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 2024-2031

Global Knee Replacement Market size was valued at USD 10.34 billion in 2022 and is poised to grow from USD 10.93 billion in 2023 to USD 16.99 billion by 2031, at a CAGR of 5.67% during the forecast period (2024-2031).

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.