Global Total Hip and Knee Replacements Market Overview
The Total Hip and Knee Replacements Market size was valued at USD 20.64 billion in 2022 and is projected to grow from USD 21.63 billion in 2023 to USD 30.03 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.80% during the forecast period (2023 - 2030). The increase in the prevalence of osteoarthritis & increasing cases of orthopedic injury, the growing number of partial replacement surgeries globally, and the rising elderly population are driving the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Total Hip and Knee Replacements Market Trends
- Rising elderly population to boost the market growth
Ageing is the outcome of the accumulation of numerous types of molecular and cellular damage over time. Due to this, physical and mental abilities gradually deteriorate, disease risk increases, and eventually mortality results. According to the United Nations' assessment of the world's ageing population, 727 million individuals worldwide are 65 or older. By 2050, it is anticipated that there will be 1.5 billion people on the planet. According to the United Nations (a Department of Economic and Social Affairs, Population Division), the proportion of elderly people in the global population will increase from 9.3% in 2020 to 16% in 2050. Moreover, it is anticipated that as the population ages, orthopedic illnesses will become increasingly common.
Furthermore, adults over the age of 70 may also experience a reduction in physiological reserve, a rise in medical comorbidities, and a rise in trauma-related mortality and morbidity. According to the National Trauma Database, the risk of major injuries from accidents and other likely occurrences is higher in people over the age of 70. 25% of all trauma victims in the US are people 65 and older. Moreover, the ageing population also makes the musculoskeletal system more vulnerable to diseases and injuries. Therefore, in the upcoming years, the market for total hip and knee replacements is anticipated to be significantly influenced by the aging population.
Hip and knee replacements rank among the most common and effective surgeries performed worldwide. The main cause of hip and knee replacement (joint replacement surgery) is osteoarthritis, which reduces function and quality of life. In 2019, Germany, Switzerland, Austria, Finland, and Belgium were among the countries with the highest rates of hip and knee replacement. According to OECD iLibrary Health Statistics 2021, there are 174 hip replacements and 137 knee replacements performed for every 100,000 people in OECD nations. Israel, Mexico, Costa Rica, Chile, Portugal, and Ireland all have low replacement rates for the hip and knee. This discrepancy between countries. However, significant differences still exist, and even after age standardization, the nation's ranking does not much change.
Figure 1: Hip replacement surgery, 2021
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Total Hip and Knee Replacements Market Segment Insights
Total Hip and Knee Replacements Procedure Type Insights
The Market segments of Total Hip and Knee Replacements, based on procedure type, include total hip replacement, partial hip replacement, revision hip replacement, total knee replacement, partial knee replacement, and revision knee replacement. The total knee replacement segment is to hold the majority share in 2022 in the Total Hip and Knee Replacements Market revenue. This is due to the increasing prevalence of knee arthroplasty procedures. In addition, most of the patients suffering from knee disorders belong to the geriatric population and hence they require a total knee arthroplasty.
March 2029 DJO Global (US) has announced the launch of the first fully sterile, surgeon-controlled leg and retractor holder for Anterior Approach Hip Arthroplasty at AAOS.
Total Hip and Knee Replacements implant type Insights
The Total Hip and Knee Replacements Market segmentation is based on an implant type, that includes mobile bearing, fixed bearing, and others. The fixed-bearing segment has dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. This is due to its unique clinical characteristics and comparably cheaper cost. Moreover, fixed bearing implants are long-lasting, provide good motion, and are a popular choice of implants. Thus, these implants are long-lasting and provide the consumer with a good experience.
Figure 2: TOTAL HIP AND KNEE REPLACEMENTS MARKET, BY IMPLANT TYPE, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Total Hip and Knee Replacements End User Insights
The Market segmentation of Total Hip and Knee Replacements is based on end-user that includes hospitals, ambulatory surgical centers, orthopedic clinics, and others. The hospital segment has dominated the market in 2022 and ambulatory surgical centers are projected to be the fastest-growing segment during the forecast period, 2023-2030. This is due to the growing number of hip and knee surgeries in hospitals, and the rapid adoption of robots for replacement surgeries. The hospital industry has grown to be the largest industry because knee and hip replacement surgery requires a suitable setup with all the required tools and support procedures readily available to the professional. Therefore, the rising number of inpatient visits and the increasing number of total hip and knee replacement surgical procedures drove the market growth in this segment.
August 2021 Zimmer Biomet (US) a worldwide medical technology company, announced that the company had received the U.S. Food and Drug Administration (FDA) 510(k) clearance of the ROSA Hip System for robotically assisted direct anterior total hip replacement.
Total Hip and Knee Replacements Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. The North American total hip and knee replacements market accounted for the largest market share in 2022. This is attributed to the rising number of hip arthroplasty and increasing strategic collaborations between major players and the rising geriatric population in the region. According to the American Joint Replacement Registry (AJRR), in 2019, around 1.5 million hip and knee arthroplasty surgeries were recorded in the registry. As a result, this promotes the market for total hip and knee replacements to grow. Due to the increasing frequency of orthopedic diseases and the rapid adoption of novel products, the market for joint replacement is anticipated to grow in the region.
Further, the major countries studied are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: TOTAL HIP AND KNEE REPLACEMENTS MARKET BY REGION 2022 & 2030
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe total hip and knee replacements market is expected to account for the second-largest market share due to the favorable health reimbursement, increased demand for customized implants, and an increased number of surgeries in the region. Further, the German market of total hip and knee replacements was attributed to holding the largest market share, and France market of total hip and knee replacements is expected to fastest-growing market in the European region.
The Asia-Pacific total hip and knee replacements market is expected to grow at the fastest rate from 2023 to 2030. This is due to the rising spending in healthcare, quickly evolving healthcare infrastructure, growing medical tourism, and increasing volume of hip replacement surgeries in the region. Moreover, China’s market of total hip and knee replacements is expected to hold the largest market share, and India market of total hip and knee replacements is expected fastest-growing market in the Asia-Pacific region.
Furthermore, according to The Asian Federation of Osteoporosis Societies (AFOS), there were 1.2 million hip fractures overall in 2019, and 2.6 million are anticipated by 2050. Over the next few years, it is anticipated that additional factors will affect the joint replacement market, including the ageing population, and rising healthcare spending in developing Asian economies in the market of total hip and knee replacements.
The Rest of the World includes the Middle East, Africa, and Latin America. The main factors influencing the growth of total hip and knee replacements in the Middle East and Africa are the rising number of orthopedic injuries & diseases and the rise in the adoption of implants, especially in the Middle East. Additionally, it is projected that factors such as the region's aging population, increased disposable income, and changing lifestyles will contribute to the market's expansion.
Total Hip and Knee Replacements Key Market Players & Competitive Insights
The Total Hip and Knee Replacements Market is characterized by the presence of many global, regional, and local vendors catering to the demand created by research scientists and pharmaceutical and biotechnology companies operating in the industry. The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have reached across the globe with diverse Procedure Type portfolios. Companies such as Zimmer Biomet (US), Johnson & Johnson Services, Inc. (US), Stryker (US), and Smith & Nephew (UK) dominate the Total Hip and Knee Replacements Market due to Procedure Type differentiation, financial stability, strategic developments, and diversified regional presence. The players are focused on investing in extensive research and development as well. Furthermore, they adopt strategic growth initiatives, such as expansion, Procedure Type launches, joint ventures, and partnerships, to strengthen their market position and capture a large customer base.
One of the primary business strategies adopted by manufacturers in the global total hip and knee replacements industry to benefit clients and expand the total hip and knee replacements market sector is to manufacture locally to reduce operating costs
Stryker (US) is engaged in developing, manufacturing, and marketing specialty surgical and medical products. Its products include implants, biologics, surgical, neurologic, ear, throat, interventional pain equipment, endoscopic, surgical navigation, communications, and digital imaging systems. The company also offers products for patient handling and emergency medical equipment. It operates through three major segments: medical & surgical equipment (MedSurg), orthopedics, and neurotechnology & spine. Stryker has been focused on providing automation solutions in its product portfolio. It has a presence in over 75 countries across the globe. For instance, in March 2023, Stryker (US) introduced Mako Total Knee 2.0 at the AAOS 2023 Annual Meeting in Las Vegas. Mako Total Knee 2.0 is designed to deliver the same, trusted outcomes surgeons expect from Mako with a new, elevated user experience.
Also, Johnson & Johnson Services, Inc. (US) (J&J Services) manufactures and sells a broad range of healthcare products. The company manufactures products related to human health and well-being. Its business segment involves consumer health, pharmaceutical, and medical devices. Its consumer health segment involves skin health/beauty, baby care, over-the-counter medicines, women's health, and wound care markets. Its pharmaceutical segment is focused on six therapeutic areas, including immunology, infectious diseases, oncology, cardiovascular and metabolism, and pulmonary hypertension. It has research facilities in the US, Belgium, Brazil, Canada, China, France, Germany, India, Israel, Japan, the Netherlands, Singapore, Switzerland, and the UK.
Key Companies in the market of total hip and knee replacements include
- Zimmer Biomet (US)
- Johnson & Johnson Services, Inc. (US)
- Stryker (US)
- Smith & Nephew (UK)
- Braun SE (Germany)
- Wright Medical Group N.V. (US)
- Corin Group (UK)
- Exactech, Inc. (US)
- DJO, LLCÂ (US)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China)
Total Hip and Knee Replacements Industry Developments
August 2021Â DJO, LLCÂ (US) launched New EMPOWER Dual Mobility Hip System at AAOS at the 2021 Annual Meeting of the American Academy of Orthopaedic Surgeons (AAOS). EMPOWR Dual Mobility is the latest addition to the EMPOWR Hip portfolio that provides surgeons with a solution to treat a large patient group needing better joint stability.
January 2022 Smith & Nephew (UK) acquired the cementless partial knee system from Engage Uni, LLC (US). By acquiring Nephew, Engage Surgical will be able to connect with the CORI surgical system and broaden its influence.
August 2022Â Exactech, Inc. (US) introduced the Spartan Stem and Logical Cup System for complete hip arthroplasty. The launch's objective is to deliver the efficient tools, technologically cutting-edge implants, and ASC-friendly solutions that institutional clients and medical professionals have been requesting.
Total Hip and Knee Replacements Market Segmentation
Total Hip and Knee Replacements Procedure Type Outlook
- Total Hip Replacement
- Partial Hip Replacement
- Revision Hip Replacement
- Total Knee Replacement
- Partial Knee Replacement
- Revision Knee Replacement
Total Hip and Knee Replacements Implant Type Outlook
- Mobile Bearing
- Fixed Bearing
- Others
Total Hip and Knee Replacements End User Outlook
- Hospitals
- Ambulatory Surgical Centers
- Orthopedic Clinics
- Others
Total Hip and Knee Replacements Regional Outlook
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 20.64 billion |
| Market Size 2023 |
USD 21.63 billion |
| Market Size 2030 |
USD 30.03 billion |
| Compound Annual Growth Rate (CAGR) |
4.80% (2023-2030) |
| Base Year |
2022 |
| Forecast Period |
2023-2030 |
| Historical Data |
2019 to 2021 |
| Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Procedure Type, Implant Type, End User, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Zimmer Biomet (US), Johnson & Johnson Services, Inc. (US), Stryker (US), Smith & Nephew (UK), B. Braun SE (Germany), Wright Medical Group N.V. (US), Corin Group (UK), Exactech, Inc. (US), DJO, LLC (US), and Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China) |
| Key Market Opportunities |
Growing adoption of robot-assisted innovative surgeriesTechnologically advancements in implant technology |
| Key Market Dynamics |
Increase in prevalence of osteoarthritis & increasing cases of orthopedic injury.Growing number of partial replacement surgeries globallyRising elderly population |
Total Hip Knee Replacements Market Highlights:
Frequently Asked Questions (FAQ) :
The Total Hip and Knee Replacements Market is anticipated to reach 30.03 billion at a CAGR of 4.80% during the forecast period of 2023-2030.
The US is expected to hold a 70-80% share of the North American market for the total hip and knee replacements market during the forecast period of 2023-2030.
The total hip and knee replacements market is expected to grow at a 4.80% CAGR during the forecast period from 2023 to 2030.
The North American region market held the largest market share in the total hip and knee replacements market.
The key players include Zimmer Biomet (US), Johnson & Johnson Services, Inc. (US), Stryker (US), Smith & Nephew (UK), B. Braun SE (Germany), Wright Medical Group N.V. (US), Corin Group (UK), Exactech, Inc. (US), DJO, LLC (US), and Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China).
The fixed bearing segment was estimated to lead the total hip and knee replacements market.
The hospital segment is attributed to having the largest market share based on end user.
