The hip replacement implants market size in Europe is expected to be worth USD 2.63 billion by 2027 from USD 2.19 billion in 2022, growing at a CAGR of 3.66% from 2022 to 2027.
The growing geriatric population across the European region is one of the key factors propelling the hip replacement implants market growth in Europe. With increasing age, people experience issues with hips and joints, which need to be treated. Osteoarthritis is a chronic condition of arthritis, a disorder that results in difficulty in the smooth movement of the hips. It is mainly seen in people aged over 50 years and mostly in men. Furthermore, the growing prevalence of obesity, increasing consumption of alcohol, smoking, and growing incidence of injuries is expected to boost the hip replacement implants market in Europe. Obesity, excessive consumption of smoking and alcohol, and specific injuries can result in hip-related disorders.
The growing manufacturing activities of hip replacement implants in the European region are expected to boost regional market growth. In the current times, the key market participants are using various materials for manufacturing hip replacement implants to increase durability. The manufacturers are trying to develop hip prosthetics with ceramic, metal, and others.
The growing R&D activities of hip replacement implants are estimated to fuel the market’s growth rate. However, hip replacements may fail due to the prosthesis becoming loose. To overcome this issue, manufacturers are researching and finding ways to prevent critical situations after implantation, like adopting a sensor that indicates to the healthcare provider when the implant is lost, promoting the procedure's safety. In addition, the manufacturing of personalized hip replacement devices according to the body structure of the people is expected to boost the market growth in Europe.
Furthermore, the growing number of awareness programs by the governments of the European countries and the key market players are anticipated to promote the market’s growth rate in Europe. Owing to the growing number of hip replacement cases, key market players have been conducting several programs to spread awareness regarding the surgery process and the cost to those considering hip replacement implant surgeries. They also provide video information to convey the benefits of surgeries for uneducated people and provide some reimbursement policies to aid the regional market growth.
On the other end, high costs associated with hip replacement surgical procedures are one of the primary restraints to European market growth. In addition, the lack of proper infrastructure facilities, lack of product approvals for the devices, and lack of awareness regarding hip replacement surgeries are hindering European market growth. Furthermore, one of the major complications in hip implant surgery is that a hip implant must fit accurately, or there is a risk of slipping and displaced hip, which is expected to showcase a negative impact on the market growth in Europe during the forecast period.
This research report on the European hip replacement implants market has been segmented into the following categories.
By Product:
By Application:
By End-Use:
By Country:
The European market is one of the promising regional markets for hip replacement implants worldwide. It is anticipated to hold a considerable share of the worldwide market during the forecast period. Several design types and materials have been developed in the European region due to the increasing number of hip replacement surgeries.
The German hip replacement implants market accounted for the leading share of the European market in 2021 and is anticipated to showcase a healthy CAGR during the forecast period owing to the increasing number of product approvals and the growing success rate of hip replacement surgeries. According to a survey in Germany in 2019, nearly 174 people per 100,000 have undergone hip replacement surgery, which demands market growth in this region. As a result, nearly 200,000 people receive a prosthetic hip in Germany every year, increasing the quality of life of those affected people.
The UK is another potential market for hip replacement implants in the European market. It is predicted to witness a promising CAGR during the forecast period owing to the growing number of people having hip replacement surgeries each year. In the United Kingdom alone, nearly 90,000 patients receive hip replacement surgery annually. In addition, various types of hip replacement treatments are available in the UK, favoring the market growth in the UK. As a result, the increasingly high success rate and availability of the different types of surgeries in hip replacement aid the UK market growth.
KEY MARKET PLAYERS:
B. Braun Melsungen AG, ConMed Corporation, Aesculap Implant Systems, LLC, DJO Global, Inc., OMNIlife Science, Inc., Exactech, Inc., MicroPort Scientific Corporation, Smith & Nephew plc, Stryker Corporation, Johnson & Johnson and Zimmer Biomet are some of the notable companies in the European hip replacement implants market.
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