The total knee replacement market is slated to witness substantial revenue growth due to the growing number arthritis cases worldwide, ongoing advancements in implants, rising need for revision procedures for failed total knee arthroplasty, and growing adoption of tibial implants in knee replacement procedures.
A total knee replacement is a surgical procedure through which a compromised knee joint is replaced with an artificial joint that makes movement more easy and pain-free for the patient.
The total knee replacement market is segmented in terms of product, device type, component, implant type, design, surgery type, fixation material, material, polyethylene inserts, end-use, and regional landscape.
As per product, the market is classified into partial knee replacement systems, revision knee replacement systems and primary knee replacement systems. Among these, in 2020, the revision knee replacement systems segment held significant share and is expected to grow at fastest rate with 7.5% CAGR over the coming time period. Growing number of knee replacement surgeries and rising need for revision procedures for failed total knee arthroplasty will drive the segment growth.
Based on device type, the market for total knee replacement is categorized into unicompartmental knee implants, bicompartmental knee implants, and three-compartmental knee implants. The unicompartmental knee implants segment was valued $626 million in 2020 and is likely to progress with significant growth over the projected time period. This growth is accredited to the rising preference for partial knee replacement surgery and associated product benefits.
With respect to component, the market is segmented into patellar, tibial, and femoral. Among these, the tibial segment is projected to show around 6.1% CAGR through the analysis timeline. The segment will further exhibit robust growth over the forecast timeline to reach more than $4,773 million by 2027 end. The growing adoption of tibial implants in knee replacement procedures will accelerate the segmental growth.
Talking of implant type, the total knee replacement market is bifurcated into medial pivot implants, mobile-bearing implants, fixed-bearing implants, and others. In 2020, the mobile-bearing implants segment was valued at $1,175 million and is anticipated to expand at 9.9% CAGR over the forecast time period. The segment is attributable to better clinical outcomes due to use of mobile-bearing implants, particularly in the younger patients.
With respect to design, the market is classified into cruciate retaining design, posterior stabilized design and others. In 2020, the cruciate retaining design segment was valued at over $3,071 million and is estimated to witness robust growth owing to numerous advantages such as better knee kinematics, stabilized prosthesis, increased proprioception, and bone preservation.
Based on surgery type, the overall market is divided into technology assisted surgery type and traditional surgery type. Technology assisted surgery type segment was valued at over $900 million in 2020 and will progress at significant growth rate owing to rapid digitization, technological developments coupled with use of robotics in the knee arthroplasty procedures.
As per fixation material, the total knee replacement market is bifurcated into hybrid, cementless, and cemented. In 2020, the cementless segment held a significant share and is slated to grow at a CAGR of 6.6% over the analysis timeline. The segment will further reach more than $1,776 million by the end of 2027. The high segment growth is attributable to presence of highly porous and rough surfaces promoting biologic fixation, bone growth as well as reduction in complications related to cement breakdown.
Talking of material, the market for total knee replacement is categorized into metal-on-metal, ceramic-on-ceramic, ceramic-on-plastic and metal-on-plastic. Back in 2020, the ceramic-on-plastic segment was valued at above $1,605 million and is the fastest growing segment growing at a CAGR of more than 6.1% over the forecast time period. The better viability and lowered wear of implants will fuel the overall market growth.
In terms of polyethylene inserts, the total knee replacement market is classified into antioxidant polyethylene inserts, highly cross-linked polyethylene inserts and conventional polyethylene inserts. Here, the antioxidant polyethylene inserts segment was valued approximately $2,447 million and is likely to grow with 11.9% CAGR over the forecast timeframe owing to better oxidative stability, higher wear resistance as well as mechanical integrity.
With respect to end-use, the overall market is segmented into ambulatory surgery centers, hospitals and others. Ambulatory surgical centers (ASCs) segment is anticipated to progress at 7.5% CAGR and will reach over $1,976 million by the end of the analysis timeline. Rising awareness regarding ASCs, focus on offering same-day surgical procedure and care and access to modern medical devices and equipment are some of the factors influencing the segment growth.
On the regional front, in 2020, total knee replacement market in MEA was valued at more than $157 million. The region is projected to witness more than 8.1% CAGR due to rising awareness regarding knee replacement surgeries across the countries in the region.