- Total Hip Replacement Implants
- Partial Hip Replacement Implants
- Resurfacing Implants
- Revision Hip Replacement Implants
Hip Replacement Market size was valued at USD 5.74 billion in 2021, growing at a CAGR of 4.4% during the forecast period 2022-2028. A hip replacement implant is a common operation that addresses hip joint stiffness. The four types of total hip replacement include primary hip reconstruction, partial hip reconstruction, hip resurfacing, and revision hip implants. Fixed-bearing total hip implants and mobile-bearing total hip implants are the two types of total hip replacement implants. The global hip replacement market in recent times has become mature market in developed regions, where the hip replacement devices have become commoditized with several players are need to provide low priced products in order to sustain the market position, this is expected to improve the adoption rate of devices over the short term and projected to drive market value and volume of hip replacement market growth over the forecast period. Moreover, favourable reimbursement policies are expected to drive the market revenue growth positively over a short-term period. This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the market report includes technology advancements; regulatory scenario and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed hip replacement market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and unmet needs (Product Opportunities).Â For instance, in U.S, the hip and knee replacement cost to Medicare is more than USD 7 Bn in hospital cost.
Fastest Growing Market
The growing baby-boomers and geriatric populations who are at risk of hip or joint fracture expected to drive the market demand hip replacement devices over the forecast period. Moreover, increasing incidence of hip fractures and injuries creating ample growth opportunities for the players operating in the hip replacement market, this is expected to drive the market revenue growth over the forecast period. For Instance, in 2016, according to World Bank population statistics, population ages 65 and above is estimated to be around 8.5% of total population and projected to increases geriatric population over the forecast period, which in turn affect the market growth positively.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
7. Global Hip Replacement Market Forecast, By End User Analysis, 2013 - 2017 and Forecast, 2018 - 2024