Swiss Hip Replacement Implants Market – Industry Trends and Forecast to 2030

Swiss Hip Replacement Implants Market, By Product Type (Femoral Reconstruction, Acetabular Reconstruction, Hip Resurfacing, Revision Hip Implants, Bearing and Porous Metal Technologies, and Total Replacement Implants), Material (Ceramic-On-Cross-Linked Polyethylene, Ceramic-On-Polyethylene, Ceramic-On-Ceramic, Metal-On-Cross-Linked Polyethylene, and Others), End User (Orthopedic Clinics, Hospitals & Surgery Centers, and Others), Distribution Channel (Direct Sales, Third-Party Distributors, and Retail Sales) - Industry Trends and Forecast to 2030.

Swiss Hip Replacement Implants Market Analysis and Size

Hip implants are medical devices that are used when part of the bone is missing, or a specific support joint has been made for that bone to prevent further damage. This artificial implant is made of stainless steel and alloys such as titanium for maximum strength and is labeled with a plastic that acts as cartilage in the hip of the body to maintain joint structure and function. For operations that require minimal surgical procedures, artificial implants of the type often seen in the treatment of hip injuries are used in other similar conditions, such as hip stenosis. In recent years, a rapid increase in the number of hip injuries has been observed due to the development of various creeping diseases related to the skeleton. The frequency of other localized fall injuries among the elderly has also proven to be a driver for market growth. In addition, technological advancements and innovations such as robotic surgical devices, rapid adoption of hip implants and implantable medical devices, and many other modern technologies to treat hip-related problems have fueled the market during the forecast period.

The increasing prevalence of hip injuries or diseases such as hip arthritis and rapid growth in the elderly population prone to orthopedic diseases are some of the factors driving the market growth. However, the high cost associated with the use of advanced technologies in hip replacement treatment is one of the major restraining factors for market growth. As a result, market growth may be hampered in the long run.

Emerging economies are anticipated to provide lucrative growth opportunities for market growth. On the other hand, product failures and product recall of hip implants may challenge market growth.

Data Bridge Market Research analyzes that the Swiss hip replacement implant market is expected to reach a value of USD 98.92 million by 2030, at a CAGR of 10.5% during the forecast period. Product type accounts for the largest segment in the Swiss hip replacement implants market. 

Market Definition

Hip replacement is a surgical procedure in which the hip joint is replaced by a prosthetic implant, that is, a hip prosthesis. Hip replacement surgery can be performed as a total replacement or a semi-replacement.

Hip implants are medical devices intended to restore mobility and relieve pain usually associated with arthritis and other hip diseases or injuries. Every hip implant has benefits and risks. Every hip implant system has unique device design features such as size, shape, material, and dimensions. In addition, the same hip implant system may have different outcomes in different patients. There are several factors that may influence the outcome and longevity of a hip implant including the device design features, surgeon experience and implantation technique, and individual patient characteristics such as age, sex, weight, activity level, and overall health.

Swiss Hip Replacement Implant Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:

DRIVERS

• A rise in the prevalence of hip arthritis

One of the most common crippling joint conditions, arthritis, causes harm to the articular cartilage, subchondral bone, and synovium, among other joint components. With considerable effects on those affected, healthcare systems, and large socioeconomic consequences, arthritis is a major public health concern. Even though arthritis can affect any joint, the hip accounts for a significant amount of the disease burden. Hip arthritis can eventually result in joint failure and necessitate surgical replacement. Hip arthritis is the deterioration of the cartilage of the hip joint. The hip is a ball-and-socket joint with the ball at the top of the thighbone (the femoral head). The ball is separated from the socket (the acetabulum) by cartilage.

Thus, the rise in the prevalence of hip arthritis in Switzerland is expected to drive market growth.

• Government and private initiatives for healthcare and insurance investments

Switzerland's universal health care system is highly decentralized, with the cantons, or states, playing a key role in its operation. The system is funded through enrollee premiums, taxes (mostly cantonal), social insurance contributions, and out-of-pocket payments. Residents are required to purchase insurance from private non-profit insurers. Adults also pay yearly deductibles and coinsurance (with an annual cap) for all services. Coverage includes most physician visits, hospital care, pharmaceuticals, devices, home care, medical services in long-term care, and physiotherapy. Supplemental private insurance can be purchased for services not covered by mandatory health insurance to secure a greater choice of physicians and to obtain better hospital accommodations.

Since health care is largely decentralized, the key entities for health system governance exist mainly at the cantonal level. Each canton has its elected minister of public health; a coordinating political body, the Swiss Conference of Cantonal Health Ministers, plays an important role.

Thus, the government and private initiatives for healthcare and insurance investments are expected to act as a driver for market growth.

OPPORTUNITY

• Rising product innovations and development owing to technological advancements

Technological developments in hip replacement implants result in additional functionality, higher success rate, and newer materials, depending on their use in different hip replacement procedures. The commercializing of advanced technology-based hip replacement implants used for implants and surgical procedures has increased its demand among consumers, due to which growing technological advancement is propelling the market demand and growth.

Thus, technological advancements and the development of precise orthopedic implants are expected to act as an opportunity for market growth.

RESTRAINTS/CHALLENGES

• Product recalls and product failures

Several joint manufacturers have recalled metal-on-metal hip implants during the past decade. The companies promised their metal-on-metal designs would increase mobility. But certain hip replacements may be more prone to failure and recall.

For instance,

• A 2022 study reported that, following a hip replacement, 46.7% of participants experienced a clinically significant improvement, while 15.5% experienced worsened outcomes.

Thus, product recalls and product failures are expected to act as a restraint for market growth.

• Stringent regulatory framework

Achieving the requisite approval for the legal selling of hip implants and replacement products in such jurisdictions can entail significant financial expenditure, which could take months or years to complete. Delays may significantly jeopardize the chances of success in a highly competitive market if these limitations are not known or considered.

As per the Federal Office of Public Health (FOPH), Switzerland has adapted its medical device regulations to the EU (Europe) rules in the interests of patient safety and EU market access for the Swiss medical devices industry. The changes will also have implications for human research legislation.

Hence, strict regulations for the approval of new devices are expected to challenge market growth.

Post-COVID-19 Impact on the Swiss 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 did not make it to the list of essential surgeries. Significant financial losses in this pandemic phase resulted in derailing market growth.

Recent Developments

• In April 2021, Corin Group announced the launch of OPSInsight preoperative planning software for Total Hip Arthroplasty (THA). This cloud-based platform represents the next generation of Corin's pioneering Optimized Positioning System (OPS) technology, which helps to assess the patient's unique joint biomechanics.
• In August 2021, DJO Switzerland announced the launch of EMPOWR Dual Mobility, which is a product of the hip portfolio that provides surgeons with a solution to treat a large patient group needing better joint stability.

Swiss Hip Replacement Implants Market Scope  

The swiss hip replacement implants market is segmented into four notable segments based on product type, material, end user, and distribution channel. The growth amongst these segments will help you analyze major 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.  

BY PRODUCT TYPE

• FEMORAL RECONSTRUCTION
• ACETABULAR RECONSTRUCTION
• HIP RESURFACING
• REVISION HIP IMPLANTS
• BEARING AND POROUS METAL TECHNOLOGIES
• TOTAL REPLACEMENT IMPLANTS

Based on product type, the market is segmented into femoral reconstruction, acetabular reconstruction, hip resurfacing, revision hip implants, bearing and porous metal technologies, and total replacement implants. 

BY MATERIAL

• CERAMIC-ON-CROSS-LINKED POLYETHYLENE
• CERAMIC-ON-POLYETHYLENE
• CERAMIC-ON-CERAMIC
• METAL-ON-CROSS-LINKED POLYETHYLENE
• OTHERS

Based on material, the market has been segmented into ceramic-on-cross-linked polyethylene, ceramic-on-polyethylene, ceramic-on-ceramic, metal-on-cross-linked polyethylene, and others.  

BY END USER

• ORTHOPEDIC CLINICS
• HOSPITALS & SURGERY CENTERS
• OTHERS

Based on end user, the market has been segmented into orthopedic clinics, hospitals & surgery centers, and others.

BY DISTRIBUTION CHANNEL

• DIRECT SALES
• THIRD-PARTY DISTRIBUTORS
• RETAIL SALES

Based on distribution channel, the market has been segmented into direct sales, third-party distributors, and retail sales.

Competitive Landscape and Swiss Hip Replacement Implants Market Share Analysis

The swiss hip replacement implants market competitive landscape provides details of the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the market.

Some of the major players operating in the swiss hip replacement implants market are Atesos, B. Braun Melsungen AG, Conformis, Corin Group, DePuy Synthes Companies, DJO, LLC, Exactech, Inc., KYOCERA Medical Technologies, Inc., Mathys Ltd Bettlach, Medacta International, MicroPort Scientific Corporation, Smith & Nephew, Stryker, Symbios Orthopedie S.A., Waldemar Link GmbH & Co. KG, and Zimmer Biomet among others.