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Total Knee Replacement Market Size

  • Report ID: GMI2804
  • Published Date: Dec 2022
  • Report Format: PDF
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Total Knee Replacement Market Size

Total Knee Replacement Market size generated over USD 9 billion in 2022 and is anticipated to grow at a robust pace of 5% CAGR from 2023 to 2032 driven by the rising prevalence of arthritis and osteoporosis worldwide.

 

According to CDC data, more than 2.6 million people in the United States are suffering from osteoporosis, driving up demand for knee replacement products. The development of minimally invasive surgical methods for replacement procedures that are necessitated in the case of arthritis and osteoporosis is expected to boost product demand. Furthermore, leading industry participants are undertaking specific initiatives to implement improvements in the equipment used in knee replacement surgeries, thereby supporting the industry's expansion.

 

Total Knee Replacement Market

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In addition, technical advancements have raised the success rates of knee replacement treatments, significantly influencing the total knee replacement market outlook. Development of novel surgical procedures that use diverse approaches to support reduction in traumatic situations is expected to benefit the industry growth. Over 900,000 people in the United States have knee replacement surgical operations each year due to the availability of high-quality surgical devices and painless surgeries given the availability of high-precision tools.
 

Total Knee Replacement Market Report Attributes
Report Attribute Details
Base Year:2022
Total Knee Replacement Market Size in 2022:USD 9 Billion
Forecast Period:2023 to 2032
Forecast Period 2023 to 2032 CAGR:5%
2032 Value Projection:USD 14.5 Billion
Historical Data for:2018 to 2022
No. of Pages:600
Tables, Charts & Figures:1,665
Segments covered:Product, Device type, Component, Implant type, Design, Surgery type, Fixation Material, Material, Polyethylene inserts, and End-use
Growth Drivers:
  • Rising geriatric population
  • Increasing prevalence of arthritis and osteoporosis
  • Technological advancements
  • Need for personalized and patient specific implants
  • Growing infection rates contributing to rise in knee revisions
  • Growing preference for bicruciate-retaining total knee arthroplasty
  • Increasing usage of unicondylar knee procedures
Pitfalls & Challenges:
  • Rising financial burden
  • Increased number of knee implant recalls
  • Innovation in subdermal implant
  • High cost associated with the surgery
  • Stringent regulations
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Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for total knee replacement was worth more than USD 9 billion in 2022 and is projected to record 5% CAGR during 2023 to 2032 owing to the rising prevalence of arthritis and osteoporosis worldwide.

Metal-on-plastic segment is expected to grow at over 4.5% CAGR through 2032 due to the safety and implant durability benefits offered by the material at low costs, thereby surging product demand.

APAC total knee replacement market is expected to expand at more than 8% growth rate during the forecast period, due to growing privatization, increased health insurance coverage, and an aging population that is prone to numerous chronic conditions.

The leading companies engaged in the market are Zimmer Biomet, Corin Group, Smith & Nephew PLC, DJO Global, Exactech Inc, ODEV, Depuy Synthes (Johnson & Johnson), Medacta International, Allegra Orthopaedics Limited, ConforMIS, Inc and others.

Total Knee Replacement Market Scope

  • Total Knee Replacement Market Size
  • Total Knee Replacement Market Analysis
  • Total Knee Replacement Market Share

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    Premium Report Details

    • Base Year: 2022
    • Companies covered: 15
    • Tables & Figures: 1665
    • Countries covered: 52
    • Pages: 600
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