The global demand for Hip Replacement Market is presumed to reach the market size of nearly USD 9.71 MN by 2028 from USD 6.9 MN in 2021 with a CAGR of 5% under the study period 2022 - 2028.
Hip replacement is also called hip resurfacing or total hip arthroplasty. Hip replacement is a surgical methodology used to replace the hip joint with a prosthetic implant, that is, a hip prosthesis. Hip replacement is the most common surgery performed to reduce rigidity and pain in the hip joint. Hip implants are made up of ceramic, plastic, and metal. Hip replacement is of four categories, such as hip resurfacing, primary hip reconstruction, revision hip implants, and partial hip reconstruction. In primary hip reconstruction, the complete hip joint is been replaced. Partial hip reconstruction is performed only when the femoral component of the hip joints needs to be replaced. In Hip replacement, partial hip reconstruction procedures are less expensive and consume minimal time when compared to total hip replacement procedures.
Market Dynamics
The global hip replacement market is expected to grow at a healthy rate during the forthcoming years by the rise in incidences of hip injuries due to sport-related injuries & road accidents. In addition, an increase in the geriatric population boosts the hip replacement market growth. Ample health coverage and reform in health reimbursement norms and policies for joint replacement methodologies are expected to promote the demand for the hip replacement market. Furthermore, the integration of robotics and advanced navigation system with surgical procedures will also contribute to the promotion of the hip replacement industry. The involvement of 3D printing technology in the manufacturing of orthopedic implants will propel the growth of the hip replacement market globally.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of hip replacement. The growth and trends of hip replacement industry provide a holistic approach to this study.
Market Segmentation
This section of the hip replacement market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Procedure
- Total Hip Replacement
- Partial Hip Replacement
- Revision Hip Replacement
- Hip Resurfacing
By Material
- Metal-On-Metal
- Metal-On-Polyethylene
- Ceramic-On-Polyethylene
- Ceramic-On-Metal
- Ceramic-On-Ceramic
By End User
- Hospitals
- Orthopedic Clinics
- Ambulatory Surgery Centers
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Hip Replacement market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Hip Replacement Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the hip replacement market include B. Braun Melsungen AG, Johnson & Johnson, Smith & Nephew PLC, Stryker Corporation, Zimmer Biomet Holdings Inc, Enovis, Kyocera Corporation, Corin Group PLC, Gruppo Bioimpianti s.r.l., Exactech Inc, Globus Medical Inc, Integra LifeSciences, Medacta International, Conformis Inc, MicroPort Scientific Corporation, Merete GmbH, and Waldemar Link GmbH & Co. KG. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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