Knee Replacement Market: Global analysis and forecast for the period 2024-2030

Knee Replacement Market Overview:

A Knee Replacement is a surgery to replace all or some of your knee joints. It’s a type of procedure called an arthroplasty (joint replacement). A surgeon will remove damaged parts of your natural knee joint and replace them with an artificial joint (a prosthesis) made of metal and plastic.

 

Advances in 3D printing technology are transforming the knee replacement market by enabling the creation of custom implants tailored to individual anatomies. This personalization enhances surgical outcomes and accelerates recovery. Companies like Medacta and Smith & Nephew are leading this innovation, with Europe experiencing a significant impact. In 2023, the European knee replacement market was valued at approximately €4.1 billion, with custom implants driving a 7.2% annual growth rate. Germany and the UK are notable for their adoption of 3D-printed implants, reducing postoperative complications and boosting patient satisfaction. The knee replacement market is also influenced by innovations such as robotic-assisted surgery.

 

THINK Surgical's TMINI™ Miniature Robotic System exemplifies this trend by improving surgical precision and implant alignment. In North America and Europe, robotic-assisted surgeries are increasingly popular, with over 200,000 procedures annually in North America. The aging global population further drives demand for knee replacements, with a notable rise in cases over the past decade in Europe and North America. However, companies face challenges with complex regulatory requirements and high costs, impacting market entry and innovation. In terms of segments, the knee replacement market is divided into component type, product type, and end user. North America held the largest revenue share of approximately 51% in the knee replacement market, with the U.S. being the largest market within the region.

 

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Knee Replacement Market Trend:

3D printing advances custom knee implants

Advances in 3D printing technology enable the creation of custom implants tailored to a patient's unique anatomy, enhancing fit and functionality. This personalization can lead to better surgical outcomes and quicker recovery. Companies such as Medacta and Smith & Nephew incorporate 3D printing into their knee replacement solutions, catering to the growing demand for personalized medical devices.

 

In Europe, this trend is significantly impacted. For instance, in 2023, the European knee replacement market was valued at approximately €4.1 billion, with custom implants contributing to a growth rate of 7.2% annually. In Germany and the UK, hospitals increasingly using 3D-printed implants to reduce postoperative complications and improve patient satisfaction. This innovation is driving growth in the European knee replacement market by improving patient outcomes and expanding the scope of treatment options. Consequently, it enhances market competitiveness and accelerates the adoption of advanced surgical technologies across the region.

Knee Replacement Market Driver:

Innovations in Knee Implants and Surgical Approaches

Advancements in medical device development are driving significant changes in the knee replacement market, with a focus on enhancing implant longevity and performance to meet the demands of younger, more active patients. Innovations such as 3D printing technology and minimally invasive surgical techniques are revolutionizing patient care by offering implants that better mimic natural joint movements and reduce recovery times. 

 

• THINK Surgical is at the forefront with its TMINI™ Miniature Robotic System, which enhances surgical precision and patient outcomes. This system utilizes advanced robotics to assist in the precise planning and execution of knee replacements, improving implant alignment and placement. Unlike traditional systems, the TMINI™ is compact and integrates easily into operating rooms, and its open platform is compatible with various implant brands, offering surgeons greater flexibility.

 

These advancements, including robotic-assisted surgery, are increasingly prevalent in North America and Europe in North America, robotic-assisted knee replacement surgeries are increasingly popular, with over 200,000 procedures performed annually. This method is gaining traction due to its ability to provide greater precision and control, contributing to faster recovery and improved patient outcomes across the region.

Knee Replacement Market Opportunity:

The aging population drives knee replacement demand

The global aging population significantly drives demand for the knee replacement market. As life expectancy increases, the prevalence of osteoarthritis and other knee-related conditions rises, leading to more knee replacement surgeries. In Europe, knee replacement cases have surged by approximately 30% over the past decade, reflecting the growing need among the elderly. Similarly, North America has seen a 25% increase in knee replacement procedures in the same period, driven by an aging demographic and advanced healthcare infrastructure. For instance, the UK's National Health Service has reported a notable rise in knee replacements, catering to the increasing elderly population. In the US, the Cleveland Clinic has expanded its orthopedic services to address the growing demand, emphasizing the significant impact of the aging population on knee replacement trends.

 

Knee Replacement Market Challenge:

Regulatory Hurdles: Complex regulations, high costs, and delays

Navigating regulatory hurdles is a significant challenge for companies developing new technologies and custom implants, impacting both market entry and operational costs. The approval process for medical technologies is often lengthy and complex, involving rigorous evaluations to ensure safety and efficacy. In the US, the FDA requires comprehensive clinical trials and extensive documentation before approval, a process that can take several years and cost millions of dollars. Similarly, the European Medicines Agency (EMA) has stringent requirements, including extensive reviews and compliance with diverse national regulations within the EU.

 

These regulatory demands can delay market entry and increase costs for manufacturers, impacting their competitiveness and innovation speed. The introduction of custom 3D-printed implants requires navigating both FDA and EMA standards, leading to increased development time and financial strain.

 

Knee Replacement Market Segment Analysis:

By Component Type: In 2023, the Fixed-Bearing Implants sector dominated the knee replacement market in terms of revenue. The mobile bearing implants category is projected to have the highest CAGR in the forecast period due to its advanced wear properties and stability. For instance, Zimmer Biomet provides options like LPS-Mobile Bearing Knees and NexGen LPS-Flex Mobile, which enable 25 degrees of free internal or external rotation after surgery. The mobile-bearing design permits a slightly wider range of knee rotation compared to the fixed-bearing design.

 

The primary driver for the growth of this segment is the increasing interest from the youthful and energetic demographic. According to the U.S. Department of Health & Human Services, approximately 299,000 children under 18 are affected by arthritis or rheumatic conditions in the United States. It is expected that the increasing use of bone-muscle correction treatments for accidents, genetic conditions, and obesity in young people will boost the demand for mobile-bearing implants soon.

 

Knee Replacement Market Regional Insights:

In 2023, North America held the largest revenue share of approximately 51% in the knee replacement market, with the U.S. being the largest market within the region. The growth in the U.S. is driven by the increasing geriatric population and the rising prevalence of arthritis and other joint deformities. The region's well-established healthcare infrastructure and access to advanced implant technologies further support market expansion. Canada is also contributing significantly to the growth of the knee replacement market in North America.

 

The country's aging population and rising healthcare investments are enhancing its market potential. With an emphasis on improving patient outcomes and integrating advanced technologies, Canada's market for knee replacements is expected to grow steadily. The strong healthcare system and increasing demand for advanced surgical solutions align with the broader regional trends driving the North American market.

 

The Asia Pacific region is experiencing rapid growth in the knee replacement market due to untapped opportunities, increased use of implants in orthopedic procedures, rising arthritis rates, and improved healthcare infrastructure. Moreover, the expected knee replacement market growth is due to the rise in healthcare awareness and technological advancements in developing countries.

Knee Replacement Market Competitive Landscape:

Aesculap Inc., a part of B. Braun Melsungen AG, specializes in orthopedic implants and has a strong focus on innovation in knee replacement technologies. Its recent advancements include the integration of custom implants and minimally invasive techniques. Financially, Aesculap contributed approximately $2.3 billion to B. Braun's annual revenue in 2023, reflecting its significant role in the orthopedic sector.

 

Zimmer Biomet, a global leader in musculoskeletal healthcare, reported revenues of $8.2 billion in 2023, with knee replacement being a major segment. The company's business portfolio includes a range of knee implants, robotics, and digital solutions aimed at enhancing surgical outcomes. Recent developments include the launch of the ROSA™ robotic system and digital planning tools, aiming to improve precision and patient outcomes in knee surgery.

 

Recent Development:

• In 2023, Exactech launched new knee replacement products and updated its surgical technologies to improve precision and patient outcomes. The company also expanded its market presence through strategic collaborations and regional expansions.
• In 2023, Medtronic introduced new knee implant systems and advanced surgical tools, focusing on improving surgical efficiency and patient recovery. The company also expanded its digital health offerings and integrated advanced technologies into its product portfolio.
• In 2023, SurgTech made advancements in knee replacement technologies with new implant designs and surgical instruments. The company also focused on increasing its market presence through new product launches and strategic partnerships.

 

Knee Replacement Market Scope Table

Knee Replacement Market
Market Size in 2023	USD 10.46 billion.
Market Size in 2030	USD 15.79 billion.
CAGR (2024-2030)	6.05%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segments	By Component Type Mobile Bearing Implants Fixed Bearing Implants
	By Procedure Type Primary Knee Replacement Revision Knee Replacement Cemented Knee Replacement Partial Knee Replacement
	By End User Hospitals Ambulatory Surgical Centers
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Knee Replacement Market Key Players:

• Aesculap Inc.
• Zimmer Biomet
• MicroPort Scientific Corporation
• DePuy Synthes Companies (J&J)
• Medacta International
• Stryker Corporation
• Smith and Nephew PLC
• CONMED
• Exactech, Inc.
• Medtronic PLC
• SurgTech Inc.
• ConforMis