Knee Replacement Devices Market Set to Surge to $12.3 Billion by 2031 at a 3.4% CAGR

The knee replacement devices market is projected to reach $12.3 billion by 2031, growing at a CAGR of 3.4% from 2022 to 2031.

WILMINGTON, DE, UNITED STATES, March 13, 2025 /EINPresswire.com/ -- The global knee replacement devices market has experienced significant growth over the past decade, driven by an aging population, increased prevalence of joint diseases, and advancements in medical technology. Valued at $8.8 billion in 2021, the knee replacement devices market is projected to reach $12.3 billion by 2031, growing at a CAGR of 3.4% from 2022 to 2031.

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Knee Replacement Devices Market Statistics and Growth Factors
Several factors contribute to the growth of the knee replacement devices market:
1. Prevalence of Osteoarthritis and Other Joint Diseases: Osteoarthritis is a leading cause of disability worldwide. In 2020, approximately 14 million people in the U.S. were reported to have symptomatic knee osteoarthritis. Additionally, osteoporosis affects around 200 million people globally, with 30% being women in the U.S. and Europe. The increasing number of patients with these conditions has led to a higher demand for knee replacement surgeries.

2. Technological Advancements: Innovations in knee replacement devices have improved surgical outcomes. For instance, in May 2021, Conformis Inc. received FDA approval for its Identity Imprint knee replacement system, designed to fit the unique anatomy of each patient. Similarly, in August 2021, Zimmer Biomet and Canary Medical introduced Persona IQ, the world's first smart knee replacement device, enhancing postoperative monitoring and patient outcomes.

3. Rise in Surgical Procedures: The demand for knee replacement surgeries has surged. According to the Agency for Healthcare Research and Quality, over 600,000 knee replacement surgeries are performed annually in the U.S. This trend is expected to continue as the global population ages and the prevalence of joint diseases increases.

4. Minimally Invasive Procedures: There is a growing preference for minimally invasive surgical procedures, which offer benefits such as reduced recovery times and less postoperative pain. This shift has propelled the demand for advanced knee replacement devices that support such techniques.

Knee Replacement Devices Market Segmentation
The knee replacement devices market is segmented based on procedure type, implant type, and end user.
1. Procedure Type
• Total Knee Replacement: This segment dominated the market in 2021, attributed to the rise in the geriatric population and the high success rate of total knee replacement procedures.
• Partial Knee Replacement: This procedure is gaining traction due to technological advancements that allow for more precise and minimally invasive treatments, increasing patient eligibility.
• Revision Knee Replacement: Expected to witness considerable growth, driven by the rise in demand for revision surgeries and advancements in knee implants.

2. Implant Type
• Fixed Bearing Implants: These implants dominated the market in 2021 due to their distinct clinical properties and comparatively lower cost.
• Mobile Bearing Implants: Expected to register a higher CAGR during the forecast period, owing to the superior range of motion provided by this type of implant, making it suitable for younger patients.
• Others: This category includes specialized implants catering to specific patient needs.

3. End User
• Hospitals: This segment dominated the market in 2021, owing to the presence of well-trained professionals and an increase in the number of hospital admissions.
• Orthopedic Clinics: These clinics are expected to register significant growth due to the increase in the number of specialty clinics and the growing demand for personalized care.
• Ambulatory Surgical Centers: Expected to project a higher CAGR during the forecast period, driven by the increase in the number of joint replacement surgeries performed in such facilities.

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Regional Insights
Regionally, North America accounted for the major share of the knee replacement devices market in 2021 and is expected to continue its dominance during the forecast period. This is attributed to the increase in the number of product approvals by the U.S. FDA and the presence of key players in the region. However, the Asia-Pacific region is expected to register the highest CAGR, owing to the rise in the number of patients suffering from severe arthritis and growing awareness regarding minimally invasive surgical procedures.

Key Players in the Knee Replacement Devices Market
The knee replacement devices market is highly competitive, with several key players contributing to its growth:
• Aesculap Inc. (B. Braun Company)
• Zimmer Biomet
• MicroPort Scientific
• DePuy Synthes
• Medacta
• Stryker
• Smith & Nephew
• CONMED
• Exactech
• ConforMis

These companies focus on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position.

The knee replacement devices market is poised for steady growth, driven by factors such as the increasing prevalence of joint diseases, technological advancements, and a growing preference for minimally invasive procedures. With continuous innovation and strategic initiatives by key players, the market is expected to offer improved solutions for patients requiring knee replacement surgeries.

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