The knee replacement market involves surgical procedures and implantation of artificial components or prostheses to replace the weight-bearing surfaces of the knee joint. It is most commonly performed for patients with osteoarthritis or rheumatoid arthritis who fail to respond to other therapies. Knee replacement implants replicate the natural knee motion and relieve pain while improving knee function. The procedure has proven to significantly improve patients' quality of life by restoring mobility.

The global knee replacement market is estimated to be valued at US$ 8.5 billion in 2024 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2028.

Key Takeaways

Key players operating in the knee replacement market are Zimmer Biomet Holdings, Inc., Johnson & Johnson, Stryker Corporation, Smith & Nephew, and Medacta.

The rising geriatric population worldwide presents a major Knee Replacement Market Size Globally, over 600 million people are estimated to be aged 60 and above by 2025. Knee osteoarthritis predominately affects those aged over 65. Furthermore, increasing demand for minimally invasive procedures and robot-assisted knee replacements present lucrative growth opportunities.

Major players are focused on expanding into emerging economies of Asia Pacific and Latin America to leverage high growth opportunities. J&J has expanded its manufacturing and R&D facilities in India and China. Zimmer Biomet has facilities in Brazil, Turkey and China to cater to these high potential markets.

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