Market Synopsis:

Global Hip Replacement Market size is expected to grow from USD 7.80 Billion in 2023 to USD 12.30 Billion by 2032, at a CAGR of 5.19% during the forecast period (2024-2032).

A hip replacement, also known as hip arthroplasty, is a surgical procedure where a damaged or worn-out hip joint is replaced with an artificial joint, called a prosthesis. This procedure is typically done to relieve pain and improve mobility in individuals with severe hip arthritis or other conditions that cause significant hip joint damage.

  • Hip replacement, referred to medically as total hip arthroplasty, is a surgical intervention designed to reduce pain and improve movement for individuals experiencing significant hip joint damage or conditions like osteoarthritis. This operation entails extracting the impaired or diseased segments of the hip joint, such as the femoral head and the affected socket, and substituting them with synthetic components crafted from metal, plastic, or ceramic materials.
  • Hip replacement surgery serves as a solution for a range of conditions leading to hip joint deterioration, such as arthritis, fractures, avascular necrosis, and other musculoskeletal disorders. It is usually contemplated when conservative treatments like medication, physical therapy, or lifestyle adjustments prove ineffective in alleviating discomfort or enhancing mobility.
  • Hip replacement offers a multitude of benefits. Most notably, it effectively diminishes persistent pain, thereby improving the patient's quality of life through the restoration of mobility and function. Furthermore, advancements in surgical methods and materials have bolstered the resilience and lifespan of artificial hip joints, leading to better long-term results and decreased instances of additional surgeries. Following the procedure, individuals commonly encounter heightened joint stability and expanded range of motion, enabling a seamless transition back to daily routines and a more active way of life.

HIP REPLACEMENT

Hip Replacement Market - Comprehensive Study Report & Recent Trends

Global Hip Replacement Market Trend Analysis:

Rising Geriatric Population

  • The global market for hip replacement has experienced significant influence from the increasing elderly population across the globe. As demographics undergo a shift, the aging demographic becomes more prone to degenerative joint conditions, particularly osteoarthritis, which stands as a primary cause of hip joint degradation. This demographic shift has led to a substantial surge in hip replacement surgery requests.
  • Elderly individuals commonly face hip joint wear and tear over time, resulting in diminished mobility and persistent discomfort. This has consequently generated a heightened necessity for hip replacement procedures to alleviate pain and reinstate functional abilities within this specific age group. With a larger portion of the population entering old age, instances of hip-related conditions have escalated, consequently driving the global demand for hip replacement surgeries.
  • Moreover, advancements in healthcare technologies, materials used in implants, and surgical methodologies have played a role in encouraging the adoption of hip replacement surgeries among the elderly. The ongoing enhancements in implant durability, along with improved surgical precision and faster recovery periods, have made this procedure more attractive to older individuals seeking an improved standard of living and increased mobility. As the elderly population continues to grow, the demand for hip replacement surgeries is anticipated to sustain its upward trajectory in the global market.

Growing Demand for Outpatient Surgery

  • The increasing preference for outpatient surgery, particularly in the realm of hip replacement operations, stands as a significant opportunity within the global hip replacement market. This trend primarily stems from concerted efforts within healthcare systems to manage expenses while upholding superior patient care standards. Outpatient hip replacements, conducted in ambulatory surgery centers or outpatient facilities, present distinct advantages compared to traditional inpatient surgeries, thereby creating favorable prospects within the market.
  • The focus on reducing healthcare costs has spurred the development and enhancement of outpatient hip replacement methods. Contrasted with inpatient procedures, outpatient surgeries often lead to shorter hospital stays or, in many instances, discharge on the same day. This streamlined approach not only diminishes healthcare expenses associated with prolonged hospitalization but also lessens the overall financial burden on healthcare systems.
  • Furthermore, outpatient hip replacements benefit from advancements in minimally invasive surgical techniques, anaesthesia protocols, and postoperative care strategies. These innovations contribute to swifter recovery periods, reduced risks of complications, and heightened levels of patient satisfaction.
  • The shift toward outpatient procedures aligns with patient preferences for convenience and faster rehabilitation, further bolstering the market's potential for growth. As healthcare systems persist in prioritizing cost-effective solutions without compromising patient outcomes, the adoption of outpatient hip replacement procedures is expected to offer significant opportunities for expansion within the global hip replacement market.

Global Hip Replacement Market Segment Analysis:

By Type, Total Hip Replacement is the dominant segment in Global Hip Replacement Market

  • The total hip replacement has indeed been a significant segment within the global hip replacement market. This procedure involves replacing a damaged or diseased hip joint with an artificial joint or implant. Total hip replacement surgery is commonly performed to relieve pain and improve function in individuals suffering from conditions like osteoarthritis, rheumatoid arthritis, fractures, or other hip-related issues.
  • The demand for total hip replacement surgeries is rising due to several factors. Primarily, there's an increase in hip-related conditions owing to aging populations, sedentary lifestyles, obesity, and sports injuries. Furthermore, continuous advancements in implant materials, surgical techniques, and prosthetic designs have improved the success rates of hip replacements, attracting patients and surgeons. Additionally, greater awareness among patients about the benefits of hip replacement, such as pain relief and improved mobility, has increased acceptance of this surgical procedure.
  • Moreover, the surge in healthcare spending and favorable reimbursement policies in many regions have enhanced patient access to these surgeries, further driving market growth.

Global Hip Replacement Market Regional Insights:

North America Region Dominate the Market

  • North America remained a dominant force in the global hip replacement market, representing a significant share. The region's prominence was attributed to several factors, including a robust healthcare infrastructure, technological advancements, a rising geriatric population, and high healthcare expenditure.
  • The United States and Canada boasted advanced medical facilities and a higher acceptance rate of innovative medical technologies. Moreover, an aging population in these countries increased the prevalence of hip-related ailments, thereby driving the demand for hip replacement surgeries. Accessibility to specialized healthcare services and favorable reimbursement policies also contributed to the region's market dominance.
  • The ongoing research and development initiatives, coupled with the presence of key market players and collaborations between medical institutions and manufacturers, continued to propel the growth of hip replacement technologies in North America.
  • The landscape might have evolved since then, potentially influenced by emerging trends such as the increased adoption of outpatient procedures, advancements in implant materials and surgical techniques, and a continued focus on cost-effectiveness in healthcare delivery. These factors could further impact the distribution of market shares among regions, potentially altering the dominance of North America in the global hip replacement market.

Global Hip Replacement Market Key Players:

  • Zimmer Biomet (U.S.)
  • Stryker (U.S.)
  • Exactech, Inc. (U.S.)
  • Conformis (U.S.)
  • Globus Medical, Inc. (U.S)
  • ConforMIS Inc. (U.S)
  • Integra LifeSciences (U.S)
  • Smith & Nephew (U.K.)
  • Corin Group PLC (U.K)
  • GRUPPO BIOIMPIANTI s.r.l. (Italy)
  • B. Braun Melsungen AG (Germany)
  • Merete GmbH (Germany)
  • Medacta International (Switzerland)
  • MicroPort Scientific Corporation (China)
  • Kyocera Corporation (Japan), and Other Major Players

Key Industry Developments in the Global Hip Replacement Market:

  • In February 2024, Zimmer Biomet Holdings, Inc. announced U.S. Food and Drug Administration (FDA) 510(k) clearance of the ROSA Shoulder System for robotic-assisted shoulder replacement surgery. ROSA Shoulder is the world's first robotic surgery system for shoulder replacement, and the fourth application for the Company's comprehensive ROSA® Robotics portfolio, which includes the ROSA® Knee System for total knee arthroplasty and ROSA® Hip System for total hip replacement.
  • In August 2023, Smith+Nephew announced the launch of its OR3O Dual Mobility System for use in primary and revision hip arthroplasty in India. Compared with traditional solutions, dual mobility implants have a small diameter femoral head that locks into a larger polyethylene insert - increasing stability, reducing dislocation risk, and offering improved range of motion.

Global Hip Replacement Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2022

Market Size in 2023:

USD 7.80 Bn.

Forecast Period 2024-32 CAGR:

5.19 %

Market Size in 2032:

USD 12.30 Bn.

Segments Covered:

By Type

  • Total Hip Replacement
  • Partial Hip Replacement
  • Hip Resurfacing
  • Revision Hip Replacement

By Implant Type

  • Metal on Metal
  • Metal on Polyethylene
  • Ceramic on Metal
  • Others

By End Users

  • Hospitals & Surgery Centers
  • Orthopaedic Clinics
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Rising Geriatric Population

Key Market Restraints:

  • Potential risks and complications

Key Opportunities:

  • Potential risks and complications

Companies Covered in the report:

  • Zimmer Biomet, Stryker, Exactech, Inc., Conformis, Globus Medical, Inc.  and Other Major Players.

INTRODUCTION

RESEARCH OBJECTIVES
RESEARCH METHODOLOGY
RESEARCH PROCESS
SCOPE AND COVERAGE

Market Definition
Key Questions Answered


MARKET SEGMENTATION


EXECUTIVE SUMMARY
MARKET OVERVIEW
GROWTH OPPORTUNITIES BY SEGMENT
MARKET LANDSCAPE

PORTER’S FIVE FORCES ANALYSIS

Bargaining Power Of Supplier
Threat Of New Entrants
Threat Of Substitutes
Competitive Rivalry
Bargaining Power Among Buyers


INDUSTRY VALUE CHAIN ANALYSIS
MARKET DYNAMICS

Drivers
Restraints
Opportunities
Challenges


MARKET TREND ANALYSIS
REGULATORY LANDSCAPE
PESTLE ANALYSIS
PRICE TREND ANALYSIS
PATENT ANALYSIS
TECHNOLOGY EVALUATION
MARKET IMPACT OF THE RUSSIA-UKRAINE WAR

Geopolitical Market Disruptions
Supply Chain Disruptions
Instability in Emerging Markets


ECOSYSTEM


HIP REPLACEMENT MARKET BY TYPE (2016-2030)

HIP REPLACEMENT MARKET SNAPSHOT AND GROWTH ENGINE
MARKET OVERVIEW
TOTAL HIP REPLACEMENT

Introduction And Market Overview
Historic And Forecasted Market Size in Value (2016 – 2030F)
Historic And Forecasted Market Size in Volume (2016 – 2030F)
Key Market Trends, Growth Factors And Opportunities
Geographic Segmentation Analysis


PARTIAL HIP REPLACEMENT
HIP RESURFACING
REVISION HIP REPLACEMENT


HIP REPLACEMENT MARKET BY IMPLANT TYPE (2016-2030)

HIP REPLACEMENT MARKET SNAPSHOT AND GROWTH ENGINE
MARKET OVERVIEW
METAL ON METAL

Introduction And Market Overview
Historic And Forecasted Market Size in Value (2016 – 2030F)
Historic And Forecasted Market Size in Volume (2016 – 2030F)
Key Market Trends, Growth Factors And Opportunities
Geographic Segmentation Analysis


METAL ON POLYETHYLENE
CERAMIC ON METAL
OTHERS


HIP REPLACEMENT MARKET BY END-USERS (2016-2030)

HIP REPLACEMENT MARKET SNAPSHOT AND GROWTH ENGINE
MARKET OVERVIEW
HOSPITALS & SURGERY CENTERS

Introduction And Market Overview
Historic And Forecasted Market Size in Value (2016 – 2030F)
Historic And Forecasted Market Size in Volume (2016 – 2030F)
Key Market Trends, Growth Factors And Opportunities
Geographic Segmentation Analysis


ORTHOPAEDIC CLINICS
OTHERS


COMPANY PROFILES AND COMPETITIVE ANALYSIS

COMPETITIVE LANDSCAPE

Competitive Positioning
HIP REPLACEMENT Market Share By Manufacturer (2022)
Industry BCG Matrix
Heat Map Analysis
Mergers & Acquisitions


ZIMMER BIOMET (U.S.)

Company Overview
Key Executives
Company Snapshot
Role of the Company in the Market
Sustainability and Social Responsibility
Operating Business Segments
Product Portfolio
Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
Key Strategic Moves And Recent Developments
SWOT Analysis


STRYKER (U.S.)
EXACTECH, INC. (U.S.)
CONFORMIS (U.S.)
GLOBUS MEDICAL, INC. (U.S)
CONFORMIS INC. (U.S)
INTEGRA LIFESCIENCES (U.S)
SMITH & NEPHEW (U.K.)
CORIN GROUP PLC (U.K)
GRUPPO BIOIMPIANTI S.R.L. (ITALY)
B. BRAUN MELSUNGEN AG (GERMANY)
MERETE GMBH (GERMANY)
MEDACTA INTERNATIONAL (SWITZERLAND)
MICROPORT SCIENTIFIC CORPORATION (CHINA)
KYOCERA CORPORATION (JAPAN)


GLOBAL HIP REPLACEMENT MARKET BY REGION

OVERVIEW
NORTH AMERICA

Key Market Trends, Growth Factors And Opportunities
Key Manufacturers
Historic And Forecasted Market Size By TYPE
Historic And Forecasted Market Size By IMPLANT TYPE
Historic And Forecasted Market Size By End-Users
Historic And Forecasted Market Size By Country

USA
Canada
Mexico




EASTERN EUROPE

Key Market Trends, Growth Factors And Opportunities
Key Manufacturers
Historic And Forecasted Market Size By Segments
Historic And Forecasted Market Size By Country

Russia
Bulgaria
The Czech Republic
Hungary
Poland
Romania
Rest Of Eastern Europe




WESTERN EUROPE

Key Market Trends, Growth Factors And Opportunities
Key Manufacturers
Historic And Forecasted Market Size By Segments
Historic And Forecasted Market Size By Country

Germany
United Kingdom
France
The Netherlands
Italy
Spain
Rest Of Western Europe




ASIA PACIFIC

Key Market Trends, Growth Factors And Opportunities
Key Manufacturers
Historic And Forecasted Market Size By Segments
Historic And Forecasted Market Size By Country

China
India
Japan
South Korea
Malaysia
Thailand
Vietnam
The Philippines
Australia
New-Zealand
Rest Of APAC




MIDDLE EAST & AFRICA

Key Market Trends, Growth Factors And Opportunities
Key Manufacturers
Historic And Forecasted Market Size By Segments
Historic And Forecasted Market Size By Country

Turkey
Bahrain
Kuwait
Saudi Arabia
Qatar
UAE
Israel
South Africa




SOUTH AMERICA

Key Market Trends, Growth Factors And Opportunities
Key Manufacturers
Historic And Forecasted Market Size By Segments
Historic And Forecasted Market Size By Country

Brazil
Argentina
Rest of South America






INVESTMENT ANALYSIS
ANALYST VIEWPOINT AND CONCLUSION

Recommendations and Concluding Analysis
Potential Market Strategies

Global Hip Replacement Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2022

Market Size in 2023:

USD 7.80 Bn.

Forecast Period 2024-32 CAGR:

5.19 %

Market Size in 2032:

USD 12.30 Bn.

Segments Covered:

By Type

  • Total Hip Replacement
  • Partial Hip Replacement
  • Hip Resurfacing
  • Revision Hip Replacement

By Implant Type

  • Metal on Metal
  • Metal on Polyethylene
  • Ceramic on Metal
  • Others

By End Users

  • Hospitals & Surgery Centers
  • Orthopaedic Clinics
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Rising Geriatric Population

Key Market Restraints:

  • Potential risks and complications

Key Opportunities:

  • Potential risks and complications

Companies Covered in the report:

  • Zimmer Biomet, Stryker, Exactech, Inc., Conformis, Globus Medical, Inc.  and Other Major Players.

Frequently Asked Questions :

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