The global orthopedic joint replacement market size was estimated to be USD 22.46 billion in 2023 and is expected to reach at USD 52.16 billion by 2034 with a CAGR of 7.96% during the forecast period 2024-2034. The demand for personalized joint implants is on the rise for both males and females. Major medical device companies are actively employing advanced technologies to produce orthopedic implants tailored to individual patients. The introduction of 3D printing technology for manufacturing orthopedic implants has gained momentum, leading to an increased demand for customized implants. The adoption of surgical robots in the orthopedic field has enhanced the efficiency of surgical procedures, prompting many hospitals to provide robotic surgeries for treating various orthopedic diseases. Additionally, numerous manufacturers are concentrating on the development of surgical robots that can be utilized in spinal fusion surgeries alongside the company's implants and navigation tools. Rising introduction of advanced orthopedic joint replacement systems is the major factor driving the market growth.
Rising introduction of advanced orthopedic joint replacement systems is predicted to boost the market growth during the forecast period. In the field of orthopedic joint replacement, there is a notable emergence of various online tools that guide patients through their surgeries, facilitate communication with orthopedic surgeons, and offer information on post-surgery rehabilitation. For instance, in November 2022, ConforMIS Inc. launched the Imprint Knee System in the United States, and concurrently introduced a product category option called "Made-to-Measure" for Total Knee Arthroplasty (TKA).
By product, knee was the highest revenue-grossing segment in the global orthopedic joint replacement market in 2023 owing to increase in the frequency of knee replacement procedures, encompassing total knee replacement surgeries and robot-assisted knee replacement procedures. This surge is attributed to the growing incidence of chronic knee-related diseases and the introduction of new products by key market players. For instance, in January 2022, The ORIGIN CR Total Knee System, developed by Symbios Orthopédie S.A., allows surgeons to execute customized knee replacement surgery while maintaining the integrity of the posterior cruciate ligament (PCL). Additionally, shoulder is predicted to grow at fastest CAGR during the forecast period owing to the manufacturers are increasingly directing their attention to shoulder implants, leading to a rise in the number of performed shoulder replacement surgeries.
By procedure, total replacement was the highest revenue-grossing segment in the global orthopedic joint replacement market in 2023 owing to a greater variety of product offerings available for total orthopedic joint replacement procedures compared to those for partial, reverse, or revision replacements and rising launch of advanced products. For instance, in July 2022, Enovis unveiled ARVIS, a self-contained surgical guidance device designed for orthopedic navigation. This wearable device incorporates Augmented Reality (AR) visualization and information systems, providing surgeons with precise guidance visualization. Additionally, partial replacement is predicted to grow at fastest CAGR during the forecast period owing to the rising inclination toward partial replacement as opposed to total replacement among both patients and healthcare providers.
By end-user, hospital & ASC was the highest revenue-grossing segment in the global orthopedic joint replacement market in 2023 owing to the increasing incidence of hip implant surgeries conducted in these facilities, growing trend of collaborations between hospitals & industry players to develop advanced surgical procedures, increasing amount of joint replacement operations carried out by ASCs, and hospitals are typically equipped with state-of-the-art technologies and proficient healthcare professionals. For instance, in October 2023, The Apollo Institute of Orthopedics successfully conducted 370 robotic knee replacement procedures within a span of 10 months following the initiation of these surgeries in January 2022. Additionally, orthopedic clinics is predicted to grow at fastest CAGR during the forecast period owing to the growing number of orthopedic clinics in places with restricted access to healthcare facilities.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing patient awareness about technologically advanced orthopedic implants and emerging treatment options, a rising demand for hip replacement surgeries, an increase in healthcare expenditure and surge in initiatives by major market players. For instance, in March 2023, Smith+Nephew, the global medical technology company, introduces "Precision in Motion," a comprehensive value proposition across its Orthopaedics business, encompassing Robotics, Knee, and Hip portfolios. This initiative underscores Smith+Nephew's dedication to providing an unwavering commitment to freedom of movement, with a focus on three essential elements - personalizing surgery, enhancing efficiency, and optimizing performance. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising incidence of osteoarthritis, an increasing demand for orthopedic joint replacement implants, a growing healthcare expenditure, a surge in technological advancements, and an expanding adoption of advanced products. For instance, in February 2023, Criticare Asia Hospital in Mumbai, India, has achieved a milestone by successfully conducting the first partial knee replacement surgery utilizing fully automated robotic arm technology.
Rising introduction of advanced orthopedic joint replacement systems is predicted to boost the market growth during the forecast period. In the field of orthopedic joint replacement, there is a notable emergence of various online tools that guide patients through their surgeries, facilitate communication with orthopedic surgeons, and offer information on post-surgery rehabilitation. For instance, in November 2022, ConforMIS Inc. launched the Imprint Knee System in the United States, and concurrently introduced a product category option called "Made-to-Measure" for Total Knee Arthroplasty (TKA).
By product, knee was the highest revenue-grossing segment in the global orthopedic joint replacement market in 2023 owing to increase in the frequency of knee replacement procedures, encompassing total knee replacement surgeries and robot-assisted knee replacement procedures. This surge is attributed to the growing incidence of chronic knee-related diseases and the introduction of new products by key market players. For instance, in January 2022, The ORIGIN CR Total Knee System, developed by Symbios Orthopédie S.A., allows surgeons to execute customized knee replacement surgery while maintaining the integrity of the posterior cruciate ligament (PCL). Additionally, shoulder is predicted to grow at fastest CAGR during the forecast period owing to the manufacturers are increasingly directing their attention to shoulder implants, leading to a rise in the number of performed shoulder replacement surgeries.
By procedure, total replacement was the highest revenue-grossing segment in the global orthopedic joint replacement market in 2023 owing to a greater variety of product offerings available for total orthopedic joint replacement procedures compared to those for partial, reverse, or revision replacements and rising launch of advanced products. For instance, in July 2022, Enovis unveiled ARVIS, a self-contained surgical guidance device designed for orthopedic navigation. This wearable device incorporates Augmented Reality (AR) visualization and information systems, providing surgeons with precise guidance visualization. Additionally, partial replacement is predicted to grow at fastest CAGR during the forecast period owing to the rising inclination toward partial replacement as opposed to total replacement among both patients and healthcare providers.
By end-user, hospital & ASC was the highest revenue-grossing segment in the global orthopedic joint replacement market in 2023 owing to the increasing incidence of hip implant surgeries conducted in these facilities, growing trend of collaborations between hospitals & industry players to develop advanced surgical procedures, increasing amount of joint replacement operations carried out by ASCs, and hospitals are typically equipped with state-of-the-art technologies and proficient healthcare professionals. For instance, in October 2023, The Apollo Institute of Orthopedics successfully conducted 370 robotic knee replacement procedures within a span of 10 months following the initiation of these surgeries in January 2022. Additionally, orthopedic clinics is predicted to grow at fastest CAGR during the forecast period owing to the growing number of orthopedic clinics in places with restricted access to healthcare facilities.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing patient awareness about technologically advanced orthopedic implants and emerging treatment options, a rising demand for hip replacement surgeries, an increase in healthcare expenditure and surge in initiatives by major market players. For instance, in March 2023, Smith+Nephew, the global medical technology company, introduces "Precision in Motion," a comprehensive value proposition across its Orthopaedics business, encompassing Robotics, Knee, and Hip portfolios. This initiative underscores Smith+Nephew's dedication to providing an unwavering commitment to freedom of movement, with a focus on three essential elements - personalizing surgery, enhancing efficiency, and optimizing performance. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising incidence of osteoarthritis, an increasing demand for orthopedic joint replacement implants, a growing healthcare expenditure, a surge in technological advancements, and an expanding adoption of advanced products. For instance, in February 2023, Criticare Asia Hospital in Mumbai, India, has achieved a milestone by successfully conducting the first partial knee replacement surgery utilizing fully automated robotic arm technology.
Segmentation: Orthopedic Joint Replacement Market Report 2023 - 2034
Orthopedic Joint Replacement Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Shoulder
- Knee
- Ankle
- Hip
- Others
Orthopedic Joint Replacement Market Analysis & Forecast by Procedure 2023 - 2034 (Revenue USD Bn)
- Partial Replacement
- Total Replacement
- Others
Orthopedic Joint Replacement Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Orthopedic Clinics
- Hospitals & Ascs
- Others
Orthopedic Joint Replacement Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Orthopedic Joint Replacement Market: Product Estimates & Trend Analysis
8. Orthopedic Joint Replacement Market: Procedure Estimates & Trend Analysis
9. Orthopedic Joint Replacement Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Orthopedic Joint Replacement Market
12. Europe Global Orthopedic Joint Replacement Market
13. Asia Pacific Global Orthopedic Joint Replacement Market
14. Latin America Global Orthopedic Joint Replacement Market
15. MEA Global Orthopedic Joint Replacement Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Stryker
- Zimmer Biomet
- Enovis
- Smith + Nephew
- Conformis
- Bioimpianti
- B. Braun Melsungen AG
- MicroPort Scientific Corporation
- Johnson & Johnson Services Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 22.46 Billion |
| Forecasted Market Value ( USD | $ 52.16 Billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
