Knee Replacement Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Total Knee Replacement Market Forecast and it is Segmented by Product (Total Knee Replacement, Partial Knee Replacement, Kneecap Replacement, Complex (or revision) Knee Replacement), by End User (Hospitals, Orthopedic Centers, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The Values are Provided in Terms of USD Million for above segments.

Total Knee Arthroplast Market Size

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knee replacement market
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Study Period 2019 - 2029
Market Size (2024) USD 11.74 Billion
Market Size (2029) USD 14.80 Billion
CAGR (2024 - 2029) 4.73 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

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*Disclaimer: Major Players sorted in no particular order

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Total Knee Arthroplast Market Analysis

The Global Knee Replacement Market size is estimated at USD 11.74 billion in 2024, and is expected to reach USD 14.80 billion by 2029, growing at a CAGR of 4.73% during the forecast period (2024-2029).

COVID-19 has adversely impacted the knee replacement market. The pandemic caused added challenges for patients with some form of disability. Due to social distancing, many hospitals were restricted to non-elective procedures and surgeries. Instead, they offered patients video conferencing with disabilities to overcome the limitations of the market growth.

The disruption in the supply chain during COVID-19 and delay in delivery of essential products required for manufacturing the knee replacement devices also adversely affected the knee replacement market. Some major issues faced by the market during a pandemic include trucking bottlenecks and port checkpoints slowing down their deliveries, including critical supplies, export bans imposed in many countries, only a few functional manufacturing units, lack of healthcare workers to transport and produce products, and lack of healthcare workers to transport and produce products. However, companies are taking definite measures to ensure a proper supply of bionics to the patients. For instance, one of the key players, Cochlear Ltd, is currently focusing on maintaining a consistent supply chain for its customers to supply implants for surgeries.Therefore, such a restraining factor imposed an adverse impact on the market initially, however, in later times the positive developments helped the market to gain positive momentum, thereby propelling the market growth.

Increasing incidence of road accidents leading to amputations is also anticipated to propel the market growth over the forecast period. For instance, according to the data published by the National Highway Traffic Safety Administration in the United States, in May 2022, traffic fatalities witnessed an increase of around 10.5% in 2021 from 2020. It also reported that fatalities on urban roads were around 57.0% in March 2020, which became 62.0% in March 2021, which is almost a 5.0% increase from the previous year. Similarly, according to the data published by the World Health Organization in June 2022, road traffic injuries are one of the leading causes of death among young adults aged 5 to 29 years and children. It also reported around 93.0% of the world's fatalities mostly occur in middle and low-income countries. African region witnesses the highest road traffic injuries and European countries witness lowest road traffic injuries and more than 20.0 million to 50.0 million people across the globe suffer from non-fatal injuries and survive with disability and amputations. Hence, such factors are expected to increase the demand of knee replacement, thereby surging the market growth over the forecast period.

However, high cost of the implants and procedure & reimbursement issues are likely to impede the market growth over the forecast period.

Total Knee Arthroplast Market Trends

This section covers the major market trends shaping the Knee Replacement Market according to our research experts:

Hospitals Segment is Expected to Hold the Largest Share of the Market Over The Forecast Period

The hospitals segment has the largest share in the market, as the majority of knee replacement surgeries are conducted in hospitals, due to the availability of advanced technologies and trained professionals in these healthcare settings. In addition, increasing preference for hospitals among patients as if offers notable intensive care during post-surgical procedures is expected to fuel the growth of this segment over the forecast period.

For instance, as per the report published by the Canadian Institute of Health Information in June 2021, knee replacements in Canada are among the top 3 inpatient surgeries which are performed each year. Similarly, as per the study titled, 'India Joining the World of Hip and Knee Registries' published by the National Library of Medicine in September 2020, the number of joint replacements in India is expected to grow at the highest rate in the world from 2020 to 2026.

Therefore, knee replacement surgeries in hospitals across the globe are expected to propel the segment growth over the forecast period.

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North America Holds the Largest Share of the Knee Replacement Market

North America is expected to dominate the overall knee replacement market, throughout the forecast period. The growth is due to factors such as the rising cases of accidents and an increase in the prevalence of people suffering from degenerative diseases. For instance, as per the report published by the Canadian Institute for Health Information in June 2021, in Canada, around 75,073 knee replacements were performed in 2020. It also reported that the healthcare expenditure on knee replacement surgery counts up to more than USD 1.4 billion annually in Canada. However, the lockdown has made life especially tough for the disabled population in the region. Thus, in countries such as the United States, in 2020, the Disability Inclusion Fund (DIF) announced the launch of a USD 200,000 rapid response fund to support the needs of people with disabilities related to the impact of COVID-19. Therefore, such an instance indicates moderate market growth in this region.

Key product launches, high concentration of market players or manufacturer's presence, and acquisition & partnerships among major players in the United States are some of the factors driving the growth of the knee replacement market in the country. For instance, in November 2021, OrthAlign, a privately held company in the United States launched, Lantern, the latest handheld smart tool for knee replacement surgery. The tool enables accurate, individualized alignment to any patient with a single use, a handheld smart tool that can be used across implant platforms and surgical philosophies. Such continuous product launches are anticipated to drive the growth of the market in the country.

Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the North America Region.

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Total Knee Arthroplast Industry Overview

The knee replacement market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known including Corin Group, Johnson & Johnson (DePuy Synthes Companies), Smith & Nephew PLC, Stryker Corporation, Zimmer Biomet, Exactech Inc., Medacta, MicroPort Orthopedics Inc., Medtronic PLC, and SurgTech Inc., and Exactech, Inc. among others.

Total Knee Arthroplast Market Leaders

  1. SurgTech Inc.

  2. Corin Group

  3. Smith & Nephew

  4. Zimmer Biomet

  5. Stryker

*Disclaimer: Major Players sorted in no particular order

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Total Knee Arthroplast Market News

  • In August 2021 , Zimmer Biomet Holdings, Inc. and Canary Medical announced U.S. Food and Drug Administration (FDA) De Novo classification grant and authorization to market the tibial extension for Persona IQ, the world's first and only smart knee cleared by the FDA for total knee replacement surgery.
  • In June 2021, Think Surgical Inc. and Ortho Development Corporation announced the FDA clearance of Ortho Development's Balanced Knee System and TriMax implants with Think Surgical's TSolution One Total Knee Application.

Total Knee Arthroplast Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Defination

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 High Incidence of Road Accidents Leading to Amputations

      2. 4.2.2 Increasing Prevalence of Osteoarthritis & Rise in the Number of Knee Injury Cases

      3. 4.2.3 Technological Advancements

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of the Implants and Procedure & Reimbursement Issues

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Total Knee Replacement

      2. 5.1.2 Partial Knee Replacement

      3. 5.1.3 Kneecap Replacement

      4. 5.1.4 Complex (or revision) Knee Replacement

    2. 5.2 By End User

      1. 5.2.1 Hospitals

      2. 5.2.2 Orthopedic Centers

      3. 5.2.3 Other End Users

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 B. Braun (Aesculap Implants Systems LLC)

      2. 6.1.2 Corin Group

      3. 6.1.3 Johnson & Johnson (DePuy Synthes Companies)

      4. 6.1.4 Smith & Nephew PLC

      5. 6.1.5 Stryker Corporation

      6. 6.1.6 Zimmer Biomet

      7. 6.1.7 Exactech Inc.

      8. 6.1.8 Medacta

      9. 6.1.9 MicroPort Orthopedics Inc.

      10. 6.1.10 Medtronic PLC

      11. 6.1.11 SurgTech Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape Covers - Business Overview, Financials, Products, Strategies, and Recent Developments
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Total Knee Arthroplast Industry Segmentation

As per the scope of the report, knee replacement or knee arthroplasty is a surgical procedure that is performed to replace the damaged knee with artificial knee implants. It is the most common joint replacement surgery that is undertaken by patients suffering from knee-related diseases, like osteoarthritis, post-traumatic arthritis, or rheumatoid arthritis. It is therefore one of the effective and widely used methods to get relief from the pain associated with arthritis. The Knee Replacement Market is Segmented by Product (Total Knee Replacement, Partial Knee Replacement, Kneecap Replacement, Complex (or revision) Knee Replacement), by End User (Hospitals, Orthopedic Centers, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

By Product
Total Knee Replacement
Partial Knee Replacement
Kneecap Replacement
Complex (or revision) Knee Replacement
By End User
Hospitals
Orthopedic Centers
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America
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Total Knee Arthroplast Market Research FAQs

The Global Knee Replacement Market size is expected to reach USD 11.74 billion in 2024 and grow at a CAGR of 4.73% to reach USD 14.80 billion by 2029.

In 2024, the Global Knee Replacement Market size is expected to reach USD 11.74 billion.

SurgTech Inc., Corin Group, Smith & Nephew, Zimmer Biomet and Stryker are the major companies operating in the Global Knee Replacement Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Global Knee Replacement Market.

In 2023, the Global Knee Replacement Market size was estimated at USD 11.21 billion. The report covers the Global Knee Replacement Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Knee Replacement Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Knee Replacement Industry Report

Statistics for the 2024 Knee Replacement market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Knee Replacement analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Knee Replacement Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)