Southeast Asia Hip and Knee Replacement Market

The South East Asia Hip and Knee Replacement Market was estimated at USD 338.5 million in 2020 and is anticipated to reach USD 466.8 million by 2028, expanding at a CAGR of 4.2% during the forecast period. Hip and knee replacement surgeries are becoming popular and effective around the world.

The main symptom of hip and knee replacement or joint replacement operation is osteoarthritis, due to reduced function and quality of life. The hip is one of the major joints in the body. The damaged bone and cartilage are removed and replaced with prosthetic components during hip replacement, also known as hip arthroplasty. Knee replacement surgery is also called knee arthroplasty, and it repairs and replace function in severely diseased knee joints.

Scope of Hip and Knee Replacement Market Report  

The report on the South East Asia Hip and Knee Replacement Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Hip and Knee Replacement Market – South East Asia Industry Analysis, Size, Share, Growth, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	By Types (Hip Systems, Partial Hip Systems, Revision Hip Systems, Total Knee Systems, Partial Knee Systems, And Revision Knee Systems), By End-User (Hospitals & Ambulatory Surgical Centers, Orthopedic Clinics, And Others)
Regional Scope	SEA Country (Thailand, Malaysia, Singapore, Indonesia, Philippines, Vietnam, Hongkong, and Rest of SEA)
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered	Stryker, Zimmer Biomet, Johnson & Johnson Services, Inc., Smith+Nephew, Exactech, Inc., MicroPort Scientific Corporation, B. Braun Melsungen AG, Conformis, Inc., Integra LifeSciences Corporation, and Arthrex, Inc.

Macro-economic Factors

Technological Innovations

Technological advancements include the development of safe and effective hip implants with new technology. Advancements in innovative robotic technology have made implants cost-effective. Companies are focusing on investing in technologically advanced products and product development. These factors are expected to boost technological innovations in the market.

Coronavirus

The global Hip and Knee Replacement Market was negatively impacted by the covid-19, owing to the disturbance in the supply chain and limitations in the cross broader transaction. Globally, governments imposed social distancing, remote working, and economic shutdowns, all of which had a negative impact on the hip & knee implants market.

A large number of cases were canceled due to the COVID-19 outbreak, which results in economic losses for healthcare organizations and had a substantial impact on patients. The rising number of COVID-19 cases caused disruptions in the demand for hip and knee replacements. The increasing elderly population, as well as the rising prevalence of osteoarthritis and rheumatoid arthritis in the elderly population, are projected to fuel the market after recovering from the pandemic situation.

Hip and Knee Replacement Market Dynamics

Market Driver

Growing number of partial replacement surgeries globally

Partial replacement surgeries eliminate damaged tissue and bone in the hip and knee joint. A surgical procedure that replaces only one part of a damaged knee is known as partial knee replacement surgery. A partial hip replacement procedure aids those patients whose hip joints have not been severely injured and the physician only needs to replace the ball of the hip joint with a prosthetic insert. Increasing number of surgeries, due to rising arthritis and osteoarthritis cases among people, is expected to boost partial replacement surgeries.

Market Driver

Increase in prevalence of osteoarthritis & increasing cases of orthopedic injury

Osteoarthritis (OA) is the most prevalent musculoskeletal disorder among the elderly, and women are more likely to be affected by OA than men. Osteoarthritis (OA) of the hip and knee affects 242 million people across the world, reported by WHO.

Osteoarthritis (OA) is a chronic disease that causes the bones to rub together and causes stiffness, pain, and cartilage in joints to deteriorate, & impaired movement. These injuries contain fractures, dislocations, and breaks. Increasing prevalence of osteoarthritis in the coming decades, mainly in emerging countries. These factors are anticipated to drive the market in the coming years.

Market Restraint

Product recall due to mechanical complications

Dislocation arises when the ball of the hip moves from the hip socket. This occurs in less than 2% of patients after surgery. Besides, after sometime the hip replacement components begin to wear or loosen. This is a long-term complication of total hip replacement that arises in some patients. Then company recalled hip implants products.

For instance, DePuy discontinued the products, as a large number of patients required a second hip replacement after the company's implants failed. These factors have an adverse impact on the market.

Market Opportunity

Growing adoption of robot-assisted innovative surgeries

Knee replacement surgery is now more effective with robot-assisted technology, due to medical technology advancements, there are new options for knee replacement surgery. Robot-assisted knee replacement technology aids both the orthopedic surgeon and the patient. It allows for effective and time-saving surgery and reduces pain and blood loss.

Robot-assisted surgery is stimulating development in hip and knee surgery. Which is expected to create immense opportunities for the key players in the market.

Hip and Knee Replacement Market Segmental Outlook

Based on types, the market is segmented into total hip systems, partial hip systems, revision hip systems, total knee systems, partial knee systems, and revision knee systems.

The total knee systems segment accounts for a substantial share of the market and is expected to expand at a significant CAGR during the forecast period, due to total knee arthroplasty is an effective treatment for severe osteoarthritis. For most people, knee replacement naturally leads to less pain, advanced quality of life, and improved mobility. Total knee arthroplasty (TKA) is one of the most money-making procedures.

Based on end-users, the market is fragmented into hospitals & ambulatory surgical centers, orthopedic clinics, and others. The others segment is further split into orthopedics surgery centers, rehabilitation centers, research institutes, and academic institutes.

The orthopedic clinic segment is expected to hold a significant share of the market, owing to the increasing number of private orthopedic clinics. Orthopedics is a medical specialty that focuses on the treatment of the musculoskeletal system, which is expected to propel the segment in the forecast periods.

Hip and Knee Replacement Market Regional Outlook

Based on country, the market is separated into namely, Thailand, Malaysia, Singapore, Indonesia, Philippines, Vietnam, Hongkong, and Rest of SEA. The market in the Philippines held a significant share of the market during the forecast period, as the growing number of elderly people in the Philippines, is expected to boost the market in the Philippines.

The market in Vietnam is expected to grow at a substantial pace during the forecast period, due to rising prevalence of osteoarthritis in Vietnam, it’s about one-third of men and women in Vietnam have osteoarthritis of the knee, which is anticipated to fuel the knee replacement market in Vietnam.

The incidence of diabetes in Cambodia (percentage of the population aged 20 to 79) was 7.3% in 2021, up from 6.4% in 2019. Factors such as the growing aging population, rising prevalence of diabetes, and the country's economy are projected to boost the market in the Rest of SEA.

Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the South East Asia Hip and Knee Replacement Market
• Historical, Current and Projected Market Size in terms of Value
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints, and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on South East Asia Hip and Knee Replacement Market Performance

Segments

Type

• Total Hip Systems
• Partial Hip Systems
• Revision Hip Systems
• Total Knee Systems
• Partial Knee Systems
• Revision Knee Systems

End-user

• Hospitals & Ambulatory Surgical Centers
• Orthopedic Clinics
• Others (Orthopedics Surgery Centers, Rehabilitation Centers, Research Institutes, & Academic Institutes)

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Stryker
• Zimmer Biomet
• Johnson & Johnson Services, Inc.
• Smith+Nephew
• Exactech, Inc.
• MicroPort Scientific Corporation
• B. Braun Melsungen AG
• Conformis, Inc.
• Integra LifeSciences Corporation
• Arthrex, Inc.

Competitive Landscape

• Manufacturers operating in the global Hip and Knee Replacement Market include Stryker, Zimmer Biomet, Johnson & Johnson Services, Inc., Smith+Nephew, Exactech, Inc., MicroPort Scientific Corporation, B. Braun Melsungen AG, Conformis, Inc., Integra LifeSciences Corporation, and Arthrex, Inc.
• Market Players are pursuing key strategies such as acquisitions, collaborations, and geographic expansion where a potential opportunity arises for the Hip and Knee Replacement market.