From what I understand, demand paging is basically paging with swapping, so you can swap in a page when it is needed. But page replacement seems like more or less the same thing, where you bring in a page is needed and switching it with an existing page in physical memory.
So is there a distinct difference?
In a system that uses demand paging, the operating system copies a disk page into physical memory only if an attempt is made to access it and that page is not already in memory (i.e., if a page fault occurs). It follows that a process begins execution with none of its pages in physical memory, and many page faults will occur until most of a process's working set of pages is located in physical memory. This is an example of a lazy loading technique.
From Wikipedia's Demand paging:
Whereas, page replacement is simply the technique which is done when there occurs a page-fault. Page replacement is a technique which is utilised for both pure swapping and demand-paging.