Global Knee Implants Market - 2023-2030

Market Overview

The global knee implants market size was valued at US$ 12.44 billion in 2022 and is estimated to reach US$ XX million by 2030, growing at a CAGR of 4.56% during the forecast period (2023-2030).

The weight-bearing surfaces of the knee joint are replaced surgically to relieve pain and disability; this procedure is most frequently recommended when other conservative measures are ineffective at reducing joint pain, as well as for other knee diseases like rheumatoid arthritis and psoriatic arthritis. Surgery may be more difficult and risky in patients with significant deformities brought on by advanced rheumatoid arthritis, trauma, or chronic osteoarthritis. Hence it is not a justification for knee replacement surgery.

Market Dynamics

The major factors driving the global knee implants market are the incidence of bone-related diseases and accidents is rising, which is driving the market to flourish, bicruciate-retaining total knee arthroplasty is becoming more popular, improvements in technology for knee replacement surgery and the market for knee implants are anticipated to expand as the number of obese people increases in emerging economies.

The incidence of bone-related diseases and accidents is rising, driving the market to flourish.

According to the National Library of Medicine, U.S., fractures, which could be the first outward sign of bone disease in patients, are the major issue brought on by bone disease, particularly osteoporosis. An estimated 1.5 million people experience a fracture due to a bone condition every year. The most common reason for fractures is osteoporosis. In the U.S., there are about 10 million people over 50 who have hip osteoporosis. An additional 33.6 million people over 50 have low hip bone mass, often known as "osteopenia," putting them at risk for osteoporosis and any potential complications in the future.

And the year 2021 reveals that knee replacement surgery is such a common procedure that it is anticipated to be carried out around 800,000 times annually in the United States alone. That number rises yearly, according to Personalized Orthopedics of the Palm Beaches. Most knee replacements are outpatient procedures due to surgeries and bone conditions boosting the market for knee implants.

The WHO estimates that 1.3 million people die in traffic accidents each year around the world, and another 20 to 50 million people get non-fatal injuries. More over half of all fatalities and injuries caused by traffic accidents involve pedestrians, cyclists, motorcyclists, and the people they are carrying. The previously mentioned variables have led to a rise in the demand for knee implants.

Lack of skilled surgeons and high cost are expected to hamper the market's growth.

The market needs to be improved by the high cost of orthopedic surgeries and the scarcity of experienced doctors.

COVID-19 Impact Analysis

The COVID-19 epidemic resulted in significant revenue losses for the orthopaedic and medical device industries due to widespread surgical restrictions and implant procedure cancellations. The hospital industry chose elective operations by limiting the number of procedures performed, which will prove to be a potential risk for the medical staff, to reduce the likelihood of cross-infection. The potential of cross-infection forced several surgeries to be postponed during the pandemic. The market for knee replacement surgery was severely impacted by the pandemic's quick fall in employment, which impacted people's disposable income.

A major obstacle to restoring elective knee arthroplasty services was the government's limitations and bans on medical procedures and elective surgeries. Additionally, after the pandemic, several hospitals and ambulatory service centers resumed providing elective arthroplasty services to patients in December 2020 while taking all necessary safeguards.

Segment Analysis

The total knee replacement segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The total knee replacement segment is the highest market holder in the global knee implants market Due to the increasing demand for implants and the customized replacement systems provided by businesses, Total Knee Replacement (TKR) is dominating. The considerable patient base of people living with arthritis and the rise in the number of patients receiving the operation are further reasons that contribute to the segment's high proportion of the market. Severe osteoarthritis can be effectively treated with total knee arthroplasty (TKA). TKA results in a good recovery from surgery, good survival rates, and general functional improvement. The main surgical objective continues to be to meet the functional expectations of patients having TKA. Consider total knee replacement surgery if nonsurgical options like medication and using walking aids are no longer effective.

The companies are working consistently to deliver cutting-edge, individualized TKR systems centered on certain patients' requirements. For instance, in December 2021, the first surgery in the U.S. to successfully use Pixee Medical, an FDA-cleared augmented reality surgical application for help in total knee arthroplasty, was completed by MicroPort Orthopedics, a world leader in orthopedic equipment and technologies. Through smart glasses and a unique platform called Knee+ from Pixee Medical, orthopedic surgeons may execute operations more effectively and quickly thanks to real-time instrument positioning. Since 90% of surgeons who use a conventional approach and have never used navigation or robotics find Knee+ intuitive, little training is necessary for them to use it.

In November 2022, the reverse hybrid construct for complete knee arthroplasty, the JOURNEY II ROX Total Knee Solution, was unveiled by Smith+Nephew, a leading medical technology provider worldwide. A new procedural product solution has been developed to give surgeons the therapeutic benefit of cutting-edge bearing material and anatomic design along with the effectiveness and potential long-term tibia fixation of a cementless knee.

Geographical Analysis

North America holds the largest market share in the global knee implants market.

North America dominates the global knee implants market primarily due to its large population, excellent medical infrastructure, and high-income levels. Due to the aging population who need knee replacement surgery, North America has grown to be the largest market. This region's rise has largely been attributed to the top market players' presence there. The people's access to high disposable income has made it possible for them to choose cutting-edge medical techniques that incorporate robot assistance and artificial intelligence.

For instance, in September 2021, Zimmer Biomet acquired FDA 510(k) clearance for the ROSA Hip System for robotically-assisted anterior complete hip replacement in order to broaden its ROSA Robotics portfolio, which already includes the ROSA Knee System for total and partial knee replacement. Additionally, the Persona I.Q., supposedly the first and only smart knee approved by the FDA for total knee replacement, was given a De Novo designation by the FDA so that Zimmer Biomet and Canary Medical may market it.

The increase is the result of several reasons, including an increase in accidents and people with degenerative conditions. For instance, according to a report released in June 2021 by the Canadian Institute for Health Information, approximately 75,073 knee replacements were carried out in Canada year 2020. Additionally, it stated that more than 1.4 billion U.S. dollars are spent annually on knee replacement surgeries in Canada.

Competitive Landscape

The Knee Implants market is moderately competitive with local and global companies' presence. Zimmer Biomet, Corin Group, Stryker Corp, DePuy Synthes, Smith and Nephew, Aesculap Implants Systems, LLC, Exactech, Inc., MicroPort Scientific, CONMED, Kinamed, Inc. ConforMIS .and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market's growth. For instance, inmARCH 2019, the US-based OMNI Orthopedics, a pioneer in robotic-assisted complete knee replacement, has been acquired by UK international orthopedic corporation Corin Group ("Corin"), funded by the Permira funds..

Smith and Nephew.

Overview: The development, production, and marketing of medical devices for use in orthopaedic reconstruction and trauma, sports medicine, ENT, and advanced wound treatment are the main business activities of Smith & Nephew Plc (Smith & Nephew). The business provides robotics-assisted enabling technologies, trauma products to fix fractures, and knee and hip implants to repair diseased, old, or injured joints.

Product Portfolio:

Genesis II: The GENESIS II Total Knee System has developed into one of the industry's most dependable total knee systems. GENESIS II was built with the most advanced equipment, including the user-friendly MIS system and the ream-through femoral trials, to produce the most complete system..

The global knee implants market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.