Knee Replacement Market Report

Market Insights

The Global Knee Replacement Market is expected to grow from USD 9.6 billion in 2020 to USD 12.2 billion by 2026 at a CAGR of over 4.1% during the forecast period.

Figure: Global Knee Replacement Market Size, 2020-2026 (USD Billion)

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What is a Knee replacement?

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 the 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.

Key Players

Key players operating in the global 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

Growing demand for minimally invasive surgical procedures is likely to bolster the market growth at a significant rate during the review period.

The growth of the global knee replacement market is primarily driven by 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 is likely to create lucrative opportunities for the players operating in the global knee replacement market.

Segment Analysis

Procedure Trends

Based on procedure, 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 2020. The segment growth can be attributed to the increasing geriatric population and increasing awareness regarding minimally invasive surgical procedures.

Regional Trends

Geographically, the market in North America accounted for the largest market share in 2020 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.

COVID-19 Impact on Global Knee Replacement Market

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 cancelled due to the spread of coronavirus and thus, affected the market growth negatively for a short period of time.

Critical Questions Answered in the Report

• What are the key trends in the global knee replacement market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global knee replacement market?
• What are the key strategies adopted by the major vendors to lead in the global knee replacement market?
• What is the market share of the top vendors?

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Target Audience

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

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

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