Hip Replacement Implants Market would rocket up to USD 9,156.78 million by 2030
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The increasing number of younger individuals suffering from degenerative diseases is estimated to have a huge impact on revenue during the forecast period 2022-2029. As per a report by Osteoarthritis Research Society International, about 130 million people worldwide will suffer from osteoarthritis by 2050. It was witnessed that total hip implants held the largest market share for many days due to the increasing demand for minimally invasive surgeries and ongoing technological advancements.
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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.
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.
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
Hip Replacement Implants Market Scope and Segmentation
| REPORT METRIC | DETAILS |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historic Years | 2021 (Customizable to 2015-2020) |
| Quantitative Units | Revenue in USD Million, Volumes in Units, Pricing in USD |
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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.)
Hip Replacement Implants Market Scope
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
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
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Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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