Total Knee Replacement Market Size, Share, Growth Analysis, By Type(Primary Knee Replacement Systems, Revision Knee Replacement Systems, Partial Knee Replacement Systems), By Implant Type(Fixed-Bearing Implants, Mobile-Bearing Implants), By Procedure(Total Knee Arthroplasty, Partial Knee Arthroplasty, Revision Arthroplasty), By Fixation Type(Cemented, Cementless, Hybrid, Reverse Hybrid), By End-Use(Hospitals, Orthopedic Clinics), By Region - Industry Forecast 2024-2031

Total Knee Replacement Market Driver

• The rising prevalence of knee osteoarthritis will drive the market.

One of the major factors likely to boost demand for bone surgeries in the future is a rise in the incidence of knee osteoarthritis around the world. The rise in the adult population's diagnosis rate of knee arthritis is expected to increase demand for knee implants in the coming years. According to the Osteoarthritis Research Society International (OARSI), the pervasiveness of global knee osteoarthritis is likely to reach 5% and is expected to rise as the population ages. The rapid aging of the population, as well as the growing epidemics of obesity, are likely to fuel demand for knee replacement surgeries during the forecast period. According to the Arthritis Foundation, the annual incidence of knee osteoarthritis in the United States is highest between the ages of 55 and 64. These factors are expected to accelerate the global demand over the forecast year.

• Technological Advances to Improve Procedure Efficacy and Attract More Patients

Rising awareness of material advancements and designs of knee implants, as well as robot-assisted knee surgeries, are nowadays the key trends influencing sales of these product lines used in replacement surgeries. Robot-assisted technology is improving procedure accuracy and decreasing reliance on surgeons for procedural consequences. In addition, with the addition of robotic surgery to their portfolio, numerous key players in the market are providing more comprehensive knee implants. For instance, Smith & Nephew acquired Blue Belt Holdings, Inc. in 2016 to gain access to the Navio Surgical System, which provides robot assistance in partial knee surgeries via a CT-free navigation system and a handheld robotic bone shaping device.

Total Knee Replacement Market Restraint

• The High Cost of Inserts and The Development Of Mindfulness For Non-Careful Treatment Techniques Are Likely To Stymie Market Growth.

Knee replacement procedures are carried out using implants made of precious metals and advanced technologies. 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 the market growth over the forecast year.