called knee replacement, or knee arthroplasty, is intended to relieve pain and restore function in a severely injured knee joint. This illness is frequently brought on by degenerative diseases, trauma, or arthritis, which severely injure joints and cause pain, stiffness, and decreased movement.

The diseased knee joint is surgically removed during the treatment and replaced with an artificial implant, which is usually composed of plastic, metal, or a mix of materials. Resurfacing the ends of the tibia (shin bone) and femur (thigh bone) as well as, in certain situations, replacing the patella (kneecap) are the surgical procedures involved. The implants' natural knee motion is imitated in their design, which enhances function and lessens discomfort.

Driven by reasons including the aging population, rising osteoarthritis prevalence, and technological developments in medicine, the knee replacement industry is expanding rapidly. Treatment choices are being expanded and patient outcomes are being improved by advancements in implant materials and designs, such as more flexible and durable prosthesis and minimally invasive surgical techniques.

Driving Forces of Knee Replacement Market

Growing ageing population

The incidence of age-related illnesses, such as joint disorders, is rising as the world's demographic profile becomes more oriented toward older age groups. The United Nations World Population Prospects 2022 study projects that 16% of people on Earth will be 65 years of age or older in 2050, up from 10% in 2022.  Elderly persons are more likely to develop osteoarthritis, a degenerative joint disease linked to cartilage degradation. Because of the age-related wear and tear on the knee joints, which frequently causes excruciating pain, stiffness, and limited mobility, knee replacement surgery is a common and necessary intervention.   Since this demographic is more prone to need joint replacement due to normal aging processes, the number of older people directly correlates with an increase in demand for knee replacement surgeries.

Rising Osteoarthritis Prevalence

Increased obesity rates, sedentary lifestyles, and longer life expectancies are some of the causes contributing to the growing prevalence of osteoarthritis. More specifically, obesity puts more strain on weight-bearing joints like the knees, hastening the onset of osteoarthritis and the breakdown of cartilage.   Furthermore, In September 2022, PubMed Central published an article stating that osteoarthritis is a major contributor to disability. It is the most prevalent kind of arthritis, affecting over 10% of those over 60 worldwide. Effective therapies, such as knee replacements, are becoming more and more necessary as the prevalence of this ailment rises. The need for surgical procedures has been fueled in part by the earlier detection and management of osteoarthritis brought about by advancements in diagnostic tools and increased public awareness of joint health.

Technological Advancements

The market for knee replacements is growing at a crucial rate due to technological developments that improve patient outcomes and the surgical procedure. The creation of sophisticated implant materials, such as metal alloys, ceramics, and high-performance polymers, which provide improved biocompatibility, decreased wear, and longevity, is one significant innovation. These advancements guarantee that knee implants function better and last longer, which raises patient satisfaction and stimulates demand. Additionally, knee replacement procedures have changed as a result of the use of minimally invasive surgical techniques. Smaller incisions required for procedures such as arthroscopy result in less trauma during surgery, quicker recovery periods, and less discomfort thereafter, all of which increase patient appeal. Another advancement is robotic-assisted surgery, which gives doctors more control and precision during the implantation procedure. By enabling more precise implant alignment and insertion, these robotic devices improve functional outcomes while lowering the risk of problems.

Obstacles of the Global Knee Replacement Market

Expensive Replacing the Knee Procedures

Replacement of knee is expensive. Its cost unavailability is mostly common in most individuals, particularly from low- and middle-income economies. Costs in this respect cover surgical operations, hospital admission, rehabilitation, and postoperative treatment. Additionally, the price for high-tech prosthetics and surgeries involving robotic technologies contributes to it. Limited insurance coverage and unequal access to healthcare services make affordability a significant challenge. Consequently, most patients delay or forego knee replacement procedures, which limits the growth of the market.

Risks and Complications Associated with Surgery

Despite technological enhancements in knee replacement, the problems include infections, blood clots, implant failure, and post-surgery pain. The risks also include complications in patients with pre-existing conditions, such as diabetes and obesity, which mean prolonged recovery periods. Some implants may wear out or loosen over time, necessitating revision surgeries. Such risks discourage the potential set of patients who opt to undergo knee replacement procedures, thus affecting the demand in the market.

Total Knee Replacement Market

Total knee replacement is a common orthopedic surgery that alleviates the pain and resumes the mobility of patients who suffer from severe knee arthritis or other injuries. Partial or complete replacement of the knee joint with artificial implants makes up the procedure. Increasing osteoarthritis cases and older patient population lead to growing demand for TKR. Additional technological innovations, such as minimally invasive techniques and robotic-assisted surgeries, improve outcomes. However, high cost and long recovery times are two main challenges. Market leaders research and innovate in the development of long-lasting implants with high performance, which makes the patient highly satisfied and more mobile. Dec 2024 Zimmer Biomet gained FDA approval for Persona SoluTion Porous Plasma Spray Femur. It is a cementless total knee implant that is especially suitable for bone cement-sensitive patients or metal-sensitive patients. It features a porous coating for fixation and a special surface treatment for enhanced wear performance.

Partial Knee Replacement Market

Partial knee replacement (PKR) is an alternative to total knee replacement for patients with localized knee arthritis. This procedure replaces only the damaged portion of the knee joint while preserving healthy bone and tissue. PKR offers shorter recovery times, reduced post-operative pain, and improved knee function. The preference for minimally invasive procedures is creating a pathway to growth in PKR. Nonetheless, not all patients are eligible to undergo PKR, and there is a chance of deterioration of the disease, leading to a need for further surgery. Implant material innovation and evolution in surgical techniques propel PKR adoption globally. Nov 2024, Zimmer Biomet Holdings, Inc. received FDA Premarket Approval for the Oxford® Cementless Partial Knee based on safety and effectiveness data from an IDE study and non-clinical testing.

Mobile Bearing Knee Replacement Market

Mobile-bearing knee replacements offer greater flexibility and enhanced durability compared to fixed-bearing implants. The implants allow movement between the tibial and femoral components, simulating natural motion at the knee. They are especially appropriate for younger active patients who necessitate long-duration knee replacements. Mobile bearing devices have a larger risk of having dislocation while requiring accurate surgery placement for it to function normally. The emerging demand for them is because individuals prefer advanced treatments for knee arthroplastics. Manufacturers opt to invest time in better-quality materials and variations in design where complications are likely to be eliminated and the system is made last longer.

Hospital Knee Replacement Market

The major market share is grabbed by hospitals; they are the primary healthcare centers for knee replacement surgery. Patients have strong preferences for hospitals because of their advanced surgical infrastructure, skilled medical professionals, and comprehensive post-operative care. The elevation in incidence rates of knee osteoarthritis and sports injuries boosts demand for knee replacement surgeries in hospitals. Improvements in government initiatives and insurance coverage also fuel the market growth. However, long wait times for procedures in public hospitals and expensive treatment by private hospitals are determinants of inaccessibility to the market for many patients.

Orthopedic Clinics Knee Replacement Market

Orthopedic clinics are the most important in knee replacement because they have specialized treatment and personalized care. These offer consultation before the surgery, conduct of surgery, and rehabilitation services after the surgery. With an increase in the number of orthopedic specialists and technological advancements, clinics have become an alternative for hospital-based surgeries. Patients are increasingly found coming due to shorter waiting times and focused knee treatments. On the contrary, a small clinic with lesser infrastructure and resources could limit the scope of adoption of complex procedures that include robotic-assisted knee replacement.

North America Knee Replacement Market

For the duration of the projected period, North America is anticipated to lead the global knee replacement market. The increase can be ascribed to several sources, including an increase in accident occurrences and an increase in the number of people with degenerative diseases. A study published in June 2021 by the Canadian Institute for Health Information estimates that around 75,073 knee replacement procedures were performed in Canada in 2020.  It also said that Canada's annual medical spending on knee replacement surgery exceeds USD 1.4 billion. But the region's disabled population has found life particularly difficult as a result of the lockdown. In 2020, the Disability Inclusion Fund (DIF) in the US and other countries announced the creation of a USD 200,000 quick reaction fund to help people with disabilities fulfill their COVID-19 pandemic-related needs.  As a result, this kind of occurrence suggests modest market expansion in this area.

United States Knee Replacement Market

The United States dominates the global knee replacement market because of its superior health infrastructure, the adoption of novel surgical procedures, and the increased elderly population. Obesity and osteoarthritis are also increasing, thus triggering demand in the market. Other important factors in this regard include insurance coverage and reimbursement policies; however, high costs of a knee replacement surgery and postoperative rehabilitation remain as barriers to this market. Key players in the market are investing in research and development to introduce cost-effective, durable implants and enhance surgical outcomes. Nov 2024 – Johnson & Johnson MedTech, a global leader in orthopaedic technologies and solutions, will showcase its comprehensive portfolio of products and data-enabled solutions at this year's American Association of Hip and Knee Surgeons (AAHKS) 2024 Annual Meeting in Dallas.

Germany Knee Replacement Market

Germany is one of the major knee replacement surgery markets in Europe due to the increased population of aging people, an increased prevalence of osteoarthritis, and well-established health care facilities. The country focuses on technological progress, such as robotic-assisted surgeries and implant materials, hence boosting the growth of the knee replacement market. Government-funded healthcare programs and insurance coverage further enable access to these knee replacement procedures. However, long waiting times for elective surgeries in public hospitals and the complexity of regulatory approvals for new implants remain a challenge. German medical device manufacturers are actively involved in research and innovation to enhance the outcomes of knee replacement surgery. Oct 2023, Johnson & Johnson MedTech launched the VELYS™ Robotic-Assisted Solution from DePuy Synthes, the Orthopedics Company of Johnson & Johnson, on the European market. Total Knee surgery in Germany, Belgium, and Switzerland were finally accomplished with this VELYS™ Robotic-Assisted Solution. With these launches, the company, DePuy Synthes, fills gaps left unresolved by previous-generation orthopedic robotics through enriched Digital Surgery Platforms of connected technologies.

China knee replacement market

There is rapid development in China knee replacement market and has a sound basis of increment because of ever-growing elderly populace and an elevation in cases involving arthritis. Improvement in the healthcare infrastructure, government initiatives and the expansion of health insurance coverage are the driving forces for this market's growth. Patient awareness for advanced techniques and high-end implants has been the growing reason for increased demand. Affordability remains a concern with relevant disparities between the urban and rural population. International and domestic leaders in the medical device sector target increasing their footprint in China by strategic tie-ups and localized manufacturing. July 2023, Beijing Tinavi Medical Technologies Co. Ltd.'s Surgical robot got the approval for total knee replacement by China's National Medical Products Administration (NMPA). With this development, the company is expanding its product line to cover spine, trauma, and joints in orthopedic surgery. The new product, Tirobot Recon, supports surgeons in total knee arthroplasty.

Knee Replacement Market in Brazil

The knee replacement market in Brazil is growing due to the increasing incidence of knee disorders and the elderly population. More private healthcare centers and medical tourism are also rising, which demands the market. Economic instability and less public funding for healthcare restrict the widespread adaptation of the knee replacement market. High costs and unequal access to advanced surgical techniques also affect market growth. Government initiatives and collaboration between healthcare providers and medical device manufacturers to make the product more affordable are expected to propel the market in the coming years. Oct 2024, Exactech, a global leader in medical technology, announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the Truliant Porous Tibial Tray, a 3D tibial knee implant.

Saudi Arabia Knee Replacement Market

An increase in the demand for knee replacement surgeries is seen in Saudi Arabia as a result of the rising elderly population and lifestyle-related diseases, including obesity and arthritis. Government investments in medical infrastructure and expansions in healthcare facilities have contributed to market growth. Moreover, the cost of the procedures and the unavailability of specialized orthopedic surgeons remain challenges in this regard. The government has been encouraging medical tourism and collaborations with international medical device producers as a way to upgrade the quality and accessibility of knee replacement treatment in the country. In January 2024, Almana Group of Hospitals of Saudi Arabia started its robotic-assisted total knee replacement surgery. The ROSA Knee System is the robotic surgical assistant that assists the surgeons in performing more accurately knee replacement surgeries.

Global Knee Replacement Company News

March 2023- The Mako Total Knee 2.0 surgical robotics platform is released by Stryker (UK). The Mako Total Knee 2.0 surgical robotics platform is unveiled by Stryker. The Mako system helps surgeons stay within predefined boundaries and gives them instructions when needed. Patients can benefit from more accurate implant location and alignment as a result.

August 2021- Canary Medical and Zimmer Biomet Holdings, Inc. have been given permission by the U.S. Food and Drug Administration (FDA) to commercialize Persona IQ, the first and only smart knee cleared by the FDA for total knee replacement surgery, through a De Novo classification award.

June 2021- The FDA has cleared Ortho Development's Balanced Knee System and TriMax implants with Think Surgical's TSolution One Total Knee Application, according to a joint statement from Think Surgical Inc. and Ortho Development Corporation.

Knee Replacement Market Segments

Product Type– Market breakup in 3 viewpoints:

1. Total
2. Partial
3. Revision

Implant Type– Market breakup in 3 viewpoints:

1. Fixed Bearing Implants
2. Mobile Bearing
3. Others

End User– Market breakup in 3 viewpoints:

1. Hospitals
2. Orthopedic Clinics
3. Ambulatory Surgery Center

Countries– Market breakup in 25 viewpoints:

North America

1. United States
2. Canada

Europe

1. France
2. Germany
3. Italy
4. Spain
5. United Kingdom
6. Belgium
7. Netherlands
8. Turkey

Asia Pacific

1. China
2. Japan
3. India
4. Australia
5. South Korea
6. Thailand
7. Malaysia
8. Indonesia
9. New Zealand

Latin America

1. Brazil
2. Mexico
3. Argentina

Middle East & Africa

1. South Africa
2. Saudi Arabia
3. UAE

All the key players have been covered from 4 Viewpoints:

• Business Overview
• Key Persons
• Recent Development & Strategies
• Financial Insights

Key Players Analysis:

1. Zimmer Biomet Holdings, Inc.
2. Stryker Corporation
3. Smith & Nephew PLC
4. Johnson & Johnson
5. Conformis Inc
6. Integra life sciences corporation
7. MicroPort Scientific Corporation
8. B. Braun Melsungen AG

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