South Korea Knee Replacement Market Overview
As per MRFR analysis, the South Korea Knee Replacement Market Size was estimated at 242.75 (USD Million) in 2023. The South Korea Knee Replacement Market Industry is expected to grow from 274.5(USD Million) in 2024 to 932.0 (USD Million) by 2035. The South Korea Knee Replacement Market CAGR (growth rate) is expected to be around 11.754% during the forecast period (2025 - 2035).
Key South Korea Knee Replacement Market Trends Highlighted
The South Korea Knee Replacement Market is characterized by significant trends driven by an aging population, increasing prevalence of knee-related disorders, and advancements in medical technology. One key market driver is the growing number of individuals aged 65 and above, as reported by the South Korean government, which leads to higher incidences of osteoarthritis and other degenerative knee conditions.
This demographic shift is prompting healthcare systems to prioritize knee replacement surgeries, reflecting a broader focus on improving the quality of life for older adults. Opportunities to be explored include the shift towards minimally invasive surgical techniques, which are gaining traction in South Korea.These techniques help patients recover quicker with shorter hospital visits and experience less pain after surgery in comparison to traditional methods.
This is in line with the growing need for quality and speedy care within the country and region. In the same way, local firms are shifting their focus towards developing new advertising implant technologies that improve the market as a whole. Research suggests that recently, there has been an increase in the population's knowledge of their knees and the need for timely action concerning them. There is a low chance that with the rise in a patient’s knowledge there could be an increase in patients who wish to undergo knee replacement surgeries.
Moreover, the South Korean government is expected to positively affect the market with its actions to upgrade and make more accessible healthcare services and infrastructure for orthopedic procedures. In general, the South Korea knee replacement market is changing for the better along with the technology advancement and the needs of the older citizens.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
South Korea Knee Replacement Market Drivers
Increasing Aging Population
The South Korea Knee Replacement Market Industry is witnessing a significant growth driven by the increasing aging population within the country. According to Statistics Korea, as of 2022, approximately 16.5% of the South Korean population was aged 65 and older, and this percentage is projected to increase to around 24.3% by 2035. An aging population typically corresponds to a higher prevalence of osteoporosis and arthritis, two leading conditions contributing to knee replacements.The Korean Society of Orthopaedic Surgery has highlighted that nearly 60% of knee replacement patients are older adults, further emphasizing the demand for knee replacement surgeries. The government’s healthcare policies aimed at providing better access to orthopedic services for older citizens are also expected to spur market growth, making the aging demographic a pivotal driver in the South Korea Knee Replacement Market Industry.
Technological Advancements in Surgical Procedures
Technological advancements in surgical techniques and prosthetic devices are another crucial driver for the South Korea Knee Replacement Market Industry. Innovations such as minimally invasive surgeries, robotic-assisted surgeries, and 3D printing of customized implants have improved surgical outcomes and reduced recovery times. The Korean Advanced Institute of Science and Technology (KAIST) has been at the forefront of developing robotic systems that enhance precision in knee surgeries.According to recent studies, these advancements have been shown to improve patient satisfaction scores by up to 30%, thereby influencing more patients to opt for knee replacement surgeries. As hospitals in South Korea adopt these cutting-edge technologies, the market is expected to gain momentum.
Rising Obesity Rates
The increasing rates of obesity in South Korea serve as a significant driver of the knee replacement market. The Korean Ministry of Health and Welfare reported that the obesity rate among adults has shown a steady rise, reaching 37.6% in 2020 from 30.1% in 2000. Obesity is known to be a critical risk factor for various musculoskeletal disorders, including knee osteoarthritis, which often leads to an increased demand for knee replacements. Moreover, organizations like the Korean Obesity Society have pointed out that as obesity-related health issues become more prevalent, the healthcare system will need to address the growing number of surgical interventions required for these patients.This trend showcases the correlation between rising obesity and the subsequent rise in knee replacement procedures, making it a compelling driver in the South Korea Knee Replacement Market Industry.
South Korea Knee Replacement Market Segment Insights
Knee Replacement Market End User Insights
The End User segment of the South Korea Knee Replacement Market is characterized by diverse settings that cater to the growing demand for knee replacement surgeries due to an aging population and rising incidence of osteoarthritis. Among these, Clinics and Hospitals play a crucial role, as they provide essential surgical services and are often equipped with advanced technologies for knee procedures, thereby allowing more patients to access care. They are significant as they handle a large volume of surgeries, providing both inpatient and outpatient services that contribute dynamically to the market's growth.
Rehabilitation Centres are also vital in the recovery phase post-surgery, emphasizing the importance of physical therapy in optimizing patient outcomes after knee replacements. These centers focus on rehabilitation programs tailored to individual needs, ensuring that patients regain mobility and strength efficiently. Specialty Centres, on the other hand, provide targeted, expert care in orthopedic procedures, which represents an increasing trend toward specialization in medicine. This segment helps in addressing specific patient concerns and complexities associated with knee surgeries, thereby enhancing patient satisfaction and overall recovery quality.
The continuous advancements in medical technology, coupled with increasing awareness about the benefits of early intervention for knee issues, powerfully propel this market segment. Each of these settings brings unique strengths, and together, they enhance the overall landscape of the South Korea Knee Replacement Market by ensuring comprehensive patient care across various stages, from diagnosis to recovery and rehabilitation, thus contributing to market growth and improved patient outcomes. The market segmentation reveals how the collaboration among different types of facilities will dictate the future trends in knee replacement procedures within South Korea, addressing not only the need for surgical innovations but also for integrated care models that improve long-term health results.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Knee Replacement Market Product Type Insights
The South Korea Knee Replacement Market presents a diversified landscape characterized by various product types, each contributing uniquely to the overall industry dynamics. Among these, Partial Knee Reconstructive Implants serve a significant purpose by allowing surgeons to target specific areas of damage while preserving healthy bone, which promotes quicker recovery for patients. Total Knee Reconstructive Implants dominate the market due to their widespread use in treating severe arthritis and knee injuries, offering patients enhanced mobility and improved quality of life.
The Medical Pivot Implants segment is emerging, focusing on providing stability and enabling better joint alignment for patients. Fixed-bearing implants are recognized for their reliability and have found a solid customer base, particularly among older patients. On the other hand, Revision Knee Reconstructive Implants play a crucial role in managing complications from prior surgeries, addressing the needs of patients who require additional procedures. Mobile Bearing Implants are also gaining traction as they provide an improved range of motion and longevity, appealing to more active patients.Other innovative product types are continually entering the market, driven by technological advancements and changing patient needs, contributing to the overall positive growth trajectory of the South Korea Knee Replacement Market industry.
Knee Replacement Market Materials Insights
The South Korea Knee Replacement Market focuses heavily on Materials, with a variety of options playing crucial roles in enhancing surgical outcomes and patient satisfaction. Metal alloys are often favored for their strength and durability, providing a reliable option in knee prosthesis designs that require longevity and resistance to wear. Ceramic materials are increasingly gaining traction due to their biocompatibility and lower friction properties, which can significantly reduce wear and increase the lifespan of implants. Substantial plastic parts are essential for their lightweight characteristics and customization capabilities, ensuring patients can achieve better mobility without compromising on strength.
The dynamic landscape is supported by a growing elderly population in South Korea, driving the demand for knee replacements making the exploration into innovative materials vital for addressing future healthcare needs. The ongoing advancements in materials technology present substantial opportunities for manufacturers, contributing to improved South Korea Knee Replacement Market revenue as they aim to meet the rising expectations for implant performance and longevity within this specialized industry.
South Korea Knee Replacement Market Key Players and Competitive Insights
The South Korea Knee Replacement Market is characterized by a dynamic competitive landscape driven by advances in medical technology, a growing geriatric population, and an increasing prevalence of knee-related disorders. As the demand for joint replacement surgeries rises, numerous players are vying for market share, each bringing their innovations and strategies to cater to healthcare providers and patients alike. This market exhibits a range of competitive dynamics influenced by factors such as product innovation, pricing strategies, distribution channels, and partnerships with healthcare institutions, establishing a robust framework for performance evaluation among competitors.
In addition to the focus on high-quality implants and surgical techniques, companies are also emphasizing patient outcomes and overall satisfaction to differentiate themselves in this evolving marketplace.Hana Healthcare has established a notable presence in the South Korea Knee Replacement Market by leveraging its extensive research capabilities and commitment to advancing orthopedic care. Known for its focus on developing innovative products tailored to patient needs, Hana Healthcare has been successful in garnering trust from both physicians and patients. The company excels in providing comprehensive support and training for medical professionals, which enhances the adoption of knee replacement technologies.
With a strong emphasis on quality and reliability, Hana Healthcare's reputation has been fortified through collaborations with leading hospitals and clinics across South Korea, ensuring that they remain a prominent competitor in the market landscape.Exactech, a recognized name in the orthopedic implant sector, has made significant inroads in the South Korea Knee Replacement Market by offering a diverse portfolio of products that are tailored to the unique demands of knee replacement surgeries. The company provides a range of knee systems that focus on improving surgical outcomes and enhancing patient recovery processes, reflecting a strong dedication to innovation.
Exactech's presence is bolstered by strategic partnerships and collaborations with healthcare providers, as well as ongoing investments in research and development to push the boundaries of orthopedic technology. Additionally, through acquisitions, Exactech has expanded its product offerings and strengthened its market position, allowing for a broader reach within the South Korean healthcare market. Their commitment to superior product quality, alongside effective marketing strategies and strong customer relationships, places Exactech in a strong competitive position as a leader in knee replacement solutions within South Korea.
Key Companies in the South Korea Knee Replacement Market Include
- Hana Healthcare
- Exactech
- Aesculap Implant Systems
- Stryker
- MediCure
- B. Braun
- Zimmer Biomet
- Ottobock
- Conmed
- Smith and Nephew
- Medtronic
- Wright Medical Group
- DePuy Synthes
South Korea Knee Replacement Market Industry Developments
The South Korea Knee Replacement Market has seen significant developments in recent months. In October 2023, Stryker announced an investment in advanced robotic-assisted surgery technologies, further solidifying its presence in the region. Demand for knee replacement procedures is rising due to an aging population, leading to increased revenue for companies like Zimmer Biomet and Medtronic. Recent market analysis highlighted that Hana Healthcare and Exactech are expanding their portfolios, focusing on innovative implant designs and biocompatible materials.
In September 2022, a merger was executed between Conmed and a local entity to increase market penetration in South Korea, aimed at enhancing surgical offerings. The South Korean government is also allocating resources to improve healthcare infrastructure, which will likely boost the orthopedic device market. B. Braun and Aesculap Implant Systems are actively collaborating on educational programs for orthopedic surgeons, enhancing their competitive edge. Notably, market growth is anticipated to reach a valuation of approximately $1.3 billion by 2025, driven by technological advancements and increasing healthcare awareness among patients. This positive outlook is indicative of a vibrant and evolving landscape in South Korea's knee replacement market.
South Korea Knee Replacement Market Segmentation Insights
Knee Replacement Market End User Outlook
- Clinics and Hospitals
- Rehabilitation Centres
- Specialty Centres
Knee Replacement Market Product Type Outlook
- Partial Knee Reconstructive Implants
- Total Knee Reconstructive Implants
- Medical Pivot Implants
- Fixed Bearing Implants
Revision Knee Reconstructive Implants
- Mobile Bearing Implants
- Others
Knee Replacement Market Materials Outlook
- Metal Alloy
- Ceramic Material
- Strong Plastic Parts
| Report Attribute/Metric Source: |
Details |
| MARKET SIZE 2018 |
242.75(USD Million) |
| MARKET SIZE 2024 |
274.5(USD Million) |
| MARKET SIZE 2035 |
932.0(USD Million) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) |
11.754% (2025 - 2035) |
| REPORT COVERAGE |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR |
2024 |
| MARKET FORECAST PERIOD |
2025 - 2035 |
| HISTORICAL DATA |
2019 - 2024 |
| MARKET FORECAST UNITS |
USD Million |
| KEY COMPANIES PROFILED |
Hana Healthcare, Exactech, Aesculap Implant Systems, Stryker, MediCure, B. Braun, Zimmer Biomet, Ottobock, Conmed, Smith and Nephew, Medtronic, Wright Medical Group, DePuy Synthes |
| SEGMENTS COVERED |
End User, Product Type, Materials |
| KEY MARKET OPPORTUNITIES |
Aging population demand, Advanced surgical technologies, Expanding outpatient services, Rising prevalence of knee disorders, Increased healthcare expenditure |
| KEY MARKET DYNAMICS |
aging population, increasing obesity rates, advancements in surgical technology, high healthcare expenditure, strong demand for minimally invasive procedures |
| COUNTRIES COVERED |
South Korea |
Frequently Asked Questions (FAQ) :
The South Korea Knee Replacement Market is expected to be valued at 274.5 USD million in 2024.
The market is expected to exhibit a compound annual growth rate (CAGR) of 11.754% from 2025 to 2035.
By 2035, the South Korea Knee Replacement Market is projected to reach a valuation of 932.0 USD million.
Prominent players include Stryker, Zimmer Biomet, and Smith and Nephew among others.
In 2024, the market size for Clinics and Hospitals is valued at 150.0 USD million.
The market for Rehabilitation Centres is anticipated to be valued at 250.0 USD million by 2035.
The Specialty Centres sector is expected to be valued at 54.5 USD million in 2024.
By 2035, Clinics and Hospitals are expected to reach a market valuation of 537.0 USD million.
The growing elderly population and increasing incidence of knee-related disorders present significant opportunities.
The demand for advanced knee replacement solutions is driving consistent growth in the market.
