Total knee arthroplasty procedures are performed to restore mobility and relieve pain in patients suffering from osteoarthritis or cartilage damage in the knee joints. Knee implants help reconstruct leg anatomy by resurfacing the weight-bearing surfaces of the thigh bone and shin bone.

The global Total Knee Arthroplasty Market is estimated to be valued at US$ 9452.32 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rising geriatric population is one of the primary drivers of the total knee arthroplasty market. Age is one of the most common risk factors for knee osteoarthritis, with most patients undergoing knee replacement procedures being aged 65 years and older. Statistics show that the 65 years and above population is expected to increase from 542 million in 2010 to around 1.5 billion by 2050. With advancing age comes an increased susceptibility to osteoarthritis due to wear and tear of the cartilage cushioning the ends of bones. This propels the demand for knee replacement surgeries globally.

SWOT Analysis
Strength: Total knee arthroplasty is a standard treatment for end-stage knee osteoarthritis. It provides pain relief and improves joint function and mobility.
Weakness: The procedures involve risks such as infection, blood clots, stiffness and loosening of implants over time. There is also a long recovery period post surgery.
Opportunity: Rising geriatric population and corresponding increase in knee osteoarthritis cases present an opportunity for market growth. Growing medical tourism in developing countries is another growth driver.
Threats: Availability of alternative treatments like knee bracing and viscosupplementation acts as a threat. Economic slowdowns can negatively impact the market.

Key Takeaways

The Total Knee Arthroplasty Market Demand is expected to witness high growth over the forecast period. Rising prevalence of knee osteoarthritis due to obesity, sports injuries and aging is a key growth driver. The global Total Knee Arthroplasty Market is estimated to be valued at US$ 9452.32 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030.

Regional analysis comprises: Asia Pacific region is expected to witness fastest growth in the total knee arthroplasty market during the forecast period. Countries like India, China, South Korea and Thailand have emerged as top medical tourism destinations for knee replacement surgeries. Rising medical expenditures, availability of low-cost treatment options and improving healthcare infrastructure continue to attract patients from Western countries in the region. Lower procedure costs coupled with good post-operative outcomes will drive the demand.

Key players operating in the total knee arthroplasty market are AssurX, Sparta Systems, Oracle Corporation, Xybion Corporation, Sarjen Systems Pvt. Ltd., MDI Consultants, AB-Cube, QVigilance, Qserve, and ZEINCRO. Increasing consolidation among medical device makers is a key trend in the market. Players are focusing on developing advanced products with improved material and design to reduce risks of failures and revisions. Introduction of customized knee implants based on 3D printing technology also presents opportunities.

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