In 2022, the total market size of artificial knee joints in Korea is estimated to be approximately ***USD (manufacturers/importers' initial selling prices) and ***USD (medical institutions' purchase prices).

Afterwards, it is expected to maintain an average annual growth rate of ***% for the next five years and as a result, the market size is projected to be approximately ***USD (manufacturers/importers' initial selling prices) and ***USD (medical institutions' purchase prices).

Artificial knee joints are broadly divided into (1)Femoral component, (2)Tibial component, (3)Bearing insert, and (4)Spacer(patella). All therapeutic materials are divided into products for total replacement, partial replacement, and revision, and are specifically classified according to the polyethylene cross-linking process.

The number of products approved by the Ministry of Food and Drug Safety as artificial knee joint-related products in Korea is *** as of March 2023, exlusing those for export. Among them, the number of products registered with the National Health Insurance is *** as of June 2023, which is approximately *** times more than the number of products approved by the MFDS (excluding those for export). Artificial knee joints are usually approved as one component group combined together but announced seperately as each individual component for reimbursement notice. Therefore, it is necessary to be careful when understanding the data.

Typical materials for artificial knee joints include stainless steel, titanium, cobalt chrome, and oxinium and cobalt chrome alloy, titanium, and oxinium are used in a high proportion. There is a clinical result that titanium shows a high wear rate, and oxinium is anticipated to have difficulties in expanding in Korea due to price factors.

In 2022, medical institutions made approximately ***USD for artificial knee joint claims to the National Health Insurance Reimbursement (See Appendix 1 for the list of products included for market estimation). This amount is the result of an average annual increase of ***% for the past five years from approximately ***USD in 2018.

Among the major components of artificial knee Joints, a femoral component is an essential therapeutic material for knee replacement and the reimbursement amount in 2022 is approximately ***USD (***%). This is an average annual growth rate of ***% compared to approximately
***USD in 2018, with the highest reimbursement amount for general type approximately ***USD (***%), and then modular type approximately ***USD (***%) and partial replacement type approximately ***USD (***%).

More than ***% of artificial knee joints are consumed at hospital-level medical institutions. In 2022, out of the total reimbursement volume of ***USD by end-user type, hospitals accounted for about ***USD (***%), general hospitals about ***USD(***%), and tertiary hospitals about ***USD (***%). The average annual growth rates from 2018 to 2022 of clinics and tertiary hospitals are ***% and
***% respectively, showing strong growth.

The market share of the major suppliers in the artificial knee joint market is estimated as follows: Zimmer Biomet (***%), Stryker (***%), Smith and Nephew (***%), the others (***%), Corentec (***%), and Johnson & Johnson Medtech (***%). The top two suppliers (Zimmer Biomet and Stryker) are thought to have approximately ***% of the entire market and the other suppliers seem to account for the rest of the market.

The artificial knee joint market is expected to continue to grow at an average annual rate of ***% over the next five years driven by increasing healthcare spending, competition for more hospital beds, aging population, increasing life expectancy, and increasing prevalence of joint diseases (See Chapter 5.3 for more details).

For artificial knee joints, there is little technological development in terms of materials and designs.
However, medical devices trying to improve the accuracy and safety of procedures and the convenience and performance of surgical instruments are being released, e.g. (1)patient-customized surgical instruments using 3D printing and (2)robotic-assisted surgical devices. The changes in the artificial knee joint market competition are expected to be made.

Chapter 1 Introduction
   1.1 Purpose
   1.2 Suggestions for Best Use
   1.3 Scope
   1.4 Research Methods
      1.4.1 Desk Research
      1.4.2 Primary Research
   1.5 Analytic and Projection Methods of Market Size
      1.5.1 Data Sources
      1.5.2 Exchange Rate
      1.5.3 Market Size Estimation Methods

Chapter 2 Executive Summary

Chapter 3 Market Overview
   3.1 Market Size at Manufacturers/Importers' Initial Selling Prices
      3.1.1 Five-Year Forecast of Market Size
   3.2 Market Size at Medical Institutions' Purchase Prices
      3.2.1 Reimbursement Volume of Artificial Knee Joints
         3.2.1.1 Reimbursement Volume by Main Component
         3.2.1.2 Reimbursement Volume by End-User Type

Chapter 4 Major Suppliers
   4.1 Zimmer Biomet
   4.2 Stryker
   4.3 Smith&+Nephew
   4.4 Corentec
   4.5 Johnson & Johnson Medtech
   4.6 implantcast Asia
   4.7 Celllumed
   4.8 Lima Corporate

Chapter 5 Market Dynamics
   5.1 Impact of COVID-19
   5.2 Characteristics of Healthcare Market in Korea
      5.2.1 History of Artificial Knee Joints
      5.2.2 Change History of Reimbursement Environment
      5.2.3 Determination Criteria for Reimbursement vs. Non-Reimbursement
   5.3 Key Indicators of Artificial Knee Joints Market
      5.3.1 Rising Costs and Competition for More Beds
      5.3.2 Aging Population
      5.3.3 Number of Orthopedic Cases and Professionals
      5.3.4 Prevalence of Joint Diseases
         5.3.4.1 Arthropathy
         5.3.4.2 Degenerative Arthropathy
         5.3.4.3 Rheumatoid Arthritis
      5.3.5 Current Status of Artificial Knee Replacement Procedures
         5.3.5.1 Total Knee Replacement
         5.3.5.2 Partial Knee Replacement
         5.3.5.3 Revisions
   5.4 Market Drivers
      5.4.1 Demand
      5.4.2 Increase in Number of Supliers
   5.5 Market Opportunities
      5.5.1 Increase in Demand with Aging Population
      5.5.2 Increase in Prevalence of Obesity
      5.5.3 Increase in Population of Everyday Physical Activities
      5.5.4 Increase in Joint Specialty Hospitals
      5.5.5 Increase in Robotic Orthopedic Surgery
      5.5.6 Sales Growth Through Export
   5.6 Market Challenges
      5.6.1 Prevention of Joint Diseases and Advancement of Early Interventions
      5.6.2 Reimbursement Pricing Scheme of National Health Insurance
      5.6.3 Introduction of Medical Device Tracking to Orthopedic Implants
   5.7 Unmet Needs

Appendix 1 Major Products Included in This Report for Market Estimation (As of 01 June 2023)
Appendix 2 The 4th Designation of Joint Specialty Hospital

[Table 1] Classification of Artificial Knee Joints Approval
[Table 2] Market Size of Initial Selling Price 2018-2022 (in USD)
[Table 3] Five-Year Forecast of Market Size 2022-2026 (in USD)
[Table 4] Reimbursement Volume of Artificial Knee Joints 2018-2022
[Table 5] Reimbursement Volume of Artificial Knee Joint Component 2018-2022 – Femoral Component
[Table 6] Reimbursement Volume of Artificial Knee Joint Component 2018-2022 - Bearing Insert
[Table 7] Reimbursement Volume of Artificial Knee Joint Component 2018-2022 - Spacer (Patella)
[Table 8] Reimbursement Volume of Artificial Knee Joints by End-User Type 2018-2022
[Table 9] Number of Artificial Knee Joint Product Approval (as of 24 March 2023)
[Table 10] Number of Artificial Knee Joint Product on the List of National Health Insurance by Product Group (as of 1 June 2023)
[Table 11] Key Brands of Major Companies
[Table 12] Key Brand of Zimmer Biomet - NexGen
[Table 13] NexGen and National Health Insurance
[Table 14] Key Brand of Zimmer Biomet - Persona
[Table 15] Persona and National Health Insurance
[Table 16] Key Brand of Stryker - Triathlon
[Table 17] Triathlon and National Health Insurance
[Table 18] Key Brand of Stryker - X3
[Table 19] X3 and National Health Insurance
[Table 20] Key Brand of Smith+Nephew - Genesis Ⅱ
[Table 21] Genesis Ⅱ and National Health Insurance
[Table 22] Key Brand of Smith+Nephew - Anthem
[Table 23] Anthem and National Health Insurance
[Table 24] Key Brand of Corentec - LOSPA
[Table 25] LOSPA and National Health Insurance
[Table 26] Key Brand of Corentec - Exult
[Table 27] Exult and National Health Insurance
[Table 28] Key Brand of Johnson & Johnson Medtech - LCS
[Table 29] LCS and National Health Insurance
[Table 30] Key Brand of Johnson & Johnson Medtech - PFC Sigma
[Table 31] PFC Sigma and National Health Insurance
[Table 32] Key Brand of Johnson & Johnson Medtech - Attune
[Table 33] Attune and National Health Insurance
[Table 34] Key Brand of Implantcast Asia - ACS
[Table 35] ACS and National Health Insurance
[Table 36] Key Brand of Cellumed - Luminus Flex
[Table 37] Luminus Flex and National Health Insurance
[Table 38] Key Brand of Lima Corporate - Physica
[Table 39] Physica and National Health Insurance
[Table 40] Status of Artificial Knee Replacement Procedures
[Table 41] History of Artificial Knee Replacement Procedures
[Table 42] Classification of Artificial Knee Joints Reimbursement vs. Non-Reimbursement
[Table 43] Determination Criteria for Artificial Knee Joints
[Table 44] Determination Criteria for Complex Artificial Knee Joints
[Table 45] Number of Beds in OECD Countries
[Table 46] Health Spending Comapred to GDP 2021
[Table 47] Estimate of Elderly Population Over 65 Years Old
[Table 48] Orthopedic Treatments 2017-2021
[Table 49] Number of Orthopedic Professionals 2018-2022
[Table 50] Prevalence of Joint-Related Diseases 2017-2021
[Table 51] Prevalence of Arthropathy 2017-2021
[Table 52] Prevalence of Arthropathy by Age Group 2017-2021
[Table 53] Prevalence of Degenerative Arthropathy 2017-2021
[Table 54] Prevalence of Degenerative Arthropathy by Age Group 2017-2021
[Table 55] Prevalence of Rheumatoid Arthritis 2017-2022
[Table 56] Prevalence of Rheumatoid Arthritis by Age Group 2017-2022
[Table 57] Gender Differences in Knee Replacement 2017-2021
[Table 58] Artificial Knee Replacement Procedures for Male Patients by Age Group 2017-2021
[Table 59] Artificial Knee Replacement Procedures for Female Patients by Age Group 2017-2021
[Table 60] Types of Total Knee Replacement Procedures
[Table 61] Total Knee Replacement Treatments 2018-2021
[Table 62] Types of Partial Knee Replacement Procedures
[Table 63] Partial Knee Replacement Treatments 2018-2021
[Table 64] Types of Artificial Knee Replacement Procedures
[Table 65] Artificial Knee Replacement Procedures 2018-2021
[Table 66] Summary of Market Drivers
[Table 67] Changes in Number of Artificial Joint Product Code
[Table 68] Obesity Prevalence 2017-2021
[Table 69] Number of Obesity Patients 2017-2021
[Table 70] Frequency of Everyday Exercises
[Table 71] Experience of Medical Treatment due to Sports Injury
[Table 72] Average Number of Days for Treatment due to Sports Injury
[Table 73] Number of Orthopedic Specialty Hospital (as of December 2022)
[Table 74] Non-Reimbursement List of Robotic-Assisted Joint Replacement Medical Devices
[Table 75] Classification Method of Artificial Knee Joints and Criteria for Maximum Reimbursement (as of 1 June 2023)
[Table 76] Tracking of Artificial Knee Joint Products (as of December 2021)

[Fig 1] Components of Artificial Knee Joints
[Fig 2] Market Size at Initial Selling Prices 2018-2022 (in USD)
[Fig 3] Five-Year Forecast of Market Size 2022-2026 (in USD)
[Fig 4] Market Size at Hospital Acquisition Price (2022)
[Fig 5] Market Size Forecast at Hospital Acquisition Price (2027)
[Fig 6] Reimbursement Volume of Artificial Knee Joints (2018-2022)
[Fig 7] Reimbursement Volume of Artificial Knee Joints by End-User Type 2022 (in USD)
[Fig 8] Reimbursement Volume of Artificial Knee Joints by End-User Type 2018-2022
[Fig 9] Estimated Market Share of Artificial Knee Joint Companies (2022)
[Fig 10] Trend in Healthcare Spending Compared to GDP 2012-2021
[Fig 11] Percentage of Elderly Population (65 years+)
[Fig 12] Number of Orthopedic Treatments 2017-2021 (Unit: 1,000 cases)
[Fig 13] Number of Orthopedic Professionals 2022
[Fig 14] Number of Joint-Related Disease Patients 2017-2021 (Unit: 1,000 persons)
[Fig 15] Number of Arthropathy Patients 2017-2021
[Fig 16] Number of Degenerative Arthropathy Patients 2017-2021
[Fig 17] Number of Rheumatoid Arthritis Patients 2017-2021
[Fig 18] Gender Differences in Knee Replacement 2021
[Fig 19] Estimated Market Share of Robotic-Assisted Joint Replacement 2022

1 Zimmer Biomet
2 Stryker
3 Smith+Nephew
4 Corentec
5 Johnson & Johnson Medtech
6 implantcast Asia
7 Celllumed
8 Lima Corporate