Knee Replacement Implants Market by Procedure Type (Total Knee Replacement, Partial Knee Replacement, Revision Knee Replacement), by Implant Type (Fixed Bearing, Mobile Bearing, Others), by End User (Hospitals, Orthopedic Clinics, Ambulatory Surgery Centers) and Geographic Regions (North America, Europe, Asia Pacific, Latin America, Middle East and Africa): Industry Trends and Global Forecasts, 2023-2032
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Get FREE Report SampleMarket Size and Overview: The market, for knee replacement implants is expected to reach a value of USD 15.4 billion by the end of 2032 with a growth rate of 5.3%, between 2023 and 2032. In 2022 the knee replacement implant industry was valued at USD 9.2 billion. The growth can be attributed to factors, including the rising incidence of knee related conditions advancements, in materials and design the expansion of healthcare infrastructure in developing regions and an increasing focus, on patient centric care and personalized treatment. The market offers a variety of products, including implants. Market is highly competitive as key players striving to meet evolving customer needs.
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Knee replacement implants Market: Report Scope |
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Base Year Market Size |
2022 |
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Forecast Year Market Size |
2023-2032 |
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CAGR Value |
5.3% |
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Segmentation |
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Challenges |
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Growth Drivers |
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Market Segmentation:
Procedure Type
- Total Knee Replacement
- Partial Knee Replacement
- Revision Knee Replacement
Implant Type
- Fixed Bearing
- Mobile Bearing
- Others
End User
- Hospitals
- Orthopedic Clinics
- Ambulatory Surgery Centers
Geographic Regions:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
On the basis of procedure type in the knee replacement implants market the total knee replacement segment accounted the highest market share in 2022. The knee replacement implants market is dominated by the segment, total knee replacements. This is primarily due to the rising occurrence of knee related disorders like osteoarthritis and rheumatoid arthritis among individuals. Moreover, the progress in materials and design along, with the increasing use of invasive surgical techniques are also contributing to the expansion of this segment’s growth prospects.
Regional Analysis:
North America is considered a major market, for knee replacement implants mainly due to the rising incidence of knee related disorders and the increasing popularity of invasive surgical techniques. The United States in particular plays a role, in this market. The European market showcases interest, in materials and design is growing in the market driven by the aim to enhance patient outcomes. The knee replacement implants market in the Asia Pacific region is expected to experience growth due to factors such as urbanization increasing disposable incomes and a growing aging population. Countries like China and India are likely to witness an increase in demand for knee replacement implants thanks to improvements in healthcare infrastructure and a rise in knee related disorders. Meanwhile Latin America and the Middle East as Africa are also seeing steady growth in the knee replacement implants market due to increased demand, for knee replacement surgeries and efforts made to improve healthcare accessibility. Key countries contributing to this growth include Brazil, Mexico, United Arab Emirates and South Africa.
Growth Drivers:
The increasing occurrence of knee related conditions, such, as osteoarthritis and rheumatoid arthritis among the aging population is driving the need for knee replacement surgeries and implants. Moreover, advancements in materials and design including the use of printing and biocompatible materials are attracting both patients and surgeons. The rising popularity of surgical techniques, which offer shorter recovery times and better patient outcomes is also contributing to market growth. The Centers for Disease Control and Prevention (CDC) offers records on the superiority, incidence, and effect of arthritis inside the United States. According to the CDC, 24% of all adults within the United States, or 58.5 million individuals, have arthritis. The expansion of healthcare infrastructure in developing regions is fueling demand for knee replacement implants. Healthcare systems are investing in equipment and expertise to meet the growing demand for knee replacement surgeries. Increased healthcare spending and insurance coverage for these procedures are further boosting the markets potential, for growth. With a population that is aging and an increasing number of individuals there is a higher likelihood of developing osteoarthritis among this demographic group while also undergoing knee replacement surgery. The growing consciousness on patient-centric care and personalized remedy is driving the demand for customized knee alternative implants. Manufacturers are growing affected person-unique implants that provide advanced healthy and feature, enhancing patient results and pleasure.
Challenges:
High cost of surgery and risk of complications are hindering the growth of market. In developing regions, this factor has resulted in limited demand for product. Moreover, the long recovery time is also restricting the growth of market.
Key Companies: The knee replacement implants market is poised by several main corporations, each making big contributions to the industry through their sturdy market presence and progressive product offerings. Among these principal players are Exactech, Medacta International, Aesculap Inc (B Braun Company), CONMED, MicroPort Scientific, DePuy Synthes (J&J), Stryker, Smith and Nephew, Zimmer Biomet, ConforMis And other players. These essential players constantly try and revamp their marketplace percentage and meet the desires of a diverse investor base. Their competitive techniques encompass product innovation, forging strategic partnerships, undertaking mergers and acquisitions, and increasing their distribution networks.
In June 2023, Zimmer Biomet announced the launch of its new Persona3 knee replacement implant.
In April 2023, Smith and Nephew announced the launch of its new Navio robotic-assisted knee replacement system.
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- Publication date: Aug 2023
- Base year: 2022
- Forecast year: 2023-2033
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