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

Hip Replacement Implants Market Analysis and Size

Surgical implantation has taken medical science to a whole different level. With surgical implantation, replacing the broken part with a new and artificial part has become easy. These implants relive the individual of pain and restore mobility. These implants, especially hip implants, are available in varying sizes, shapes, materials, and dimensions.

Data Bridge Market Research analyses that the global hip replacement implants market which was USD 6,784.24 million in 2022, would rocket up to USD 9,156.78 million by 2030, and is expected to undergo a CAGR of 5.8% during the forecast period. “Femoral Reconstruction” dominates the product type segment of the hip replacement implants market owing to the high demand for this type of product. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Hip Replacement Implants Market Scope and Segmentation

Market Definition

Hip replacement implants are medical devices used in total hip arthroplasty, a surgical procedure that involves replacing a damaged or diseased hip joint with a prosthesis. These implants are designed to replicate the function of the natural hip joint, providing pain relief, improved mobility, and restored functionality for individuals with hip joint problems.

Global Hip Replacement Implants Market Dynamics

Drivers

• The rise in the prevalence of diseases

The surging prevalence of osteoarthritis all around the globe is one of the major factors responsible for fostering growth in the market value. A 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 about medical instruments and devices, will further create lucrative market growth opportunities. Research and development proficiencies being conducted for integrating advanced technologies in healthcare facilities are also bolstering the market growth rate.

• Growing investment in healthcare facilities

Surging focus on improving the condition of healthcare facilities and improving the overall healthcare infrastructure is another important factor fostering the growth of the market. The rising number of partnerships and strategic collaborations between the public and private players of funding and application of new and improved technology is further creating lucrative market opportunities.  

Opportunities

• Expansion of the medical devices industry

The medical devices industry is experiencing growth due to various factors, including advancements in device development, increasing investments in research and development, and expanding healthcare infrastructure. This growth directly impacts the hip replacement implants market.

• Government investments in healthcare infrastructure

The increase in funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of the 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.

Restraint/Challenge

• Rising competition

The hip replacement implant market is highly competitive, with numerous companies offering a wide range of products. This can make it challenging for new entrants or smaller companies to gain market share and establish a strong presence.

• High cost associated with hip replacement implants.

The cost of hip replacement implants, including the implant itself and associated surgical procedures, can be significant. Healthcare systems and payers face cost pressures, and there is a growing demand for cost-effective solutions. Manufacturers must balance innovative implants' development with affordability to meet market demands.

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.

Recent Development

• In July 2021, Medacta announced the expansion of hip revision portfolio to improve the profitability quotient
• In August 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 based on 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.

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-Users

• Orthopedic Clinics
• Hospitals
• Surgery Centers

Global Hip Replacement Implants Market Regional Analysis/Insights

The global hip Replacement Implants market is analyzed and market size insights and trends are provided by country, product type, material, and end-user as referenced above.

The countries covered in the 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 is expected to dominate the market because of the strong base of healthcare facilities, the strong presence of major players in the market, and the rising number of research activities in this region.   

Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in healthcare facilities, growing research activities in the region, availability of massive untapped markets, large population pool, 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 global hip replacement implants market also provides you with a detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for the global 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 the historic period 2015-2020.

Competitive Landscape and Global Hip Replacement Implants Market Share Analysis

The global hip replacement implants market competitive landscape provides details of competitors. 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, and application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the global hip replacement implants market are:

• Zimmer Biomet (U.S.)
• Johnson and Johnson Services, Inc. (U.S.)
• Stryker (U.S.)
• Smith and Nephew plc (UK)
• B.Braun Melsungen AG (Germany)
• Corin (UK)
• Waldemer Link GmbH & Co. KG (Germany)
• Wright Medical Group N.V. (U.S.)
• Arthrex, Inc. (U.S.)
• Conformis (U.S.)
• Corentec Co., Ltd. (South Korea)
• Elite Surgical (India)
• Surgival (Spain)
• Synergie Ingenierie Medicale (France)
• evolutisfrance (France)
• Group FH Ortho communication (France)
• Integra LifeSciences Corporation (U.S.)
• Medacta International (Switzerland)
• Tecomet,Inc. (U.S.)
• Peter Brehm GmbH (Germany)
• MicroPort Scientific Corporation (China)
• athenahealth, Inc. (U.S.)

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