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 size was valued at USD 6.3 billion in 2019 and is poised to grow from USD 6.69 billion in 2023 to USD 10.8 billion by 2031, growing at a CAGR of 6.17% in the forecast period (2024-2031).

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.