How is the Total Hip and Knee Replacements Market Poised for Growth: Trends and Opportunities Through 2034
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How Will the Total Hip and Knee Replacements Market’s Growth Rate Evolve Over the Forecast Period to 2034?
The market size for total hip and knee replacements has seen robust growth in the past few years. The market, which was valued at $21.68 billion in 2024, is projected to rise to $22.97 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.0%. This expansion during the historical period can be linked to factors such as the prevalence of osteoarthritis and joint degeneration, heightened patient awareness and education, progress in healthcare infrastructure, reimbursement policies, as well as the globalization of medical tourism.
In the approaching years, the market size of total hip and knee replacements is predicted to experience significant growth, reaching a value of $28.26 billion by 2029 at a compound annual growth rate (CAGR) of 5.3%. Such growth over the forecasted period can be linked to several factors including advancements in regenerative medicine, the development of more biocompatible implant materials, a focus on value-based healthcare initiatives, the application of personalized medicine techniques, and an increased demand for joint preservation strategies. Furthermore, anticipated trends during this period include technology-driven enhancements in implants, the use of less invasive procedures, the adoption of robot-assisted surgeries, implementation of value-driven care and bundled payment models, alongside the utilization of telehealth and remote patient monitoring.
What Drivers Are Shaping the Growth of the Total Hip and Knee Replacements Market?
The total hip and knee replacement market is predicted to grow on the back of a rising number of sports injuries. Sports injuries, inflicting harm upon various body parts like muscles, tendons, bones, ligaments, and joints, are injuries suffered while participating in diverse athletic activities or sports. Joint replacement surgeries are often the viable long-term solution for serious damage to knee and hip joints caused by high-impact or recurrent sports injuries such as ligament tears, cartilage damage, and fractures. According to the National Safety Council, a non-profit organization based in the US, emergency departments in 2023 catered to 3.7 million individuals with injuries sustained from recreational and sports equipment. In 2023, the injury numbers rose by 8%, with 482,886 reported cases as against 445,642 in 2022. Therefore, the growing frequency of sports injuries will support the total hip and knee replacement market growth.
Total Hip and Knee Replacements Market Driver: The Effect of Obesity on Joint Health and its Contribution to the Total Hip And Knee Replacement Market
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Who Are the Influential Players Reshaping the Total Hip and Knee Replacements Market Landscape?
Major companies operating in the total hip and knee replacements market report are:
• Johnson & Johnson_x000D_
• Stryker Corporation_x000D_
• B. Braun SE_x000D_
• DePuy Synthes Companies_x000D_
• Zimmer Biomet Holdings Inc._x000D_
What New and Evolving Trends Are Having a Lasting Impact on the Total Hip and Knee Replacements Market?
Leading corporations in the total hip and knee replacement market are focusing their efforts on the advancement of technologies such as superior bearing surfaces. The aim here is to increase the lifespan of the implant, lessen wear and tear as well as corrosion, boost patient results, and lessen the chances of complications such as dislocation. By doing so, they aim to create safer and more efficient solutions for joint replacement procedures. Advanced bearing surface is a term used to describe innovative materials and designs utilized in joint implants to reduce wear and increase durability. This technology improves the functionality of hip and knee replacements by minimising friction and corrosion, thereby enhancing patient results. For instance, Smith & Nephew plc, a company that specializes in medical technology based in the UK, introduced its OR3OTM Dual Mobility System in August 2023. The OR3O system is equipped with a small diameter femoral head that fits into a larger polyethylene insert, which not only increases stability but also offers improved range of motion, an upgrade on traditional hip implants.
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What Are the Major Categories and Their Growth Dynamics in the Total Hip and Knee Replacements Market?
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
Subsegments:
1) By Total Hip Replacement: Primary Total Hip Replacement, Revision Total Hip Replacement
2) By Partial Hip Replacement: Hemiarthroplasty, Resurfacing Procedures
3) By Revision Hip Replacement: Complex Revision Procedures, Standard Revision Procedures
4) By Total Knee Replacement: Primary Total Knee Replacement, Revision Total Knee Replacement
5) By Partial Knee Replacement: Unicompartmental Knee Replacement, Patellofemoral Replacement
6) By Revision Knee Replacement: Complex Revision Procedures, Standard Revision Procedures
Which Geographic Locations Are Critical to the Growth of the Total Hip and Knee Replacements Market?
North America was the largest region in the total hip and knee replacements market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the total hip and knee replacements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Are the Defining Aspects of the Total Hip and Knee Replacements Market Landscape?
Total hip and knee replacements refer to surgical procedures that involve replacing a damaged or arthritic hip or knee joint with artificial implants, typically made of metal, plastic, or ceramic materials. Total hip and knee replacements treat and address various medical conditions, such as knee damage or arthritis.
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