USD 11.74 Billion
Knee Implants Market Size, Share, Growth Analysis, By Type(Total knee replacement, Partial knee replacement), By Application(Hospitals, Ambulatory surgical centers) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2521 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
63 |
Figures:
75
Knee Implants Market Insights
Global Knee Implants Market size was valued at USD 11.74 Billion in 2022 and is poised to grow from USD 12.42 Billion in 2023 to USD 19.51 Billion by 2031, at a CAGR of 5.8% during the forecast period (2024-2031).
The medical device sector's global knee implants market is a branch of the industry that deals with knee-related orthopedic problems. This market includes many varieties of knee implants, such as whole, partial, and revision knee operations.
Aging populations, a spike in osteoarthritis prevalence, improvements in implant materials, and improvements in surgical methods all contribute to the market's growth.
Geographically, the developed healthcare systems in North America and Europe make them major marketplaces. Due to rising healthcare costs and a growing patient base, Asia-Pacific is also experiencing rapid expansion.
But there are obstacles, such as complicated regulations, competitive pricing, and possible post-surgery consequences. The market is marked by fierce competition among major players like Zimmer Biomet, DePuy Synthes, and Stryker Corporation, which promotes innovative product development in order to enhance patient outcomes and quality of life.
US Knee Implants Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
5.8% CAGR
Global Knee Implants Market by region
Country Share for North America(%)
Global Knee Implants Market by End-user
Global Knee Implants Market by End-user
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Knee Implants Market Segmental Analysis
Based on type, the market segmentation includes total knee replacement, partial knee replacement, and revision knee replacement. End-user-based market segmentation encompasses hospitals, ambulatory surgical centers, and orthopedic clinics. Regional segmentation of the market includes North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Knee Implants Market Analysis By Type
In the knee implants market, the total knee replacement (TKR) segment is typically regarded as the biggest. This is brought on by the increased incidence of diseases like osteoarthritis and the increased use of total knee replacements for severe joint degeneration.
Depending on variables such as technological developments, patient preferences, and modifications to healthcare procedures, the fastest-growing area may change. In the past, the partial knee replacement (PKR) market had been expanding as a result of the growing use of minimally invasive procedures and a tendency to leave more of the patient's original joint intact.
Knee Implants Market Analysis By End-user
Hospitals are often the largest end-user group for knee implants. Hospitals have always been the first choice for knee replacement treatments due to their established infrastructure, extensive medical services, and resources for sophisticated surgery. As knee replacements are complex surgeries that frequently necessitate inpatient care, this is likely to continue to be the case.
Ambulatory surgical treatment centers can be the industry sector with the quickest growth. Outpatient knee replacement procedures are growing into a feasible choice for many people as medical technology advances and more surgeons use minimally invasive treatments. This trend is being driven by the benefits of a shorter hospital stay, a lower probability of hospital-acquired illnesses, and possibly decreased expenses.
Global Knee Implants Market by End-user, 2023 (%)
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Knee Implants Market Regional Insights
Europe and North America have been significant consumers of calcium aluminate cement due to the extensive use of these specialized cements in refractory applications, construction, and other industries. The well-established construction and industrial sectors in these regions contribute to their large market share in the knee implants market.
Asia-Pacific, which includes Southeast Asian nations like China and India, has demonstrated substantial potential for growth for calcium aluminate cement. These nations' accelerated infrastructure growth, urbanization, and industrialization have raised demand for specialty building supplies like calcium aluminate cement. As a result, the Asia-Pacific area may have one of the calcium aluminate cement markets with the quickest growth rates.
Global Knee Implants Market by geography, 2024-2031
- Largest
- Fastest
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Knee Implants Market Dynamics
Knee Implants Market Drivers
Aging Population
- The knee implants market is significantly influenced by the aging population. Degenerative joint conditions like osteoarthritis become more likely as people age. The demand for knee replacement surgery is fueled by the availability of knee implants, which provide patients with severe knee joint problems with a way to increase mobility and lessen discomfort.
Technological Advancements
- The success rates and results of knee replacement surgeries have been enhanced by ongoing improvements in materials, implant designs, surgical methods, and minimally invasive techniques. These procedures include shorter recovery times, less postoperative pain, and greater implant durability, which encourage patients to have them done.
Knee Implants Market Restraints
High Cost
- Implants used in knee replacement operations can be pricey. The implant itself, a hospital stay, doctor expenses, and rehabilitation are all included in this price. High costs may prevent those without sufficient insurance coverage or financial resources from accessing these procedures.
Regulatory Challenges
- The knee implant industry is subject to strict regulations and approval processes in various regions, which can delay the introduction of new products and technologies. Regulatory hurdles can slow down the innovation and adoption of advanced knee implant solutions.
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Knee Implants Market Competitive Landscape
The competition for market supremacy among major competitors in the global knee implant market is fierce. Leading firms including Zimmer Biomet, Stryker Corporation, DePuy Synthes, Smith & Nephew, and Medtronic are continuously working on R&D projects to improve implant materials, designs, and surgical procedures. In particular, they concentrate on post-operative results, durability, and patient-specific demands. Partnerships, mergers, and acquisitions are also essential for boosting market share and diversifying product lines. The competitive environment is being shaped by technological developments including less invasive treatments, tailored implants, and novel materials like titanium and ceramic. The aging population, growing rate of osteoarthritis, and rising demand for higher quality of life are further factors contributing to the market's expansion. Companies are positioned strategically to seize opportunities created by the increased demand for knee implants around the world as competition heats up.
Knee Implants Market Top Player’s Company Profiles
- Zimmer Biomet Holdings, Inc. (USA)
- Stryker Corporation (USA)
- DePuy Synthes (USA)
- Smith & Nephew plc (UK)
- Medtronic plc (Ireland)
- Aesculap Implant Systems (Germany)
- MicroPort Scientific Corporation (China)
- Exactech, Inc. (USA)
- DJO Global, Inc. (USA)
- Arthrex, Inc. (USA)
- B. Braun Melsungen AG (Germany)
- Waldemar LINK GmbH & Co. KG (Germany)
- Corin Group (UK)
- ConforMIS, Inc. (USA)
- LimaCorporate S.p.A. (Italy)
- Mathys AG Bettlach (Switzerland)
- Implantcast GmbH (Germany)
- Marle Group (France)
- Peter Brehm GmbH (Germany)
- FH Orthopedics (France)
Knee Implants Market Recent Developments
- In February 2023, Zimmer Biomet announced their acquisition plans for a 3D printing company called Envista for USD 1.9 billion.
- In March 2023, Smith & Nephew reported plans to purchase ConforMIS for USD 3.4 billion.
- In April 2023, Stryker announced acquisition plans for MAKO Surgical for USD 1.6 billion. MAKO Surgical is a developer of robotic-assisted surgery systems that are applied for knee and hip replacements.
Knee Implants Key Market Trends
- Technological Advancements and Personalized Solutions: The development of more sophisticated and individualized implant solutions has been a trend in the knee implant market. The construction and production of knee implants have progressively used tools like 3D printing, computer-assisted surgery (CAS), and robotics. These developments make it possible to better tailor implants to patients' anatomical needs, perhaps improving results and hastening recovery times.
- Shift towards Outpatient Procedures: Instead of more conventional inpatient treatments, knee implant surgeries are increasingly being done as outpatient procedures. Some patients can now have knee replacement surgery and come home the same day due to improvements in minimally invasive methods and improved pain management approaches. This change may save healthcare costs, increase patient happiness, and free up resources for hospitals.
- Rise of Ambulatory Surgery Centers (ASCs): As places where different surgical procedures, such as knee implant surgeries, can be carried out outside of conventional hospital settings, ambulatory surgery centers have gained popularity. These facilities frequently concentrate on offering effective and specialized care, allowing for faster recovery times between procedures and possibly lowering overall expenses for patients and healthcare systems. Due to their advantages in terms of cost-effectiveness and expedited care, ASCs have experienced an increase in procedures performed for knee implants.
Knee Implants Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global knee implants market is poised for promising growth due to factors such as an aging population, rising cases of knee-related disorders like osteoarthritis, and advancements in implant materials and surgical techniques. Increasing demand for minimally invasive procedures and the expansion of healthcare infrastructure in developing regions further contribute to its potential. However, market competition and regulatory challenges might impact growth. Overall, the market is expected to witness steady expansion as technological innovations and healthcare needs drive the demand for knee implant solutions in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 11.74 Billion |
| Market size value in 2031 | USD 19.51 Billion |
| Growth Rate | 5.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Knee Implants Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Knee Implants Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Knee Implants Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Knee Implants Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Knee Implants Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Knee Implants Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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