Hip Replacement Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Product Type (Primary Hip Reconstruction Devices, Partial Hip Reconstruction Devices, Revision Hip Reconstruction Devices, Hip Resurfacing Devices) By End User (Hospitals, Ambulatory Care Centers, Orthopedics Clinics, Others) By Region, and Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationHip Replacement Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Product Type (Primary Hip Reconstruction Devices, Partial Hip Reconstruction Devices, Revision Hip Reconstruction Devices, Hip Resurfacing Devices) By End User (Hospitals, Ambulatory Care Centers, Orthopedics Clinics, Others) By Region, and Competition
According to the American Academy of Orthopedic Surgeons, more than 450,000 hip replacement surgeries are performed in the United States each year, making it one of the most popular joint replacement procedures.
According to a report from the Centers for Disease Control and Prevention from August 2021, over 800,000 patients are admitted to hospitals each year as a result of fall injuries, with hip fractures accounting for the majority of these admissions. In addition, hip fractures account for at least 300,000 hospital admissions of elderly patients each year in the United States.
Hip fractures typically occur in older people with osteoporosis because of low-energy trauma, such as falling to the ground. People with rheumatoid arthritis, osteonecrosis, or bone tumors also requires hip replacements to ease discomfort, in addition to those who have osteoarthritis or hip injuries. Hip replacements are also performed to boost mobility and enhance general quality of life. The old population is growing as society ages, and geriatric hip fractures are also gradually rising. A hip fracture in an elderly person is a serious issue that can be fatal. Compared to nonsurgical therapies, surgical interventions can reduce death rates in older patients with hip fractures. Therefore, the market is being driven by an increase in total hip replacement procedures due to the rising occurrence of hip injuries and hip related medical conditions.
Reimbursement Policies
For instance, Johnson & Johnson launched their "India centric" reimbursement policy in November 2018,
Demand for Customized Hip Prostheses and Technological Advancement
For instance, to carry out the first 3D total hip replacement procedures, Conformis, Inc., a medical technology company, teamed up with JFK Medical Center in Florida in August 2018.
The Mako system, an active-constrained system that delivers a 3D plan based on CT scanning to the surgeon so that they can subsequently optimize the intended surgery on that basis, is now the most extensively utilized system for hip arthroplasty.
As demand for customized implants for both men and women increases with the advancement in technology, the market for hip replacement devices is anticipated to expand.
Recent Development
- Medacta has announced anexpansion of their hip revision Portfolio in July 2021. The AMIS(R)-K Long,Iliac Screw Mpact 3D Metal, and 3D Metal(R) B-Cage were used in firstoperations. The M-Vizion Modular Femoral Revision Stem and these components addto the Medacta Hip Revision Platform.
- Zimmer Biomet Holdings,Inc., a pioneer in global medical technology developed the ROSA Hip System whichreceived FDA 510(k) approval for robotically assisted direct anterior total hipreplacement in August 2021.
- Conformis, Inc. and JFKMedical Center in Florida worked together in August 2018 to accomplish thefirst-ever 3D total hip replacement surgery.
- HipAlign, an applicationthat uses smart navigation technology during surgery, was released byOrthoAlign, Inc. in May 2019.
Market Segmentation
Global hip replacement devices market is segmented by product type, end user, regional distribution, and competitional landscape. Based on product type, the market is further fragmented into primary hip reconstruction devices, partial hip reconstruction devices, revision hip reconstruction devices, and hip resurfacing devices. Based on the end user, the market is segmented into hospitals, ambulatory care centers, orthopedics clinics, and others.
Market Players
Attribute | Details |
Base Year | 2022 |
Historical Years | 2018 – 2021 |
Estimated Year | 2023 |
Forecast Period | 2024 – 2028 |
Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2023-2028 |
Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered | Product Type End User |
Regional Scope | North America; Asia Pacific; Europe & CIS; South America; Middle East & Africa |
Country Scope | United States; Canada; Mexico; China; India; Japan; South Korea; Australia; Germany; France; United Kingdom; Spain; Italy; Brazil; Argentina; Colombia; Saudi Arabia; UAE; South Africa; Kuwait |
Key Companies Profiled | Johnson & Johnson (DePuy Synthes), B. Braun Melsungen AG, Stryker Corporation, Zimmer Biomet Holdings Inc, Corin Group, Waldemar LINK GmbH & Co. KG, MicroPort Scientific Corporation, Exactech, Inc., Conformis Inc., OMNIlife Science Inc., DJO Global, Inc., Medtronic, Plc., Arthrex, Inc., Aesculap Implant Systems, Inc., Smith & Nephew plc. |
Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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