Report Overview

2023

Base Year

2017-2023

Historical Year

2024-2032

Forecast Year

Global Knee Replacement Market Outlook

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.

knee replacement market

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Key Trends in the Market

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.

  • The rising in the prevalence of orthopaedic disorders, Osteoarthritis (OA), and osteoporosis, along with lower extremity conditions is expected to drive the knee replacement market across the globe.
  • Technological advancements in knee replacement surgeries and materials used are resulting in greater accuracy and better results, due to which patients are more comfortable with getting knee replacements performed. The rising comfort factor regarding undergoing knee replacement and the corresponding high demand for the procedure are driving the market growth.
  • The increasing ageing population coupled with growing obesity among people are surging the number of people suffering from knee problems. While many try alternative modes of treatment, such as physiotherapy, weight loss, or medication, in some cases knee replacement becomes necessary.

Market Analysis

knee replacement market by segments

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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.

  • Zimmer Biomet Holdings, Inc.
  • Stryker Corporation
  • MicroPort Scientific Corporation
  • Conformis, Inc.
  • Medacta Group SA
  • Johnson and Johnson Services Inc.
  • B. Braun Melsungen AG
  • Others

Market Share by End use

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.

Market Share by Region

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.

knee replacement market by region

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Competitive Landscape

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.

Key Highlights of the Report

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:

  • Procedure
  • Implant Type
  • Material
  • End User
  • Region
Breakup by Procedure
  • Total Knee Arthroplasty
  • Partial Knee Arthroplasty
  • Revision Knee Arthroplasty
Breakup by Implant Type
  • Fixed Bearing
  • Mobile Bearing
  • Others
Breakup by Material
  • Metal on Plastic
  • Ceramic on Plastic
  • Ceramic on Ceramic
  • Metal on Metal
Breakup by End User
  • Hospitals
  • Orthopaedic Clinics
  • Ambulatory Surgical Centres
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
  • Industry Events, Initiatives, and Trends
  • Value Chain Analysis
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • Zimmer Biomet
  • Stryker Corporation
  • Smith and Nephew Plc
  • B.Braun Melsungen AG
  • Johnson & Johnson Services Inc.
  • MicroPort Scientific Corporation
  • ConforMIS, Inc.
  • Corin Group
  • Exatech, Inc.
  • DJO Global Inc.
  • Baumer Holdings
  • SurgTech Inc.
  • Wright Medical Group N.V.
  • NOV
  • Medacta International

*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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Key Questions Answered in the Report

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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