Global Artificial Knee Joint Market – Industry Trends and Forecast to 2029

Global Artificial Knee Joint Market, By Type (Stainless Steel, Cobalt-Chromium Alloys, Titanium, Titanium Alloys, Polyethylene, Ceramics, Others), Application (Hospitals, Specialized Orthopaedic Clinics, Ambulatory Surgical Centers) – Industry Trends and Forecast to 2029.

Artificial Knee Joint Market Analysis and Size

Around 1.5 million surgical and traumatic injuries were recorded in America in 2018, resulting in more than 3 million physician visits, according to the American Academy of Knee and Hip Replacement. Additionally, a study published by NCBI in 2019 found that the high incidence rate of severe trauma among young adults aged 18 to 35 years old worldwide every year from 2014 to 2018 led to doctors referring approximately two-thirds of patients with sports-related injuries for a total knee replacement (TKA) procedure.

Data Bridge Market Research analyses that the artificial knee joint market which was USD 4.16 billion in 2021, would rocket up to USD 6.99 billion by 2029, and is expected to undergo a CAGR of 6.70% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Artificial Knee Joint Market Scope and Segmentation      

Market Definition

An arthritic or dysfunctional joint surface is replaced with an orthopaedic prosthesis during replacement arthroplasty, sometimes referred to as joint replacement surgery. Joint replacement procedures are considered when minimally invasive therapy cannot relieve joint discomfort or dysfunction.

Artificial Knee Joint Market Dynamics

Drivers

• Increasing obesity cases

The global rise in obesity cases caused by junk food intake, elevated stress levels, and stress-related neglect would contribute to the market expansion for artificial knee joint.

• Rise in knee replacement cases

The market has been fuelled by a combination of technological advancements and a rising demand for total knee arthroplasty with bicruciate retention throughout the forecast period of 2022–2029. Due to an ageing population and an increase in unicondylar knee replacement cases, the market will expand during the forecast period.

Opportunities

• Increasing geriatric population

 The global geriatric population is increasing rapidly, which is expected to drive the demand for artificial knee joints in the coming years.

Restraints/Challenges

On the other hand, the rising financial burden, the growing number of knee implant cases, and the high cost associated with the surgery will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the artificial knee joint market.

This artificial knee joint market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the artificial knee joint market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Artificial Knee Joint Market

Due to hospitals postponing or canceling surgeries and other procedures, such as arthroplasty and other knee replacement surgeries, many arthritis sufferers are suffering to get treated during the COVID-19 epidemic. Another issue is that individuals who need timely treatment for mild arthritis have regrettably conclude that the risk of getting COVID-19 may outweigh the advantages of arthroplasty. The COVID-19 epidemic is having a significant influence on the amount of hip and knee arthroplasty surgeries and might result in significant financial loss as non-essential surgery limitations continue in some areas of the United States.

Global Artificial Knee Joint Market Scope

The artificial knee joint market is segmented on the basis of type, application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Stainless Steel
• Cobalt-chromium Alloys
• Titanium and Titanium Alloys
• Polyethylene
• Ceramics
• Others

Application

• Hospitals
• Specialized Orthopedic Clinics
• Ambulatory Surgical Centers

Artificial Knee Joint Market Regional Analysis/Insights

The artificial knee joint market is analysed and market size insights and trends are provided by country, type, application as referenced above.

The countries covered in the artificial knee joint market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the artificial knee joint market due to factors such as the rise in the geriatric population and increasing cases of patients diagnosed with osteoarthritis.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 owing to factors such as growing prevalence of knee disorder, high rise in disposable income and improvement of healthcare infrastructure.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Artificial Knee Joint Market Share Analysis

The artificial knee joint market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to artificial knee joint market.

Some of the major players operating in the artificial knee joint market are:

• Aesculap, Inc. (U.S.)
• B. Braun Melsungen AG (Germany)
• Corin Group (U.K.)
• Medical Devices Business Services, Inc. (U.S.)
• Smith+ Nephew (U.K.)
• Stryker (U.S.)
• Zimmer Biomet (U.S.)
• Exactech, Inc. (U.S.)
• Medacta International (U.S.)
• MicroPort Orthopedics Inc. (Switzerland)
• Medtronic (U.S.)
• Johnson & Johnson Private Limited (U.S.)
• MicroPort Scientific Corporation (China)
• Conformis Inc. (U.S.)