Total knee replacement market size worth $14.9 billion, globally, by 2030 at a CAGR of 6.2%: Verified Market Research®
Rising geriatric population, rising ubiquity of knee osteoarthritis, and increasing body mass levels of younger population are some of the factors that have driven the growth of the total knee replacement market .
LONDON, June 16, 2022 /PRNewswire/ — Verified Market Research recently published a report, “Total knee replacement market“By Product Type (Primary Knee Replacement Systems, Revision Knee Replacement Systems), By Implant Type (Fixed-bearing Implants, Moving-bearing Implants), By Procedure (Total Knee Replacement, Partial knee), by end-use (hospitals, orthopedic clinics) and by geography. According to Verified Market Research, the total knee replacement market size was valued at USD 8.33 billion in 2021 and is expected to reach USD 14.9 billion. by 2030, growing at a CAGR of 6.2% from 2022 to 2030.
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126 – Tables
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Global Total Knee Replacement Market Overview
The global knee replacement market is significantly driven by the expanding geriatric population leading to mature diseases like joint inflammation, osteoporosis, and diabetes. As the medical industry advances, disease diagnosis rates have increased. Due to this increase in rates, the adult population that suffers from these diseases are aware of their problems and hence have started opting for these replacement surgeries. This contributes to the growth of this market. The increase in the number of knee replacement medical procedures worldwide is likely to positively affect the market. As more and more people become aware of the technological trends such as robot-assisted knee surgeries, they start to opt for these procedures and thus increase the growth of this industry.
It also inspires other market players to conduct research and development and come up with painless ways to perform surgeries. Surgeries such as robot-assisted surgeries promote high efficiency and precision and therefore reduce surgical failure rates. Additionally, increase in innovative advancements as innovative intrusive medical procedures along with the presence of better integrative materials is going to boost the development of knee replacement surgery market. Nevertheless, the high cost of inserts and the development of mindfulness for non-conservative treatment techniques are likely to restrain the development of the market.
- In July 2020, Corin, a leading provider of a unique combination of clinically proven hip, knee, ankle and shoulder solutions and cutting-edge technologies, received 510(k) clearance from the United States Food & Drug Administration (FDA) for the latest OMNIBotics 2.6 Software Update. This will help them to use Unity Knee Total Knee Implant System with Robot Assisted Procedure in USA region.
- In September 2019, Johnson & Johnson Medical Devices Companies, a global leader in medical devices used to treat orthopedic trauma, announced that DePuy Synthes was launching the ATTUNE Cementless Knee in a rotating platform option in select markets around the world. This will help the business meet the demands of their active lifestyles today and tomorrow.
Major market players include Zimmer Inc., DePuy Synthes, Stryker, Smith and Nephew, Exactech Inc., Corin Group, Aesculap Implants Systems LLC, Medacta International, Allegra Orthopedics Limited, and Kinamed, Inc.
Verified Market Research has segmented the global total knee replacement market on the basis of product type, implant type, procedure, end-use, and geography.
- Total Knee Replacement Market, By Product Type
- Primary Knee Replacement Systems
- Revision Knee Replacement Systems
- Partial knee replacement systems
- Total Knee Replacement Market, By Implant Type
- Fixed bearing implants
- Moving bearing implants
- Mid-Pivot Implants
- Total Knee Replacement Market, By Procedure
- Total knee arthroplasty
- Partial knee arthroplasty
- Revision knee replacement
- Total Knee Replacement Market, By End Use
- Orthopedic clinics
- Ambulatory surgery centers
- Total Knee Replacement Market, By Geography
- North America
- The rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
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