Total Knee Replacement Market size is set to surpass USD 12.5 billion by 2027, according to a new research report by Global Market Insights Inc.
Growing burden of osteoporosis will influence the total knee replacement market growth. According to the Centers for Disease Control and Prevention (CDC), in the U.S., currently there are more than 2.6 million people that are affected by osteoporosis hence, escalating the demand for knee replacement products. Moreover, development of non-invasive surgical procedures that causes minimum pain will drive the market expansion.
Major players such as Stryker and Zimmer Biomet have undertaken certain initiatives to implement improvisations in the devices that are utilized in the knee replacement procedures, thereby boosting the industry growth. The International Osteoporosis Foundation projected that around 50% of the fractures due to osteoporosis occur in Asian countries. These chronic conditions require replacement procedures that will enhance the total knee replacement market demand. The growing adoption of knee replacement surgeries to treat these disorders will amplify the industry expansion significantly. Furthermore, knee replacement is considered as the most efficient intervention that reduces knee pain and promotes physical function in rheumatoid arthritis patients.
Growing number of knee replacement surgeries will foster the demand for revision knee replacement systems
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Revision knee replacement systems segment is anticipated to witness 7.5% growth rate by 2027 on account of the increasing number of knee replacement surgeries and rising need for revision procedures for failed total knee arthroplasty. Revision knee procedure is required after initial knee arthroplasty owing to several reasons including infection, mechanical loosening and pain. An estimated 5% of patients require revision procedure during the first 10 years.
Rising preference for partial knee replacement procedures will augment the demand for unicompartmental knee implants
Unicompartmental knee implants segment in the total knee replacement market accounted for USD 626 million in 2020. The significant growth of the segment is credited to increasing preference for partial knee replacement surgery and associated benefits. Unicompartmental knee implants are used in majority of the partial knee replacement procedures. These implants makes a smaller incision, thereby facilitating earlier return to daily activities, reduced stay at hospitals and less pain as well as minimal blood loss during surgery. As the healthy cartilage, bone, and ligaments are kept intact, majority of the patient report that unicompartmental knee implant feels more natural and helps to blend better.
Several advantages pertaining to the use of tibial component in total knee replacement procedure will fuel the market revenue
Tibial segment in the total knee replacement market is predicted to expand at more than 6% CAGR through 2027 and will reach USD 4.77 billion by 2027. The fastest segment revenue is attributed to growing usage of tibial implants in knee replacement procedures. Tibial component generally features a design with flat metal platform covered with durable polyethylene. Additional stability is provided by an optional stem insertion in the center of tibial bone. This component offers several advantages including intra-operative flexibility for the replaced component in revision knee replacement procedure. Additionally, polyethylene tibial component offers proven and long-lasting clinical outcomes with minimized probability of osteolysis.
Growing use of mobile-bearing implants will intensify the business growth
Total knee replacement market for mobile-bearing implants segment exceeded USD 1.17 billion in 2020 and is poised to expand at 9.9% CAGR till 2027 led by the better clinical outcomes owing to use of mobile-bearing implants, especially in the younger patients. These implants reduce the wear and subsequent loosening of the implant that is a major reported concern in conventional fixed-bearing implants. Mobile-bearing implants further enable a better congruent articular area increasing the contact surface and minimizing the contact stresses. This implant offers better rotation enabling, a highly natural and wider range of knee movement. The use of mobile-bearing implants reduces the potential risk of patellar clunk syndrome and anterior knee pain.
Retention of posterior cruciate ligament during knee arthroplasty procedures will stimulate the segment growth
Cruciate retaining design segment in the total knee replacement market was valued at USD 3.07 billion in 2020 impelled by numerous advantages such as increased proprioception, bone preservation, better knee kinematics and stabilized prosthesis. The retained posterior cruciate ligament further enhances stability, minimizes shear stresses and offers efficient gait patterns while climbing stairs or level walking. It further reduces the potential for impingement of the femur, minimizing loosening and excessive wear of polyethylene. The rising demand for retaining maximum original anatomy will amplify the industry demand during the forecast period.
Browse key industry insights spread across 966 pages with 2,473 market data tables & 32 figures & charts from the report, “Total Knee Replacement Market Size By Product (Primary Knee Replacement Systems, Revision Knee Replacement Systems, Partial Knee Replacement Systems), By Device Type (Three-compartmental Knee Implants, Bicompartmental Knee Implants, Unicompartmental Knee Implants), By Component (Femoral, Tibial, Patellar), By Implant Type (Fixed-Bearing Implants, Mobile-Bearing Implants, Medial Pivot Implants), By Design (Cruciate Retaining, Posterior Stabilized Design), By Surgery Type (Traditional Surgery Type, Technology Assisted Surgery Type) By Fixation Material (Cemented, Cementless, Hybrid), By Material (Metal-on-plastic, Ceramic-on-plastic, Ceramic-on-ceramic, Metal-on-metal), By Polyethylene Inserts (Conventional Polyethylene Inserts, Highly Cross-Linked Polyethylene Inserts, Antioxidant Polyethylene Inserts), By End-use (Hospitals, Ambulatory Surgical Centers), COVID19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021– 2027” in detail along with the table of contents:
Technological advancements and emergence of robotics in knee arthroplasty procedures will boost the market progression
The total knee replacement market for technology assisted surgery type segment size was USD 900 million in 2020 propelled by the recent technological developments, digitization and use of robotics in the knee arthroplasty procedures. The acceptance of computer-assisted navigation enables high precision along with reproducible restoration of component positioning and mechanical axis. It provides better clinical outcomes in patients with complications including extra-articular deformities. The use of computed tomography (CT) scans to develop virtual models representing patient's knee and further integrating the robotic arm to position new components offer high accuracy along with improvised safety. Better alignment of the components further ensures a better functional result and high chances of survival of the prosthesis. Additionally, the emergence of robotics in knee arthroplasty procedures enables medical professionals to gain access and evaluate patient details.
Rising preference for cementless fixation among the surgeons is fueling the industry revenue
Cementless segment in the total knee replacement market is estimated to attain a CAGR of more than 6.6% CAGR and will reach USD 1.77 billion by 2027. The high segment value is attributable to presence of highly porous and rough surfaces promoting biologic fixation, bone growth and reduction in complications related to cement breakdown. Cementless implants stabilize using patient’s natural bone that endures longer survival of the implant. It offers a broad range of designs, shapes, and enables reduction of modulus of elasticity. Developments and modifications in the implant design and manufacturing processes will spur the adoption of cementless implants.
Numerous advantages offered by ceramic-on-plastic material would propel the total knee replacement market growth
Ceramic-on-plastic segment accounted for USD 1.60 billion in 2020 and will register growth of 6.1% through 2027 driven by better viability and lowered wear of implants. As per the National Joint Registry, ceramic-on-plastic material minimizes long-term wear of implants and facilitates longer survivorship coupled with reduced risk of ceramic fracture relatively. Patients that are sensitive to metal prefer implants composed of ceramic material. It is highly preferred among younger patients due to its durability and high lubrication compared to other materials.
Growing usage of antioxidant polyethylene interests will augment the market revenue
Antioxidant polyethylene inserts segment in the total knee replacement market was valued at more than USD 2.44 billion in 2020 and is projected to progress at 11.9% growth rate by 2027. The high growth is credited to better oxidative stability, higher wear resistance and mechanical integrity. Antioxidant polyethylene inserts highlight better oxidative resistance as it stabilizes free radicals refraining them from oxidizing. It also characterizes substantial material toughness as well as excellent mechanical properties. Antioxidant polyethylene inserts lower bacterial adhesive characteristics, thereby reducing the post-surgical complications and infection rates.
Availability of advanced technologies and skilled professionals in ASCs will amplify the business expansion
Total knee replacement market for ambulatory surgical centers (ASCs) segment is set to progress at 7.5% CAGR and will reach over USD 1.97 billion by 2027. Rising awareness regarding ASCs, access to modern medical devices and equipment, focus on offering same-day surgical procedure and care, including preventive and diagnostic operatives are major driving factors. ASCs have emerged as a convenient option to hospital-based outpatient surgeries and exhibit strong track record coupled with positive clinical outcomes and quality care. According to the Centers for Medicare and Medicaid Services data, orthopedic procedures performed in Medicare-certified surgical centers account for around 36% of overall procedures. Moreover, growing focus on offering value-based care, coupled with increasing managed care organization (MCO) contracting practices might promote the demand for ASCs. In addition to this, hospitals have shown keen interest to acquire or build ASCs in order to expand their footprint.
Increasing demand for advanced products in China is anticipated to fuel the market expansion
China held a significant share in the Asia Pacific total knee replacement market and exceeded USD 391 million in 2020 led by the rise in medical tourism, growing geriatric population and increasing incidence of osteoarthritis. According to a published report, geriatric population is promoting the incidence of knee osteoarthritis on annual basis in China. According to the Beijing Osteoarthritis survey, the prevalence of symptomatic knee osteoarthritis in the population aged 60 years and above is around 5.6% for men and 15% for women. The economic impact of knee osteoarthritis is projected to surge further with aging population, thereby promoting the total knee replacement surgery rate in China. Furthermore, several factors such as changing population demographics, growing healthcare expenditure and demand for improvised medical facilities are promoting medical tourism in China.
Companies are emphasizing on product development and industry expansion strategies to maximum revenue share
Some of the major players operating in the total knee replacement market are Amplitude Ortho (Amplitude Surgical), B Braun Melsungen AG, ConforMIS Inc., Corin Group, Johnson & Johnson (Depuy Synthes), DJO Global, Exactech Inc., Mathys Ltd Bettlach, Medacta International, Medtronic, MicroPort Scientific Corporation, Smith & Nephew PLC, Stryker, Waldemar LINK, and Zimmer Biomet among others. These participants are emphasizing on new product developments and launches in order to expand their product offerings in the market.