Hip Replacement Market Size, Share, Growth Analysis, By Procedure(Total, Partial, Revision & Hip Resurfacing), By End-use(Hospitals & Ambulatory Surgery Centres, Orthopaedic Clinics, Others), By Region - Industry Forecast 2024-2031

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.