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  • Knee Replacement Market Analysis | 2023-2028

    Knee Replacement Market Analysis | 2023-2028

    Knee Replacement Market Analysis | 2023-2028
    Report code - SRHL224 Delivery - 2 Weeks
    Knee Replacement Market, Dynamics, Trends, Forecast, & Industry Analysis: 2023-28
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    Market Insights

    The knee replacement market is estimated to grow from USD 10.49 billion in 2022 to USD 13.35 billion by 2028 at a CAGR of 4.04% during the forecast period.

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    What is a Knee replacement?

    Knee replacement surgery, commonly referred to as knee arthroplasty, involves replacing a diseased or injured knee joint with an artificial joint or prosthesis. The knee joint is where the femur, or thighbone, and the tibia, or shinbone, join.

    Knee replacements are often done when disorders like osteoarthritis, rheumatoid arthritis, or post-traumatic arthritis cause the knee joint to become significantly damaged or painful. These disorders can lead to the wear and tear of the cartilage in the knee joint, causing discomfort, stiffness, and trouble going about daily tasks.

    Knee Replacement Market Report Overview

    Market Size in 2028

    USD 13.35 billion

    Market Size in 2022

    USD 10.49 billion

    Market Growth (2023-2028)

    CAGR of 4.04%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Key players operating in the knee replacement market are:

    • Zimmer Biomet (The U.S),
    • Stryker Corporation (The U.S),
    • DePuy Synthes (The U.S),
    • Smith & Nephew plc (UK),
    • Corin Group (UK),
    • Medacta International (Switzerland),
    • Wright Medical Group Inc. (The U.S),
    • Aesculap Implants Systems LLC (The U.S)
    • Allegra Orthopaedics Limited (Australia),
    • DJO Global, Inc. (The U.S), and
    • Johnson & Johnson Services Inc. (The U.S).

    Market Dynamics

    The knee replacement market is mainly driven by:

    • Growing demand for minimally invasive surgical procedures.
    • The increasing prevalence of diseases such as arthritis and other knee problems coupled with the rising geriatric populace across geographies.
    • Growing emphasis on providing technologically advanced products using new materials.

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    COVID-19 Impact 

    The COVID-19 outbreak affected the growth of the knee replacement market negatively. Due to a surge in covid-19 cases across geographies only essential services were allowed. People moved out of their houses only for essential services due to fear of coronavirus infection. Knee replacement surgeries were postponed or canceled due to the spread of coronavirus and thus, affected the market growth negatively for a short period of time.

    Segment Analysis

    Knee Replacement Market: Implant Trends

    The fixed-bearing segment dominated the market in 2022 owing to its distinct clinical properties and comparatively lower cost. However, the mobile bearing segment is expected to register a higher CAGR during the forecast period due to the superior range of motion provided by this type of implant which is suitable for young patients. 

    Knee Replacement Market: End-user Trends

    The hospital segment dominated the market in 2022 owing to the presence of well-trained professionals in hospitals and an increase in the number of hospital admission. However, the ambulatory surgery centers segment is expected to project higher CAGR during the forecast period owing to an increase in the number of joint replacement surgeries performed in such facilities.

    Knee Replacement Market: Procedure Trends

    The market has been segmented into total knee replacement, partial knee replacement, kneecap replacement, and revision knee replacement.

    The total knee replacement segment accounted for the largest market share in 2022. The segment growth can be attributed to the increasing geriatric population and increasing awareness regarding minimally invasive surgical procedures.

    Regional Analysis

    The market in North America accounted for the largest market share in 2022 and is expected to continue its dominance over the forecast period owing to the rising geriatric populace and high demand for novel technologically advanced solutions.

    The market in the Asia-Pacific region is projected to register the fastest growth during the review period on account of thriving medical tourism and increased investment in healthcare infrastructure development.

    To know which region offers the best growth opportunities, Click Here.

    Market Segmentation

    The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories:

    By Procedure

    • Total Knee Replacement
    • Partial Knee Replacement
    • Kneecap Replacement
    • Revision Knee Replacement

    By Implant Type 

    • Fixed-bearing Implants.
    • Mobile-bearing Implants
    • Others

     By Application

    • Metal Alloy
    • Ceramic Material
    • Others

     End User 

    • Hospital
    • Orthopaedic Clinics
    • Ambulatory Surgery Centres
    • Others

     By Region

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Target Audience

    The following is a list of the customers that the market aims to convert the most:

    • Knee replacement manufacturers
    • Knee replacement suppliers
    • Knee replacement distributors
    • Organizations
    • Government bodies

    Report Features

    This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

    What Deliverables will you get in this report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Knee Replacement Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and what is their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Technology portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Knee replacement also known as knee arthroplasty is a surgical procedure in which a damaged knee is resurfaced by arthritis. This surgery is performed on a person having severe arthritis or severe knee injury. The knee joint can be affected by various arthritis such as rheumatoid arthritis, osteoarthritis, or traumatic arthritis.

    Zimmer Biomet (The U.S), Stryker Corporation (The U.S), DePuy Synthes (The U.S), Smith & Nephew plc (UK), Corin Group (UK), Medacta International (Switzerland), Wright Medical Group Inc. (The U.S), Aesculap Implants Systems LLC (The U.S), Allegra Orthopaedics Limited (Australia), DJO Global, Inc. (The U.S) and Johnson & Johnson Services Inc. (The U.S) are among the key players in the market.

    Growing demand for minimally invasive surgical procedures. The increasing prevalence of diseases such as arthritis and other knee problems coupled with the rising geriatric populace across geographies. Growing emphasis on providing technologically advanced products using new materials.

    North America accounted for the largest share of the market in 2022.

    The knee replacement market is expected to grow from USD 10.49 billion in 2022 to USD 13.35 billion by 2028 during the forecast period.

    The total knee replacement segment accounted for the largest share of the knee replacement market in 2022.

    The market is expected to grow at a CAGR of over 4.04% during the forecast period.

    Knee replacement manufacturers, Knee replacement suppliers, Knee replacement distributors, Organizations, Government bodies are the target audience in the market.

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