The Global Total Knee Arthroplasty Market is estimated to be valued at US$ 10889.08 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period between 2024 to 2031.

Key Takeaways

Key players operating in the Total Knee Arthroplasty Market include Depuy Synthes (Johnson & Johnson), Zimmer Biomet Holdings, Inc., MicroPort Scientific Corporation, Conformis Inc., Corin Group, Exactech Inc., DJO LLC. (Colfax Corporation), Medacta International, Smith & Nephew plc, Stryker Corporation, Baumer SA, SurgTech Inc., and Meril Life Sciences Pvt. Ltd. Depuy Synthes and Zimmer Biomet collectively control over 50% of the Market.

The increasing geriatric population, rising prevalence of osteoarthritis, and favorable reimbursement policies are fueling Total Knee Arthroplasty Market Growth procedures globally. Advancements in implant materials, designs, and surgical approaches are further widening the scope of knee replacement procedures.

Major players are expanding their international presence in high growth Markets like China, India, and certain Latin American countries to tap the substantial opportunities offered by these emerging economies. Promising annual procedure volume growth of over 10% YOY is reported in some Asian and Latin American countries.

Market Drivers

The rapidly growing geriatric population is a major driver for the Total Knee Arthroplasty Market. Individuals aged 65 and above are most susceptible to knee injuries and osteoarthritis due to natural wear and tear associated with aging. As life expectancy increases worldwide, the number of knee replacement procedures is projected to rise sharply in the coming years. For example, statistics indicate that over 14% of the United States population will be aged 65 or older by 2030. The increasing elderly demographic is expected to propel significant demand in the Total Knee Arthroplasty Market.

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