Knee Replacement Implants Market: Current Analysis and Forecast (2022-2028)

Knee replacement implants, also known as knee arthroplasty implants, are artificial components that are used to replace damaged or diseased knee joints. The implants are typically made of metal, plastic, or a combination of both and are designed to mimic the shape and function of a natural knee joint. There are several types of knee replacement implants, including total knee replacement, partial knee replacement, and revision knee replacement. The type of implant used depends on the extent of the knee damage and the patient's individual needs and preferences. Knee replacement implants have been used successfully for many years to relieve pain and improve mobility in patients with severe knee joint damage or disease.

The Knee Replacement Implants Market is expected to grow at a strong CAGR of 4.7% during the forecast period owing to the burgeoning old-age population, the rising prevalence of various knee-associated musculoskeletal disorders such as osteoarthritis, rheumatoid arthritis, psoriatic arthritis, and others. Also, the growing demand for minimally invasive surgeries and technological advancement to improve the efficiency of the products are key market drivers. For instance, according to the United Nation's World Population Ageing 2020 Highlights, globally, there were 727 million persons aged 65 years or over in the world in 2020 and the global number was projected to double, reaching over 1.5 billion in 2050. The growing old-age population is more susceptible to suffering from knee-related musculoskeletal disorders such as arthritis. Therefore, the rising prevalence of knee osteoarthritis among the senescent population is projected to propel the global market for knee replacement implants.

Based on product type, the market is segmented into total replacement systems, partial replacement systems, and knee revision systems. Amongst these, the total replacement systems segment dominated the market in 2021. This is because they offer several advantages over partial replacement systems. Total knee replacement involves the replacement of both the femoral and tibial components of the knee joint, as well as the patella, if necessary. Studies have shown that patients who undergo total knee replacement experience greater pain relief, improved function, and better quality of life than those who undergo partial knee replacement.

By implant type, the market is segmented into fixed bearing implants, mobile bearing implants, and medial pivot implants. Among these, mobile bearing implants captured the majority share of the knee replacement implants market in 2021. The major share can be attributed to the superior range of motion provided by mobile tibial implants and their design reducing polyethylene contact stress by decreasing the increased wear improving joint function will surge the growth of the segment.

Based on fixation, the market is bifurcated into cemented and cementless. Amongst these, the cemented segment dominated the market in 2021. Cemented fixation has been the gold standard for knee replacement surgeries for many years, and it provides immediate fixation of the implant to the bone.

On the basis of end-user, the market is segmented into hospitals, orthopaedic clinics, and others. The hospitals held a major share of the knee replacement implants market in 2021. Knee replacement implant surgeries penetration in the hospitals has drastically gathered steam as consumers have significantly adopted and preferred them due to proper care and facilities being provided.

For a better understanding of the market adoption of the knee replacement implants industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Rest of World. North America dominated the knee replacement implants market in 2021 due to the presence of advanced healthcare systems in the region along with an increase in healthcare spending. Moreover, adequate reimbursement policies are the driving factors. In addition, a surge in arthroplasty procedures from the past decade is also projected to increase the market for knee reconstruction and replacement devices in the region. According to the 2020 annual report of the American Joint Replacement Registry, approximately 995,410 total knee arthroplasty procedures were performed whereas 75,489 knee revision arthroplasty was performed between the years 2012-2019.

Some of the major players operating in the market include: Zimmer Biomet, Stryker, Smith & Nephew, Exatech Inc., DePuy Synthes (Johnson & Johnson), Microport Scientific Corporation, B. Braun Melsungen AG, Meril Life Sciences Pvt. Ltd., DJO Global, Medacta International.