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