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).
Hip replacement, cited medically as total hip arthroplasty, is a surgical intervention designed to reduce pain and enhance movement for individuals experiencing large hip joint harm or conditions like osteoarthritis. This operation entails extracting the impaired or diseased segments of the hip joint, which includes the femoral head and the affected socket, and substituting them with artificial components crafted from steel, plastic, or ceramic substances.
Furthermore, improvements in surgical techniques and substances have reinforced the resilience and lifespan of artificial hip joints, main to higher long-time period results and decreased times of additional surgical procedures.
Key Players Covered in the Hip Replacement Market are:
- 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)
- Braun Melsungen AG (Germany)
- Merete GmbH (Germany)
- Medacta International (Switzerland)
- MicroPort Scientific Corporation (China)
- Kyocera Corporation (Japan), and Other Major Players
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Global Hip Replacement Market Trend Analysis:
The worldwide marketplace for hip substitute has skilled large influence from the growing elderly populace across the globe. As demographics undergo a shift, the aging demographic turns into greater liable to degenerative joint conditions, specially osteoarthritis, which stands as a number one motive of hip joint degradation. This demographic shift has caused a huge surge in hip substitute surgical procedure requests.
Further bolstering the market's capability for increase. As healthcare systems persist in prioritizing cost-effective answers without compromising patient consequences, the adoption of outpatient hip substitute strategies is predicted to offer giant possibilities for expansion inside the global hip replacement marketplace.
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Segmentation of The Hip Replacement Market:
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
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.
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)
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Objectives Of The Study:
- To forecast the size of the market segments concerning 4 main regions, namely, North America, Europe, Asia Pacific (APAC)
- To provide detailed information regarding the major factors influencing the growth of the Hip Replacement Market (drivers, restraints, opportunities, and challenges)
- To analyze each submarket concerning individual growth trends, prospects, and contributions to the total market
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Competitive Analysis of the market in the report identifies various key manufacturers of the market. We do company profiling for major key players. The research report includes Competitive Positioning, Investment Analysis, BCG Matrix, Heat Map Analysis, and Mergers & Acquisitions. It helps the reader understand the strategies and collaborations that players are targeting to combat competition in the market. The comprehensive report offers a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the product portfolio, the global price of manufacturers, and production by producers during the forecast period.
What to Expect in Our Report?
(1) A complete section of the Global Hip Replacement Market report is dedicated for market dynamics, which include influence factors, market drivers, challenges, opportunities, and trends.
(2) Another broad section of the research study is reserved for regional analysis of the Global Hip Replacement Market where important regions and countries are assessed for their growth potential, consumption, market share, and other vital factors indicating their market growth.
(3) Players can use the competitive analysis provided in the report to build new strategies or fine-tune their existing ones to rise above market challenges and increase their share of the Global Hip Replacement Market.
(4) The report also discusses competitive situation and trends and sheds light on company expansions and merger and acquisition taking place in the Global Hip Replacement Market. Moreover, it brings to light the market concentration rate and market shares of top three and five players.
(5) Readers are provided with findings and conclusion of the research study provided in the Global Hip Replacement Market report.
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