Knee Replacement Market Size Worth USD 10 Billion | 3.7% CAGR By 2025

Knee Replacement Market Size, Trends and Growth Analysis by Product Type (Total Knee Reconstructive Implants, Partial Knee Reconstructive Implants, Revision Knee Reconstructive Implants), Material (Metal Alloy, Ceramic Material, Strong Plastic Parts and Others), End User (Hospitals and Clinics, Specialty Centers, and Rehabilitation Centers), and Region (Americas, Europe, Asia-Pacific, and the Middle East & Africa), Forecast till 2025

Knee Replacement Market Overview

The global knee replacement market is projected to reach USD 10 billion by 2025, set to mature at a 3.7% CAGR during the forecast period. The growing geriatric population, giving rise to old-age ailments such as arthritis, osteoporosis and diabetes, is mainly driving the global knee replacement market. Moreover, the growth of the knee replacement industry is expected to be driven by growing technical developments such as minimally invasive surgery and improved implant materials.

Current material advances in knee replacement surgery-related instruments have opened up a tremendous opportunity for business development in the coming years. The increasing introduction of robotic-assisted knee surgery would lead to a worldwide growth in introduction. Therefore, more patients are embracing knee replacement as a treatment with the growing prevalence of OA, which serves as a significant catalyst for the growth of the knee replacement market.

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The high implant costs and increasing awareness of non-surgical care options such as workouts and shoe supports, however, are likely to impede the development of the industry.

Knee Replacement Market Segmental Analysis

The global knee replacement market has been segmented into partial knee reconstructive implants, total knee reconstructive implants, and revision knee reconstructive implants based on the product type.

On the basis of material, the knee replacement market is segmented into ceramic material, metal alloy, strong plastic parts, and others.

Based on the end-users, the knee replacement market is segmented into hospitals & clinics, specialty centers, and rehabilitation centers.

Knee Replacement Market Regional Insights

The knee replacement industry has been segmented globally into the Americas, Europe , Asia-Pacific, and the Middle East & Africa.

North America and South America have been segmented into the Americas. The US and Canada have been more segmented into North America. The growing ageing population afflicted by knee joint disorders and the increased degree of understanding of joint-related therapies are expected to accelerate the growth of the knee replacement market in the North American region. Owing to the increasing acceptance of innovative knee replacements, the high incidence of knee disorders and strengthened healthcare facilities, the region is projected to contribute the largest market share for knee replacement.

In addition, the growth of the knee replacement market is driven by research and development in the knee implant industry and increasing government initiative. In addition, the emergence of supportive regulatory policies and growing public and private spending on healthcare enable patients to undergo knee replacement surgery. Both these variables will lead over the forecast timeframe to the region's supremacy.

Europe is the second largest knee replacement market and, due to the availability of innovative and specialized care services, growing cases of knee replacements and a growing number of qualified medical practitioners, high demand is projected to rise over the forecast period. In addition, the increasing ageing demographic that gives rise to the patient population is expected to increase the market 's performance.

Because of the rising prevalence of joint diseases such as rheumatoid arthritis, osteoarthritis, and hip fractures, Asia Pacific is projected to be the fastest growing region. Due to its strong elderly population and increasing patient population, China is the fastest growing country. Increased geriatric population and health consciousness are factors that fuel business development. In addition, the availability of new therapeutic approaches is moving the Asia-Pacific market forward.

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Due to major factors such as lack of knowledge, restricted access, and affordability of treatment facilities, the Middle East & Africa are projected to see the least growth in the sector.

Knee Replacement Market Competitive Outlook

Zimmer Inc. (US), DePuy Synthes (US), Stryker (US), Smith and Nephew (UK), Exactech, Inc. (US), Corin Group (UK), Aesculap Implants Systems LLC (US), Medacta International. (Switzerland), Allegra Orthopaedics Limited (Australia), and Kinamed, Inc. (US), are some of the key players operating in the global knee replacement market.

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