The global knee arthroplasty market will grow at a compound annual rate of 5 percent through 2024, according to Market Scope's 2019 Knee Arthroplasty Market Report.
Three key insights:
1. Roughly 40 percent of the global population over the age of 55 experiences chronic knee pain, with 50.8 million suffering from disabling pain and 2.6 million opting for knee replacement surgeries annually.
2. The uptick in knee replacement surgery is due to advanced access to orthopedic care in emerging markets such as China and India, as well as a rising affluent population.
3. The global aging population is also a contributing factor with baby boomers requiring long-term mobility due to their more active lifestyles and longer work careers.