USD 6.3 billion
Hip Replacement Market Size, Share, Growth Analysis, By Procedure (Total Hip Replacement, Partial Hip Replacement), By Material (Metal-On-Metal, Metal-On-Polyethylene), By End User (Hospitals, Orthopedic Clinics), By Region - Industry Forecast 2025-2032
Report ID:
SQSG35E2005 |
Region:
Global |
Published Date: December, 2024
Pages:
165
|Tables:
63
|Figures:
75
Hip Replacement Market Insights
Hip Replacement Market size was valued at USD 6.69 Billion in 2023 and is poised to grow from USD 7.1 Billion in 2024 to USD 11.47 Billion by 2032, growing at a CAGR of 6.17% during the forecast period (2025-2032).
The frequency of osteoarthritis is constantly growing and has become an economic burden in many nations throughout the world. Hip osteoarthritis causes joint degradation and can be addressed by hip arthroplasty. A hip prosthesis replaces the injured cartilage and bone component in hip surgery. The treatments are becoming more common as a result of the ageing population, active government assistance, and improved patient information on replacement surgery. This, in turn, has a beneficial influence on product demand.
One of the important trends driving the growth of the hip replacement market is the introduction of online resources for patients who have had hip surgery. Healthcare companies are rapidly expanding their programmes, and rising knowledge of online resources is expected to provide the hip replacement market with attractive development potential. In recent years, people have begun to use web-based tools and online resources to learn more about certain ailments. One such field is joint replacement, which has seen the emergence of various online applications to assist patients throughout their procedures, communicate with orthopaedic specialists, and give post-surgery information.
US Hip Replacement Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Total Hip
Fastest Growth
Partial Femoral Head
Growth Rate
5.7% CAGR
Global Hip Replacement Implants Market ($ Bn)
Country Share for North America Region (%)
Country Share for Europe Region (%)
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Hip Replacement Market Segmental Analysis
Global Hip Replacement Market is segmented by procedure, material, end user and region. Based on procedure, the market is segmented into total hip replacement, partial hip replacement, revision hip replacement and hip resurfacing. Based on material, the market is segmented into metal-on-metal, metal-on-polyethylene, ceramic-on-polyethylene, ceramic-on-metal and ceramic-on-ceramic. Based on end user, the market is segmented into hospitals, orthopedic clinics and ambulatory surgery centers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Hip Replacement Market Analysis by Procedure
Because of the rise in total hip arthroplasty, the complete replacement sector is expected to dominate the hip replacement market by 2020. This, together with the fast use of robots for THA (Entire Hip Arthroplasty) surgeries, is expected to propel the total segment throughout the estimated timeframe. The growing desire for partial replacement procedures, the rising prevalence of hip osteoarthritis, and new product introductions are all factors contributing to the partial replacement segment's strong rise. The increasing need for revision procedures due to the wear and tear of previously implanted products, as well as the move toward hip resurfacing, are important drivers driving revision and hip resurfacing growth.
Hip Replacement Market Analysis by Application
The market is divided into three segments based on end-user: orthopaedic clinics, hospitals & ambulatory surgical centres (ASCs), and others. In terms of revenue, hospitals and ambulatory surgical centres dominated the market in 2022. This is due to an increase in hospital procedures, attractive health reimbursement, and the growing deployment of robots for replacement surgery. The orthopaedic clinics sector is expected to grow throughout the forecast period because to an increase in the number of orthopaedic surgeons and outpatient replacement surgery.
Global Hip Replacement Implants Market By Product
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Hip Replacement Market Regional Insights
In 2022, the North American Hip Replacement market had a revenue share of more than 35%. Furthermore, throughout the projection period, North America is expected to lead the market. The rising number of hip Arthroplasty procedures and increased strategic partnerships among leading companies are the primary drivers of market development in North America. The market for hip prosthesis in Europe is expected to grow due to favourable health reimbursement, rising desire for personalised implants, and an increase in the number of procedures. The Asia Pacific market is expanding quicker as a result of factors such as manufacturers' collective attempts to create a presence in the Asia Pacific through a direct or indirect distribution network, as well as the launch of new goods.
Global Hip Replacement Implants Market By Region
- Largest
- Fastest
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Hip Replacement Market Dynamics
Hip Replacement Market Driver
Favourable Health Insurance Reimbursement to Drive hip replacement market Growth
- Adequate health coverage and health reimbursement policy change for joint replacement surgeries are expected to drive demand for hip implants. The governments of various nations have created various health reimbursement programmes for joint replacement procedures in order to provide inexpensive and high-quality treatment to all citizens. As a result, the number of persons receiving hip arthroplasty has increased, boosting the market.
Rapid Adoption of Customized Hip Prostheses to Drive Market Growth
- The market for hip arthroplasty implants is expected to grow in response to rising demand for personalised implants for both men and women. Because each patient has a unique anatomy, implant sizes vary. For patient-specific implants, several manufacturers are focused on 3D printing technology. The use of 3-D printing technology to make orthopaedic implants resulted in a massive increase in the number of personalised implants. Many orthopaedic firms are creating cutting-edge technology that may be utilised to provide technically sophisticated replacement prostheses, which is expected to benefit the industry.
Hip Replacement Market Restraint
Hip Replacement Device Lawsuits and Product Recalls Will Slow Market Growth
- The number of replacement surgeries is rapidly increasing. However, problems associated with the usage of the implant are a prominent factor that will most certainly stymie worldwide market expansion in the next years. According to the claims, the device faults caused substantial negative effects in victims. Allergic reactions, metal poisoning, infection, and bone loss are all possible adverse effects. Furthermore, large product recalls of hip and knee replacement systems for major key companies throughout the world are expected to stymie market expansion in the future years.
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Hip Replacement Market Competitive Landscape
According to our research, In terms of hip replacement market revenue, Zimmer Biomet, DePuy Synthes, and Stryker led the way globally. Due to increasing sales of the company's hip implants, Zimmer Biomet had the largest market share. DePuy Synthes and Stryker, on the other hand, have a strong sales force, a focus on both organic and inorganic growth, and strategic alliances as the main reasons for their leadership positions.
Furthermore, prominent manufacturers are always improving their goods in order to attract new clients and increase their Procedure range in order to enhance their market position in all key nations. Aside from that, rising public and private support for specialized research provide market participants with profitable options. Furthermore, the increasing number of Procedure approvals, current implant developments, and technical improvements are some of the other aspects expected to contribute to a positive market outlook.
Top players in Global Hip Replacement Market are
- Zimmer Biomet (USA)
- DePuy Synthes (Johnson & Johnson) (USA)
- Stryker (USA)
- Smith & Nephew (UK)
- MicroPort Scientific Corporation (China)
- B. Braun Melsungen AG (Germany)
- Corin Group (UK)
- Exactech (USA)
- Wright Medical Group (USA)
- Integra LifeSciences (USA)
- Globus Medical (USA)
- DJO Global (USA)
- Medtronic (Ireland)
- Arthrex (USA)
- Lima Corporate (Italy)
- Orthex (Sweden)
- Conformis (USA)
- Tornier (USA)
- Aesculap AG (Germany)
- Smith & Nephew (UK)
Hip Replacement Market Recent Developments
- In July 2021, Medacta has announced an extension of their hip revision Portfolio. The AMIS(R)-K Long, Iliac Screw Mpact 3D Metal, and 3D Metal(R) B-Cage were used in the first operations. These items, together with the M-Vizion Modular Femoral Revision Stem, expand the Medacta Hip Revision Platform.
- In August 2021, Zimmer Biomet Holdings, Inc., a global medical technology business, announced that the ROSA Hip System has gained 510(k) approval from the US Food and Drug Administration (FDA) for robotically assisted direct anterior total hip replacement.
Hip Replacement Key Market Trends
- The growing elderly population promotes the growth of the Hip Replacement Market. According to Eurostat, the European Union's statistical agency, more than 20.8% of the EU population will be 65 or older in 2021. Because of wear and strain and bone degeneration, the elderly is more vulnerable to orthopaedic disorders and injuries. Furthermore, because to reduced bone density and a weak ability to rebuild bones, elderly adults are more prone to bone fracture.
- The federal government's increased spending is expected to fuel the market's growth pace. Furthermore, the rise and expansion of the healthcare business, driven by both public and private actors, will generate attractive market growth prospects, particularly in developing nations. Furthermore, the high return on investment guaranteed by research efforts will benefit the industry.
Hip Replacement Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, Increased public-private funding for targeted research activities, rising levels of hospital data, a growing geriatric population base, and rising product innovations and development as a result of technological advancements all over the world will provide profitable opportunities for market players from 2022 to 2028. Furthermore, the increasing number of strategic collaborations, rising internet penetration rate, increasing number of hospitals and laboratories, increasing number of younger individuals suffering from degenerative diseases, and rising per capita expenditure on health care will all contribute to the market's future growth rate.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 6.3 billion |
| Market size value in 2031 | USD 10.38 billion |
| Growth Rate | 5.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hip Replacement Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hip Replacement Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Hip Replacement Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hip Replacement Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hip Replacement Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hip Replacement Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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