Hip Replacement Market Size To Rake USD 10.8 Bn By 2030

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The global hip replacement market size exceeded USD 6.69 billion in 2022 and is projected to rake USD 10.8 billion by 2030, expanding at a CAGR of 6.17% from 2022 to 2030 with increased research and development of the hip replacement market.

The rapid adoption of the new technologies developed in the hip replacement market with improved performance in osteoporosis with the increasing prevalence of the arthritis disorder with an increasing number of populations enhances the market.

Increasing patients from the geriatric group with an increased number of sports and enhance interest from the individuals in the sports with increased arthritis pain and increased demand from the market for hip replacement and developed technologies in orthopedics with improved number of surgeries in osteoarthritis. Developing infrastructures in the orthopedics sector with increased features and enhanced performance from the surgery with increased results with benefits such as less period of time required for performing the surgery, reduced complications and long-lasting surgery in hip replacement drives the market growth.

Report Highlights:

• Based on product type, the total replacement type market enlarge the market of hip replacement with an increase in market growth and the highest revenue share which propels the market value during the forecast period. An increasing number of sports and an increase in participation of individuals in sports may led to injury, fracture, and ligament problems, with new innovative developed technologies in hip replacement with new integration of robotics systems may enhance the market growth of hip replacements.
• Based on applications in hip replacement metal-on-metal with high market share and increase in the revision of the total hip replacement may affect the market of hip replacement. Which enlarges the market growth with increasing market share in total hip replacement. Based on end users in hip replacement ambulatory surgical centers with the largest market value and increased demands for new techniques and technology with increasing surgery operations with increased arthritis pain with increasing disorders may strive the market growth of hip replacement with an increasing number of patients with orthopedics.
• Based on geographical sectors, North America with the largest market share with developed regions and enhance technologies in hip replacement with rising benefits such as improved reliability, and increased efficiency affects the market to grow to a larger extent with an increase in investment from the government from various regions and continuous research and developments may strive the market to grow with rising osteoarthritis in patients.
• Asia Pacific region to be the second highest market with a significant rise with high revenue share and increasing implantation in hip replacement and increasing geriatric population due to road accidents, increasing sports, and developing technologies and infrastructures in the health care sector.

Hip Replacement Market Report Scope:

Regional Snapshots:

The geographical sector with increasing population across various regions and an increasing number of populations with increasing rheumatoid disorder among the geriatric population and enhance arthritis pain with increasing interest in sports from the individual and increasing fracture and injury with increased requirements from the medical sector in orthopedics sector with an increase in requirement for the developed technologies and surgery with increased performance and reduce the arthritis pain. Integration of facilities developed in the health care sector with imposed policies from the government about reimbursement and common people also can take the benefit from the treatment with increased efficiency and efficacy and reduced pain strives the market oh hip replacement with increased arthroplasty in hip replacements which enhance the market growth to a larger extend.

Asia Pacific region with an increase in the prevalence of rheumatoid disorder and enhanced arthritis pain among the geriatric population with an increase in the number of road accidents, an increasing number of sports and increase participation from individuals in the sports and increased injury in individuals drives the market of hip replacement. Europe, Latin America, the Middle East and Africa also contribute in the market with rising developments in orthopedics surgery helps to boost the market growth during the forecast period.

Market Dynamics:

Drivers:

The advance developed technologies in hip replacement market with increased techniques in orthopedics surgery with increased efficiency of the treatment and improved results in hip replacement with reduced pain help to strive the market of hip replacement with increased demands from the health care sector, increase research and development from the key market players and increased investment for introducing new technologies helps to drive the market growth. Increased government initiative for developing new techniques in the orthopedics sector and introducing a number of policies such as reimbursement which helps the common people to take the benefit of the treatment and increase the market growth of hip replacement with an increased number of applications in the medical sector. The introduction of an advanced navigation system with an integrated robotics system in the surgery with improved results in operation enhances the market growth. The 3D-developed technology with 3D printing helps to perform the surgery with increased performance in surgery, reduced time, and reduced complications in hip replacement. 

Restraints:

Lack of awareness among the people regarding development of the hip replacement in underdeveloped regions may hamper the market growth of hip replacement. Enhancing rules and regulations in the implantation of hip replacement surgery may alter the market of hip replacement. Increasing developed technologies in hip replacement which led to increased cost of the surgery may restrain the market growth during the forecast period. Less developed infrastructure in hip replacement may challenge the market growth in the medical sector.

Opportunities:

The developing regions with improved technologies in hip replacement and increased performance with reducing arthritis pain and increase in demand from the market strives the market of hip replacement. Research and development activities in introducing new surgery with increased performance and continuous research with investment from the market players propels the market with enhanced innovations extending the market growth to a larger height. Enhance internet connectivity with an improved cloud system and integration of robots in hip replacements with increased demands for new techniques. The government interest in developing hip replacement with increased funding from the government for new innovative surgery helps to drive the market of hip replacement.

Challenges:

The increasing cost of hip replacement techniques with increased innovations and new technologies may hamper the market growth. The existing hip replacement techniques with developed surgery operations available in hip replacement can challenge the market growth of hip replacement. Lack of skill among the population regarding new developments in hip replacement and lack of knowledge in performing the surgery may affect the market of hip replacement during the forecast period.

Recent Developments:

• In July 2021, Increased hip replacement with enhance revision and with increased profit was developed by the Medacta company.
• In August 2021, Zimmer Biomet Holding, Inc., with clearance of 510K with the robotic system in Rosa Hip System and developed a total hip replacement.

Major Key Players

• B.Braun Melsungen
• Microport Scientific Corporation
• Conformis
• Gruppo Bioimpianti s.r.l
• Eaxctech, Inc
• Styker
• Smith & Nephew
• DePuy Synthes Companies
• Zimmer Biomet
• Athenahealth, Inc
• Peter Brehm GmbH
• Medacta International
• Integra Lifesciences Corporation
• Group FH Ortho communication
• Synergie Ingeniere Medicale
• Elite Surgical
• Corentec Co., Ltd
• Arthrex, Inc
• Waldemer Link GmbH

Market Segmentation:

By Product Type

• Primary hip reconstruction devices
  • Cemented primary hip reconstruction surgeries
  • Cementless primary hip reconstruction surgeries
• Partial hip reconstruction surgeries
  • Cemented partial hip
  • Cementless partial hip
• Hip resurfacing surgeries
• Revision hip reconstruction
• Total replacement

By Application

• Metal-on-metal
• Metal-on-polyethylene
• Ceramic-on-polyethylene
• Ceramic-on-metal
• Ceramic-on-ceramic

By End User

• Hospitals
• Speciality Clinics
• Ambulatory Surgery Centres

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