Product Code: GVR-4-68040-478-1
Artificial Hip And Knee Joints Market Growth & Trends:
The global artificial hip and knee joints market size is expected to reach USD 15.31 billion by 2030, and is anticipated to grow at a CAGR of 2.85% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demand for artificial hip & knee joints is expected to increase due to the growing prevalence of weakened bones, reduced bone density, and musculoskeletal disorders. The growing risk of degenerative bone diseases is another factor expected to propel market growth over the forecast period. Moreover, the growing awareness and the availability of minimally invasive surgical techniques, which offer multiple benefits, are likely to facilitate market growth during the projected period.
The growing adoption of minimally invasive procedures is due to these procedures resulting in lesser trauma and faster recovery than invasive ones. With shorter recovery periods, the duration of hospital stays for patients is reduced, consequently lowering the expenses related to both the surgery and the hospitalization. For instance, traditional knee replacement operations require an 8 to 10-inch-long vertical cut to access the joint. However, minimally invasive procedures are becoming more popular than open or invasive surgeries for several reasons, which are as follows,
- Economically viable due to short duration of hospital stays
- Fewer incision wounds lead to higher patient satisfaction
- Fewer cases of postsurgical complications and low mortality.
Major locally present companies are adopting strategies, such as mergers, collaborations, and product launches, to maintain a competitive edge. For instance, in September 2022, Smith+Nephew announced the introduction of its OR3O Dual Mobility System in Japan; the system can be used in both revision and primary hip arthroplasty procedures. The OR3O uses the company's OXINIUM on XLPE for its polyethylene inserts & femoral head and OXINIUM DH, an advanced bearing surface for its liner. Compared to traditional solutions, mobility implants provide a wider range of motion, lowering the risk of dislocation and enhancing stability.
Moreover, continuous research and development in the artificial hip and knee joints market aim to improve joints' longevity, functionality, and biocompatibility. This includes incorporating innovative materials, such as advanced ceramics and highly durable metals, and developing minimally invasive surgical techniques to enhance patient outcomes and reduce recovery times.
Artificial Hip And Knee Joints Market Report Highlights:
- Based on site, the knee joints segment dominated the market in 2023. The increasing prevalence of knee osteoarthritis and the availability of a large number of products boost the segment's growth
- Based on end use, the hospitals & surgery centers segment dominated market in 2023. The rising number of hospital admissions for bone fractures and injuries caused by road accidents is estimated to boost the market's growth.
- North America dominated the global market due to the presence of a large number of major market players, favorable government initiatives and reimbursement policies, and the launch of a diverse range of products and procedures aimed at restoring stability and functionality.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Segment scope
- 1.1.2. Regional scope
- 1.1.3. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.4. Information or Data Analysis
- 1.4.1. Data analysis models
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.6.1. Commodity flow analysis (Model 1)
- 1.6.1.1. Approach 1: Commodity flow approach
- 1.7. Research Assumptions
- 1.8. List of Secondary Sources
- 1.9. List of Primary Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Site outlook
- 2.2.2. End Use outlook
- 2.2.3. Regional outlook
- 2.3. Competitive Insights
Chapter 3. Artificial Hip & Knee Joints Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.2. Market restraint analysis
- 3.3. Artificial hip & knee joints: Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.2. PESTLE Analysis
- 3.4. Regulatory Framework
- 3.5. Product Pipeline Analysis
Chapter 4. Artificial Hip & Knee Joints Market Segment Analysis, By Site, 2018 - 2030 (USD Million)
- 4.1. Definition and Scope
- 4.2. Site Market Share Analysis, 2023 & 2030
- 4.3. Segment Dashboard
- 4.4. Global artificial hip & knee joints market, by Site, 2018 to 2030
- 4.5. Hip Joints
- 4.5.1. Hip Joints market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.5.2. Total Hip
- 4.5.2.1. Total Hip market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.5.2.2. Partial Femoral Head
- 4.5.2.2.1. Partial Femoral Head market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.5.2.3. Hip Resurfacing
- 4.5.2.3.1. Hip Resurfacing market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.5.2.4. Revision Hip
- 4.5.2.4.1. Revision Hip market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.6. Knee Joints
- 4.6.1. By Knee Products
- 4.6.2. Fixed-bearing Implants
- 4.6.2.1. Fixed-bearing Implants market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.6.3. Mobile-bearing Implants
- 4.6.3.1. Mobile-bearing Implants market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.6.4. By Knee Procedure
- 4.6.5. Total knee replacement
- 4.6.5.1. Total knee replacement market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.6.6. Partial knee replacement
- 4.6.6.1. Partial knee replacement market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.6.7. Revision knee replacement
- 4.6.7.1. Revision knee replacement market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 5. Artificial Hip & Knee Joints Market Segment Analysis, By End Use, 2018 - 2030 (USD Million)
- 5.1. Definition and Scope
- 5.2. End Use Market Share Analysis, 2023 & 2030
- 5.3. Segment Dashboard
- 5.4. Global artificial hip & knee joints market, by End Use, 2018 to 2030
- 5.5. Hospitals & Surgery Centers
- 5.5.1. Hospitals & Surgery Centers market estimates and forecasts, 2018 to 2030 (USD million)
- 5.6. Orthopedic Clinics
- 5.6.1. Orthopedic Clinics market estimates and forecasts, 2018 to 2030 (USD million)
- 5.7. Others
- 5.7.1. Others market estimates and forecasts, 2018 to 2030 (USD million)
Chapter 6. Artificial Hip & Knee Joints Market Segment Analysis, By Region, 2018- 2030 (USD Million)
- 6.1. Regional Market Share Analysis, 2023 & 2030
- 6.2. Regional Market Dashboard
- 6.3. Regional Market Snapshot
- 6.4. Artificial Hip & Knee Joints Market Share by Region, 2023 & 2030:
- 6.5. North America
- 6.5.1. North America artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.5.2. U.S.
- 6.5.2.1. U.S. artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.5.3. Canada
- 6.5.3.1. Canada artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.5.4. Mexico
- 6.5.4.1. Mexico artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.6. Europe
- 6.6.1. Europe artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.6.2. UK
- 6.6.2.1. UK artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.6.3. Germany
- 6.6.3.1. Germany artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.6.4. France
- 6.6.4.1. France artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.6.5. Italy
- 6.6.5.1. Italy artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.6.6. Spain
- 6.6.6.1. Spain artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.6.7. Norway
- 6.6.7.1. Norway artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.6.8. Sweden
- 6.6.8.1. Sweden artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.6.9. Denmark
- 6.6.9.1. Denmark artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.7. Asia Pacific
- 6.7.1. Japan
- 6.7.1.1. Japan artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.7.2. China
- 6.7.2.1. China artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.7.3. India
- 6.7.3.1. India artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.7.4. Australia
- 6.7.4.1. Australia artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.7.5. South Korea
- 6.7.5.1. South Korea artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.7.6. Thailand
- 6.7.6.1. Thailand artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.8. Latin America
- 6.8.1. Brazil
- 6.8.1.1. Brazil artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.8.2. Argentina
- 6.8.2.1. Argentina artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.9. MEA
- 6.9.1. South Africa
- 6.9.1.1. South Africa artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.9.2. Saudi Arabia
- 6.9.2.1. Saudi Arabia artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.9.3. UAE
- 6.9.3.1. UAE artificial hip & knee joints market, 2018 - 2030 (USD Million)
- 6.9.4. Kuwait
- 6.9.4.1. Kuwait artificial hip & knee joints market, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Profiles
- 7.3.1. Exactech, Inc.
- 7.3.1.1. Company overview
- 7.3.1.2. Financial performance
- 7.3.1.3. Product benchmarking
- 7.3.1.4. Strategic initiatives
- 7.3.2. CORENTEC Co., Ltd.
- 7.3.2.1. Company overview
- 7.3.2.2. Financial performance
- 7.3.2.3. Product benchmarking
- 7.3.2.4. Strategic initiatives
- 7.3.3. Smith+Nephew
- 7.3.3.1. Company overview
- 7.3.3.2. Financial performance
- 7.3.3.3. Product benchmarking
- 7.3.3.4. Strategic initiatives
- 7.3.4. Zimmer Biomet
- 7.3.4.1. Company overview
- 7.3.4.2. Financial performance
- 7.3.4.3. Product benchmarking
- 7.3.4.4. Strategic initiatives
- 7.3.5. Johnson & Johnson (DePuy Synthes)
- 7.3.5.1. Company overview
- 7.3.5.2. Financial performance
- 7.3.5.3. Product benchmarking
- 7.3.5.4. Strategic initiatives
- 7.3.6. Enovis Corporation
- 7.3.6.1. Company overview
- 7.3.6.2. Financial performance
- 7.3.6.3. Product benchmarking
- 7.3.6.4. Strategic initiatives
- 7.3.7. Medacta International
- 7.3.7.1. Company overview
- 7.3.7.2. Financial performance
- 7.3.7.3. Product benchmarking
- 7.3.7.4. Strategic initiatives
- 7.3.8. MicroPort Orthopedics, Inc.
- 7.3.8.1. Company overview
- 7.3.8.2. Financial performance
- 7.3.8.3. Product benchmarking
- 7.3.8.4. Strategic initiatives
- 7.3.9. Stryker
- 7.3.9.1. Company overview
- 7.3.9.2. Financial performance
- 7.3.9.3. Product benchmarking
- 7.3.9.4. Strategic initiatives
- 7.3.10. CONMED Corporation
- 7.3.10.1. Company overview
- 7.3.10.2. Financial performance
- 7.3.10.3. Product benchmarking
- 7.3.10.4. Strategic initiatives