Global Total Knee Replacement Market

Global Total Knee Replacement Market Size, Share, Growth Analysis, By Type(Primary Knee Replacement Systems, Revision Knee Replacement Systems), By Implant Type(Fixed-Bearing Implants, Mobile-Bearing Implants), By Procedure(Total Knee Arthroplasty, Partial Knee Arthroplasty), By Fixation Type(Cemented, Cementless), By End-Use(Hospitals, Orthopedic Clinics) - Industry Forecast 2024-2031

Report ID: SQMIG35D2054 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 143 | Figures: 78

Global Total Knee Replacement Market Competitive Landscape

The total knee replacement market is fragmented, with many large and small players in the industry. To gain market share, key players are implementing business strategies such as diverse product offerings, regional expansion, partnerships, and new product launches. For instance, De Puy Synthes' VELYS Robotic-Assisted Solution for use with the ATTUNE Total Knee System received 510(k) clearance from the US FDA in January 2021. Furthermore, in January 2021, Stryker acquired OrthoSensor, Inc, a pioneer in the digital evolution of total joint replacement. This acquisition has strengthened its market position.

Total Knee Replacement Market Top Player's Company Profiles

  • Zimmer Biomet
  • Stryker Corporation
  • Smith & Nephew plc
  • Johnson & Johnson Services Inc. (DePuy Synthes)
  • MicroPort Scientific Corporation
  • B. Braun Melsungen AG
  • ConforMIS Inc.
  • DJO Global Inc.
  • Exactech Inc.
  • Corin Group PLC
  • Arthrex Inc.
  • Colfax Corporation (DJO Global)
  • Medacta International SA
  • OMNI Life Science Inc.
  • Ortho Development Corporation
  • Smith & Nephew plc
  • Waldemar Link GmbH & Co. KG
  • Beijing Montagne Medical Device Co. Ltd.
  • Limacorporate Spa
  • JRI Orthopaedics Ltd.

Total Knee Replacement Market Recent Development

  • In September 2022, Palm Beach Gardens Medical Center expands its orthopedic program with the acquisition of two Mako SmartRoboticsTM, the only and first in Palm Beach County. Dr. Robert Avino, an orthopedic surgeon, completed the first case at the hospital using Mako SmartRoboticsTM.
  • In August 2022, Moximed, a medical device company on a mission to improve the standard of care for people suffering from knee osteoarthritis (OA), announced a $40 million Series C equity and debt financing round. Advent Life Sciences led the round, which also included returning investors New Enterprise Associates (NEA), Future Fund, Vertex Healthcare, Gilde Healthcare, GBS Venture Partners, and Morgenthaler Ventures, as well as debt financing from Runway Growth Capital.
  • In August 2021, Zimmer Biomet Holdings, Inc. and Canary Medical announced a De Novo classification grant and permission to market the tibial extension for Persona IQ, the world's first and only FDA-cleared smart knee for total knee replacement surgery.
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FAQs

Total Knee Replacement Market size was valued at USD 8.57 billion in 2019 and is poised to grow from USD 9 billion in 2023 to USD 13.96 billion by 2031, growing at a CAGR of 5% in the forecast period (2024-2031).

The total knee replacement market is fragmented, with many large and small players in the industry. To gain market share, key players are implementing business strategies such as diverse product offerings, regional expansion, partnerships, and new product launches. For instance, De Puy Synthes' VELYS Robotic-Assisted Solution for use with the ATTUNE Total Knee System received 510(k) clearance from the US FDA in January 2021. Furthermore, in January 2021, Stryker acquired OrthoSensor, Inc, a pioneer in the digital evolution of total joint replacement. This acquisition has strengthened its market position. 'Zimmer Biomet', 'Stryker Corporation', 'Smith & Nephew plc', 'Johnson & Johnson Services Inc. (DePuy Synthes)', 'MicroPort Scientific Corporation', 'B. Braun Melsungen AG', 'ConforMIS Inc.', 'DJO Global Inc.', 'Exactech Inc.', 'Corin Group PLC', 'Arthrex Inc.', 'Colfax Corporation (DJO Global)', 'Medacta International SA', 'OMNI Life Science Inc.', 'Ortho Development Corporation', 'Smith & Nephew plc', 'Waldemar Link GmbH & Co. KG', 'Beijing Montagne Medical Device Co. Ltd.', 'Limacorporate Spa', 'JRI Orthopaedics Ltd.'

The rising prevalence of knee osteoarthritis will drive the market.

Infusing morphine directly into the shin bone may be a new way to help ease the pain of knee replacement surgery, according to the findings of a recent study of 48 patients undergoing total knee replacement. The researchers discovered that injecting morphine into the shin bone during the operation reduced post-surgery pain better than standard treatment alone.

During the forecast period, North America is expected to have the largest market share. The United States is a significant contributor to the region's Total Knee Replacement market growth. The major factors likely to boost the market growth in North America are a rise in the number of individuals diagnosed with rheumatoid arthritis and an increase in the geriatric population count. Furthermore, the rising penetration of computer-aided implant designs, robot-assisted surgeries in the United States, and favorable reimbursement scenarios are expected to propel the knee implant market in the United States during the forecast period. Because of the rise in chronic diseases such as diabetes and the prevalence of bone disease, Europe is expected to have the second-largest market share after North America. Innovations in implant material and design, the presence of major players with a robust distribution network, and rising demand for knee replacement procedures are expected to fuel the EUs knee replacement market by 2028.

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