USD 10.34 billion
Knee Replacement Market Size, Share, Growth Analysis, By Procedure type(Total Knee Replacement, Partial Knee Replacement, and Revision Knee Replacement), By Component(Fixed-bearing Implants, and Mobile-bearing Implants), By End User(Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, and Others.), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35A2187 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
64
|Figures:
78
Knee Replacement Market Insights
Knee Replacement Market size was valued at USD 10.93 Billion in 2023 and is poised to grow from USD 11.55 Billion in 2024 to USD 17.95 Billion by 2032, growing at a CAGR of 5.67% during the forecast period (2025-2032).
Increasing incidence of road accidents leading to amputations is also anticipated to propel the knee replacement market growth over the forecast period. The use of advanced technologies such as artificial intelligence (AI) and robotics increases the efficiency of surgical procedures. Globally, there is an increasing demand for these technologically based medical devices. AI assists surgeons in developing a highly personalized surgical plan that analyses each patient's dynamic knee motion. Increased R&D spending and increased new product launches in robotics are expected to drive market growth in the near future.
In the coming years, knee replacement technologies will advance at a rapid pace. All surgical procedures will be performed using robotic technologies, which will produce better results as well as a quicker recovery time. People suffering from knee pain will receive better care. For instance, minimally invasive surgery (MIS) includes one of the most recent advances in knee replacement surgery.
Technological advancements in the field of knees, hips, and extremities are increasing revenue. For instance, Stryker Corporation introduced the Mako Total Hip 4.0 smart robotic system. The system enables surgeons and physicians to plan the patient's implant position while accounting for changes in pelvic tilt in standing, sitting, and supine poses.
US Knee Replacement Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Fixed-bearing Implants
Fastest Growth
Mobile-bearing Implants
Growth Rate
5.67% CAGR
Global Knee Replacement Market, 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Knee Replacement Market Segmental Analysis
Global Knee Replacement Market is segmented based on the Procedure type, Component, End User, and region. Based on Procedure type, the Knee Replacement Market is segmented Total Knee Replacement, Partial Knee Replacement, and Revision Knee Replacement. Based Component, the Knee Replacement Market is segmented into Fixed-bearing Implants and Mobile-bearing Implants. Based on End User, the Knee Replacement Market is categorized into Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, and Others. By region, the Knee Replacement Market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Analysis by End User
The hospitals segment dominated the knee replacement industry and held the largest revenue share of over 58.0% in 2023 owing to the presence of advanced treatment options. Moreover, the availability of favorable reimbursement policies through Medicare and Blue Cross Blue Shield is further driving segment growth. Most knee replacement surgeries are performed in hospitals due to the wide availability of advanced technologies and qualified specialists in these healthcare settings. In addition, increasing preference for hospitals among patients as if they offer notable intensive care during post-surgical procedures is expected to fuel the growth of this segment over the forecast period.
As per knee replacement market outlook, the orthopedic clinics segment is expected to grow rapidly during the forecast period due to a rise in the number of sports injuries, trauma accidents, and other chronic diseases. Factors such as shorter stay duration, reduced wait times, and personalized care have increased the demand for these clinics. Additionally, orthopedic clinics can offer cost-effective services and treatments due to their lower costs than hospitals. Such trends are expected to drive the segment in the coming years. With the increase in the number of patients preferring orthopedics, the number of such clinics has increased dramatically.
Analysis by Procedure Type
As per knee replacement market analysis, the total knee replacement segment dominates due to its widespread use and proven effectiveness in severe knee joint damage due to osteoarthritis, arthritis, or injury. The technique’s ability to dramatically improve mobility and quality of life is driving its adoption worldwide. Furthermore, advances in implant materials and surgical techniques such as robot-assisted TKR increase surgical accuracy and outcomes, further complicating the dominance of this segment. Insurance comprehensive insurance coverage for TKR in many developed countries also contributes to its strong market position. Total knee replacement remains dominant because it addresses a broader patient base with severe joint damage and offers consistent, long-term results.
The partial knee replacement segment is experiencing remarkable growth, with increasing demand for minimally invasive surgical treatments. PKR is usually performed on patients with localized damage in a specific area of the knee, preserving healthy cartilage. The advantages of PKR such as shorter recovery time, decreased postoperative pain, and increased patient satisfaction fueling its adoption. Advances in diagnostic imaging and surgical tools have provided more accurate candidate selection and improved treatment outcomes making PKR an increasingly viable alternative. This segment is particularly appealing to younger patients or those seeking quicker recovery for an active lifestyle, contributing to its rapid growth trajectory.
Global Knee Replacement Market By Component, 2022 (%)
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Knee Replacement Market Regional Insights
As per knee replacement market forecast, the North America region is dominating. The major factors likely to boost the market growth in North America are rise in the number of individuals diagnosed with rheumatoid arthritis and increase in geriatric population count. Furthermore, the rising penetration of computer-aided implant designs, robot-assisted surgeries in the United States, and favorable reimbursement scenarios are expected to propel the knee replacement market in the United States during the forecast period. Rising factors such as prevalence of osteoporosis, aging population, a number of trauma and accident cases is projected to drive demand for knee replacements in North America.
The Asia Pacific region in the market is expected to grow rapidly during the forecast period, owing to the rising prevalence of knee disorders, flourishing medical tourism, rising disposable incomes, and progressively improving healthcare infrastructure. However, a rising number of orthopedic injuries and diseases, as well as an increase in the adoption of replacement procedures, are expected to drive the growth of the market. As per The Asian Federation of Osteoporosis Societies (AFOS), a total of 1.2 million hip fractures occurred in 2019, which is expected to reach 2.6 million by 2050.
Global Knee Replacement Market By Region, 2022-2030
- Largest
- Fastest
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Knee Replacement Market Dynamics
Knee Replacement Market Driver
Increasing Prevalence of Osteoporosis and Aging Population
- The increasing prevalence of osteoarthritis, especially in the elderly population, is a major driver of the knee replacement market. Osteoporosis affects millions of people worldwide, and its severity increases as the population ages. This condition often causes knee pain and loss of mobility, leading many people to seek knee replacement surgery. Moreover, advancements in healthcare and surgical procedures are making these procedures accessible to elderly patients, leading to market growth.
Technological Advances in Knee Replacement Techniques
- The combination of advanced technologies such as robotics, 3D printing and personalized implants has revolutionized knee replacement surgery. Robotic assist systems ensure accuracy, reduce surgical errors, and improve patient outcomes. 3D printing now allows knee implants to be customized, allowing for a better fit and better recovery after surgery. These innovations not only attract healthcare professionals but also encourage patients to choose knee replacements that will improve effectiveness and reduce recovery time.
Knee Replacement Market Restraints
High Cost of Knee Replacement Surgery
- Despite advancements, the cost of knee replacement surgery remains a significant barrier, especially in developing countries. Procedures often require expensive equipment, surgeons and expensive implants, making them inaccessible for many patients without robust health insurance. This financial burden limits the potential growth of the market, especially in areas where adequate healthcare payment infrastructure is not available.
Postoperative Complications and Long Recovery Time
- Postoperative risk factors, such as infection, bleeding, and implant failure pose significant challenges to market expansion. In addition, the long recovery time associated with knee replacement often discourages potential surgeons from choosing surgery. These factors underscore the need for further research and innovation to reduce risks and improve recovery times.
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Knee Replacement Market Competitive Landscape
The knee replacement market is fragmented, with many large and small players in the industry. To gain market share, key players are implementing business strategies such as diverse product offerings, regional expansion, partnerships, and new product launches. For instance, De Puy Synthes' VELYS Robotic-Assisted Solution for use with the ATTUNE Total Knee System received 510(k) clearance from the US FDA in January 2021.
Knee Replacement Market Top Player's Company Profiles
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
- Smith & Nephew plc
- Johnson & Johnson (DePuy Synthes)
- Medacta International SA
- MicroPort Scientific Corporation
- DJO Global Inc.
- Exactech Inc.
- ConforMIS, Inc.
- Arthrex, Inc.
- Corin Group PLC
- Waldemar Link GmbH & Co. KG
- B. Braun Melsungen AG
- LimaCorporate S.p.A.
- JRI Orthopaedics Ltd.
- Zimmerer GmbH
- Mathys AG Bettlach
- Japan MDM, Inc.
- United Orthopedic Corporation
- Ortosintese
Knee Replacement Market Recent Developments
- In September 2022, Palm Beach Gardens Medical Center expanded its orthopedic program with the acquisition of two Mako SmartRoboticsTM, the only and first in Palm Beach County. Dr. Robert Avino, an orthopedic surgeon, completed the first case at the hospital using Mako SmartRoboticsTM.
- In August 2021, Zimmer Biomet Holdings, Inc. and Canary Medical announced U.S. Food and Drug Administration (FDA) De Novo type supply and authorization to market.
- In June 2021, Think Surgical Inc. and Ortho Development Corporation introduced the FDA clearance of Ortho Development's Balanced Knee System and TriMax implants with Think Surgical's TSolution.
Knee Replacement Key Market Trends
- Increased Hospitalization of Knee Replacements: Outpatient or same-day knee replacement surgery is on the rise due to its convenience and cost-effectiveness. With advanced surgical techniques and improved pain management, these procedures allow patients to return home the same day. This knee replacement market trend is particularly evident in developed areas, where healthcare systems aim to reduce inpatient costs while providing high quality care.
- Increased Focus on Less Invasive Strategies: Minimally invasive knee replacement surgery is the preferred option due to its many advantages, such as reduced pain, shorter hospital stays and faster recovery time. These procedures have smaller incisions and do not damage to surroundings tissues, making them more appealing to patients and surgeons alike. The increasing adoption of these strategies underscores the shift toward effective patient-centered healthcare solutions.
Knee Replacement Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, rise in prevalence of rheumatoid arthritis, osteoarthritis, and post-traumatic arthritis will provide several opportunities for market growth. Furthermore, knee arthroplasty has provided an opportunity for key players to operate in a market that is primarily driven by patient dissatisfaction with knee replacement. As a result, manufacturers have begun to use various biomaterials for increased strength to meet this growing demand. Furthermore, due to increasing success rates, technological advancements, and the easy availability of durable and higher-quality implants, knee replacement procedures are in high demand. Furthermore, the strict regulations for product approval make these products expensive. These products have been restricted from entering developing regions with limited healthcare spending and a scarcity of skilled surgeons. These factors are expected to restrain market growth over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 10.34 billion |
| Market size value in 2031 | USD 16.99 billion |
| Growth Rate | 5.67% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Knee Replacement Market Recent Developments
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Knee Replacement Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Knee Replacement Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Knee Replacement Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Knee Replacement Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Knee Replacement Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Knee Replacement Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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