Hip Replacement Global Market Report 2024

Description

“Hip Replacement Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on hip replacement market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for hip replacement? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The hip replacement market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Procedure: Total Hip Replacement; Partial Hip Replacement; Revision Hip Replacement; Hip Resurfacing
2) By Material: Metal-On-Metal; Metal-On-Polyethylene; Ceramic-On-Polyethylene; Ceramic-On-Metal; Ceramic-On-Ceramic
3) By End-User: Hospitals; Specialty Clinics; Ambulatory Surgery Centers
Companies Mentioned: Johnson & Johnson; Stryker Corporation; Smith & Nephew PLC; B. Braun Melsungen AG; ConforMIS Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Hip replacement is a surgical intervention wherein an orthopedic surgeon substitutes the compromised elements of the hip joint with new artificial ones, eliminating the diseased components. When conditions such as arthritis, avascular necrosis, or other issues lead to damage in the hip joint, hip replacement becomes a viable solution to alleviate pain and stiffness.

The primary types of hip replacement procedures include total hip replacement, partial hip replacement, revision hip replacement, and hip resurfacing. Hip hemiarthroplasty involves the replacement of the femoral head to address specific femoral neck fractures. Various materials, such as metal-on-metal, metal-on-polyethylene, ceramic-on-polyethylene, ceramic-on-metal, and ceramic-on-ceramic, are utilized by diverse end-users such as hospitals, specialty clinics, and ambulatory surgery centers.

The hip replacement market research report is one of a series of new reports from The Business Research Company that provides hip replacement market statistics, including hip replacement industry global market size, regional shares, competitors with a hip replacement market share, detailed hip replacement market segments, market trends and opportunities, and any further data you may need to thrive in the hip replacement industry. This hip replacement market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hip replacement market size has grown steadily in recent years. It will grow from $6.98 billion in 2023 to $7.32 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The expansion observed during the historical period can be ascribed to demographic patterns, a heightened occurrence of osteoarthritis, augmented awareness and education, reimbursement policies, and lifestyle modifications.

The hip replacement market size is expected to see strong growth in the next few years. It will grow to $9.04 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The anticipated growth in the forecast period can be linked to an increasing aging population, the prevalence of chronic conditions, improvements in global healthcare infrastructure, regulatory support, and patient preference for minimally invasive procedures. Key trends expected in the forecast period encompass technological advancements, a growing aging population, a rise in outpatient procedures, the emergence of personalized medicine and 3D printing, and the adoption of value-based healthcare.

The anticipated rise in the frequency of hip injuries is poised to drive the growth of the hip replacement market in the future. Hip injuries occur when one of the supporting muscles for the hip joint is either overstretched or damaged. Individuals with conditions such as arthritis, avascular necrosis, or other forms of hip joint deterioration may undergo hip replacement to alleviate hip pain and stiffness. Notably, in June 2021, the National Library of Medicine reported an estimated global incidence of 1.6 million hip fractures annually, with projections indicating an increase to 2.6 million by 2025 and 4.5 million by 2050. Hence, the surge in hip injuries is a significant factor propelling the expansion of the hip replacement market.

The escalating prevalence of obesity is also expected to contribute to the growth of the hip replacement market. Obesity, characterized by an excessive accumulation of body fat, can negatively impact health, causing hip joint issues. Hip replacement surgery emerges as a beneficial solution for obese individuals, offering pain relief, improved mobility, enhanced functionality, and an overall better quality of life. Additionally, obesity can lead to uneven pressure on hip joints, accelerating wear and tear. For instance, in May 2023, the Government Digital Service in the UK projected a 25.9% obesity rate among individuals aged 18 and older in 2021-2022, reflecting a 25.2% increase. Thus, the rising prevalence of obesity is a key driver of the hip replacement market.

Technological advancements represent a noteworthy trend gaining traction in the hip replacement market. Companies in this sector are adopting innovative technologies to maintain their market position. For example, in July 2022, Enovis, a US-based medical technology company, introduced ARVIS, an augmented reality technology designed to enhance both total hip and knee replacement surgeries. This technology provides surgeons with improved information and a more enhanced surgical experience, eliminating the need for intrusive and unnecessary equipment.

Major players in the hip replacement market are concentrating on developing innovative products such as the dual mobility system to boost their revenues. The dual mobility system is an artificial hip joint designed to minimize the risk of dislocation, commonly used in high-risk patients. In August 2023, Smith & Nephew plc, a UK-based medical equipment manufacturing company, launched the OR3O dual mobility system. This system features characteristics that simplify the dual mobility method, including easy acetabular cup selection and liner insertion and removal. The OR3O system incorporates an insert made of highly cross-linked polyethylene and an oxidized, diffusion-hardened zirconium acetabular liner (OR3O liner), utilizing the latest OXINIUM DH advanced bearing technology for enhanced stability.

In July 2022, Enovis, a US-based medical technology company, completed the acquisition of Insight Medical Systems, Inc for an undisclosed amount. This strategic acquisition aims to improve patient outcomes in orthopedic surgery by leveraging next-generation augmented reality surgical guidance. Insight Medical Systems, Inc., a US-based medical technology company, offers a fresh perspective on surgical procedures.

Major companies operating in the hip replacement market report are Johnson & Johnson, Stryker Corporation, Smith & Nephew PLC, B. Braun Melsungen AG, ConforMIS Inc., Exactech Inc., MicroPort Scientific Corporation, Zimmer Biomet Holdings Inc., Corin Group PLC, Gruppo Bioimpianti S.R.L., Integra LifeSciences, Kyocera Corporation, Medacta International, Merete GmbH, Colfax Inc., Globus Medical Inc., Microport Orthopedics Inc., DJO Global Inc., Waldemar Link GmbH & Co. KG, Athenahealth Inc., Peter Brehm GmbH, Synimed Synergie Ingenierie Medicale S.A.R.L., Elite Surgical Industries, Corentec Co. Ltd., Arthrex Inc., Baumer Holding AG, Evolutis, FH Ortho S.A.S, In2Bones Global Inc.

North America was the largest region in the hip replacement market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global hip replacement market report during the forecast period. The regions covered in the hip replacement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the hip replacement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The hip replacement market includes revenues earned by entities by partial hip replacement, hip revision surgery, hip arthroplasty, hip resurfacing, minimally invasive hip surgery, posterior hip replacement, and anterior hip replacement approaches. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11796

1. Executive Summary

2. Hip Replacement Market Characteristics

3. Hip Replacement Market Trends And Strategies

4. Hip Replacement Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Hip Replacement Market Size and Growth

5.1. Global Hip Replacement Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Hip Replacement Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Hip Replacement Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Hip Replacement Market Segmentation

6.1. Global Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Total Hip Replacement
Partial Hip Replacement
Rivision Hip Replacement
Hip Resurfacing
6.2. Global Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Metal-On-Metal
Metal-On-Polyethylene
Ceramic-On-Polyethylene
Ceramic-On-Metal
Ceramic-On-Ceramic
6.3. Global Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hospitals
Specialty Clinics
Ambulatory Surgery Centers

7. Hip Replacement Market Regional And Country Analysis

7.1. Global Hip Replacement Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Hip Replacement Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Hip Replacement Market

8.1. Asia-Pacific Hip Replacement Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Hip Replacement Market

9.1. China Hip Replacement Market Overview
9.2. China Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Hip Replacement Market

10.1. India Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Hip Replacement Market

11.1. Japan Hip Replacement Market Overview
11.2. Japan Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Hip Replacement Market

12.1. Australia Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Hip Replacement Market

13.1. Indonesia Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Hip Replacement Market

14.1. South Korea Hip Replacement Market Overview
14.2. South Korea Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Hip Replacement Market

15.1. Western Europe Hip Replacement Market Overview
15.2. Western Europe Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Hip Replacement Market

16.1. UK Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Hip Replacement Market

17.1. Germany Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Hip Replacement Market

18.1. France Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Hip Replacement Market

19.1. Italy Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Hip Replacement Market

20.1. Spain Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Hip Replacement Market

21.1. Eastern Europe Hip Replacement Market Overview
21.2. Eastern Europe Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Hip Replacement Market

22.1. Russia Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Hip Replacement Market

23.1. North America Hip Replacement Market Overview
23.2. North America Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Hip Replacement Market

24.1. USA Hip Replacement Market Overview
24.2. USA Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Hip Replacement Market

25.1. Canada Hip Replacement Market Overview
25.2. Canada Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Hip Replacement Market

26.1. South America Hip Replacement Market Overview
26.2. South America Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Hip Replacement Market

27.1. Brazil Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Hip Replacement Market

28.1. Middle East Hip Replacement Market Overview
28.2. Middle East Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Hip Replacement Market

29.1. Africa Hip Replacement Market Overview
29.2. Africa Hip Replacement Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Hip Replacement Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Hip Replacement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Hip Replacement Market Competitive Landscape And Company Profiles

30.1. Hip Replacement Market Competitive Landscape
30.2. Hip Replacement Market Company Profiles
- 30.2.1. Johnson & Johnson
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Stryker Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Smith & Nephew PLC
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. B. Braun Melsungen AG
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. ConforMIS Inc
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Hip Replacement Market Competitive Benchmarking

32. Global Hip Replacement Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Hip Replacement Market

34. Hip Replacement Market Future Outlook and Potential Analysis

34.1 Hip Replacement Market In 2028 - Countries Offering Most New Opportunities
34.2 Hip Replacement Market In 2028 - Segments Offering Most New Opportunities
34.3 Hip Replacement Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer