Knee Replacement Market: Current Analysis and Forecast (2022-2030)

Report Description

The Knee Replacement market was valued at USD 10,070 million in 2022 & expected to grow at a strong CAGR of around 4.7% during the forecast period (2022-2030) owing to the growing number of elderly people and the rising number of knee-associated musculoskeletal disorders like osteoarthritis, psoriatic arthritis, and others.

A knee replacement is a medical procedure in which an artificial joint is used to replace a damaged or diseased knee joint. Patients who suffer from severe knee pain and limited mobility as a result of injuries, osteoarthritis, or rheumatoid arthritis, are typically candidates for knee replacement surgery. The major procedure known as knee replacement surgery involves removing the diseased or damaged components of the knee joint and replacing them with an artificial joint. The market for knee replacement is always changing because new and cutting-edge technologies are being developed to make knee implants perform better and last longer. As a result, there is now a greater demand for more recent and advanced implants. For instance, DePuy Synthes introduced the robotic-assisted knee surgery solution known as “VELYS” in Australia in July 2022 with the intention of assisting hospitals and surgeons in enhancing patient outcomes and advancing the sustainability of the healthcare system in Australia. For total knee arthroplasty, VELYS is designed to be used in conjunction with the company’s ATTUNE Knee System.

Some of the major players operating in the market include Zimmer Biomet, Stryker, Smith & Nephew, Exatech Inc., DePuy Synthes (Johnson & Johnson), Microport Scientific Corporation, B. Braun Melsungen AG, Meril Life Sciences Pvt. Ltd., DJO Global, Medacta International. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst procedure, the partial replacement systems segment will have a significant CAGR during the forecast period”

Based on the procedure, the market is segmented into total replacement systems, partial replacement systems, and knee revision systems. Amongst these, the partial replacement systems segment will have a significant CAGR during the forecast period. This is because it only replaces the damaged part of the knee joint with an implant, not the entire joint. Patients with osteoarthritis or other degenerative conditions affecting only one part of the knee joint typically require partial replacement systems. Due to the smaller incisions and less bone removal, partial replacement systems are less invasive than total knee replacement. Patients may experience reduced pain, shorter hospital stays, and shorter recovery times as a result.

“Amongst component type, the fixed bearing implants segment will have a significant CAGR during the forecast period (2023-2030)”

By component type, the market is segmented into fixed bearing implants, mobile bearing implants, and medial pivot implants. Among these, the fixed bearing implants segment will have a significant CAGR during the forecast period. The knee joint is given good stability by fixed-bearing implants, which can make it easier for the patient to walk, stand, and do the things they normally do. The fixed joint contributes to the expansion of the Knee Replacement market by preventing the implant from shifting or rotating, which can cause instability or dislocation.

“North America dominated the Knee Replacement market in 2022”

North America dominated the knee replacement implant market in 2022. Additionally, the driving factors are adequate reimbursement policies. The region’s market for knee reconstruction and replacement devices is also expected to grow as a result of an increase in arthroplasty procedures over the past decade. The American Joint Replacement Registry’s 2020 annual report indicates that between 2012 and 2019, 75,489 knee revision arthroplasty procedures and approximately 995,410 total knee arthroplasty procedures were performed.

Knee Replacement Market Report Coverage 

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global knee replacement market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Knee Replacement Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Knee Replacement market were the three major steps undertaken to create and analyze the adoption of Knee Replacement in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Knee Replacement market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Knee Replacement market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Knee Replacement market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as a procedure, component type, material, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of Knee Replacement in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Knee Replacement market. Further, we conducted factor analysis using dependent and independent variables such as procedure, component type, material, and end-user of the Knee Replacement market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Knee Replacement market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Knee Replacement market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Knee Replacement market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Knee Replacement market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Knee Replacement market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the procedure, component type, material, and end-user in the global Knee Replacement market.

The Main Objective of the Global Knee Replacement Market Study

The current & future market trends of the global Knee Replacement market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Knee Replacement market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the procedure, component type, material, and end-user
• Define and analysis of the regulatory framework for the Knee Replacement industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Knee Replacement market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Knee Replacement market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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