Knee Replacement Market Size, Share, Growth Analysis, By Procedure type(Total Knee Replacement, Partial Knee Replacement, and Revision Knee Replacement), By Component(Fixed-bearing Implants and Mobile-bearing ImplantsSegmentEnd UserSub-SegmentsHospitals, Orthopedic Clinics, Ambulatory Surgical Centers, and Others.), By Region - Industry Forecast 2024-2031

Global Knee Replacement Market size was valued at USD 10.34 billion in 2022 and is poised to grow from USD 10.93 billion in 2023 to USD 16.99 billion by 2031, at a CAGR of 5.67% during the forecast period (2024-2031).

Stryker, Zimmer Biomet, DePuy Synthes Companies (Johnson & Johnson Services, Inc.), and Smith & Nephew are the market leaders, with significant brand presence and a diverse product portfolio. These manufacturers are expected to maintain their dominance in the knee arthroplasty market and create considerable revenue in the future due to ongoing expenditures in research and development for the release of cost-effective and creative knee implants. Furthermore, a significant emphasis on strategic alliances with other competitors in the knee implant market is anticipated to help the growth of their global footprints. 'Stryker Corporation', 'Zimmer Biomet Holdings, Inc.', 'Smith & Nephew plc', 'Johnson & Johnson (DePuy Synthes)', 'Medacta International SA', 'MicroPort Scientific Corporation', 'DJO Global Inc.', 'Exactech Inc.', 'ConforMIS, Inc.', 'Arthrex, Inc.', 'Corin Group PLC', 'Waldemar Link GmbH & Co. KG', 'B. Braun Melsungen AG', 'LimaCorporate S.p.A.', 'JRI Orthopaedics Ltd.', 'Zimmerer GmbH', 'Mathys AG Bettlach', 'Japan MDM, Inc.', 'United Orthopedic Corporation', 'Ortosintese', ' When KEM Hospital in Mumbai integrated a robotic arm for knee replacement treatments in February 2024, they made a significant technological advancement in medicine. By doing this, the hospital was among the first in India's public hospitals to carry out the surgery. Corporate sponsorship made this advancement possible. Furthermore, the hospital demonstrated its dedication to providing affordable healthcare by performing the first 300 procedures at no cost. ', ' One of the top manufacturers of medical technology, Stryker, said in December 2023 that it had made Menix a legally binding bid to purchase SERF SAS, a joint replacement company with headquarters in France. ', ' DePuy Synthes (US) introduced the VELYS Robotic-Assisted Solution in October 2023. With the goal of maximizing patient outcomes and delivering efficiency, the VELYS Robotic-Assisted Solution delivers perceptive analysis, flexible deployment, and validated performance. '

Rising knowledge of material developments and designs of knee implants and robot-assisted knee operations are currently the primary factors influencing sales of these items utilised in replacement procedures. Robot-assisted technology increases procedure accuracy and reduces reliance on surgeons for operative results. In addition, with the inclusion of robotic surgery in their portfolio, some significant manufacturers in the industry are delivering more complete knee implants.

Various studies have found that the employment of modern technology such as artificial intelligence (AI) and robots increases the efficiency of surgical operations. Globally, there is a rising need for these technologically-based medical products. AI assists surgeons in developing a highly tailored surgical strategy that evaluates each patient's dynamic knee motion. Increased research & development investment, as well as increased new product launches in robotics, are expected to drive market growth in the near future.

Global Knee Replacement Market is divided into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA).