The global knee replacement market is experiencing significant growth, driven by an aging population, increasing prevalence of knee joint disorders, and advancements in surgical technologies. Valued at approximately USD 8.96 billion in 2024, the market is projected to reach USD 13.17 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.0% during the forecast period.

Market Drivers

1. Aging Population: The global demographic shift towards an older population is a primary driver of the knee replacement market. As individuals age, the incidence of osteoarthritis and other degenerative joint diseases increases, leading to a higher demand for knee replacement surgeries.
2. Rising Prevalence of Knee Disorders: Conditions such as osteoarthritis, rheumatoid arthritis, and post-traumatic arthritis are becoming more prevalent, contributing to the growing need for knee replacement procedures.
3. Technological Advancements: Innovations in surgical techniques, such as minimally invasive procedures and robotic-assisted surgeries, have improved patient outcomes and reduced recovery times, making knee replacement surgeries more accessible and appealing to patients.
4. Enhanced Implant Materials: Advancements in implant materials, including the development of more durable and biocompatible materials, have increased the longevity and effectiveness of knee implants, thereby boosting patient satisfaction and adoption rates.

Market Segmentation

By Procedure Type:

• Total Knee Arthroplasty (TKA): This segment dominates the market, accounting for the majority of knee replacement procedures. TKA involves the complete replacement of the knee joint and is commonly performed to treat advanced arthritis.
• Partial Knee Arthroplasty (PKA): PKA is gaining popularity due to its less invasive nature and quicker recovery times. It is suitable for patients with limited joint damage.

By Region:

• North America: Leading the market, North America held a 50.89% share in 2024. The high adoption rate of advanced surgical technologies and a large aging population contribute to this dominance.
• Europe: Europe is experiencing steady growth, driven by healthcare infrastructure improvements and increasing awareness of knee replacement options.
• Asia-Pacific: The Asia-Pacific region is anticipated to witness the highest growth rate due to improving healthcare facilities, rising disposable incomes, and a growing elderly population.

Competitive Landscape

The knee replacement market is highly competitive, with several key players leading the industry:

• Zimmer Biomet: A major player in the orthopedic sector, Zimmer Biomet has been expanding its portfolio through strategic acquisitions. For instance, in July 2025, the company announced the acquisition of Monogram Technologies for approximately $177 million to enhance its robotics portfolio, particularly in surgical robotics, Reuters.
• Stryker Corporation: Stryker reported a 10% organic sales growth in Q1 2024, with knee replacement revenue growing 4%. Despite the lower-than-expected knee replacement revenue, the company’s overall performance was strong, leading to a raised 2024 guidance, Investors.
• Smith & Nephew: The company has been focusing on enhancing its orthopedics business, including knee replacements. Despite challenges in the Chinese market, Smith & Nephew reported a 4.7% revenue increase to $5.81 billion in 2024, Financial Times.

Future Outlook

The knee replacement market is poised for continued growth, with projections indicating a market size of USD 16.6 billion by 2032, Market.us Media. Factors such as technological advancements in surgical procedures, increased patient awareness, and improvements in implant materials are expected to drive this growth. Additionally, the expansion of healthcare infrastructure in emerging markets will contribute to the global adoption of knee replacement surgeries.

In conclusion, the knee replacement market is on an upward trajectory, influenced by demographic trends, medical advancements, and evolving patient needs. Stakeholders in the healthcare industry, including manufacturers, healthcare providers, and policymakers, should collaborate to address the challenges and opportunities presented by this growing market.