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:
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.
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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
ByImplant Type
Fixed-bearing Implants.
Mobile-bearing Implants
Others
ByApplication
Metal Alloy
Ceramic Material
Others
End User
Hospital
Orthopaedic Clinics
Ambulatory Surgery Centres
Others
ByRegion
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?
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.
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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.
Knee replacement manufacturers, Knee replacement suppliers, Knee replacement distributors, Organizations, Government bodies are the target audience in the market.