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).
A Hip Replacement, additionally referred to as hip arthroplasty, is a surgical treatment wherein a broken or tired hip joint is changed with an artificial joint, known as a prosthesis. This process is typically achieved to alleviate aches and enhance mobility in individuals with excessive hip arthritis or other conditions that motivate great hip joint damage. Hip alternative, cited medically as total hip arthroplasty, is a surgical intervention designed to reduce ache and enhance movement for people experiencing substantial hip joint damage or situations like osteoarthritis.
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:
Rising Geriatric Population
The international marketplace for hip alternative has experienced big have an effect on from the increasing aged population across the globe. As demographics go through a shift, the aging demographic turns into more vulnerable to degenerative joint conditions, in particular osteoarthritis, which stands as a primary reason of hip joint degradation. This demographic shift has led to a massive surge in hip substitute surgery requests.
Growing Demand for Outpatient Surgery
The increasing preference for outpatient surgical procedure, particularly within the realm of hip substitute operations, stands as a huge opportunity within the international hip substitute marketplace. This fashion in most cases stems from concerted efforts within healthcare systems to control expenses whilst upholding superior patient care standards.
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- Patent Analysis
- Regulatory Framework
- Technology Roadmap
- BCG Matrix
- Heat Map Analysis
- Price Trend Analysis
- Investment Analysis
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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
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)
Global Hip Replacement Market Regional Insights:
North America Region Dominate the Market
North America remained a dominant force in the international hip alternative marketplace, representing a widespread percentage. The area's prominence became attributed to numerous factors, such as a strong healthcare infrastructure, technological advancements, a rising geriatric populace, and excessive healthcare expenditure.
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.
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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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