The global market for total knee replacement was valued at $6.3 billion in 2020. The market is expected to grow at a compound annual growth rate of 4.1%, to reach $8.0 billion by 2026.

Total knee replacement is a procedure whereby an artificial joint replaces a damaged knee joint. If a procedure is being performed for the first time on a patient, it is called a primary replacement procedure. Revision procedures are performed once degradation of the joint prostheses or other conditions, such as fracture, cancer, or other causes, has occurred. Generally, 90% to 95% of patients are satisfied with the outcome of their procedure. In some cases, 95% of the knee replacements remain in use after 10 to 15 years post-surgery.