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The value of the global knee replacement market was USD 10.09 billion in 2023, driven by the increasing demand of minimally invasive knee replacement surgeries across the globe. The market is expected to grow at a CAGR of 4.9% during the forecast period of 2024-2032 to reach a value of USD 15.51 billion by 2032.
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Knee replacement, also frequently known as total knee replacement or knee arthroplasty is a surgical procedure that helps to resurface a knee. There are many conditions where a knee replacement may be required, for example, due to rheumatoid arthritis, gout, unusual bone growth, haemophilia, knee joint bone death, knee deformity, or knee injury. Injured or damaged cartilage and bone are removed from the knee and replaced with artificial materials such as plastic and metal.
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Based on the procedure, the knee replacement market can be segmented into total knee arthroplasty, partial knee arthroplasty, and revision knee arthroplasty. On the basis of implant type, the market is categorised into fixed bearing, and mobile bearing, among others. Based on the end use, the market is divided into hospitals, orthopaedic clinics, and ambulatory surgical centres, among others. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global knee replacement market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
The hospital segment is expected to gain momentum in the knee replacement market across the globe on account of the availability of innovative treatment options and fully equipped surgical facilitates. The easy accessibility of hospitals is further influencing the segment growth among consumers during the forecast period.
As knee replacement is typically not an emergency procedure, more patients are seeking premium facilities and specialty clinics, fuelling the growth of the orthopaedic clinics segment in the market.
Geographically, the North American region occupies a significant market share for knee replacements on account of the surging prevalence osteoarthritis, rising geriatric population, and increase in popularity of knee replacements across the region. The availability of insurance coverage along with an increase in the number of trauma as well as accident cases across the region is further driving the market demand for knee replacement during the forecast period. The rapid adoption of innovative products and the well-established healthcare industry in the region is expected to fuel market growth across North America.
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Stryker Corporation is a leading medical technology company across the globe. The company aims to provide innovative services and products for surgical and medical treatments in orthopaedics, neurotechnology, and spines, that aid to improve hospital and patient outcomes.
MicroPort Scientific Corporation is a worldwide medical device manufacturer and developer based in China. The company produces and designs products for a variety of medical fields involving interventional radiology, cardiology, orthopaedics, surgery, and electrophysiology.
Medacta Group SA is an international corporation that specialises in the design, distribution, and production of advanced orthopaedic products, along with the development of accompanying surgical techniques.
Other market players include Zimmer Biomet Holdings, Inc., Conformis, Inc., Johnson and Johnson Services Inc., and B. Braun Melsungen AG, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Procedure |
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Breakup by Implant Type |
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Breakup by Material |
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Breakup by End User |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is assessed to grow at a CAGR of 4.9% between 2024 and 2032.
The major market drivers are the increased prevalence of knee disorders and availability of effective knee replacements.
The key market trends include technological advancements in knee replacements and rising population of geriatric and obese patients requiring knee replacements.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various procedures in the market for knee replacement include total knee arthroplasty, partial knee arthroplasty, and revision knee arthroplasty.
The primary implant types for knee replacement include fixed bearing, and mobile bearing, among others.
End uses of knee replacement include hospitals, orthopaedic clinics, and ambulatory surgical centres, among others.
The major players in the market are Zimmer Biomet Holdings, Inc., Stryker Corporation, MicroPort Scientific Corporation, Conformis, Inc., Medacta Group SA, Johnson and Johnson Services Inc., and B. Braun Melsungen AG, among others.
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