Global Hip Replacement Market Size By Product (Total Hip, Partial Femoral Head), By Application (Metal-on-Metal, Metal-on-Polyethylene), By End User (Orthopedic Clinics, Hospitals & Surgery Centres), By Geographic Scope And Forecast

Hip Replacement Market Size And Forecast

Hip Replacement Market size was valued at USD 6.11 Billion in 2021 and is projected to reach USD 10.4 Billion by 2030, growing at a CAGR of 6.17% from 2023 to 2030.

The increasing elderly population, rise in hip arthroplasty/replacement surgery demand, and high prevalence of lower-limb conditions like osteoarthritis (OA), osteoporosis, and hip ailments are some key growth drivers for the market. The Global Hip Replacement Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Hip Replacement Market Definition

So, basically, a hip replacement is where a surgeon takes out the worn-out parts of your hip joint and swaps them for brand new ones. These new parts are usually made of tough stuff like metal, ceramic, or really strong plastic. What’s cool is that new surgical techniques and better orthopedic technology are coming out all the time, which is making things better for patients and helping the market grow. To get that new hip in, they might need to fuse the hip or do some other kind of surgery. The new hip joint is actually a prosthetic implant, also called a hip prosthesis. This whole thing—connecting or replacing the hip—it's an orthopedic procedure often needed because of long-lasting arthritis pain, and that pain might be from a broken bone or maybe a ligament problem.

Hip replacements? They're mainly about kicking arthritis pain to the curb. And get this, as tech gets better and surgeries become less of a hassle, more folks will probably opt for them, especially since their hips will work so much better thanks to these new methods! The implants surgeons use are usually a mix of plastic, metal, and ceramic. Now, with more people hitting the sports field, and osteoarthritis sufferers, plus those dealing with nastier stuff like rheumatoid arthritis (which tends to affect older people), you know accidents are bound to happen. Think fractures, ligament tears… and yeah, more trips to the hospital. So, all that adds up to more arthritis cases and, well, sadly, more traffic accidents too.

Covid-19 really messed with the market, didn't it? Even with all the cool tech and new surgical procedures, developing new treatments just slowed way down. Fewer folks were heading to the orthopedic doc for arthritis pain, and that, combined with the virus and new government rules – like those lockdowns that shut down factories and stopped production – drove prices down. Now, though, things are starting to look up! The Hip Replacement Market is actually growing faster because more older patients are finally visiting their doctors with that arthritis pain they've been putting off dealing with. The post-pandemic world is definitely changing things.

Global Hip Replacement Market Overview

Hip replacement, the most common orthopedic surgery, is getting better all the time! This is partly because more people are dealing with rheumatoid disease and, unfortunately, arthritis pain. Because of this, doctors are really pushing for new and improved surgical methods that offer better results and, most importantly, less pain. It's not just older folks, either – with more people playing sports, and specializing in them at younger ages, arthritis pain is on the rise in people from their early twenties all the way up. You might twist something, break something, or otherwise get injured while you're playing – a fracture, a ligament problem, a dislocation – and that can really make existing arthritis pain even worse.

Think about itmore car accidents leading to nasty injuries, and the ever-present pain of arthritis. That unfortunately gives the Hip Replacement Market a boost, as more doctors need these solutions. And things are only getting better! With all the R&D going on, hip replacement surgery is constantly improving – becoming more efficient, effective, and just plain better. Plus, these cool new 3D-printed hip replacements? They're a game changer, making the whole process faster, safer (less radiation!), and just generally more successful, which will really get the market moving. Not to mention, there's more government support these days for developing new technologies in this area.

Cost of hip replacement surgery has increased – Improved technologies and new advanced features created in hip replacement surgery, as well as some surgeries integrating robotics systems with increased efficiency and reliability in the operation with reduced time for surgery, and reduced complications, led to an increase in the cost of treatment in hip replacement common people cannot afford the treatment due to increased prices may restrain the market growth of hip replacement during the forecast period.

Improved hip replacement techniques with new elements included in the procedure will increase the procedure’s effectiveness and efficiency. Require current surgical abilities to execute hip replacements; individuals with insufficient surgical skills might see a decline in the market for hip replacements. The accessibility of the multiple surgeries involved in hip replacement – The expansion of the Hip Replacement Market may be hampered by the availability of more surgeries with more features and more affordable hip replacement operations.

Global Hip Replacement MarketSegmentation Analysis

The Global Hip Replacement Market is Segmented on the basis of Product, Application, End User, And Geography.

Hip Replacement Market, By Product

• Total Hip
• Partial Femoral Head
• Hip Resurfacing
• Revision Hip

When it comes to the type of hip replacement, we're looking at a few main categoriesTotal Hip, Partial Femoral Head, Hip Resurfacing, and Revision Hip. The Total Hip segment is really the engine driving the whole hip replacement market. What's fueling its growth? Well, we're seeing more people with rheumatoid disease, unfortunately. Plus, there's been a rise in traffic accidents and more sports-related injuries. All of this, combined with the growing popularity of arthroplasty, is contributing to the demand. What's really exciting is the way medical technology is evolving! We're seeing faster adoption of new tech, like robotic systems for orthopedics, which are improving hip replacement procedures. And with the government stepping in with better reimbursement policies, the market share is just getting bigger and bigger.

Hip Replacement Market, By Application

• Metal-on-Metal
• Metal-on-Polyethylene
• Ceramic-on-Polyethylene
• Ceramic-on-Metal
• Ceramic-on-Ceramic

Based on Application, The market is bifurcated into Metal-on-Metal, Metal-on-Polyethylene, Ceramic-on-Polyethylene, Ceramic-on-Metal, and Ceramic-on-Ceramic. With the most significant market share and increased revision of complete hip replacement procedures, Metal-on-Metal is contributing to the market growth of hip replacement. Metal-on-metal is frequently employed for total and second hip replacement surgeries. Inflammatory reactions and postoperative complications could limit this market’s expansion in the upcoming years. Due to the lowest wear rate and fewer difficulties with COP, the market is anticipated to experience a considerable increase during the forecast period.

Hip Replacement Market, By End User

• Orthopedic Clinics
• Hospitals & Surgery Centers
• Others

Based on End User, the market is bifurcated into Orthopedic Clinics, Hospitals & Surgery Centres, and Others. The hospitals and surgery centers with the highest market revenues, the value of hip replacements increasing due to market demand and medical expert demand, the number of patients with rheumatoid disorders and arthritis pain increasing due to citizens’ increased participation in sports, and the need for more surgeries and operations being performed in less time and with fewer complications.

Hip Replacement Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East And Africa

Looking at things regionally, the market breaks down into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. And guess what? Asia Pacific is expected to really take off, showing the biggest revenue jump during the forecast period. This growth spurt is fueled by a few thingsfirst, we're seeing more and more senior citizens, who are unfortunately more prone to conditions like osteoarthritis, osteoporosis, and bone injuries. Plus, the rise in obesity isn't helping things. On top of that, the demand in the region is boosted by how quickly the healthcare system is improving, thanks in part to the booming medical tourism industry. And finally, countries like India and China are becoming manufacturing powerhouses because they've got the resources to produce cutting-edge technologies at a lower price. Learn more here!

Key Players

The “Global Hip Replacement Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as ConMed Corporation, Aesculap Implant Systems, LLC, DJO Global, Inc., B. Braun Melsungen AG, OMNIlife Science, Inc., Exactech, Inc., MicroPort Scientific Corporation, Smith & Nephew plc, Stryker Corporation, Johnson & Johnson, Zimmer Biomet.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In August 2021, A medical company by the name of Zimmer Biomet Holdings, Inc., launched the Rosa Hip System integrated with robotic system directly involved for total hip replacement with clearance of 510K.
• In February 2021, With the development of the coated collared hip stem and cemented collared hip stem, Microport Orthopaedics increased the efficiency and effectiveness of hip replacement technology for patients.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Hip Replacement Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in Global Hip Replacement Market gauge the attractiveness of a certain sector, and assess investment possibilities.

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