Global Hip Replacement Implants Market, By Product Type (Femoral Reconstruction, Acetabular Reconstruction, Hip Resurfacing, Revision Hip Implants, Bearing and Porous Metal Technologies, Total Replacement Implants) Material (Metal-On-Metal, Metal-on-Polyethylene, Ceramic-On-Metal, Ceramic-On-Polyethylene, Ceramic-On-Ceramic) End User (Orthopedic Clinics, Hospitals, Surgery Centers) – Industry Trends and Forecast to 2029.
Global Hip Replacement Implants Market Analysis and Size
Surgical implantation has taken medical science to a whole different level. With surgical implantation, it has become easy to replace the broken part with a new and artificial part. These implants relive the individual of pain and restore the mobility. These implants, especially hip implants, are available in varying sizes, shapes, materials and dimensions.
- Data Bridge Market Research analyses that the hip replacement implants market is expected to undergo a CAGR of 4.90% during the forecast period. This indicates that the market value, which was USD 6.41 billion in 2021, would rocket up to USD 9.41 billion by 2029. “Metal-on-Polyethylene” dominates the product segment of the hip replacement implants market owing to the fact that it offers greater benefits than other alternatives such as fewer complications and lesser wear particles and is the most cost-effective implant among others. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Global Hip Replacement Implants Market Definition
From the name itself, it is clear that hip replacement implants are the artificial implants that are used to replace the broken or damaged hip using surgical procedures. Hip replacement implants are manufactured of plastics, metals or ceramics.
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Million, Volumes in Units, Pricing in USD
Product Type (Femoral Reconstruction, Acetabular Reconstruction, Hip Resurfacing, Revision Hip Implants, Bearing and Porous Metal Technologies, Total Replacement Implants), Material (Metal-On-Metal, Metal-on-Polyethylene, Ceramic-On-Metal, Ceramic-On-Polyethylene, Ceramic-On-Ceramic), End User (Orthopedic Clinics, Hospitals, Surgery Centers)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Market Players Covered
Zimmer Biomet (US), Johnson and Johnson Services, Inc. (US), Stryker (US), Smith and Nephew plc (UK), B.Braun Melsungen AG (Germany), Corin (UK), Waldemer Link GmbH & Co. KG (Germany), Wright Medical Group N.V. (US), Arthrex, Inc. (US), Conformis (US), Corentec Co., Ltd. (South Korea), Elite Surgical (India), Surgival (Spain), Synergie Ingenierie Medicale (France), evolutisfrance (France), Group FH Ortho communication (France), Integra LifeSciences Corporation (US), Medacta International (Switzerland), Tecomet,Inc. (US), Peter Brehm GmbH (Germany), MicroPort Scientific Corporation (China) and athenahealth, Inc. (US)
Hip Replacement Implants Market Dynamics
The rise in the prevalence of diseases
Surging prevalence of osteoarthritis all around the globe is one of the major factors responsible for fostering growth in the market value. Growing number of surgical procedures, rising awareness about the benefits of robotically assisted medical surgeries and surging number of road accidents are all responsible for boosting the market growth rate.
Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the integration of advanced technologies in the healthcare facilities is also bolstering the market growth rate.
Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities. Also, high return on investments assured by the research activities will also work in the favour of the market.
Additionally, growing number of robot-assisted surgeries, surge in the personal disposable income level, introduction of technologically driven products in hospitals, increasing investment for the development of advanced medical products and devices and rise in the popularity of minimally invasive surgeries, positively affect the market growth rate.
Furthermore, upsurge in the public-private funding for target research activities, increasing levels of hospital data, growing geriatric population base and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, surging number of strategic collaborations, rising internet penetration rate, growing number of hospitals and laboratories, growing number of younger individuals suffering from degenerative diseases and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
Restraints/Challenges Global Hip Replacement Implants Market
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities and stringent regulations for the approval of devices are expected to obstruct market growth. Also, lack of favourable reimbursement scenario and technology penetration in the developing economies, high cost of surgical procedures, interoperability issues, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.
This hip replacement implants market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hip replacement implants market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Hip Replacement Implants Market
COVID-19 has significantly and negatively impacted the market. During this phase, there was a huge drop in the number of non-elective and non-essential surgical procedures and hip and knee arthroplasty surgeries didn’t make it to the list of essential surgeries. Significant financial losses in this pandemic phase resulted in derailing the growth of the market.
- In July 2021, Medacta announced the expansion of hip revision portfolio to improve the profitability quotient.
- In Auhust 2021, Zimmer Biomet received approval from FDA clearance of the ROSA hip system for the robotically assisted anterior total hip replacement.
Global Hip Replacement Implants Market Scope
The hip replacement implants market is segmented on the basis of product type, material and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Femoral Reconstruction
- Acetabular Reconstruction
- Hip Resurfacing
- Revision Hip Implants
- Bearing and Porous Metal Technologies
- Total Replacement Implants
On the basis of product type, the hip replacement implants market is segmented into femoral reconstruction, acetabular reconstruction, hip resurfacing, revision hip implants, bearing and porous metal technologies, total replacement implants. Total replacement implants are further sub segmented into fixed bearing hip implants and mobile-bearing total hip implants.
On the basis of material, the hip replacement implants market is segmented into metal-on-metal, metal-on-polyethylene, ceramic-on-metal, ceramic-on-polyethylene, and ceramic-on-ceramic.
- Orthopedic Clinics
- Surgery Centers
On the basis of end user, the hip replacement implants market is segmented into orthopedic clinics, hospitals, surgery centers.
Hip Replacement Implants Market Regional Analysis/Insights
The hip replacement implants market is analysed and market size insights and trends are provided by country, product type, material and end user as referenced above.
The countries covered in the hip replacement implants market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the hip replacement implants market because of the strong base of healthcare facilities, rising investment from key players in the growth of the advanced devices, growing number of processes pertaining to drug development, and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, rising prevalence of osteoarthritis and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The hip replacement implants market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for hip replacement implants market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the hip replacement implants market. The data is available for historic period 2010-2020.
Competitive Landscape and Hip Replacement Implants Market Share Analysis
The hip replacement implants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hip replacement implants market.
Some of the major players operating in the hip replacement implants market are Zimmer Biomet (US), Johnson and Johnson Services, Inc. (US), Stryker (US), Smith and Nephew plc (UK), B.Braun Melsungen AG (Germany), Corin (UK), Waldemer Link GmbH & Co. KG (Germany), Wright Medical Group N.V. (US), Arthrex, Inc. (US), Conformis (US), Corentec Co., Ltd. (South Korea), Elite Surgical (India), Surgival (Spain), Synergie Ingenierie Medicale (France), evolutisfrance (France), Group FH Ortho communication (France), Integra LifeSciences Corporation (US), Medacta International (Switzerland), Tecomet,Inc. (US), Peter Brehm GmbH (Germany), MicroPort Scientific Corporation (China) and athenahealth, Inc. (US) among others.
Research Methodology : Global Hip Replacement Implants Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-hip-replacement-implants-market
Customization Available : Global Hip Replacement Implants Market
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