The knee implant market is projected to increase from US$ 12.97 billion in 2022 to US$ 18.90 billion by 2030, with an anticipated compound annual growth rate (CAGR) of 4.82% during this period.

A knee implant, commonly referred to as a prosthesis, is a medical device specifically engineered to replace a damaged or diseased knee joint. This implant plays a vital role in knee replacement surgeries, aimed at relieving pain, restoring functionality, and enhancing mobility for individuals suffering from advanced arthritis, severe knee injuries, or other degenerative conditions affecting the knee joint. Typically, knee implants are constructed from metal alloys, high-quality polymers, and occasionally ceramic materials, all designed to mimic the natural function of the knee joint.

The growth of the knee implant market is significantly driven by ongoing technological advancements aimed at improving procedural efficacy and attracting a larger patient base.

The rising incidence of knee injuries, particularly among athletes and physically active individuals, has heightened the demand for knee implants to address trauma-related joint damage. This trend, coupled with an aging population and a lifestyle that increasingly prioritizes physical activity, is expected to further propel the knee implant market, as it seeks to provide effective and innovative orthopedic solutions for joint replacement surgeries. Moreover, advancements in technology have dramatically reshaped the medical landscape, enhancing both the efficacy and safety of procedures, which in turn attracts more patients. In the healthcare sector, cutting-edge medical technologies have been instrumental in improving treatment outcomes and enhancing patient experiences, leading to a growing preference for such procedures. For example, minimally invasive surgical techniques, precision medicine, and innovative diagnostic tools have optimized treatment effectiveness, shortened recovery times, and reduced the invasiveness of certain procedures, making them more appealing to patients. Additionally, the introduction of advanced surgical robots, real-time imaging technologies, and remote monitoring solutions has created an environment conducive to proactive and personalized care, further boosting patient confidence and interest in these innovative medical interventions. As technological innovations continue to evolve, patients are increasingly inclined towards procedures that promise enhanced precision, lower risks, and improved post-operative recovery, indicating a notable shift in patient preferences towards treatments that incorporate the latest advancements in medical technology.

Despite these positive trends, the high costs associated with orthopedic procedures and limited availability of services pose challenges to the growth of the knee implant market. The significant expenses linked to orthopedic surgeries, including knee implant procedures, can limit access to these treatments, especially for patients with constrained financial resources or those living in underserved regions. Furthermore, the extensive training, expertise, and infrastructure required for orthopedic surgeries, along with the complex nature of knee implant procedures, have resulted in a shortage of skilled orthopedic surgeons in certain areas. This scarcity can lead to long waiting times for orthopedic procedures, adversely affecting patient access and healthcare delivery. To address these challenges and enhance access to orthopedic care, it is essential to implement specialized training programs, utilize telemedicine for surgical assistance, and expand healthcare infrastructure, which would ultimately support the growth of the knee implant market.

The knee implant market is categorized based on procedure type, implant type, material, and end user. In terms of procedure type, the market is divided into total knee replacement, partial knee replacement, and revision knee replacement. The implant type segmentation includes fixed-bearing prosthesis and mobile-bearing prosthesis. Material-wise, the market is classified into total cemented and non-cemented options. By end user, the market is segmented into hospitals, ambulatory surgical centers, and other facilities. Geographically, the knee implant market report is primarily segmented into North America (including the US, Canada, and Mexico), Europe (covering Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (including South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (comprising South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (including Brazil, Argentina, and the Rest of South & Central America).

In terms of revenue, North America holds a dominant share of the knee implant market, primarily due to a higher incidence of knee replacement surgeries in the US. Contributing factors include an increase in accident cases and a growing number of individuals suffering from degenerative diseases. For instance, a report from the Canadian Institute for Health Information indicated that approximately 75,073 knee replacements were performed in Canada in 2020, with the country spending over USD 1.4 billion annually on knee replacement surgeries. However, the disabled population in the region has faced significant challenges due to lockdown measures.

The US knee replacement market is expanding due to various factors, including the introduction of key products, a high concentration of manufacturers, and strategic alliances among major competitors. The presence of leading players positions the US as a crucial market for knee implant growth. For example, in November 2021, OrthAlign, a privately held company in the US, launched a new handheld smart instrument for knee replacement surgery called Lantern, which offers precise, customized alignment for each patient with a single use. This portable, intelligent device accommodates multiple implant systems and surgical techniques, and such product innovations are expected to drive market growth in the country.

Key primary and secondary sources, including the Centers for Disease Control and Prevention (CDC) and the Food and Drug Administration (FDA), have been referenced in the preparation of the knee implant market report.