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One of the factors driving the market is likely an increase in the incidence of joint diseases
VANCOUVER, BC, CANADA, January 30, 2025 /EINPresswire / -- The Artificial Hip Knee Joints Market is expected to grow from an estimated USD 13.25 billion in 2024 to USD 18.22 billion in 2033, at a CAGR of 3.6%. With the increasing incidence of joint diseases such as osteoarthritis and rheumatoid arthritis, the demand for artificial hip and knee joints is on the rise. These conditions, often associated with aging, cause severe joint damage, leading to pain and loss of mobility. As a result, surgical intervention becomes necessary for many affected patients.
Key Market Drivers:
Prevalence of Joint Disorders: The rising prevalence of joint disorders like arthritis, injuries, and degenerative diseases has significantly increased the demand for joint replacements. Osteoarthritis, a degenerative condition where cartilage deteriorates, and rheumatoid arthritis, an autoimmune disease, are major contributors to this demand.
Aging Population: The aging population continues to be a major factor driving the growth of the artificial hip and knee joint market. As the population over 65 years increases, the need for joint replacements is expected to grow continuously.
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Recent Developments:
FDA Approval of SKYRIZI: In January 2022, AbbVie received FDA approval for SKYRIZI (risankizumab-rzaa) for treating adults with active psoriatic arthritis. This medication, given as a single shot, requires only four shots per year.
Green Roads Donation: In March 2022, Green Roads, a subsidiary of The Valens Company, donated USD 120,000 to the Arthritis Foundation to support its pain management initiative, improving the quality of life for people living with chronic pain.
Market Restraints:
While the demand for artificial joints is high, the market growth is restrained by surgical risks and complications. Hospitals and surgical centers play a crucial role in offering treatment for complex cases. However, the risks associated with surgery, such as infection and blood clots, remain a concern.
Surgical and Treatment Centers:
Hospitals: Equipped with advanced diagnostic facilities and specialized medical staff, hospitals handle complex and critical cases. They provide multidisciplinary treatment and post-surgical care, including rehabilitation and physical therapy.
Surgery Centers: These facilities focus on outpatient surgeries, offering less invasive procedures with shorter hospital stays and faster recovery times. They handle less complex cases and provide a more focused environment for patients.
Market Segment Insights:
Artificial joint replacement surgeries are typically performed by specialized surgeons in orthopedic departments of hospitals. Patients require a period of rehabilitation post-surgery to improve mobility, strength, and functionality of the replaced joint. Both hospitals and surgery centers play a vital role in ensuring the success of these procedures.
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Artificial Hip Knee Joints Top Companies and Competitive Landscape
The artificial hip and knee joint industry is a very integral part of the orthopedic medical device market. It is one of those industries showing rapid growth due to the increase in demand caused by changes in global demographics and a rise in musculoskeletal disorders. This business mainly deals with prosthetics implants that replace the damaged or diseased joints, thus restoring mobility to individuals affected by diseases like osteoarthritis, rheumatoid arthritis, and traumatic injury.
The Key players operating in the Artificial Hip Knee Joints Market includes Exactech, Inc., CORENTEC Co., Ltd., Smith+Nephew, Zimmer Biomet, Enovis Corporation, Johnson & Johnson (DePuy Synthes), Medacta International, MicroPort Orthopedics, Inc., Stryker, CONMED Corporation., and Others.
Some of the key companies in the global Artificial Hip Knee Joints Market include:
Exactech, Inc.
CORENTEC Co., Ltd.
Smith+Nephew
Zimmer Biomet
Enovis Corporation
Johnson & Johnson (DePuy Synthes)
Medacta International
MicroPort Orthopedics, Inc.
Stryker
CONMED Corporation
Artificial Hip Knee Joints Latest Industry Updates
In February 2024, the U.S. Food and Drug Administration cleared artificial joint manufacturer Corentec to market its new hip artificial cup, called the BENCOX Mirabo Z Cup Continuum.
In October 2023, Swiss-based company Medacta Group S.A. has launched the GMK SpheriKA femoral component, designed to optimize Kinematic Alignment in total knee replacement.
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Artificial Hip Knee Joints Market Segmentation Analysis
Site Outlook (Revenue, USD Billion; 2020-2033)
Hip Joints
Total Hip
Partial Femoral Head
Hip Resurfacing
Revision Hip
Knee Joints
By Knee Product
Fixed-bearing Implants
Mobile-bearing Implants
By Knee Procedure
Total Knee Replacement
Partial Knee Replacement
Revision Knee Replacement
End Use Outlook (Revenue, USD Billion; 2020-2033)
Hospitals & Surgery Centers
Orthopedic Clinics
Others
Regional Outlook (Revenue, USD Billion; 2020-2033)
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Benelux
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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Latest Published Reports by Emergen Research:
Artificial Hip Knee Joints Market Size @ /market-size
Artificial Hip Knee Joints Market Share @ /market-share
Artificial Hip Knee Joints Market Trends @ /market-trends
Artificial Hip Knee Joints Regional Market Demand @ /regional-market-demand
Artificial Hip Knee Joints Market Analysis @ /market-analysis
Eric Lee
Emergen Research
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