Knee Replacement Market Report Forecast 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)

Global Knee Replacement Market Analysis

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.

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.

The United States knee replacement industry is growing due to a number of causes, including key product introductions, a high concentration of manufacturers or market players, and alliances and acquisitions among prominent competitors. For instance, the newest handheld smart instrument for knee replacement surgery, Lantern, was introduced in November 2021 by OrthAlign, a privately held business in the United States. With just one use, the device provides precise, customized alignment for every patient. It is a portable, intelligent instrument that works with many implant systems and surgical techniques. It is expected that these ongoing product launches would propel the nation's market expansion.

Global Knee Replacement Company Analysis

The key players in knee replacement industry are Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith & Nephew PLC, Johnson & Johnson, Conformis Inc, Integra life sciences corporationm, MicroPort Scientific Corporation and B. Braun Melsungen AG.

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.

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:

1. North America

1.1    United States

1.2    Canada

2. Europe

2.1    France       

2.2    Germany  

2.3    Italy            

2.4    Spain          

2.5    United Kingdom    

2.6    Belgium     

2.7    Netherland

2.8    Turkey

3. Asia Pacific

3.1    China          

3.2    Japan         

3.3    India           

3.4    Australia   

3.5    South Korea            

3.6    Thailand    

3.7   Malaysia    

3.8   Indonesia  

3.9    New Zealand

4. Latin America

4.1    Brazil

4.2    Mexico

4.3    Argentina

5. Middle East & Africa

5.1    South Africa

5.2    Saudi Arabia

5.3   UAE

All the key players have been covered from 4 Viewpoints:

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

Key Players Analysis:

• Zimmer Biomet Holdings, Inc.
• Stryker Corporation
• Smith & Nephew PLC
• Johnson & Johnson
• Conformis Inc
• Integra life sciences corporation
• MicroPort Scientific Corporation
• B. Braun Melsungen AG

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