The size of the Hip replacement devices Market in Europe was worth USD 1.62 billion in 2022 and estimated to be growing at a CAGR of 3.2%, to reach USD 1.90 billion by 2027.
One of the key drivers promoting the hip replacement devices market in the European region is the growing senior population and vulnerability to numerous bone health conditions. Furthermore, the rising prevalence of osteoarthritis. In addition, demand for partial replacement operations is increasing. In the next few years, this, together with the introduction of robot-assisted hip implants, will help raise hip replacement market share. Furthermore, the expansion of the European hip replacement devices market is expected to be aided by an increase in the number of specialist care centers and rising obesity rates.
Furthermore, the market is expected to be driven by an increased patient population, a rise in demand for personalized hip implants, and a surge in government initiatives. The growing number of hip fractures, hip osteoarthritis, advantageous reimbursement conditions, and technical improvements contribute to the market's growth. Furthermore, the introduction of non-metal materials such as polymer and ceramic is predicted to aid in the resolution of issues connected with traditional devices, such as increased metallic ions in the bloodstream of patients and implant deterioration over time. The use of modern operating procedures has reduced the duration of time spent in the hospital following full hip replacement surgery. The market is also likely to be driven by the increasing adoption of minimally invasive method operations and rising healthcare expenditure. Furthermore, the emergence of robot-assisted surgery has wholly altered the situation. Hospitals and specialty clinics are rapidly adopting technology.
However, the market's growth is expected to face severe problems such as a scarcity of competent medical professionals and doctors and a lack of norms and protocols. Additionally, during the forecast period, increased awareness of alternative treatments is expected to slow growth. Furthermore, pricing pressure, hip dislocation, the danger of complications following surgery, and the time it takes for surgery in hospitals are all possible restrictions on the hip replacement devices market's overall growth.
This research report on the European hip replacement devices market has been segmented and sub-segmented into the following categories:
Geographically, due to the growing demand for personalized implants and an increase in the number of procedures, the market for a hip prostheses in Europe is expected to grow. According to the Organization for Economic Cooperation and Development, the number of replacement surgeries has increased in Switzerland, Germany, Italy, and France. The rising number of hip fractures, hip osteoarthritis, advantageous reimbursement conditions, and technical improvements contribute to the market's growth. Furthermore, rising health awareness among the general public and an increase in the population's spending capacity are moving the industry forward. One of the most important trends in the hip replacement market is using online resources for patients who have had hip surgery. Healthcare organizations are rapidly expanding their programs, and growing knowledge of online resources is expected to provide the industry with lucrative growth potential. In recent years, patients have begun to use web-based technologies and online resources to learn more about specific diseases. Joint replacement is where various online solutions are introduced to assist patients with their procedures, communication with orthopedic physicians, and post-surgery information.
KEY MARKET PLAYERS:
Companies playing a significant role in the European hip replacement market are B. Braun Melsungen AG, Exactech, Inc., DJO Global, Inc., Johnson & Johnson, MicroPort Scientific Corporation, OMNIlife science, Inc., Smith & Nephew, Zimmer Biomet Holdings, Inc., and Stryker Corporation.
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