TOTAL KNEE ARTHROPLASTY MARKET ANALYSIS

The Global Total Knee Arthroplasty Market is expected to reach US$ 12.68 Bn by 2030, from US$ 9.13 Bn in 2023, at a CAGR of 4.8% during the forecast period.

Total knee arthroplasty is one of the most common surgical procedure performed for the management of pain and restoring the function of severely damaged knee joints in orthopedic conditions such as osteoarthritis. This surgery involves cutting away damaged portions of the knee bones and replacing them with metal alloy implants and polyethylene polymers. Orthopedic surgeons carry out a full medical evaluation to determine suitability and risks associated with the surgery. Imaging analysis of the knee, such as radiography, is carried out to assess the severity of joint damage and ensure proper alignment of the artificial joint before closing the surgical incision. Total knee arthroplasty is recommended in conditions such as severe knee pain while carrying out normal day-to-day activities, knee deformity, chronic knee inflammation, and failure of other drug or surgery treatments for pain management.

The global total knee arthroplasty market is segmented by material type, implant type, end user, and region. By material type, the market is segmented into metal on plastic, ceramic on plastic, ceramic on ceramic, and metal on metal. The metal on plastic segment accounted for the largest market share in 2022 attributed to cost effectiveness, and it has a track record for safety and implant lifespan.

Global Total Knee Arthroplasty Market- Regional Insights

• North America is expected to be the largest market for total knee arthroplasty during the forecast period, accounting for 39.7% of the market share in 2023. The growth of the market in North America is attributed to factors such as the increasing prevalence of degenerative diseases, accidents and presence of key market players in this region. For instance, on October 30, 2023, Medacta Group S.A., a Swiss company that manufactures innovative, personalized, and sustainable joint replacement solutions, announced the launch of GMK SpheriKA, the world's first KA-optimized femoral component indicated for total knee replacement. On November 2, 2023, GMK SpheriKA will make its global debut at the American Association of Hip and Knee Surgeons (AAHKS) Annual Meeting.
• Europe is expected to be the second-largest market for total knee arthroplasty, accounting for over 23.1% of the market share in 2023. The growth of the market is attributed to presence of skilled healthcare professionals, top-notch healthcare institutes, increasing funding for novel treatment options, and novel product launches in the region. For instance, on October 11, 2023, Johnson & Johnson MedTech, a medical device company, officially launched the VELYS Robotic-Assisted Solution from DePuy Synthes, Johnson & Johnson's Orthopaedics firm, on the European market. In Germany, Belgium, and Switzerland, the VELYS Robotic-Assisted Solution was used to successfully complete total knee surgeries. DePuy Synthes expands its Digital Surgery Platform of connected technologies with this launch, addressing outstanding demands left unmet by previous-generation orthopedic robotics.
• The Asia Pacific is expected to be the fastest-growing market for total knee arthroplasty during the forecast period. The growth of the market in Asia Pacific is attributed to rising medical tourism and growing awareness about total knee arthroplasty. The total knee arthroplasty market in the Asia Pacific region is anticipated to develop at a CAGR of 4.8% over the forecasted period.

Figure 1. Global Total Knee Arthroplasty Market Share (%), By Region, 2023

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Analyst View Point:

The total knee arthroplasty market is expected to grow steadily over the next decade due to the aging global population and rising obesity rates. As people get older, they are more likely to develop osteoarthritis, which often leads to total knee replacement procedures. The market will see steady gains in developed nations as their populations continue to age. However, emerging economies are likely to see faster growth rates as healthcare access improves. On the technology front, robotic and computer-assisted surgeries are expected to drive innovation and faster recovery times. This could help overcome reluctance towards the procedure and further fuel market expansion worldwide.

Global Total Knee Arthroplasty Market- Drivers

• Implantable shock absorber: Implantable shock absorbers are revolutionizing the total knee arthroplasty market by providing patients with more natural movement and longevity of the implants. These new innovations allow implant joints to absorb shocks like natural knees, reducing stress on implants and making them last longer. For instance, on April 10, 2023, Moximed, a medical device company, announced that the U.S. Food and Drug Administration had approved the MISHA Knee System, an implantable shock absorber (ISA) for the knee. The MISHA Knee System is intended to treat people with medial knee osteoarthritis who failed to find relief from non-surgical or surgical treatment, are still experiencing pain that interferes with daily activities, and are ineligible for, or unwilling to undergo, joint replacement surgery due to age or the absence of advanced OA.
• Increasing incidence of arthritis: The increasing incidence of arthritis is a major factor driving the growth of the total knee arthroplasty market. According to an article published by the Lancet Rheumatology, an independent journal committed to publishing content relevant to rheumatology in September 2023, by 2050, 1 billion individuals are expected to have osteoarthritis globally, the most frequent type of arthritis. Osteoarthritis affects 15% of people aged 30 and over. The main causes of osteoarthritis include aging, population growth, and obesity. The same study found that osteoarthritis affected 595 million people in 2020.

Global Total Knee Arthroplasty Market- Opportunities

• Geographical expansion: Major players in the knee implants industry from the U.S. and Europe are actively looking to establish manufacturing and distribution networks in emerging and developed markets through acquisitions, joint ventures or contractual agreements. For instance, on April 5, 2023, Medacta announced the grand opening of its expanded distribution center in Memphis, U.S., which become operational on March 6, 2023. Medacta Americas Operations (MAO) will now occupy nearly 108,000 square feet in this newly constructed building, which will support all aspects of operations and distribution from a single location.
• Increase in medical tourism: Medical tourism is emerging as a great opportunity for the total knee arthroplasty market. As healthcare costs continue to rise in developed nations, more patients are looking to countries like India and Thailand, which offer quality knee replacement surgeries at a fraction of the cost. According to an article published by Med Tourism Co, LLC, an international medical travel company, the overall cost of knee replacement surgery in Delhi, NCR, is up to 70% less than in the U.K. and the U.S., including hospital stays and implants.
• Patient-specific knee implants: Patient-specific knee implants offer a great opportunity in the total knee arthroplasty market. With advancements in 3D printing and imaging technologies, it is now possible to precisely replicate the anatomical features of a patient's knee using medical imaging data. Surgeons can utilize custom implants tailored for each individual patient's knee anatomy and alignment requirements. This personalized approach can potentially provide a better postoperative fit and natural movement compared to traditional off-the-shelf implants.

Global Total Knee Arthroplasty Market- Trends

• Robotic assisted surgeries: Robotic systems are allowing surgeons to conduct total knee arthroplasty with increased precision, resulting in better patient outcomes. Moreover, an increase in the adoption of such platforms by healthcare institutions is bolstering the market development over the forecast period. For instance, on March 31, 2023, Jupiter Medical Center, a leader in quality, safety, and patient experience in Florida, USA, announced that it is the first in Palm Beach County to offer the VELYS Robotic-Assisted Solution, a technology that assists surgeons in performing a knee replacement that is individually tailored to each patient's anatomy. The innovative technology allows surgeons to do knee replacement procedures with greater digital precision, and Jupiter Medical Center is pleased to provide this innovative procedure to patients.
• Research and Development activities: Researchers and medical device companies are investing heavily in developing new implant designs, bearing surfaces, and surgical techniques that can ensure implants last longer and provide a more natural feel to patients. Companies are working on 3D-printed implants customized to individual knee anatomy that promise better fit and performance. For instance, in November 2021, Smith+Nephew, a medical technology company, announced the launch of its LEGION CONCELOC Cementless Total Knee System (TKS) and the first surgical procedures done. CONCELOC Advanced Porous Titanium is a 3D-printed porous structure technology that is patented and proprietary to Smith+Nephew.
• Growing popularity of outpatient knee replacement surgeries: The popularity of outpatient knee replacement surgeries is significantly impacting the total knee arthroplasty market. With advancements in surgical techniques and implant technologies, many orthopedic surgeons are now capable of performing knee replacement as an outpatient procedure compared to traditional inpatient surgeryThis shift towards outpatient knee replacement allows for a faster recovery process and provides a more convenient experience for patients.

Global Total Knee Arthroplasty Market- Restraints

• High cost of surgery and implants: The high cost of surgery and implants is significantly restraining the growth of total knee arthroplasty market. Knee replacement surgery is an expensive procedure that comes with a heavy financial burden. The average cost of a standard knee replacement surgery in the U.S. ranges from US$30,000 to US$50,000 depending on the hospital and location. This does not include the costs associated with knee implants and prosthetics, which can add another US$3,000-US$15,000 to the overall bills. Many patients are unable to afford such huge medical expenditures through their insurance coverage or out-of-pocket expenses.
• Risk of complications associated with surgery: The risk of complications associated with total knee arthroplasty (TKA) surgery is one of the major factors restraining the growth of the TKA market. TKA surgery, while effective in reducing pain and improving mobility for patients with knee arthritis, does carry risks of procedural complications. Some of the common complications of TKA include infection, implant loosening or failure, stiffness, instability, implant wear, nerve or blood vessel injury, blood clots in the leg veins or lungs, and allergic reactions to materials used during surgery. According to the National Health Service, a comprehensive public-health service under the government administration of Great Britain, due to the way blood flows and clots after surgery, blood clots, or DVT (deep vein thrombosis), are possible following a knee replacement. A blood clot that forms in the leg can sometimes go to the lungs (pulmonary embolism). This can lead to major complications. Furthermore, a blood artery, nerve, or ligament around the knee joint may be injured during surgery. This is uncommon and can be fixed during surgery or healed afterwards.

Global Total Knee Arthroplasty Market Recent Developments

• In November 2022, Zimmer Biomet Holdings, Inc., a global medical technology company, announced that the Persona OsseoTi Keel Tibia for cementless knee replacement has received U.S. FDA 510(k) clearance. Persona OsseoTi is the most recent addition to Zimmer Biomet's clinically proven Persona Knee System, and it includes a new porous version of the Persona anatomic tibia with OsseoTi Porous Metal Technology, which uses anatomical data in conjunction with 3D printing technology to build a structure that directly mimics the architecture of human cancellous - or spongey - bone.
• In March 2022, Johnson & Johnson MedTech, a healthcare technology company, announced the addition of two new innovations to its kinematically advanced and proven ATTUNE Knee portfolio by DePuy Synthes, the Orthopaedics Company of Johnson & Johnson: the ATTUNE Cementless Fixed Bearing Knee with AFFIXIUM 3DP Technology and the ATTUNE Medial Stabilized Knee System.
• In December 2021, MicroPort Orthopedics, a global leader in orthopedic devices and technologies, announced the successful completion of the first surgery in the U.S. utilizing Pixee Medical, U.S. FDA-cleared augmented reality surgical application for assistance in total knee arthroplasties. Pixee Medical's Knee+ is a patented platform designed to assist orthopedic surgeons in performing surgeries better and faster by providing real-time positioning of instruments right in their field of view via smartglasses.

Collaborations:

• In December 2022, THINK Surgical, a technology innovator developing orthopedic surgical robots, announced a collaboration with a U.K.-based digital health company, Definition Health. The companies will jointly develop a seamless, web-based, connected care solution to enhance the surgical planning experience for surgeons using THINK's robotic technologies for joint replacement surgery. This web-based solution will support all of THINK's robotic products, including new product launches planned for 2023.
• In September 2020, Total Joint Orthopedics, Inc.,a medical device company announced a new collaboration with THINK Surgical, Inc. THINK Surgical will develop software that will allow TJO's Klassic Knee System to be implanted using THINK's TSolution One Total Knee Application, and both companies will co-market the solution once the Klassic Knee System receives 510(k) clearance to use the TSolution One Total Knee Application.

Figure 2. Global Total Knee Arthroplasty Market Share (%), By Material Type, 2023

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Top companies in Global Total Knee Arthroplasty Market:

• Depuy Synthes
• Zimmer Biomet Holdings Inc.
• MicroPort Scientific Corporation
• Conformis Inc.
• Corin Group
• Exactech Inc.
• DJO, LLC
• Medacta International
• Smith & Nephew plc
• Stryker Corporation
• Baumer SA
• SurgTech Inc.
• Meril Life Sciences Pvt. Ltd.
• Total Joint Orthopedics
• Allegra Orthopedics Limited
• ConforMIS Inc.
• Medacta Group S.A.

Definition: Knee replacement, also called knee arthroplasty or total knee replacement, is a surgical procedure performed to resurface a knee damaged by arthritis. Metal and plastic components, as well as the kneecap, are used to cap the ends of the bones that comprise the knee joint. Someone with severe arthritis or a severe knee injury may benefit from this procedure.