Market Scenario

Australia Hip and knee Implants Market was valued at US$ 552.0 Mn in 2022 and is estimated to reach a valuation of US$ 1,315.05 Mn by 2030 at a CAGR of 11.46% over the forecast period 2023-2030.

The growth in this market is driven by factors such as the aging population and the increasing prevalence of osteoarthritis in Australia. As the population ages, osteoarthritis (OA) becomes more common, leading to a higher demand for hip and knee replacement surgeries. Over 40,000 hip replacement surgeries are performed each year in Australia, with 6.3% of patients undergoing revision surgery within 10 years of the procedure. Total knee and hip replacement are considered to be among the safest and most reliable surgeries in orthopedics and all surgical subspecialties.

To Get more Insights,  Request A Free Sample 

MARKET DYNAMICS

Drivers

Rise in Aging Population in Australia

The Australia hip and knee implants market is experiencing a significant surge in demand due to the rising aging population in the country. As the population ages, the prevalence of joint degeneration increases, leading to an increased need for hip and knee implants. The demand for knee replacement surgeries will also rise as the patient population expands.

According to a report by the Australian Bureau of Statistics, as of June 2020, there were an estimated 4.2 million people, or approximately 16% of Australia's total population, aged 65 and over. This number is expected to continue to rise in the Australia hip and knee implants market, with projections indicating that between 21% and 23% of Australia's population will be above the age of 65 by 2066. The aging population is a major driving force behind the growth of the Australia hip and knee implants market, as it creates a greater need for these medical devices.

Increasing Prevalence of Osteoarthritis in Australia 

Osteoarthritis (OA) is the most prevalent degenerative condition in Australia, leading to an increasing number of hip and knee replacement surgeries every year. OA is a chronic ailment that can worsen over time, and currently, around 20,000 knee and 19,000 hip replacements surgeries take place annually in the country due to this condition.

Several factors are driving this trend in the Australia hip and knee implants market, including an aging population, obesity, and injury. Additionally, there is an increasing expectation for improved quality of life, and advances in surgical and anesthetic techniques have made total joint replacement surgery more accessible to a wider range of patients.

This presents a significant opportunity for the hip and knee implants market in Australia, as the prevalence of osteoarthritis and the need for total joint replacement surgery are likely to continue to rise in the coming years. As a consultant, it is important to take these trends into consideration when advising clients in the healthcare industry, as they will likely have a significant impact on the market for hip and knee implants in Australia.

Restraint

Defects Associated with Hip and Knee Implants

The Australia hip and knee implants market faces a significant challenge in the form of complications associated with the use of these devices. As the acceptance of replacement surgeries continues to rise, the potential for negative effects from defective implants becomes a growing concern. 

According to experts, between 1% and 2% of patients who receive hip replacements may develop an infection. This risk is further increased by certain underlying health conditions such as obesity, diabetes, anemia, and inflammatory diseases such as rheumatoid arthritis, sickle cell anemia, and blood clotting disorders. While the risk of infection decreases as surgical wounds heal, it never fully goes away.

To mitigate this risk, patients are often advised to take antibiotics prior to invasive surgery to prevent potential bacterial infections from spreading to the implant. As a market participant in the Australia hip and knee implants market, it is important to be aware of these challenges and to work to address them through the development of safer and more reliable implant technologies.

Market Segmentation

The Australia hip and knee implants market is projected to experience significant growth in the coming years, driven by factors such as the rise in aging population and increasing prevalence of osteoarthritis in the country. The market is expected to register a CAGR of 11.46% during the forecast period 2022-2030.

Procedure Type:

Procedure type analysis shows that the primary implant segment is estimated to dominate the hip and knee implants market, accounting for 74.6% of the market share in 2022. This segment is projected to observe growth with a CAGR of 12% during the forecast period.

 To Understand More About this Research:  Request A Free Sample 

Material:

In terms of material type, polyethylene is the most commonly used material in Australia hip and knee implants market, accounting for 40.4% of the market share in 2022. This segment is projected to grow at the highest CAGR of 13% during the forecast period.

End User:

On the basis of end user, hospitals dominate the market, accounting for 66% of the market share in 2022. The hospital segment is projected to grow at the highest CAGR of 12.3% during the forecast period.

Sales Channel:

In terms of sales channel, the direct channel segment held a dominant share of 60% in the Australia hip and knee implants market in 2022 and is estimated to grow at the highest CAGR of 12% during the forecast period.

Top Players in Australia Hip & Knee Implants Market:

The four major players namely Zimmer Biomet, Stryker Corporation, Smith & Nephew and B. Braun Melsungen are holding over 56% revenue share of the Australia hip and knee implants market. 

List of Key Companies Profiled:

• Arthrex, Inc
• B. Braun Melsungen
• ConforMIS
• Corentec Co., Ltd.
• Corin Group
• DJO Global LLC
• Elite Surgical
• Exactech, Inc
• GROUP FH ORTHO communication
• Johnson & Johnson Services, Inc
• KYOCERA Medical Technologies, Inc
• Stryker Corporation
• Zimmer Biomet
• Other Prominent Players

Recent Developments by Players 

• Conformis, Inc. has received approval from the Therapeutic Goods Administration for its iTotal PS system, a knee replacement system that is customized to fit each patient's unique anatomy using Conformis' proprietary iFit Image-to-Implant technology.
• Corin Group, a pioneer in orthopedic innovation in Australia hip and knee implants market, offers clinically tested and world-class technologies for ankle, knee, shoulder, and hip solutions. The company has recently reinforced its position as a global leader in the hip and knee joint replacement market with the acquisition of Global Orthopaedic Technology Pty Ltd.
• DePuy Synthes, a division of Johnson & Johnson, has announced a partnership with Australian start-up Navbit, an innovator and manufacturer of surgical technology. The partnership will launch Navbit Sprint, a smart sensor navigation system that assists surgeons during hip replacement surgeries, making the procedure more precise and efficient.

Segmentation Overview

The Australia hip and knee implants market is segmented as follows:

By Procedure Type

• Primary Implant
• Partial/Unicompartmental implant
• Revision implant

By Material 

• Metal
• Ceramic
• Polyethylene

By End User

• Hospitals
• Specialized Orthopedic Clinics
• Others

By Sales Channel

• Direct Channel
• Distribution Channel
• Others