Global Knee Replacement Market Report and Forecast 2024-2032

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.

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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

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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.

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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