The global knee replacement market size was exhibited at USD 10,285 million in 2024 and is projected to hit around USD 13,438 million by 2034, growing at a CAGR of 2.71% during the forecast period 2024 to 2034.
The knee replacement market refers to the production, distribution, and use of this replacement, which is a surgical procedure to resurface a knee damaged by arthritis. It is also called total knee replacement or knee arthroplasty. Plastic and metal parts are used to cap the bones that form a knee joint, along with the knee cap. The most common reason for knee replacement surgery is osteoarthritis. The major benefit of this surgery is that it reduces pain in the majority of patients. Additionally, it improves knee function. There is a high demand for this surgery in ambulatory surgical centers, orthopedic clinics, and hospitals, which drives the growth of the knee replacement market.
However, the risk factors of the market include the high cost of knee implants, increasing financial burden, limited infrastructure, and post-operative complications that can limit the growth of the market. The future scope of the market includes increased demand for automation, increased use of connected devices, continuous development of artificial intelligence, IoT, and cloud computing, and advancement in total knee replacement technologies that will help the growth of the knee replacement market.
Published by Laxmi Narayan
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| Stats ID: | 7532 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
| Stats ID: | 7532 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
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