Knee Replacement Market Trends & Summary

Overview

The global knee replacement market is projected to grow from US$ 10.75 billion in 2023 to US$ 16.46 billion by 2032, reflecting a CAGR of 4.85% between 2024 and 2032. This growth is driven by an aging population, increasing osteoarthritis prevalence, technological advancements, and growing awareness of joint health. Additionally, improvements in healthcare infrastructure and the adoption of minimally invasive surgical techniques are further propelling demand and enhancing patient outcomes.

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Knee Replacement Market Segmentation

The Knee Replacement Market & Forecast report categorizes the industry by:

• Product Type: Total, Partial, and Revision knee replacements.
• Implant Type: Fixed Bearing Implants, Mobile Bearing, and Others.
• End User: Hospitals, Orthopedic Clinics, and Ambulatory Surgery Centers.
• Regional Analysis: Covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
• Company Analysis: Evaluates market players based on Business Overview, Key Persons, Recent Developments & Strategies, and Financial Insights.

Market Dynamics

Driving Factors

1. Aging Population
   The rise in the elderly population increases the prevalence of knee-related disorders. According to the United Nations World Population Prospects 2022, the percentage of people aged 65 and older will rise from 10% in 2022 to 16% by 2050. Older individuals often suffer from osteoarthritis, necessitating knee replacement surgeries.
2. Rising Osteoarthritis Prevalence
   Osteoarthritis is becoming more common due to sedentary lifestyles, obesity, and longer life expectancies. A September 2022 PubMed Central report states that over 10% of individuals over 60 worldwide suffer from osteoarthritis, creating a growing demand for knee replacement solutions.
3. Technological Advancements
• Advanced Implant Materials: New materials like metal alloys, ceramics, and high-performance polymers enhance biocompatibility and longevity.
• Minimally Invasive Techniques: Techniques such as arthroscopy reduce surgical trauma, improve recovery time, and lower postoperative discomfort.
• Robotic-Assisted Surgery: Robotics ensures precision, reducing complications and improving implant alignment.

Market Challenges

1. High Cost of Knee Replacement Surgery
   The procedure remains expensive, particularly in low- and middle-income countries, due to costs associated with surgery, hospitalization, rehabilitation, and advanced implants. Limited insurance coverage further restricts affordability.
2. Surgical Risks & Complications
• Risks include infection, blood clots, implant failure, and post-surgical pain.
• Patients with conditions like diabetes or obesity may face extended recovery periods.
• Implant wear over time necessitates revision surgeries, reducing the number of patients willing to undergo initial procedures.

Market Segments

Total Knee Replacement Market

Total knee replacement (TKR) is the most common procedure, used to alleviate pain and restore mobility in arthritis patients. Innovations such as robotic-assisted surgery and high-performance implants improve patient outcomes. Zimmer Biomet's Persona Solution Porous Plasma Spray Femur received FDA approval in December 2024, offering a cementless knee implant for enhanced performance.

Partial Knee Replacement Market

Partial knee replacement (PKR) is a less invasive alternative, replacing only the damaged portion of the knee joint. PKR leads to faster recovery and reduced post-operative pain. In November 2024, Zimmer Biomet received FDA Premarket Approval for the Oxford® Cementless Partial Knee, enhancing options for selective knee replacement candidates.

Mobile Bearing Knee Replacement Market

Mobile-bearing implants allow greater flexibility and durability, mimicking natural knee motion. These are particularly beneficial for younger, more active patients. However, higher risks of implant dislocation require precise surgical placement.

End-User Analysis

• Hospitals: Account for the largest market share due to advanced infrastructure and skilled professionals.
• Orthopedic Clinics: Provide specialized treatments, personalized care, and shorter wait times.
• Ambulatory Surgery Centers: Offer cost-effective alternatives with outpatient surgical options.

Regional Market Insights

North America

North America is the largest knee replacement market, driven by high osteoarthritis prevalence, strong healthcare infrastructure, and advanced surgical techniques.

• United States: Dominates due to extensive insurance coverage and R&D investments.
• Canada: Conducted 75,073 knee replacement surgeries in 2020, with over USD 1.4 billion in annual healthcare spending.

Europe

Germany leads the European market due to advanced robotic-assisted surgeries and government-funded healthcare.

• In October 2023, Johnson & Johnson MedTech launched the VELYS™ Robotic-Assisted Solution in Germany, Belgium, and Switzerland, enhancing digital surgical platforms.

Asia Pacific

China, Japan, and India are rapidly growing markets due to aging populations, improving healthcare infrastructure, and increased awareness of knee replacement options.

• China: The National Medical Products Administration (NMPA) approved Beijing Tinavi Medical Technologies' surgical robot for total knee replacement in July 2023.
• Japan & India: Rising disposable incomes and expanding insurance coverage support market growth.

Latin America

• Brazil: Knee replacement demand is rising due to increasing elderly populations and medical tourism.
• Challenges: Economic instability and high costs limit accessibility.

Middle East & Africa

• Saudi Arabia: Increasing knee replacement demand due to lifestyle-related diseases and aging populations.
• January 2024: Almana Group of Hospitals introduced robotic-assisted total knee replacement using the ROSA Knee System, improving surgical precision.

Competitive Landscape

Key market players focus on R&D, product innovation, and strategic partnerships to enhance their offerings.

Recent Developments

• March 2023: Stryker (UK) launched Mako Total Knee 2.0 surgical robotics platform, offering enhanced precision in knee surgeries.
• August 2021: Zimmer Biomet and Canary Medical received FDA clearance for Persona IQ, the first smart knee implant for total knee replacement.
• June 2021: Think Surgical Inc. and Ortho Development Corporation received FDA clearance for their Balanced Knee System and TriMax implants.

Key Players

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

Conclusion

The knee replacement market is poised for steady growth, driven by technological advancements, increasing osteoarthritis prevalence, and improved healthcare accessibility. However, high costs and surgical risks remain challenges. Continued R&D, improved insurance policies, and emerging markets will shape the industry's future, ensuring better accessibility and patient outcomes.

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