The global knee replacement implants market size is expected to reach USD 17.45 Billion in 2030 and register a revenue CAGR of 5.3% during the forecast period. Availability of better implant materials, minimally invasive methods, 3D printing robot-assisted surgeries are factors driving global knee replacement implants market revenue growth.
Knee replacement, also known as knee arthroplasty, is a complex surgical procedure that involves replacing weight-bearing surface of knee to relieve pain and disability in patients with deformities. An implant is a term for artificial material used in knee replacement. It aids in resumption of normal knee functions. For people with severe deformities, surgical procedures are extremely difficult.
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As people age, they begin to experience a variety of pains in various parts of their body. Most people begin to experience joint pain, which makes it difficult for them to engage in various types of physical activities to their full potential. Some people may experience excruciating pain in their knees, necessitating a visit to an orthopedic doctor, who may prescribe medications as well as treatments such as physiotherapy, acupuncture, and use of braces. However, if pain persists despite taking medications, doctor may recommend knee replacement surgery, which can help to relieve pain and improve mobility. During surgery, doctor removes a portion or all of knee joints and replaces the damaged parts with a metal or plastic artificial knee replacement implant. Young and active people begin to suffer joint injuries as a result of sports activities and everyday wear and tear, need for a permanent or semi-permanent solution grows.
Obesity and other deficiencies that weaken the bone and joint strength have emerged as a major reason for knee replacements along with an increase in geriatric population due to improved medical assistance. These health issues, combined with advancement of medical technologies, have increased ability to restore normal knee functions and improve durability of implant materials. A variety of hip kits are also available for patients to use. Although total knee replacement surgery takes a long time to recover from, taking certain precautions can help speed up process. It also depends on one’s stamina and resistance to infection.
Knee replacement implants are typically recommended to patients by doctors who have chronic, unrelenting pain in their knees or who need to correct bone deformities such as varus and valgus deformities. A varus deformity occurs when distal segment of a joint or bone is angled excessively inward or medially, whereas a valgus deformity occurs when distal segment of the joint or bone is angled extremely outward or laterally. Rising rate of varus and valgus deformity is driving market revenue growth.
However, high cost of implants deters people from undergoing surgeries, particularly in countries that have been hit hard by recent economic downturns. It has been discovered that Type III medical devices are subject to stringent regulations. Type III applies to high-risk types of medical devices that are deemed very important to health or for sustaining life. Manufacturer needs to undergo a rigorous Premarket Approval (PMA) process that generally involves clinical trials and data collection which is a high-cost procedure hampering industry’s growth.
Driver: Rising diagnosis rate of Osteoarthritis
Osteoarthritis (OA) is a common disease among aged population and is one of the leading causes of disability. Age, weight, and injuries to joints due to repetitive movements such as squatting and kneeling are common risk factors of knee OA. It is estimated that 203 per 10,000 persons suffer from OA among the population aged 20 and above. In 2020, globally there were 86.7 million individuals above 20 and above, with knee OA.
Replacement joints wear out and require additional surgery
The younger the patients are at the time of knee replacement surgery the more quickly artificial knee joints are expected to wear out. Further, this again leads to additional surgeries. Risks of knee replacement wearing out increase if patients are overweight, do heavy manual labor, run, or play vigorous sports. Revision rates of about 6% after five years and 12% after ten years are to be expected which again cost a huge sum of money. Knee replacement surgery can also result in physical complications ranging from pain and swelling to implant rejection, infection, and bone fractures. Pain may be the most common complication following knee replacement surgery.
Based on procedure, the global knee replacement implants market is segmented into total knee replacement, partial knee replacement, and revision knee replacement.
Total knee replacement segment accounted for largest revenue share in 2021. Rise in geriatric population has fueled market expansion. These people have a weakened immune system, which leads to a variety of health problems. Diabetes, osteoporosis, and arthritis are the most common health problems among elderly. With time their knees also get damaged due to several reasons such as calcium deficiency or other external damage which can cause severe pain. Total knee replacement is best solution to ease unbearable pain. During surgery, joint replacement surgeons remove the damaged knee and replace it with an artificial joint made of metal or plastic, which is then attached to thigh bone, shin, and kneecap. Total knee replacement is effective and safe.
Partial knee replacement segment revenue is expected to register a steady growth rate during the forecast period. Partial knee replacement replaces one part of the knee. It is an alternative to total knee replacement for some patients suffering from osteoarthritis. The surgery can be done when damage is in a specific part of the knee. Athlete and young stars who faces knee injuries mainly need partial knee replacement for their injuries.
Based on end-use, the global knee replacement implants market is segmented into hospitals, clinics, and ambulatory service centers.
Hospital segment accounted for largest revenue share in 2021, owing to presence of advanced facilities and improvement in healthcare infrastructure in developing countries. Emergence of specialized orthopedic hospitals is also contributing to growth of segment. An increase in number of orthopedic surgeries performed in hospitals, as well as an increase in number of patients visiting hospital with orthopedic injuries is boosting growth of segment.
Ambulatory service centers segment revenue is expected to register a moderate growth rate during the forecast period, owing to safety, comfort, and convenience. Ambulatory service centers are an ideal option for older adults as it provides personalized care and prevents frequent visits to hospitals. Outpatient surgery centers can be 45-60% less expensive than hospitals, which benefits patients, insurers, and taxpayers equally and outpatient surgery centers have better control over scheduling of surgeries. As a result, practically very few procedures may be delayed or rescheduled compared to hospital’s unanticipated circumstances such as emergency room difficulties. It also limits patients from contracting hospital-acquired infections.
Based on component insights, global knee replacement implants market is segmented into fixed-bearing implants and mobile-bearing procedures.
Fixed bearing (FB) implants accounted for largest revenue share in 2021. FB implant’s standard operative procedure is to relieve pain and restore function in patients with osteoarthritis or rheumatoid arthritis. FB knee design has round femoral components that articulate with a relatively flat tibial articular surface. Most of FB implant patients have improved knee condition for long term which is driving revenue growth of segment.
Mobile bearing procedure segment revenue is expected to register a steady growth rate during the forecast period. Mobile Bearing (MB) concept in Total Knee Arthroplasty (TKA) was developed as an alternative to Fixed Bearing (FB) implants in order to reduce wear and improve Range of Motion (ROM), especially focused on younger patients as it allows more mobility. In theory, mobile-bearing designs help to minimize wear by reducing delamination and fatigue fractures which is expected to drive revenue growth of segment.
Material Type Insights:
Based on material insights, global knee replacement implants market is segmented into stainless steel, cobalt-chromium alloys, titanium alloys, polyethylene, and others.
Cobalt chromium alloys accounted for largest revenue share in 2021. Knee replacement materials such as stem, cup, ball, and liner are made from cobalt-chromium as this material is scratch-resistant and safe for use in total knee replacements. Most total knee femoral components are made out of cobalt-chromium with excellent long-term success rates boosting segment growth.
Titanium alloys segment revenue is expected to register a steady growth rate during the forecast period. Titanium alloys are biocompatible, which means they won’t corrode or change inside wearer’s body. Titanium cobalt is a more elastic metal that is better for natural bone that surrounds the implant. As this metal is softer, it is typically used for tibial portion of replacement.
Based on regional analysis, knee replacement implants market in North America accounted for largest revenue share in 2021, owing to development of innovative knee replacement implants products for treatment of knee problems. Highly sophisticated healthcare system and increasing expenditure on healthcare by population are factors boosting growth of market. Moreover, use of advanced technology such as 3D printing and presence of key market players are some of factors driving growth of knee replacement implants market in this region. Furthermore, implementation of supportive government policies in Canada and the U.S is supporting market growth in the region.
Market in Asia Pacific is expected to register a steady revenue growth rate during the forecast period due to increase in population coupled with an increase in number of trauma cases, a rapidly aging population, and an increase in prevalence of obesity. High incidence of knee problems is driving growth of knee replacement implants market in this region.
Europe is expected to register a moderate revenue growth rate during the forecast period, owing to presence of several key market players and increasing sports activities in this region. In addition, presence of highly developed healthcare infrastructure and skilled professionals is expected to boost market growth over the forecast period.
Competitive landscape of global knee replacement implants market is consolidated with few key players operating on global and regional levels. Key players are engaged in product development and strategic alliances to expand their respective product portfolio and gain a robust footing in the global market. Major companies in the market report include Zimmer Biomet, Stryker, Smith+Nephew, Depuy Synthes (a Johnson & Johnson Company), Medacta International, Conformis, B. Braun Melsungen AG, MicroPort Scientific Corporation, NuVasive Inc., and Corin Group.
Initiatives taken by market players are driving growth of market, for instance:
On July 20, 2021, DePuy Synthes launched its VELYS Robotic-Assisted Solution for knee replacement surgery in Australia. VELYS is intended to be used with the company’s ATTUNE Knee System for total knee arthroplasty.
In July 2020, Corin Group received the U.S. Food and Drug Administration (FDA) approval for OMNIBotics software update, enabling the option to incorporate Unity Knee, total knee implants with robotic-assisted surgery in the U.S. This approval helped the company to strengthen its product portfolio in the U.S.
Segments Covered in the Report
This report offers historical data and forecasts revenue growth at a global, regional, and country-level, and provides analysis of market trends in each of the sub-segments from 2022 to 2030. For this study, Reports and Data has segmented the knee replacement implants market based on procedure, end-use, component, material type, and region.
Knee Replacement Implants Market Report Scope
Segments covered By Procedure Type Outlook, End-Use Outlook, Component Outlook, Material Type Outlook,Regional Outlook
By Procedure Type Outlook
Total Knee Replacement
Partial Knee Replacement
Revision Knee Replacement
By End-Use Outlook
Ambulatory Service Center
By Component Outlook
Fixed Bearing Implants
Mobile Bearing Procedure
By Material Type Outlook
Cobalt Chromium Alloys
Middle East & Africa
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