The knee replacement market is growing with rising demand for advanced surgeries, robotic assistance, and custom implants, leading to better patient outcomes.

AUSTIN, TX, UNITED STATES, November 18, 2024 /EINPresswire.com/ -- The Knee Replacement Market was esteemed at USD 9.78 billion in 2023 and is anticipated to reach USD 12.76 billion by 2032, growing at a CAGR of 3% over the forecast period 2024-2032. The market is driven by the increasing adoption of advanced knee replacement techniques, the rising geriatric population, and growing awareness about minimally invasive procedures.

Overall Reason for Growth

The growth of the knee replacement market can be attributed to the aging global population and the increasing prevalence of knee disorders such as osteoarthritis. Additionally, advancements in implant technologies, including mobile-bearing and cementless implants, are making knee replacements more effective and accessible. The rise in healthcare investments and surgical innovations, including robotic-assisted surgeries, is also accelerating the market’s expansion.

Market Overview

The Knee Replacement Market has witnessed significant growth due to the increasing number of knee surgeries worldwide. The rising demand is primarily driven by the aging population, which is more susceptible to joint diseases, and the growing prevalence of conditions such as arthritis. Knee replacement surgeries help patients regain mobility and improve their quality of life, contributing to the demand for these procedures. Additionally, technological innovations in knee implant materials, such as the development of more durable and lightweight materials, have made knee replacements more appealing to patients and healthcare providers. Supply is expanding with a growing number of hospitals and surgical centers adopting advanced implant technologies and robotic assistance for surgeries. This shift towards more advanced procedures is helping meet the rising demand and improving the overall efficiency of knee replacement surgeries.

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Key Players:
➢Aesculap Implants Systems LLC
➢Allegra Orthopedics Limited
➢Medacta International
➢Zimmer Inc.
➢Corin Group
➢Stryker
➢DePuy Synthes
➢Smith and Nephew
➢Kinamed Inc.
➢Exatech Inc

Segment Analysis

By Component Type
➢Mobile-bearing Implants
➢Fixed-bearing Implants

Mobile-bearing Implants segment is expected to witness the fastest growth during the forecast period, driven by advancements in mobility and reduced wear rates. Mobile-bearing implants allow for more natural movement, which reduces the risk of implant failure and improves patient outcomes. This segment is particularly appealing to younger patients who are more active.

Fixed-bearing Implants segment dominated the market, holding a larger market share due to their reliability and long-established track record in knee replacement surgeries. Fixed-bearing implants are commonly used in older patients due to their proven success and longevity.

By Procedure Type
➢Primary Knee Replacement
➢Revision Knee Replacement
➢Cemented Knee Replacement
➢Partial Knee Replacement
➢Cementless Knee Replacement

The primary Knee Replacement segment held the largest share, with primary knee replacement surgeries being the most common form of procedure performed for patients with knee osteoarthritis.

The fastest-growing segment, revision knee surgeries, is increasing due to the aging of the population and the extended longevity of primary knee implants.

By End Users
➢Hospitals
➢Ambulatory Surgical Centers

Hospitals dominated the knee replacement market in 2023 as the primary setting for knee replacement surgeries. This segment benefits from the availability of advanced surgical equipment, experienced professionals, and the capacity to perform a wide range of knee replacement procedures.

Ambulatory surgical centers are experiencing rapid growth due to the demand for cost-effective and less invasive knee replacement procedures.

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Dominating and Fastest-Growing Regions

North America

North America held the largest share of the knee replacement market, driven by the high adoption of advanced surgical techniques, strong healthcare infrastructure, and the growing aging population. The U.S. is the dominant player in this region, with several leading companies such as Stryker, Zimmer Biomet, and Johnson & Johnson driving innovation. The increasing preference for minimally invasive surgeries and robotic-assisted knee replacement procedures has also contributed to the region's growth. The demand for knee replacement surgeries in North America is expected to continue growing due to an expanding elderly population and the growing prevalence of obesity, which is a significant risk factor for joint diseases.

Asia Pacific

Asia Pacific is expected to witness the fastest growth in the knee replacement market, driven by an aging population and improving healthcare infrastructure in countries like China, India, and Japan. In particular, India is seeing a surge in knee replacement surgeries due to the rise in healthcare investments, improved access to medical technologies, and increasing awareness about joint health. For instance, in February 2024, KEM Hospital in Mumbai incorporated a robotic arm for knee replacement procedures, making it one of the first public hospitals in India to offer such services. This reflects the growing trend of advanced, cost-effective knee replacement procedures in the region. The expansion of surgical centers in these countries and the rising demand for affordable healthcare options are expected to further drive the market.

Recent Developments in the Knee Replacement Market

➢February 2024:KEM Hospital, Mumbai, integrated a robotic arm for knee replacement procedures, becoming one of the first public hospitals in India to perform these surgeries. This innovation allows for more precision in surgeries and enhances recovery times for patients.
➢December 2023:Stryker, a leading medical technology company, acquired SERF SAS, a French joint replacement company. This acquisition strengthens Stryker’s position in the European knee replacement market and expands its product portfolio.

The knee replacement market is poised for steady growth as technological innovations continue to improve outcomes and reduce recovery times for patients worldwide. This growth is supported by an increasing demand for knee replacement surgeries, particularly in regions with an aging population and expanding access to healthcare facilities.

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