The Total Hip and Knee Replacements Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Total Hip and Knee Replacements Global Market Report 2024, The total hip and knee replacements market size has grown strongly in recent years. It will grow from $20.44 billion in 2023 to $21.68 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to osteoarthritis and joint degeneration, patient awareness and education, healthcare infrastructure development, reimbursement policies, globalization of medical tourism..
The total hip and knee replacements market size is expected to see strong growth in the next few years. It will grow to $26.64 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to regenerative medicine advances, biocompatible implant materials, value-based healthcare initiatives, personalized medicine approaches, growing demand for joint preservation strategies.. Major trends in the forecast period include technological advancements in implants, minimally invasive techniques, robot-assisted surgery, value-based care and bundled payment models, telehealth and remote patient monitoring..
An increase in the number of sports injuries is expected to propel the growth of the total hip and knee replacement market going forward. Sports injuries refer to a range of physical injuries that occur as a result of participating in various athletic activities or sports, and these injuries affect different parts of the body, including muscles, bones, tendons, ligaments, and joints. High-impact or repetitive sports injuries, including torn ligaments, cartilage damage, and fractures, necessitate joint replacement surgery as a long-term solution for significant damage to the hip and knee joints. For instance, in September 2022, according to the National Safety Council, a US-based public health and safety organization, the number of reported sports and recreational injuries in the US increased by 20% in 2021 and 12% in 2022. Moreover, in 2022, 3.6 million individuals received medical treatment for sports and recreational equipment injuries in emergency departments. Therefore, an increase in the number of sports injuries will drive the growth of the total hip and knee replacement market.
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The total hip and knee replacements market covered in this report is segmented –
1) By Procedure Type: Total Hip Replacement, Partial Hip Replacement, Revision Hip Replacement, Total Knee Replacement, Partial Knee Replacement, Revision Knee Replacement
2) By Implant Type: Mobile Bearing, Fixed Bearing, Other Implant Types
3) By End-User: Hospitals, Ambulatory Surgical Centers, Orthopedic Clinics, Other End-Users
Major companies operating in the total hip and knee replacement market focus on robot-assisted, innovative surgery solutions, such as VELYS, to gain a competitive advantage. VELYS is a robot-assisted advanced medical system in which robotic systems and technology are employed to enhance the precision and accuracy of these orthopedic hip and knee replacement surgeries. For instance, in July 2021, DePuy Synthes Companies, a US-based orthopedic and medical device company, launched the Velys Digital Joint Reconstruction System. It is developed explicitly for utilization in hip and knee replacement surgeries, and it is engineered to be seamlessly compatible with the Attune knee implant. In addition to its advanced planning capabilities, the system aids the surgeon in achieving precise bone cuts and accurately positioning the replacement joint relative to the knee’s surrounding muscles, tendons, and ligaments.
The total hip and knee replacements market report table of contents includes:
- Executive Summary
- Total Hip and Knee Replacements Market Characteristics
- Total Hip and Knee Replacements Market Trends And Strategies
- Total Hip and Knee Replacements Market – Macro Economic Scenario
- Global Total Hip and Knee Replacements Market Size and Growth
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- Global Total Hip and Knee Replacements Market Competitive Benchmarking
- Global Total Hip and Knee Replacements Market Competitive Dashboard
- Key Mergers And Acquisitions In Total Hip and Knee Replacements Market
- Total Hip and Knee Replacements Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Johnson & Johnson
- Stryker Corporation
- Braun SE
- DePuy Synthes Companies
- Zimmer Biomet Holdings Inc.
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