Total Knee Replacement Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028
Global total knee replacement market is expected to witness significant growth during the forecast period, 2024-2028. The rising prevalence of osteoarthritis coupled with rise in the geriatric population, which is anticipated to bolster the growth of the market in the upcoming years. The rising awareness among population about the new innovations and designs of knee implants and advanced technologies such as robot-assisted knee surgeries are surging the demand for the knee replacement medical procedures across the world. This contributes to the growth of this market. For instance, in 2021, Zimmer Biomet Holdings, Inc. and Canary Medical declared that U.S. Food and Drug Administration (FDA) has granted De Novo classification 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.
Knee Replacement also known as knee arthroplasty is a joint surgery to replace the affected parts of the knee to assuage torment and handicap. A knee replacement medical procedure is performed on patients that are diagnosed with osteoarthritis.
However, the high cost of the knee replacement procedures makes it impossible for the common people to opt for them, which, in turn, is restraining the growth of the market. Besides, limited availability of skilled surgeons in developing regions are expected to slow down the growth of the market.
The global total knee replacement market is segmented into cause, material, implant fixation, end-user, company, and region. The cause segment is further divided into osteoarthritis, rheumatoid arthritis, and post-traumatic arthritis. The osteoarthritis segment is expected to hold the largest share during the forecast period. This is attributed to rapid increase in the geriatric population, increasing number of people suffering with osteoarthritis, and the rising cases of injuries.
On the basis of region, North America has accounted as the largest market share in the year 2022. This is due to presence of various total knee replacement-based companies and hospitals along with growing adoption of advanced surgical procedures. Moreover, Asia Pacific is forecasted to be the fastest-growing market, in the coming years. This is attributed to the large population, improving healthcare infrastructure, and heavy investments in healthcare sector.
Major players in the global total knee replacement market include SurgTech Inc., Zimmer Biomet Holdings, Inc., Think Surgical Inc., Corin Group, Smith & Nephew plc, Stryker Corporation, Aesculap, Inc., Medacta International SA, Johnson & Johnson Services, Inc., and Exactech, Inc. Mergers and acquisitions are some common practices, which the leading players adopt to maintain their position in the market.
Objective of the Study:
- To analyze and forecast the market size of global total knee replacement market.
- To classify and forecast global total knee replacement market based on cause, material, implant fixation, end-user, company, and region.
- To identify drivers and challenges for global total knee replacement market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global total knee replacement market.
- To conduct pricing analysis for global total knee replacement market.
- To identify and analyze the profile of leading players operating in global total knee replacement market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of hospitals across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the hospitals which could not be identified due to the limitations of secondary research. TechSci Research analyzed the hospitals and presence of all major players across the globe.
TechSci Research calculated the market size of global total knee replacement market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Hospitals, orthopedic centers and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to total knee replacement
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as hospitals, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global total knee replacement market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Total Knee Replacement Market, By Cause:
- Osteoarthritis
- Rheumatoid arthritis
- Post-traumatic arthritis
- Total Knee Replacement Market, By Material:
- Metal-plastic
- Ceramic-ceramic
- Ceramic-plastic
- Metal-metal
- Total Knee Replacement Market, By Implant Fixation:
- Cemented
- Cement less
- Hybrid
- Total Knee Replacement Market, By End-User:
- Hospitals
- Orthopedic Centers
- Others
- Total Knee Replacement Market, By Region:
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- North America
- United States
- Mexico
- Canada
- South America
- Brazil
- Argentina
- Colombia
- Middle east & Africa
- South Africa
- Saudi Arabia
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global total knee replacement market.
Company Information
- Detailed analysis and profiling of additional market players (up to five).
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