Global Knee Replacement Market to Surpass US$ 12.9 Billion by 2027, Says Coherent Market Insights (CMI)

SEATTLE–(BUSINESS WIRE)–#FixedbearingImplants–According to Coherent Market Insights, the global knee replacement market is estimated to be valued at US$ 9.4 billion in 2020 and is expected to exhibit a CAGR of 4.1% during the forecast period (2020-2027).

Key Trends and Analysis:

The increasing number of product launches is expected to drive growth of the knee replacement market during the forecast period. For instance, in September 2019, Zimmer Biomet Holdings, Inc., a global company in musculoskeletal healthcare, announced that it received the U.S. FDA 510(k) clearance for the Persona Revision Knee System for revision knee replacement procedures in the U.S. This revision system offers anatomic components designed to match a patient’s anatomy for a personalized fit. Available with a modern, intuitive instrumentation platform, the Persona Revision Knee System enables surgeons to take a personalized approach to addressing simple to complex revision procedures by offering the flexibility to utilize their preferred surgical approach.

Manufacturers are focused on developing new products, owing to increasing adoption and accessibility of these new knee replacement devices for better outcomes in surgeries. For instance, in March 2019, Medacta International, the international orthopedics company specializing in the design and production of innovative orthopedic products, and Geisinger, one of the most innovative health systems, announced a first-of-its-kind pilot program for a knee replacement lifetime guarantee, in which the cost of product will cover the full cost of care associated with knee replacement surgeries over a patient’s lifetime.

Various companies are entering the market through strategic agreements to distribute, market or to sell the products in different regions. In July 2020, IMPLANET, a medical technology company specializing in vertebral and knee-surgery implants, announced that the marketing agreement of its MADISON total knee replacement implants in the U.S. has begun.

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Key Market Takeaways:

The global knee replacement market is expected to exhibit a CAGR of 4.1% during the forecast period (2020-2027), owing to the rising prevalence of different type of arthritis is expected to accelerate the knee replacement market. For instance, according to the report ‘Arthritis by the Numbers’ 2019 by the Arthritis Foundation, it is estimated that around 30.8 million adults suffered from osteoarthritis in the U.S. in 2015.

Furthermore, key players in the North America knee replacement market are focused on adopting collaboration and partnership strategies to enhance their market share in North America, which is expected to drive growth of the market during the forecast period. For instance, in March 2019, Exactech, a developer and producer of bone and joint restoration products and biologic solutions for extremities, knee, and hip, announced that it acquired XpandOrtho, a designer of soft tissue balancing instruments for knee replacement surgery. Exactech plans to incorporate XpandOrtho’s technology to enhance its ExactechGPS computer-assisted surgery system, the only navigation system that supports both shoulder and knee replacement.

Competitive Landscape:

Key players operating in the global knee replacement market include Zimmer Biomet, Stryker Corporation, Smith & Nephew Plc, Johnson & Johnson Services Inc., B. Braun Melsungen AG, Medacta International, MicroPort Scientific Corporation, ConforMIS, Inc., Corin Group, Exactech, Inc., DJO Global, Inc., Baumer Holding AG, SurgTech Inc. Wright Medical Group N.V., and X.NOV

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Market Segmentation:

• Global Knee Replacement Market, By Procedure:
  • Total Knee Replacement
  • Partial Knee Replacement
  • Kneecap Replacement
  • Revision Knee Replacement

• Global Knee Replacement Market, By Implant Type:
  • Fixed-bearing Implants
  • Mobile-bearing Implants
  • Medial Pivot Implants
  • Others

• Global Knee Replacement Market, By Material:
  • Metal-on-Plastic
  • Ceramic-on-Plastic
  • Ceramic-on-Ceramic
  • Metal-on-Metal

• Global Knee Replacement Market, By End User:
  • Hospitals
  • Orthopedic Clinics
  • Ambulatory Surgery Centers
  • Others

• Global Knee Replacement Market, By Region:
  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Italy
    • Spain
    • France
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Australia
    • India
    • China
    • Japan
    • ASEAN
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • By Country/Region:
      • South Africa
      • Central Africa
      • North Africa

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. Our client base includes players from across various business verticals in over 57 countries worldwide.

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