Knee Replacement Market Size and Forecasts (2032)
Knee Replacement Market Business insights
The Knee Replacement Market is witnessing steady growth, driven by the increasing prevalence of osteoarthritis, advancements in surgical techniques, and rising demand for minimally invasive procedures. The market size was valued at USD 9.78 billion in 2023 and is projected to reach USD 12.38 billion by 2031, expanding at a compound annual growth rate (CAGR) of 3% over the forecast period from 2024 to 2031.
In 2023, the knee replacement market was valued at USD 9.78 billion and is expected to reach USD 12.38 billion by 2031, growing at a CAGR of 3% during the forecast period from 2024 to 2031. This growth is driven by an aging population, rising incidence of osteoarthritis and other knee disorders, and advancements in knee replacement technologies. Improved surgical techniques and the development of more durable and efficient knee implants are further fueling market expansion.
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Knee Replacement Market Segments
By Product Type:
- Total Knee Replacement
- Partial Knee Replacement
- Revision Knee Replacement
By Implant Type:
- Fixed-Bearing Implants
- Mobile-Bearing Implants
- Other Implants
By Material:
- Metal-on-Plastic
- Ceramic-on-Plastic
- Ceramic-on-Ceramic
- Metal-on-Metal
By End User:
- Hospitals
- Orthopedic Clinics
- Ambulatory Surgical Centers
The Major Key Players in Knee Replacement Market
- Zimmer Biomet Holdings, Inc.
- Stryker Corporation
- Johnson & Johnson (DePuy Synthes)
- Smith & Nephew plc
- Medtronic PLC
- B. Braun Melsungen AG
- Conformis, Inc.
- MicroPort Scientific Corporation
- DJO Global, Inc.
- Exactech, Inc.
Report Scope
The Knee Replacement market includes a wide range of products, such as total knee replacements, partial knee replacements, and revision knee replacements. It serves diverse end users, including hospitals, orthopedic clinics, and ambulatory surgical centers, and is characterized by the adoption of various implant types and materials to enhance patient outcomes.
The market’s scope also encompasses innovations in implant materials and surgical techniques, aimed at improving the longevity of knee replacements and reducing recovery times.
Market Analysis
Valued at USD 9.78 billion in 2023, the Knee Replacement market is expected to grow moderately, reaching USD 12.38 billion by 2031. The growth is driven by an aging global population, increasing rates of obesity, and the rising prevalence of knee-related conditions such as osteoarthritis. Additionally, advancements in implant design and surgical techniques are contributing to better patient outcomes and driving market expansion.
Moreover, the growing preference for minimally invasive knee replacement surgeries, which offer shorter recovery times and reduced post-operative pain, is further propelling the market forward.
Emerging Trends and Opportunities
- Robotics and Computer-Assisted Surgery: The increasing integration of robotics and computer-assisted surgical systems in knee replacement procedures, enhancing precision and outcomes.
- Personalized Implants: The development of patient-specific implants based on advanced imaging and 3D printing technologies, improving the fit and function of knee replacements.
- Minimally Invasive Techniques: Growing adoption of minimally invasive surgical techniques that reduce recovery times and improve overall patient satisfaction.
Table of Content
- Chapter 1: Introduction
- Chapter 2: Research Methodology
- Chapter 3: Knee Replacement Market Dynamics
- Chapter 4: Impact Analysis (COVID-19, Ukraine-Russia war, Ongoing Recession on Major Economies)
- Chapter 5: Value Chain Analysis
- Chapter 6: Porter’s 5 Forces Model
- Chapter 7: PEST Analysis
- Chapter 8: Knee Replacement Market Segmentation, By Product Type
- Chapter 9: Knee Replacement Market Segmentation, By Implant Type
- Chapter 10: Knee Replacement Market Segmentation, By Material
- Chapter 11: Knee Replacement Market Segmentation, By End-user
- Chapter 12: Knee Replacement Market - Regional Analysis
- Chapter 13: Company Profile
- Chapter 14: Competitive Landscape
- Chapter 15: Use Case and Best Practices
- Chapter 16: Conclusion
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