The Knee Replacement Market Size was valued at USD 9.78 billion in 2023 and is expected to reach USD 12.38 billion by 2031, and grow at a CAGR of 3% over the forecast period 2024-2031.
Knee replacement surgery is performed to treat individuals with knee-damaging disorders such as post-traumatic arthritis, osteoarthritis, or rheumatoid arthritis. To complete the surgical surgery of a knee replacement, there are several steps. materials used in knee replacement systems are Metal alloys, ceramic materials, and tough plastic pieces. Technical advances in the field of orthopedics, such as minimally invasive surgery, availability of sophisticated & more durable implant materials, and higher success rates, encourage the younger population to undergo knee replacement surgery, resulting in market growth. Furthermore, sophisticated technology like 3D printed knee implants is increasing the demand for knee replacement equipment.
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Because older people are more likely to have knee problems, an increase in the geriatric population will increase the need for knee surgery, and thus the need for these devices. Knee-related illnesses are among the most common global health concerns among persons over the age of 40. Arthritis, back discomfort, trauma, and osteoporosis are all frequent joint disorders around the world. Furthermore, greater healthcare infrastructure and advanced treatment options have boosted life expectancy globally, resulting in a rise in the older population.
Moreover, an increase in the number of bone-related illnesses, obesity, and accident cases, as well as increased demand for knee implants, sophisticated designs, and attractive reimbursements, are projected to boost market expansion.
DRIVERS
An increasing elderly population
Less invasive surgical techniques because of technological improvements
RESTRAINTS
High investment in knee replacement
Low income
The cost of modern devices has dramatically grown.
OPPORTUNITIES
Infections in the knee are becoming more common.
Less invasive surgery with less discomfort.
Increase tremendously due to high accuracy and safety measures
CHALLENGES
Difficult in handling advanced devices.
The COVID-19 knee replacement market had a huge impact. As a result of the disease's spread, several markets around the world suffered significant losses. The health sector's main priorities moved to deal with patients who were afflicted by diseases. As a result, a number of medical procedures were put on hold for an extended period of time. Economies all throughout the world have been thrown into recession. However, if the epidemic is brought under control in the next years, the market is projected to recover its vigour. In addition, big players in this industry are attempting to develop and improve products in order to increase revenue.
MARKET ESTIMATION
The market is divided into three types of procedures: main knee replacement, partial knee replacement, and revision knee replacement. Cemented knee replacement and cementless knee replacement are the two types of primary knee replacement. The market is divided into fixed-bearing implants and mobile-bearing implants based on component type. The market is further split into hospitals and ambulatory surgery centers based on end-users.
By Component Type
Mobile-bearing Implants
Fixed-bearing Implants
By Procedure Type
Primary Knee Replacement
Revision Knee Replacement
Cemented Knee Replacement
Partial Knee Replacement
Cementless Knee Replacement
By End Users
Hospitals
During the projection period, North America is likely to be the most lucrative area in the knee replacement market. The increasing number of product approvals and launches are important factors driving the knee replacement industry in North America forward. THINK Surgical and MCRA, for example, recently announced that they had received FDA permission to market the T-Solution One Total Knee Application for total knee arthroplasty (TKA) in the United States. The T-Solution One Total Knee Application comprises CT-based 3D pre-surgical planning software that allows surgeons to develop and prepare a patient's specific knee joint replacement plan in a virtual world using a variety of knee implant choices. Due to the rising prevalence of arthritis in Asia Pacific, the market for knee replacements is likely to rise significantly throughout the forecast period.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Key players are Aesculap Implants Systems LLC, Allegra Orthopedics Limited, Medacta International, Zimmer Inc., Corin Group, Stryker, DePuy Synthes, Smith and Nephew, Kinamed Inc., Exatech Inc, and Other Players.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 9.78 Billion |
| Market Size by 2031 | US$ 12.38 Billion |
| CAGR | CAGR of 3% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Component Type (Mobile-bearing Implants, Fixed-bearing Implants) • By Procedure Type (Primary Knee Replacement, Revision Knee Replacement, Cemented Knee Replacement, Partial Knee Replacement, Cementless Knee Replacement) • By End Users (Hospitals, Ambulatory Surgical Centers) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Aesculap Implants Systems LLC, Allegra Orthopedics Limited, Medacta International, Zimmer Inc., Corin Group, Stryker, DePuy Synthes, Smith and Nephew, Kinamed Inc., Exatech Inc |
| DRIVERS | • An increasing elderly population • Less invasive surgical techniques because of technological improvements |
| Restraints | • High investment in knee replacement • Low income • The cost of modern devices has dramatically grown. |
Ans:- The knee Replacement Market Size was valued at USD 9.78 billion in 2023, and is expected to reach USD 12.38 billion by 2031, and grow at a CAGR of 3% over the forecast period 2024-2031.
Knee replacement surgery is performed to treat individuals with knee-damaging disorders such as post-traumatic arthritis, osteoarthritis, or rheumatoid arthritis
Key drivers of the Knee Replacement Market are an increasing elderly population, and less invasive surgical techniques because of technological improvements.
Mobile-bearing Implants and Fixed-bearing Implants are the sub-segments by component type.
Top-down, bottom-up, Quantitative, Qualitative Research, Descriptive, Analytical, Applied, and Fundamental Research.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Knee Replacement Market Segmentation, Component Type
8.1 Mobile-bearing Implants
8.2 Fixed-bearing Implants
9. Knee Replacement Market Segmentation, by Procedure Type
9.1 Primary Knee Replacement
9.2 Revision Knee Replacement
9.3 Cemented Knee Replacement
9.4 Partial Knee Replacement
9.5 Cementless Knee Replacement
10. Knee Replacement Market Segmentation, By End Users
10.1 Hospitals
10.2 Ambulatory Surgical Centers
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Aesculap Implants Systems LLC
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Allegra Orthopedics Limited
12.2 Medacta International
12.3 Zimmer Inc.
12.4 Corin Group
12.5 Stryker, DePuy Synthes
12.6 Smith and Nephew
12.7 Kinamed Inc.
12.8 Exatech Inc.
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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