The global Hip Replacement Devices market size is predicted to grow USD 6.34 billion by 2025 from USD 5.42 billion in 2020. It is estimated to be growing at a CAGR of 3.2% during the forecast period.
A hip replacement is an invasive surgical procedure used to remove a diseased or fractured hip joint and replace it with an artificial joint or prosthesis. Osteoarthritis is one of the most common factors for hip diseases. Structures within the hip (such as the cartilage or bony joint surfaces) may get damaged due to overuse, trauma, or certain conditions, such as rheumatoid arthritis, tumors, etc. It may lead to degenerative changes within the hip, which can lead to osteoarthritis.
The steady growth of the hip replacement implant market is attributed to the rising geriatric population, increasing incidences of accidents, and the increasing prevalence of osteoarthritis. Technological advancements in the field of the artificial hip implants resulting in new and innovative products such as mobile-bearing hip implants and various material combination implants have increased the leg's mobility and flexibility. These innovations have also reduced the side effects of artificial implants, thereby augmenting their demand.
An increased account of hip fracture pelvis and hip osteoarthritis has led to an increase in the rate of hip surgery in the geriatric and young population, favorable compensation scenario, and technological progress are the major factors responsible for the growth of hip replacement market. The other significant factors that are boosting the market at a constant rate are growing awareness of health among the people and the increased spending of the population, reduction of hospital stay, and reduction of rehabilitation time, which are amplifying the development of the market across the world.
The factors limiting the growth of the hip replacement market are the pressure of costly procedures and inclined prices of equipment, the risk of complications after surgery, and the waiting time for hospital surgery. However, price pressure, risk of complications after surgery, and waiting time for surgery in hospitals are major hindering factors.
REPORT COVERAGE
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Covered |
By Type, Production Technologies and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global hip replacement devices market segmented and sub-segmented based on the type, production technologies and region.
Hip Replacement Devices Market - By product
Based on the product, the total replacement segment has been contributing a significant share of revenues. It is projected to dominate the market during the forecast period due to increased total hip replacement procedures. The rapid integration of robots for total hip replacement Products are anticipated to boost the hip replacement devices market during the forecast period.
The partial hip replacement market is growing rapidly at a high pace owing to factors such as increasing preference for partial replacement surgeries, the increase in the prevalence of osteoarthritis of the hip, and the launch of new products. The growing needs for a post-implant revision review procedure and a shift to hip replacement are also contributing factors to hip revision and incubation development.
Hip Replacement Devices Market - By Material
Hip Replacement Devices Market - By End-user
Based on end-user, in terms of revenue, hospital and ambulatory surgeries accounted for the largest market share in 2019 and are expected to grow further during the forecast period owing to an increase in the number of hip surgeries in the hospital, favorable health policies in developing countries and rapid adoption of robots in replacement surgeries.
Hip Replacement Devices Market - By Region
Regionally, the global hip replacement devices market was dominated by North America, followed by Europe. The Asia Pacific is expected to register significant growth.
North America is leading the market by contributing the significant share of revenues and is likely to continue dominating the market and expand further during the forecast period owing to the market boosting factors such as the increase in the number of hip joints and the increase in strategic partnerships between the key players in this region.
NOTABLE COMPANIES IN THE MARKET
Key market participants dominating the Global Hip Replacement Devices Market profiled in this report are Bayer HealthCare AG, Bioniche Animal Halth Canada, Sanofi Animal Health, Inc., Biogenesis Bago SA, Heska Corporation, Indian Immunologicals Ltd., Boehringer Ingelheim GmbH, Zoetis, Novartis Animal Health, Inc., Merck & Co. Inc. and Protein Sciences,
RECENT MARKET HAPPENINGS
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 Total
5.1.3 Fixed
5.1.4 Mobile bearing
5.1.5 Partial hip replacement
5.1.6 Hip resurfacing
5.1.7 Revision hip replacement
5.1.8 Y-o-Y Growth Analysis, By Product
5.1.9 Market Attractiveness Analysis, By Product
5.1.10 Market Share Analysis, By Product
5.2 Material
5.2.1 Introduction
5.2.2 Metal on metal
5.2.3 Metal on polyethylene
5.2.4 Ceramic on metal
5.2.5 Ceramic on polyethylene
5.2.6 Ceramic on ceramic
5.2.7 Y-o-Y Growth Analysis, By material
5.2.8 Market Attractiveness Analysis, By material
5.2.9 Market Share Analysis, By material
5.3 End user
5.3.1 Introduction
5.3.2 Ambulatory surgical centres
5.3.3 Hospitals
5.3.4 Orthopaedic clinics
5.3.5 Y-o-Y Growth Analysis, By end user
5.3.6 Market Attractiveness Analysis, By end user
5.3.7 Market Share Analysis, By end user
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By material
6.1.3.4 By end user
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By material
6.1.4.4 By end user
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By material
6.1.5.4 By end user
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 B. Braun Melsungen AG
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Exactech, Inc.
8.3 DJO Global, Inc.
8.4 Johnson & Johnson
8.5 MicroPort Scientific Corporation
8.6 OMNIlife science, Inc.
8.7 Smith & Nephew
8.8 Zimmer Biomet Holdings, Inc.
8.9 Cytori Therapeutics
8.10 Stryker Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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