The knee implant market is expected to grow from US$ 12.97 billion in 2022 to US$ 18.90 billion by 2030; it is anticipated to record a CAGR of 4.82% from 2022 to 2030.

A knee implant, also known as a prosthesis, refers to a medical device designed to replace a damaged or diseased knee joint. The knee implant is a crucial component of knee replacement surgery, intended to alleviate pain, restore function, and improve mobility for individuals with advanced arthritis, severe knee injuries, or other degenerative conditions affecting the knee joint. The knee implant typically comprises metal alloys, high-grade polymers, and, in some cases, ceramic components, aiming to replicate the knee joint's natural function.

Increasing technical advancements to enhance the procedure efficacy and attract more patients drive the growth of the knee implant market.

Increasing cases of knee injuries, particularly among athletes and active people, have accentuated the demand for knee implants to address trauma-related joint damage are among the factors contributing to the growing knee implant market size. As the population ages and lifestyles continue to emphasize physical activity, the knee implant market is expected to expand further to provide effective and advanced orthopedic solutions for joint replacement procedures. Furthermore, technological advancements have significantly transformed the landscape of medical procedures, leading to enhanced efficacy and safety, thereby attracting an increasing number of patients. In healthcare, advanced medical technologies have played a pivotal role in improving treatment outcomes and patient experiences, increasing patient preference for such procedures. For instance, minimally invasive surgical techniques, precision medicine, and innovative diagnostic tools have optimized treatment efficacy, reduced recovery times, and minimized the invasiveness of certain procedures, making them more appealing to patients. Additionally, advanced surgical robots, real-time imaging technologies, and remote monitoring solutions have fostered an environment of proactive and personalized care, further elevating patient confidence and interest in seeking these innovative medical interventions. As technological innovations progress, patients are increasingly drawn to procedures that offer improved precision, reduced risks, and better post-operative recovery, reflecting a palpable shift in patient preferences toward treatments that integrate the latest advancements in medical technology.

However, high cost of orthopedic procedures and limited availability impede the knee implant market growth. The considerable expenses associated with orthopedic surgeries, including knee implant procedures, can restrict access to these treatments, particularly for patients with limited financial resources or those residing in underserved areas. Additionally, the extensive training, expertise, and infrastructure required for orthopedic surgeries and the complex nature of knee implant procedures have led to a scarcity of skilled orthopedic surgeons in certain regions. This limited availability may create significant waiting times for orthopedic procedures, impacting patient access and healthcare delivery. Specialized training programs, surgical assistance through telemedicine, and expanded healthcare infrastructure are thus essential to overcome these challenges and improve access to orthopedic care, which would ultimately foster the growth of the knee implant market.

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

Based on geography, the knee implant market is classified into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.

In terms of revenue, North America dominated the knee implant market share owing to a higher incidence of knee replacement in the US. Furthermore, factors like an increase in accident cases and a rise in the number of people with degenerative diseases are to blame for the spike. For instance, according to a report released in June 2021 by the Canadian Institute for Health Information, about 75,073 knee replacements were carried out in Canada in 2020. Additionally, it stated that Canada spends more than USD 1.4 billion annually on knee replacement surgery for healthcare. However, the region's disabled population has found life particularly difficult as a result of the lockdown.

The US knee replacement market is growing owing to various factors such as key product introductions, a high concentration of manufacturers or market players, and alliances and acquisitions among prominent competitors. Furthermore, the strategic presence of key players positions the US is a key country for the knee implant market growth. For instance, the newest handheld smart instrument for knee replacement surgery, Lantern, was introduced in November 2021 by OrthAlign, a privately held business in the US. The device provides precise, customized alignment for every patient with just one use. It is a portable, intelligent instrument with many implant systems and surgical techniques. These ongoing product launches are expected to propel the nation's market expansion.

Centers for Disease Control and Prevention (CDC) and Food and Drug Administration (FDA) are key primary and secondary sources referred to while preparing the knee implant market report.