Total Knee Replacement Market Analysis

Total Knee Replacement Market Analysis

Based on the product, the total knee replacement market is segmented into primary knee replacement systems, revision knee replacement systems and partial knee replacement systems. The partial knee replacement systems segment is estimated to exhibit over 5% CAGR through 2032, owing to its growing preference among the geriatric population for partial knee surgeries. The growth is likely to be influenced by associated product benefits including minimal pain, less swelling, and low postoperative complications.

Total knee replacement market is segregated depending on components into femoral, tibial, and patellar segments. The tibial segment generated over USD 3 billion in 2022. The growing number of patients undergoing joint preservation surgery to treat articular cartilage damage caused by osteoarthritis and malalignment is driving demand for tibial component knee replacement systems. Potential advantages of these components including lower cost, avoidance of locking-mechanism difficulties and backside wear, and higher polyethylene thickness following similar bone resections are likely to contribute to the industry development.
 

In terms of surgery type, the market is categorized into traditional surgery type and technology-assisted surgery type. The traditional surgery type segment is expected to surpass USD 11.5 billion by 2032. Traditional surgeries are cost-effective procedures that utilize x-rays, depend on the surgeon's visual judgement, and employs direct manual surgery. The growing adoption of traditional surgeries by patients and healthcare professionals for its dependability and accessibility in several healthcare facilities is estimated to positively influence the segment trends.
 

Total knee replacement market is segmented into ceramic-on-plastic, metal-on-plastic, and metal-on-metal segments based on material. The metal-on-plastic segment accounted for a considerable market share in 2022 and is expected to grow at more than 4.5% CAGR through 2032 due to the benefits offered by the material. The low cost of metal-on-plastic implants, coupled with a long track record of safety and implant durability, is expected to spur market statistics.
 

As per end users, the hospital segment across the total knee replacement market is estimated to reach over USD 11 billion by 2032. This is attributed to the rising hospital admissions given the growing prevalence of infectious diseases, along with an expanding ageing population. Moreover, factors such as developing healthcare infrastructure and the availability of highly qualified experts to help a diverse population base are likely to boost market size.
 

Asia Pacific total knee replacement market is projected to expand over 8% CAGR through the analysis timeframe. The regional industry revenue is anticipated to be impacted by several factors such as increasing privatization, expanding health insurance penetration, growing focus on attracting skilled health care providers, and an ageing population vulnerable to various chronic ailments. Furthermore, increasing awareness of various advancements in materials, components, and methods in knee replacement is also contributing to the regional industry value.