KNEE REPLACEMENT MARKET ANALYSIS

Regional Analysis

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North America has dominated the global knee replacement market with an estimated market share of 40.2 % share in 2024 .The large size of the market in the U.S., along with strong healthcare infrastructure and high healthcare spending has made North America the premier location for major knee replacement device manufacturers. Several leading global players like Zimmer Biomet, Stryker Corporation and Johnson & Johnson have sizable operations and manufacturing facilities located in the U.S., catering to the local as well as international demand. The presence of major orthopedic surgical centers and growing geriatric population suffering from osteoarthritis has boosted the number of knee replacement surgeries in the U.S. The pricing of knee implants is also regulated by the government bodies, thus, ensuring affordability for patients.

The Asia Pacific region has emerged as the fastest growing market for knee replacements globally in the recent years. In particular, countries like China, Japan and India have witnessed double digit growth, and are gradually catching up to developed markets. This can be attributed to growing awareness about treatment options and rising affordability of implants and surgeries. While China and Japan already have sizable markets comparable to major Western countries, India's market is still untapped and holds huge future potential. Growing medical tourism where patients travel to India from other Asian and African countries for affordable surgeries has further boosted the knee replacement volumes in the country. The knee implants industry in Asia Pacific region has also benefited due to manufacturing investments from leading MNCs who are setting up production sites to cater to rising local as well as international demands.