Knee Replacement Market Report and Forecast 2023-2031

Global Knee Replacement Market Outlook
The value of the global knee replacement market was USD 9.62 billion in 2022, driven by the increasing demand of minimally invasive knee replacement surgeries across the globe. The market is expected to grow at a CAGR of 4.89% during the forecast period of 2023-2031 to reach a value of USD 14.78 billion by 2031.

Knee Replacement Market: Introduction

Knee replacement, also known as knee arthroplasty, is a surgical procedure in which a damaged or diseased knee joint is replaced with an artificial joint, called a prosthesis. The prosthesis is designed to mimic the shape and function of a natural knee joint, allowing patients to regain mobility and alleviate pain caused by conditions such as osteoarthritis, rheumatoid arthritis, and post-traumatic arthritis.

Knee replacement surgery can be performed as a partial knee replacement, where only the damaged part of the knee joint is replaced, or as a total knee replacement, where the entire knee joint is replaced. The surgery typically involves a hospital stay of a few days and a recovery period of several weeks, during which patients work with physical therapists to regain strength and mobility.

The global knee replacement market is growing rapidly, driven by the increasing prevalence of knee disorders and the growing demand for minimally invasive surgical techniques. Key players in the knee replacement market include Zimmer Biomet, Stryker Corporation, Smith & Nephew, and DePuy Synthes. These companies are investing in research and development to improve the design and performance of knee prostheses and to develop new techniques for knee replacement surgery.

Despite its benefits, knee replacement surgery also carries some risks, such as infection, blood clots, and nerve damage. Patients should discuss the potential risks and benefits of knee replacement surgery with their healthcare provider to determine if it is the right choice for their individual needs.

Knee Replacement Epidemiology

The epidemiology of knee replacement surgery varies by region and demographic factors such as age, gender, and underlying medical conditions. In general, knee replacement is more common in older adults, with the highest prevalence in those aged 65 and older.

In the United States, approximately 1 million knee replacement surgeries are performed each year, according to the American Academy of Orthopaedic Surgeons. The prevalence of knee replacement surgery is also increasing in other regions, including Europe, Asia-Pacific, and Latin America.

Osteoarthritis is the most common reason for knee replacement surgery, accounting for approximately 80% of cases. Other indications for knee replacement surgery include rheumatoid arthritis, post-traumatic arthritis, and avascular necrosis.

Overall, knee replacement surgery is a common and effective treatment option for individuals with severe knee pain and limited mobility due to knee joint damage or disease. With advancements in surgical techniques and prosthetic design, knee replacement surgery continues to be an important area of research and innovation in the healthcare industry.

Global Knee Replacement Market Segmentations

Market Breakup by Procedure

• Total Knee Arthroplasty
• Partial Knee Arthroplasty
• Revision Knee Arthroplasty

Market Breakup by Implant Type

• Fixed Bearing
• Mobile Bearing
• Others

Market Breakup by Material

• Metal on Plastic
• Ceramic on Plastic
• Ceramic on Ceramic
• Metal on Metal

Market Breakup by End User

• Hospitals
• Orthopaedic Centres
• Ambulatory Surgical Centres
• Others

Market Breakup by Region

North America

• United States of America
• Canada

Europe

• United Kingdom
• Germany
• France
• Italy
• Others

Asia Pacific

• China
• Japan
• India
• ASEAN
• Australia
• Others

Latin America

• Brazil
• Argentina
• Mexico
• Others

Middle East and Africa

• Saudi Arabia
• United Arab Emirates
• Nigeria
• South Africa
• Others

Global Knee Replacement Market Scenario

The global knee replacement market is expected to grow significantly in the coming years, driven by factors such as an increasing prevalence of knee disorders, a growing elderly population, and advances in surgical techniques and prosthetic design.

North America dominated the global knee replacement market in 2020, accounting for the largest revenue share. This can be attributed to a high prevalence of knee disorders in the region, coupled with a well-established healthcare infrastructure and higher healthcare spending. However, the Asia-Pacific region is expected to witness the fastest growth over the forecast period due to the increasing adoption of knee replacement surgery in emerging economies such as China and India.

However, the knee replacement market also faces challenges such as high costs associated with surgery, the risk of complications such as infection, and the need for post-operative rehabilitation.

Additionally, the COVID-19 pandemic has had a significant impact on the knee replacement market, as elective surgeries have been postponed or cancelled in many regions, leading to a temporary decline in demand. Nevertheless, the knee replacement market is expected to recover and continue to grow in the long term as the global population ages and the demand for joint replacement surgery increases.

Key Players in the Global Knee Replacement market

The report gives an in-depth analysis of the key players involved in the global knee replacement market. The companies included in the market are as follows:

• 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

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