Hip Replacement Market By Product Type (Total Hip Replacement Implant, Partial Hip Replacement Implant, Resurfacing Implant, and Revision Hip Replacement Implant), By End-User (Hospitals, Orthopedic Clinics, and Ambulatory Surgical Centers (ASC)), and Geography  

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Hip Replacement Market was valued at USD 5,856.3 million in 2022 and is anticipated to grow at a CAGR of 4.7 % over 2023-2029. The hip replacement implants market refers to the medical devices used in hip replacement surgeries, also known as total hip arthroplasty, which is a surgical procedure that involves replacing a damaged or diseased hip joint with prosthetic implants to relieve pain and restore joint function. The market for hip replacement implants includes various components, such as femoral stems, acetabular cups, femoral ball, liners, and other associated materials and instruments. The demand for hip replacement implants is primarily driven by the growing prevalence of conditions like osteoarthritis, rheumatoid arthritis, and hip fractures, which often require surgical intervention. For instance, according to CDC, from 2016 to 2018, approximately 58.5 million US population were diagnosed with arthritis and 25.9% of the total adult population, or 78.4 million adults 18 years of age and older, will have arthritis by 2040. This increasing prevalence of arthritis is the major factor for the rising demand for hip replacement surgeries. Moreover, reasons including an aging population and improvements in surgical methods create significant opportunities for the growth of the hip replacement implants market.

However, concerns associated with expensive implants and surgical procedures negatively impact the growth of these markets. Furthermore, patient-specific implants, robotic and computer-assisted navigation systems for hip replacement procedures, and cementless hip implants are some of the major developments influencing market growth and development. Numerous implant manufacturers are forming collaborations and engaged in research and development to develop innovative implant technologies, which further contribute to the market growth. For instance, in August 2022 Exactech, a prime leader and provider of novel implants, instrumentation, and smart technologies for joint replacement surgery launched the Spartan Stem and Logical Cup System for total hip arthroplasty.

Hip Replacement Market Key Developments:

  • In September 2022, Smith+Nephew, launched its OR3O Dual Mobility System for use in primary and revision hip arthroplasty (hip replacement surgery) in Japan, which offer increased stability and strength, reduced dislocation risk and improved range of motion.
  • In July 2022, Enovis, launched Augmented Reality Visualization and Information System (ARVIS), a real-time, hands-free augmented reality (AR) technology specifically designed for orthopedic surgeons, to enable them visualize accurate instructions while performing hip and knee surgery.

Global Hip Replacement Market Summary

Study Period

2023-29

Base Year

2022

CAGR

4.4%

Largest Market

North America

Fastest Growing Market

Asia Pacific
Hip Replacement Market Dynamics

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.

Key Features of the Reports

  • The hip replacement market report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Global Hip Replacement Market Segmentation

By Product Type
  • Total Hip Replacement Implants
  • Partial Hip Replacement Implants
  • Resurfacing Implants
  • Revision Hip Replacement Implants
By End User
  • Hospitals
  • Orthopedic Clinics
  • Ambulatory Surgical Centers (ASC)

Frequently Asked Questions

The hip replacement market size was valued at USD 5,856.3 million in 2022

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).

The hip replacement market key players are Braun Melsungen AG (Germany) Corin (U.K.) DePuy Synthes (U.S.) Exactech Inc. (U.S.) Microport Scientific Corporation (China) Smith & Nephew (U.K.) Stryker (U.K.) Waldemar LINK GmbH & Co. KG (Germany)

  1. Research Methodology
    • Secondary and Primary research
      • Secondary Sources
      • Primary Sources
    • Market Revenue Estimation Methodology
    • Key Assumptions
    • Acronyms
  2. Scope of Study
    • Market Definition
    • Objective of the Research
    • Regions covered in the study
  3. Executive summary
  4. Global Hip Replacement Market Dynamics
    • Drivers
      • Economic Drivers
      • Demand Side Drivers
      • Supply Side Drivers
    • Restraints
    • Opportunities/Unmet Needs of the Market
    • Trends
  5. Unique Features of the Report
    • Competition analysis
    • Regulatory landscape
    • PESTLE analysis
    • Porter’s analysis
  6. Global Hip Replacement Market Analysis, By Product Type, 2018 - 2022 and Forecast, 2023 - 2029
    • Total Hip Replacement Implants
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Partial Hip Replacement Implants
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Resurfacing Implants
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Revision Hip Replacement Implants
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%)

7. Global Hip Replacement Market Forecast, By End User Analysis, 2018 - 2022 and Forecast, 2023 - 2029

    • Hospitals
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Orthopedic Clinics
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Ambulatory Surgical Centers (ASC)
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%)

8. Hip Replacement Market Analysis, By Region, 2018 - 2022 and Forecast, 2023 - 2029

    • North America Hip Replacement Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029
      • Product Type Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
        • Total Hip Replacement Implants
        • Partial Hip Replacement Implants
        • Resurfacing Implants
        • Revision Hip Replacement Implants
      • End User Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
        • Hospitals
        • Orthopedic Clinics
        • Ambulatory Surgical Centers (ASC)
      • Country Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
        • US
        • Canada
      • Europe Hip Replacement Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029
        • Product Type Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
          • Total Hip Replacement Implants
          • Partial Hip Replacement Implants
          • Resurfacing Implants
          • Revision Hip Replacement Implants
        • End User Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
          • Hospitals
          • Orthopedic Clinics
          • Ambulatory Surgical Centers (ASC)
        • Country Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and
  1. Y-o-Y Growth (%)
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Poland
    • Rest of Europe
  • Asia-Pacific Hip Replacement Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029
    • Product Type Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
      • Total Hip Replacement Implants
      • Partial Hip Replacement Implants
      • Resurfacing Implants
      • Revision Hip Replacement Implants
    • End User Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
      • Hospitals
      • Orthopedic Clinics
      • Ambulatory Surgical Centers (ASC)
    • Country Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and
  1. Y-o-Y Growth (%)
    • Japan
    • China
    • India
    • ASEAN
    • Australia & New Zealand
    • Rest of Asia-Pacific
  • Latin America Hip Replacement Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029
    • Product Type Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
      • Total Hip Replacement Implants
      • Partial Hip Replacement Implants
      • Resurfacing Implants
      • Revision Hip Replacement Implants
    • End User Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
      • Hospitals
      • Orthopedic Clinics
      • Ambulatory Surgical Centers (ASC)
    • Country Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and
  1. Y-o-Y Growth (%)
    • Brazil
    • Mexico
    • Argentina
    • Venezuela
    • Rest of Latin America
  • Middle East & Africa (MEA) Hip Replacement Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029
    • Product Type Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
      • Total Hip Replacement Implants
      • Partial Hip Replacement Implants
      • Resurfacing Implants
      • Revision Hip Replacement Implants
    • End User Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
      • Hospitals
      • Orthopedic Clinics
      • Ambulatory Surgical Centers (ASC)
    • Country Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
      • Gulf Cooperation Council (GCC) Countries
      • Israel
      • South Africa
      • Rest of MEA
  1. Competition Landscape
    • Strategic Dashboard of Top Market Players
    • Company Profiles (Introduction, Financial Analysis, Product & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
      • Braun Melsungen AG (Germany)
      • Corin (U.K.)
      • DePuy Synthes (U.S.)
      • Exactech Inc. (U.S.)
      • Microport Scientific Corporation (China)
      • Smith & Nephew (U.K.)
      • Stryker (U.K.)
      • Waldemar LINK GmbH & Co. KG (Germany)
      • Zimmer Inc. (U.S.)
  2. Research Methodology
  3. Key Assumptions and Acronyms
  • Braun Melsungen AG (Germany)
  • Corin (U.K.)
  • DePuy Synthes (U.S.)
  • Exactech Inc. (U.S.)
  • Microport Scientific Corporation (China)
  • Smith & Nephew (U.K.)
  • Stryker (U.K.)
  • Waldemar LINK GmbH & Co. KG (Germany)
  • Zimmer Inc. (U.S.)