The Knee replacement market was US$10.75 billion in 2023 and projected to escalate to US$ 16.46 billion by 2032, with compound annual growth rate of 4.85 percent from 2024 -2032. Orthopaedic products get the most demand because of a growing number of elderly people and the rise in osteoarthritis diseases.
The major role in the use of knee replacement surgery is due to the chronic pain that is persistent and cannot be treated through medications, exercises, injections among other interventions. It also plays a crucial role in enhancing the quality of patients’ lives especially where operations have restored the movements of the affected areas to enable the patients carry out activities in the right manner. There are two types of knee replacement: they include: partial where only a small part of the knee is replaced and total where the whole knee joint is replaced. The inventions of different operations and the innovation of better material for prosthetic patients have enhanced the impact of knee replacement with more advantages and durability to people throughout the world.
Jan 2024 Dubai World Trade Centre - Almana Group of Hospitals has collaborating with Zimmer Biomet to introduce robotic total knee replacement technology for enhanced accuracy in surgery, lowered pain and swifter patient recovery in the Eastern Province.
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.
2. Partial
3. Revision
2. Mobile Bearing
3. Others
2. Orthopedic Clinics
3. Ambulatory Surgery Center
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
Knee Replacement Industry Outlooks
Knee replacement is also referred to as knee arthroplasty, which is an operation performed to substitute the impaired or ill-suited areas of the knee joint with the prosthetic implants. This surgery is generally recommended for patients with severe knee disorders as a result of wear-and-tear; protruding and worn-out cartilage, be it in osteoarthritis, rheumatoid arthritis or post-traumatic arthritis; leading to pain and limited flexion.The major role in the use of knee replacement surgery is due to the chronic pain that is persistent and cannot be treated through medications, exercises, injections among other interventions. It also plays a crucial role in enhancing the quality of patients’ lives especially where operations have restored the movements of the affected areas to enable the patients carry out activities in the right manner. There are two types of knee replacement: they include: partial where only a small part of the knee is replaced and total where the whole knee joint is replaced. The inventions of different operations and the innovation of better material for prosthetic patients have enhanced the impact of knee replacement with more advantages and durability to people throughout the world.
Driving Forces of the Knee Replacement Market
Aging Population and Osteoarthritis Prevalence
Osteoarthritis is as one of the biggest catalysts that has given a boost to the knee replacement market due to the aging population is on the rise. At an older age, individuals are susceptible to chronic joint diseases such as Osteoarthritis of the knee which is the major cause of knee joint pain and disability. This means that due to the increase in the world’s population of people with 65 years and above, the number of knee replacement surgeries continues to rise. Osteoarthritis is characterized by the wearing a way of cartilage which in turn leads to unbearable pain and restricted movement. Knee replacement as an operation provides a way of restoring mobility, reducing pain and also improving the quality of life for elderly people. Osteoarthritis affected 256 million people in the year 1990. Figures are even more concerning in the year 2020 where there were 595 million people with the number having risen by 132% from the year 1990. It took us a century to see the worldwide population reach 1 billion by 2050.Technological Advancements in Surgical Procedures
Advances in surgical techniques including the use of minimally invasive surgical procedures through robotics and computer assistance have also made placement of dental implants more accurate hence shorter time to recovery and few complications. Knee replacement devices with improved technologies today, using the materials such as ceramic and titanium, produce longer service and easier movement. Knee replacement implants which are customized depending on the form of the patient’s body also result in better performances. This has resulted to safer, less painful, and more effective knee replacement surgeries, thus meaning that more and more patients and health care facilities are embracing the innovations. Mar 2023. Stryker launched Mako Total Knee 2.0 at AAOS 2023 Annual Meeting in Las Vegas. Building upon more than 500,000 Mako™ Total Knee procedures, Mako™ Total Knee 2.0 brings accurate results with a better perception to the users.Rising Awareness and Access to Healthcare
Larger population become aware of knee replacement surgery, advancement in healthcare structures are also contributing to the overall expansion of the market. With the increase in healthcare implementation around the world it has seen many patients from the emerging markets getting access to the improved orthopedic care. Similarly, previous educational crusade and patent crusade for treatment have helped people gain more knowledge about this knee replacement treatment and with this knowledge, more patients are coming forward for the knee replacement surgery at an early stage of their knee joint pain. Further, improved insurance and, especially, recent governmental efforts to provide more people with affordable healthcare have pushed demand for knee replacement surgeries up and, thus, amplified market growth as well. These are aspects that are placing more orders for kneed replacement surgeries around the globe.Europe Knee Replacement Market
The European knee replacement market is growing due to an aging population, the increasing prevalence of osteoarthritis, and advancements in surgical technologies.Germany Knee Replacement Market
The German knee replacement market is growing as a result of a growing elderly populace, osteoarthritis, and with the help of continuously improving surgical equipment. The population of senior citizens is increasing and the number of people affected by joint diseases also rises, it is necessary to perform more operations on the replacement of knees. Technological development like minimally invasive surgery and the use of advanced prosthetic material in surgery improves the success of operations and patients’ healing. The availability of well-organized healthcare in Germany and the significant concentration of the country on extensive research in the field of orthopedics are also increasing the growth of the same. Also, growing awareness among the patients and access to newer technologies lead to higher rate of knee replacement surgeries in the country. Currently, the VELYS™ Robotic-Assisted Solution was unveiled to Europe in October the following year 2023 by DePuy Synthes.Middle East & Africa Knee Replacement Market
Saudi Africa Knee Replacement Market
Knee replacement business in Saudi Arabia is on the rise because of the rising cases of osteoarthritis, a growing population of middle-aged people, along with developments in technology. More people are suffering from chronic joint disorders and this combined with the increasing elderly population fuels the need for knee replacement surgeries. Development in the line of biomedical technology of inner surgical operations and a better quality of the implantable materials and devices helps in offering better surgical efficacies and reduced healing or recovery periods. Also, the development of an extensive health care system and gaining access to specialised orthopaedic care create incremental market opportunities.Jan 2024 Dubai World Trade Centre - Almana Group of Hospitals has collaborating with Zimmer Biomet to introduce robotic total knee replacement technology for enhanced accuracy in surgery, lowered pain and swifter patient recovery in the Eastern Province.
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 corporation, 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. Total2. Partial
3. Revision
Implant Type - Market breakup in 3 viewpoints:
1. Fixed Bearing Implants2. Mobile Bearing
3. Others
End User - Market breakup in 3 viewpoints:
1. Hospitals2. Orthopedic Clinics
3. Ambulatory Surgery Center
Countries - Market breakup in 25 viewpoints:
1. North America1.1 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
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
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary5. Global Knee Replacement Market
4. Market Dynamics
6. Market Share Analysis
7. Product Type
8. Implant Type
9. End User
10. Countries
11. Porter’s Five Forces Analysis
12. SWOT Analysis
13. Key Players Analysis
Companies Mentioned
- Zimmer Biomet Holdings, Inc.
- Stryker Corporation
- Smith & Nephew PLC
- Johnson & Johnson
- Conformis Inc
- Integra life sciences corporation
- MicroPort Scientific Corporation
- B. Braun Melsungen AG
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 10.75 Billion |
| Forecasted Market Value ( USD | $ 16.46 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
