Global Knee Replacement Market by Procedure (Total Knee Replacement, Partial Knee Replacement, Revision Knee Replacement), by Bearing (Fixed-bearing Implants, Mobile-bearing Implants), by End-user (Hospitals, Orthopaedic Clinics, Ambulatory Surgical Centres) and Geography

 

Global Knee Replacement Market was valued at USD $6.6 billion in 2020 and is anticipated to grow at $8.1 billion till 2027 recording a CAGR of 4.2% during the forecast period 2021-2027. Knee Replacement is one of the most common replacement surgery of joints which are undertaken by the patients with knee damaging diseases like post-traumatic, arthritis osteoarthritis/rheumatoid arthritis. Growing elderly patients and increase in number of surgeries undertaken is anticipated to grow the global knee replacement market. Various steps are included in implanting artificial device and replacing damaged knee. There are various type of implants made up of ceramic material, strong plastic parts or metal alloys, Several factors like rise in the prevalence of diseases like diabetes, osteoporosis, arthritis, obesity, growing ageing population increasing sports-related injuries, improving advanced technologies like minimally invasive surgeries and superior materials of implants are the factors driving the global knee replacement market. High cost of the surgery, rise in number of OEM’s and increase in awareness about non-surgical treatments like weight losing, exercises, walking aids, shoe inserts and painkiller medicines are the factors restraining the growth of global knee replacement market. Knee replacement is the most widely used procedure to treat knee arthritis pain. Advancements in the technologies of knee replacement like minimally invasive surgery, improvement in materials of implant and rise in success rates of the procedures are allowing people to undergo the knee replacement surgery. Technologies likev3D printed knee implants manufactured by the company ConforMIS in USA. For example, X3 Advanced Bearing Technology (in 2011) and Mako Robotic-Arm Assisted Technology (in 2017) and Zimmer Biomet has launched Persona Medial Congruent Bearing in March 2016, designed for providing natural motion for the knee by increasing stability of joints are boosting the growth of the market. According to U.S. Department of Health & Human Services about 294,000 children below age of 18 are suffering from various rheumatic conditions in U.S. In June, 2017, Zimmer Biomet Holdings introduced X-ray-based Patient Specific Instrument, X-PSI Knee System world's 1^st CE Marked surgical planning system. In June 2014, DePuy Synthes introduced 2 new technologies for ATTUNE Knee System Medialized Anatomic Patella and ATTUNE Rotating Platform