Knee replacement surgery can alleviate pain and restore function in knees that are severely damaged. During the procedure, the damaged bone and cartilage of your thighbone, shinbone, and patella are removed and replaced with a prosthetic joint (prosthesis) composed of metal alloys, premium plastics, and polymers. The increasing prevalence of arthritic conditions such as osteoarthritis, psoriatic arthritis, and rheumatoid arthritis, as well as the growing elderly population, are anticipated to increase the demand for this surgery over the forecast period. In addition, increasing technological advancements, such as minimally invasive surgeries, and the presence of improved implant materials are anticipated to drive growth of the knee replacement market.
During the forecast period (2020-2027), the global market for Knee Replacements is expected to grow at a CAGR of 4.1%.
Major Players in the Knee Replacement Industry:
1. Zimmer Biomet
Zimmer Biomet is a publicly traded medical device company, was founded in 1927 and headquartered in Indiana, United States .It operates in more than 100 countries. In March 2023, Zimmer Biomet Holdings, Inc. announced intentions to introduce the most recent enhancements to ZBEdgeTM Dynamic IntelligenceTM at the 2023 Annual Meeting of the American Academy of Orthopaedic Surgeons (AAOS) in Las Vegas. ZBEdge Dynamic Intelligence integrates the digital, robotic, and implants technologies of Zimmer Biomet, connecting and gathering objective data throughout the entire episode of care.
2. Stryker Corporation
Stryker Corporation is an American multinational medical technologies corporation, was founded in 1941 and headquartered in Michigan, United States. It operates in over 100 countries across the world. In March 2023, at the AAOS 2023 Annual Meeting in Las Vegas, Stryker announced the launch of Mako Total Knee 2.0, the next chapter in the Mako SmartRoboticsTM series. Informed by more than half a million Mako Total Knee procedures, Mako Total Knee 2.0 is designed to deliver the same, trusted results surgeons have come to expect from Mako with a new, enhanced user experience.
3. Smith & Nephew Plc
Smith & Nephew Plc is a British Multinational medical equipment manufacturing company, was founded in 1856 and headquartered in England, UK. It operates in more than 35 countries. In March 2023, at the AAOS 2023 Annual Meeting, Smith+Nephew unveils 'Precision in Motion' for its Orthopaedics Arthroplasty portfolio.
4. Johnson & Johnson Services Inc.
Johnson & Johnson Services Inc. is a subsidiary of Johnson & Johnson and it carries out the products that provide consumer healthcare products. It was founded in 1886 and headquartered in New Jersey, the US. It operates in 60 countries.
5. B. Braun Melsungen AG
B. Braun Melsungen AG is a German medical and pharmaceutical device company, was founded in 1839 and headquartered in Melsungen, Germany .It operates in 64 countries.
6. Medacta International
Medacta International is a multinational corporation that specializes in the design, production, and distribution of innovative orthopaedic products, as well as the development of corresponding surgical techniques. Joint replacement, spine surgery, and sports medicine are areas of expertise for Medacta. It was founded in 1999 and headquartered in Castel San Pietro, Switzerland .It operates in 40 countries. In May 2023, Medacta will exhibit MyKA Kinematic Alignment Platform and NextAR Augmented Reality Surgical Platform at AAOS 2023 in March 2023. MyKA, Kinematic Alignment Platform, offers surgeons the most complete solution for safe and reproducible kinematic alignment. GMK Sphere knee implant, dedicated instrumentation to perform a personalized, reproducible surgical technique based on measured bone resections, tailored education programs, MyKnee® KA 3D preoperative planning and 3D printed patient-matched guides optimized for Kinematic Alignment.
7. MicroPort Scientific Corporation
MicroPort Scientific Corporation is a multinational medical technology developer and manufacturer, was founded in 1998 and headquartered in Shanghai, China. It operates in 25 countries. In May 2023, Brazil accepted MicroPort® MedBot®'s HonghuTM Orthopedic Surgical Robot. Shanghai MicroPort MedBot (Group) Co., Ltd. (henceforth "MicroPort® MedBot®") and its subsidiary Suzhou MicroPort NaviBot Co., Ltd. recently created the HonghuTM Orthopedic Surgical Robot (marketed worldwide as "SkyWalkerTM," henceforth "HonghuTM"). ANVISA approved the product for sale in Brazil.
8. ConforMIS, Inc.
ConforMIS, Inc. was founded in 2004 and headquartered in Massachusetts, United States. It operates in worldwide. In June 2021, Conformis, Inc. announced an exclusive distribution agreement in China, expanding the company's global presence and bringing patient-specific knee replacement systems to the largest market in Asia-Pacific. In Feb 2023, Conformis provided a business update regarding the introduction of their new advertising campaign emphasizing the Image-to-Implant Platinum Services program. The campaign concentrates on highlighting to patients the benefits of a fully personalized knee and will initially launch in a limited number of targeted markets.
9. Corin Group
Corin Group is a European orthopedic manufacturer, was founded in 1985 and headquartered in United Kingdom. It operates in 18 countries.
Definition: Knee replacement, also known as knee arthroplasty, is a surgical procedure that replaces the weight-bearing surfaces of the knee joint to alleviate pain and disability. It is most commonly performed when conservative treatments fail to alleviate joint discomfort.[
