Knee Implant Market

The knee implant market size is expected to increase from US$ 14.24 billion in 2024 to US$ 19.80 billion by 2031, with a projected CAGR of 4.82% from 2025 to 2031.

Market Insights and Analyst View:The forecast for the knee implant market provides valuable insights for stakeholders to strategize their growth. A knee implant, or prosthesis, is a medical device designed to replace a damaged or diseased knee joint. It plays a vital role in knee replacement surgery, aimed at relieving pain, restoring function, and enhancing mobility for individuals suffering from advanced arthritis, severe knee injuries, or other degenerative knee conditions. Typically, knee implants are made from metal alloys, high-quality polymers, and sometimes ceramic materials, designed to mimic the natural function of the knee joint.

Growth Drivers and Challenges:Current trends in the knee implant market show an increase in the prevalence of osteoarthritis and a rise in knee injuries. Osteoarthritis, the most common form of arthritis, has seen a significant rise, especially among older adults and those with obesity. This trend highlights the increasing demand for knee implant surgeries to relieve pain, restore mobility, and enhance the quality of life for those affected. According to the Institute for Health Metrics and Evaluation, by 2050, approximately 1 billion people globally will have osteoarthritis, with 15% of individuals aged 30 and older currently affected.

The hands and knees are the most common areas for osteoarthritis, with projections indicating a 50% increase in hand cases and a 75% increase in knee cases by 2050. Additionally, the growing number of knee injuries, particularly among athletes and active individuals, has further driven the demand for knee implants to address trauma-related joint damage.

However, the high costs associated with orthopedic procedures and limited availability pose challenges to the growth of the knee implant market. The significant expenses related to orthopedic surgeries, including knee implant procedures, can limit access for patients with financial constraints or those in underserved regions. Moreover, the extensive training, expertise, and infrastructure required for orthopedic surgeries, along with the complexity of knee implant procedures, have resulted in a shortage of skilled orthopedic surgeons in certain areas. This scarcity can lead to long waiting times for orthopedic procedures, affecting patient access and healthcare delivery.

Strategic Insights

Report Segmentation and Scope:The "knee implant market analysis" has been conducted considering various segments: by type of procedures, implant type, material, and end user. The market is categorized by procedure type into total knee replacement, partial knee replacement, and revision knee replacement. By implant type, it is divided into fixed-bearing prostheses and mobile-bearing prostheses. In terms of material, the market is segmented into total cemented and non-cemented. By end user, the market includes hospitals, ambulatory surgical centers, and others. Geographically, the report segments the knee implant market into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Segmental Analysis:The knee implants market report categorizes the market based on procedure type into total knee replacement, partial knee replacement, and revision knee replacement. The Total Knee Replacement (TKR) segment captured the largest revenue share in 2022, driven by the increasing demand for implants and customized replacement systems offered by manufacturers. This significant market share can also be attributed to a large patient population suffering from arthritis and a growing number of individuals undergoing the procedure. During the forecast period, partial knee replacement is expected to grow at the fastest rate.

By implant type, the market is divided into fixed-bearing prostheses and mobile-bearing prostheses. In 2022, the fixed-bearing prosthesis segment held a larger revenue share. However, the mobile-bearing prosthesis segment is anticipated to grow at a faster CAGR during the forecast period due to its improved wear properties and stability. For example, Zimmer Biomet offers NexGen LPS-Flex Mobile and LPS-Mobile Bearing Knees, which allow for unrestricted internal or external rotation of 25° post-surgery.

In terms of end user, the knee implant market is segmented into hospitals, ambulatory surgical centers, and others. Hospitals perform the majority of knee replacement surgeries due to their access to advanced technologies and highly skilled healthcare professionals, making this segment the largest in the knee implant market. Additionally, the growing preference of patients for hospitals that provide significant post-surgical care is expected to support market growth during the forecast period.

Regional Analysis:Geographically, the knee implant market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

North America leads the knee implant market in terms of revenue, primarily due to a higher incidence of knee replacements in the US. Contributing factors include an increase in accident cases and a rise in the number of individuals with degenerative diseases. A report from the Canadian Institute for Health Information indicated that approximately 75,073 knee replacements were performed in Canada in 2020, with Canada spending over US$ 1.4 billion annually on knee replacement surgery. However, the disabled population in the region faced significant challenges during the COVID-19 pandemic lockdown.

The US knee replacement market is expanding due to several factors, including new product launches, a high concentration of manufacturers, and partnerships and acquisitions among leading competitors. The strategic presence of key players positions the US as a crucial market for knee implant growth. For instance, in November 2021, OrthAlign, a US-based private company, launched the Lantern, a handheld smart instrument for knee replacement surgery that provides precise, customized alignment for each patient with a single use. Such ongoing product innovations are expected to drive market growth in the country.

Knee Implant Market Report Scope

Industry Developments and Future Opportunities:Key initiatives by major players in the global knee implant market include:

In October 2023, Medacta Group S.A. launched the first KA-optimized femoral component for total knee replacement, GMK SpheriKA. This Swiss company provides innovative, customized, and sustainable solutions for sports medicine, spine surgery, and joint replacement.

In November 2021, Zimmer Biomet Holdings, Inc. received FDA 510(k) clearance for the Persona OsseoTi Keel Tibia for cementless knee replacement in the US.

Competitive Landscape and Key Companies:Key companies in the knee implant market include Zimmer Biomet, CONMED, Stryker, Smith and Nephew, DePuy Synthes, Aesculap Implants Systems, LLC, Medacta, Exactech, Inc., MicroPort Scientific, Kinamed, Inc., ConforMIS, and OMNIlife science, Inc. These companies are focused on expanding their product offerings to meet the increasing global consumer demand, leveraging their international presence to serve a wide customer base and enhance their market reach.