ID: MRFR/MED/1049-HCR | | Region: Global | 105 pages
Knee Replacement Market Overview
The knee replacement market is projected to grow at a rate of 3.7% CAGR. It is projected that the market will expand up to 10 Billion USD during the forecast period 2029-2025 Knee replacement is a medical procedure that includes the replacements of affected parts of the knee. The affected area in the knee can lead to severe pain. With the help of knee replacement, it helps to reduce the pain among patients and improve their condition.
Diseases like arthritis and osteoarthritis among the older generation are mainly found. It is among the main reasons for knee replacements across the world. According to total knee replacement statistics, Osteoarthritis is among the major causes that cause disabilities in the older generation. Research done by Arthritis Foundation, it was found that around 30.8 million adults were reported to be suffering from Osteoarthritis.
The impact of the COVID-19 knee replacement market was drastic. The outbreak of the disease various markets around the world faced huge losses. The major concerns of the health sector shifted to handle the patients which were affected by the diseases. Hence, other several medical operations were halted for a very long period. Various economies around the world were forced into recession. However, it is expected that in the upcoming years, if the pandemic gets controlled then the market will regain its strength. Also, major companies in this field are trying to develop and enhance products to generate more revenue.
The major driver of the knee replacement market trends is the growing aged population across the world. Simultaneously, other chronic diseases among the older generation such as diabetes, osteoporosis, and arthritis are also growing. Also, several advancements in technology with less invasive procedures for surgery are a major factor for market growth. During the forecast period, the market will have a significant rise due to several advancements and the production of new materials.
Various factors can affect the knee replacement market in the upcoming years. The high expenditure for knee implants is a major restraint for the market global market of knee replacement surgery. In this way, the growth of the market can be low among the countries with low income. Also, the use of technology with advanced devices has significantly increased the cost in various developing countries. Hence, in this way, the market growth will be affected due to the above reasons.
The increasing cases of infection in the knee are also a major factor that will positively influence the market. In the past recent years, the market is observed that various infections are connected to knee replacement. Also, high accuracy and safety measures for surgery or less invasive surgery and less pain will fuel the market growth exponentially.
The major challenge for the knee replacement market is the very low availability of skilled and knowledgeable surgeons. To handle the advanced devices and completing the surgery requires high accuracy and experience. It will possess a huge challenge for the knee replacement market to sustain and grow further.
The rising demand for less invasive procedures for surgery and the growing population of the older generation will have a significant impact. The projected Compound Annual Growth Rate (CAGR) of the global market of knee arthritis is around 3.7%. It is expected that the knee replacement market value will increase up to 10 Billion USD during the forecast period. Hence the total knee replacement market share by the company will grow at a substantial rate.
Value Chain Analysis
The use of robotics technology for knee replacement surgery will increase the knee replacement market growth in the upcoming period. Also, rising concerns for health-related procedures will influence the market positively. Overall, the rising cases of the joint, knee, and hip replacement among the geriatric population will increase the knee replacement market growth during the forecast period.
According to the global knee replacement market forecast, the market is segmented into end-users, product types, and materials.
The global knee replacement devices market of knee replacement surgery on the basis of end-user is further divided into strong plastic parts, ceramic material, metal alloy, and others.
Furthermore, the global knee replacement devices market of knee arthritis on the basis of product types is bifurcated into partial knee reconstructive implants, total knee reconstructive implants, medial pivot implants, fixed bearing implants, revision knee reconstructive implants, mobile bearing implants, and others.
The knee replacement market size on the basis of end-users is divided into clinics and hospitals, rehabilitation centers, and specialty centers.
The global knee replacement market share on the basis of region is segmented into Europe, the Americas, Asia-Pacific and the Middle East, and Africa.
The Americas has been segmented into two regions- South America and North America. It is projected that the North American region will dominate the global market. Further, North America is segmented into Canada and the US. The major driver of knee arthritis in this region is the growing population of the older generation. Also, people are more aware of the development of technology in the health sector. Emphasis on research and development for knee replacement are also major factors.
Asia-Pacific is the fastest-growing region during the forecast period for knee replacement market. The major knee replacement market drivers are the growing concerns regarding joint and bone disorders. Diseases such as osteoarthritis, rheumatoid arthritis, hip replacements, etc. are increasing rapidly. The major contributors to the growth are the countries like China, Japan, and India. Rising awareness among people related to diseases and leading are the major driving factors in this region.
The European region is estimated to be the second-largest contributor to the growth of the knee replacement market. It is expected to have significant growth in the upcoming years. The main factors are the easy availability of the new advanced technologies for treatment. Also, the increasing population of the geriatric population will drive the market towards growth. According to reports by Eurostat, more than 19.2% of people were above the age of 65 all over Europe.
However, the Middle East and Africa will have the slowest growth rate as compared to other regions. The low availability of new and advanced treatment facilities is responsible for the slow market growth. Also, people are not much aware of health-related issues.
There are various key players in the global market of knee arthritis that use various strategies to increase their business. This in turn helps them to generate more revenue. Such as Depoy Synthesis, a renowned company for knee arthritis announced new products for the replacement of the shoulder, knee, and hip.
Some of the major key players in the global key players of the global market of knee replacement surgery are-
The report overview of the global knee replacement surgery is as follows-
|Market Size||USD 11, (2025)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Product Type, Material|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Zimmer Inc. (US), DePuy Synthes (US), Stryker (US), Smith and Nephew (UK), Exactech, Inc. (US), Corin Group (UK), Aesculap Implants Systems LLC (US), Medacta International. (Switzerland), Allegra Orthopaedics Limited (Australia), and Kinamed, Inc. (US)|
|Key Market Opportunities||
|Key Market Drivers||This rising older population is likely to lead to rising patient population.Additionally, Ramsay Health Care UK stated that more than 70,000 knee replacements are carried out in England and Wales each year.|
Frequently Asked Questions (FAQ) :
knee replacement market is projected to grow at approximately 3.7% CAGR during the assessment period (2019-2025).
knee replacement market is estimated to reach a valuation of approx. USD 10 BN by the end of 2025.
High prevalence of arthritis & osteoporosis, rising advancements in surgical process such as minimally invasive surgeries, and the availability of better implant materials are major tailwinds pushing the growth of the global knee replacement market.
North America holds the largest share in the global knee replacement market, followed by Europe and the Asia Pacific, respectively.
Zimmer Inc. (US), Stryker (US), DePuy Synthes (US), Smith and Nephew (UK), Corin Group (UK), Exactech, Inc. (US), Aesculap Implants Systems LLC (US), Allegra Orthopaedics Limited (Australia), Medacta International (Switzerland), and Kinamed, Inc. (US), are some of the top players operating in the global knee replacement market.