Knee Implants Market Size, Share & Trends Analysis Report By Procedure Type (Total Knee Replacement, Revision Knee Replacement), By Component Type (Fixed-Bearing, Mobile-Bearing Implants), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global knee implants market size was valued at USD 11.1 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2023 to 2030. This growth can be attributed to the increasing adoption of minimally invasive surgeries and the rising prevalence of arthritis. These factors are anticipated to increase the adoption of replacement devices, which is expected to propel market growth during the forecast period. According to the Lancet Publications, approximately 654⋅1 million people worldwide suffered from knee Osteoarthritis (OA) in 2020. As the geriatric population grows, so will the need for knee surgeries and, as a result, the demand for these implants, as older people are more prone to knee-related issues.

Moreover, an increase in the number of bone-related disorders, accidents, obesity, and the convenience of advanced designs are also expected to boost the growth of the market. Obesity is also the main cause of arthritis. According to studies published in the BMJ Journal in 2020, being overweight or obese increased the risk of knee OA by 2.5 to 4.6 times compared to being of normal weight.

The COVID-19 pandemic has significantly impeded industry growth, with demand for knee implant devices projected to be subdued in the initial phase of the pandemic, which began in March 2020. In addition, the government-imposed restrictions & bans on medical procedures and elective surgeries also posed a significant challenge in reinstating elective knee arthroplasty services. Furthermore, in December 2020, post-pandemic, various hospitals and ambulatory service centers managed to resume elective arthroplasty services for patients with all the precautions.

The increasing adoption of pain treatments in case of age-related joint disorders and other complications caused by co-occurring diseases, such as obesity and diabetes, is estimated to boost the growth. However, stringent government rules and regulations for approvals of medical devices and rising cases of product defects are expected to hinder the growth. The presence of untapped growth opportunities in the swiftly growing Asian and Latin American economies and growing awareness about knee implants are expected to bode well for the market. Therefore, manufacturers are focusing on harnessing opportunities in developing economies to capture maximum share.

Procedure Type Insights

The Total Knee Replacement (TKR) segment held the largest revenue share of over 75% in 2022, due to the growing need for implants and personalized replacement systems offered by companies. The large share of the segment can also be attributed to the factors such as the presence of a significant patient base suffering from arthritis and a surge in the number of patients undergoing the procedure.

Partial knee replacement is projected to grow at fastest rate over the forecast period. The companies are in the process of continuously providing innovative and personalized TKR systems that focus on individual patient needs. For instance, Zimmer Biomet and Stryker offer a broad range of advanced technologies and products for TKR. Furthermore, minimally invasive total knee implant surgeries are gaining popularity owing to the small incision required during the procedure and fast recovery of patients. All these factors are expected to drive the growth of the segment in the near future.

Component Insights

Fixed-Bearing Implants segment held the largest revenue share in 2022. The mobile bearing implants segment is expected to grow at the fastest CAGR during the forecast period, owing to the features of this component, such as advanced wear characteristics and stability. For example, Zimmer Biomet offers LPS-Mobile Bearing Knees and NexGen LPS-Flex Mobile, allowing 25 degrees of unhindered internal or external rotation post-replacement procedures. The mobile-bearing design allows a slightly greater range of rotation in the knee than the fixed-bearing design.

Growing demand among the young and active population is the main factor driving the growth of this segment. As per the U.S. Department of Health & Human Services, it is estimated that around 294,000 children below the age of 18 suffer from arthritis or rheumatic condition in the country. The rising penetration of bone-muscle distortion therapies in case of accidents, hereditary diseases, and obesity among the youth is estimated to drive the growth of mobile-bearing implants in the near future.

Regional Insights

North America held the largest revenue share of around 45% in 2022. The region is estimated to be the predominant regional market. The U.S. represented the largest market in North America in 2021. The growing geriatric population and rising prevalence of arthritis and other joint deformities are expected to propel the growth in the U.S. market. In addition, the presence of well-established healthcare infrastructure and access to technologically advanced implant surgeries are anticipated to boost the market growth.

The Asia Pacific region is one of the fastest growing region over the forecast period, owing to the untapped growth opportunities, rising incorporation of implants in orthopedic procedures coupled with rising prevalence of arthritis and rapidly improving healthcare infrastructure. In addition, increasing healthcare awareness among individuals and technological advancements in emerging economies are anticipated to contribute to market growth.

Key Companies & Market Share Insights

The presence of various small and large manufacturers offering products for implants has resulted in intense competition. The companies have begun to focus on growth initiatives, such as mergers & acquisitions and strategic collaborations, which help them in strengthening their product portfolio and expanding their global presence for long-term growth in this industry. For instance, on August 20, 2021, Zimmer Biomet and Canary Medical received FDA De Novo designation and authorization for Persona IQ, which is a smart implant that captures kinematic key data metrics. Some prominent players in the global knee implants market include:

• DePuy Synthes

• Zimmer Biomet

• Stryker

• Smith+Nephew

• Aesculap Implants Systems, LLC

• Exactech, Inc.

• Medacta

• MicroPort Scientific

• CONMED

• Kinamed, Inc.

• ConforMIS

• OMNIlife science, Inc.

Knee Implants Market Report Scope

Global Knee Implants Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global knee implants market report based on procedure type, component, and region:

• Procedure Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Total Knee Replacement

  • Partial Knee Replacement

  • Revision Knee Replacement

• Component Outlook (Revenue, USD Million, 2017 - 2030)

  • Fixed-bearing Implants

  • Mobile-bearing Implants

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia