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Hip Replacement Market Size By Product (Primary Hip Replacement Devices, Partial Hip Replacement Devices, Revision Hip Replacement Devices, Hip Resurfacing Devices), By Material (Metal-on-plastic, Ceramic-on-plastic, Ceramic-on-ceramic, Ceramic-on-metal), By Fixation Material (Cemented Fixation, Cementless Fixation, Hybrid Fixation), By Inserts (Cross-linked Polyethylene Inserts, Antioxidant Polyethylene Inserts, Non-antioxidant Polyethylene Inserts), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI4979
  • Published Date: Dec 2022
  • Report Format: PDF

Industry Statistics

Hip Replacement Market size was valued at over USD 7 billion in 2022 and is expected to grow at the pace of 3.5% CAGR through 2032 supported by the rising prevalence of hip arthritis and osteoporosis worldwide.
 

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Growing incidence of chronic hip and other joint problems along with the expanding aging population is expected to drive the market progress.  According to BMC Journal data, around 1.58 million hip osteoarthritis incidences were reported worldwide in 2019. Furthermore, the rising choice for durable materials including ceramic and medical-grade polyethylene for hip replacement surgeries by patients and healthcare professionals is expected to benefit the market development.
 

High implant and surgical costs may limit hip replacement market revenue

The high costs of hip replacement surgeries are impeding the hip replacement industry expansion in emerging markets with relatively low-income levels. The use of cutting-edge technology in these devices has raised the price of hip replacement procedures, which is likely to hinder the product penetration. However, governments across various developing nations are taking steps to lower the cost of operations, which could help manufacturers overcome the restraint through the projected timeframe.
 

Cost-effectiveness and quicker implant time to promote partial hip replacement segment demand

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Based on product, the hip replacement market is segmented as hip resurfacing devices, partial hip replacement devices, primary hip replacement devices, and revision hip replacement devices. Out of these, the partial hip replacement devices segment is expected to account for over USD 1 billion by 2032 end. This can be attributed the important factors such as cost-effective treatment and quicker implant time when compared to whole hip replacement surgery. Furthermore, partial hip replacement reduces surgical time, blood loss, and recuperation time, while improving patient convenience.
 

Lower risk of early wear out to favor ceramic-on-plastic material adoption

With regards to material, the hip replacement market is divided into metal-on-plastic, ceramic-on-ceramic, ceramic-on-plastic, and ceramic-on-metal segments. The ceramic-on-plastic segment is expected to exceed USD 2 billion by 2032, owing to its increased viability and lower risk of early wear out of implants. The ceramic-on-plastic material decreases long-term wear, enhances durability, and reduces the likelihood of ceramic breaking. Polyethylene advancements have also enabled the use of highly crosslinked polyethylene, which provides greater wear resistance. Such advantages provided by ceramic-on-plastic is forecast to significantly accelerate the segment trends.
 

Reduction in clinical complications to foster cementless fixation segment revenue

The hip replacement market is classified based on fixation materials into cementless fixation, hybrid fixation, and cemented fixation. Cementless fixation segment accounted for over 76% market share in 2022 and is predicted to expand at a lucrative rate over the forecast duration. This significant expansion can be attributed to the prevention of cement disease and reducing the clinical complications. Furthermore, utilizing cementless fixation allows bone to grow into or onto the prosthesis, which increases implant survival rates.
 

Profitable characteristics of cross-linked polyethylene inserts to surge product demand

Hip replacement market from the cross-linked polyethylene inserts segment was valued at over USD 2.5 billion in 2022. The widespread use of cross-linked polyethylene inserts in hip arthroplasty owing to its benefits such as reduced osteolysis, better clinical results, and implant survival is expected to increase segment revenue. As per an article published by National Center for Biotechnology Information (NCBI), cross-linked polyethylene implants have been frequently used and have proven to be extremely successful 15 years following surgery in young and active person.
 

Rising demand for advanced hip replacement treatments at hospitals to influence market expansion

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Hip replacement market from hospitals segment is estimated to grow at more than 3% CAGR over 2023-2032. The soaring demand for upgraded hip replacement procedures that provide better outcomes is likely to enhance patient inclination towards these healthcare settings. Furthermore, hospitals provide continuous monitoring following surgery, design exercises to recover strength, collaborate closely with patients, and deliver physical treatments. Increased hospital admissions for various hip illnesses. in addition to the availability of qualified healthcare workers, is likely to drive hospital demand for hip reconstructive equipment, thereby fueling the market statistics.
 

High incidences of osteoporosis across Europe to supplement regional industry share

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Europe hip replacement market is set to surpass USD 2 billion by 2032. The rising hospitalization rates caused by high incidences of arthritis and osteoporosis, along with supportive healthcare policies throughout the area is expected to fuel the regional market landscape. Furthermore, multiple awareness activities by different organizations, including regulatory bodies, would further drive market size across Europe.
 

Strategic initiatives by market players to augment the industry landscape

The hip replacement industry includes leading corporations such as Stryker Corporation, Depuy Synthes (Johnson & Johnson), Microport Orthopedics, ConforMIS Inc., Kyocera Corporation, Exatech Inc., DJO Global, Waldemar Link, Corin Group, amongst others. These firms are engaging in strategic initiatives such as acquisitions, mergers, collaborations, and more to secure a competitive edge in the market.
 

Impact of COVID-19 on hip replacement market trends

The increased risk of COVID-19 infection during surgical operations, in addition to the rising admission of infected patients in hospitals, are among the primary reasons for the decrease in elective surgical procedures including hip replacement. However, government initiatives to offer clinical emergency treatment to those with osteoarthritis have kept revenue growth steady.
 

The Hip Replacement market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Units and revenue in USD Million from 2018 to 2032 for the following segments:

By Product

  • Primary Hip Replacement Devices
  • Partial Hip Replacement Devices
  • Revision Hip Replacement Devices
  • Hip Resurfacing Devices

By Material

  • Metal-on-plastic
  • Ceramic-on-plastic
  • Ceramic-on-ceramic
  • Ceramic-on-metal

By Fixation Material

  • Cemented Fixation
  • Cementless Fixation
  • Hybrid Fixation

By Inserts

  • Cross-linked Polyethylene Inserts
  • Antioxidant Polyethylene Inserts
  • Non-antioxidant Polyethylene Inserts

By End-use

  • Hospitals
  • Ambulatory Surgery Centers

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
       
Authors: Rupali Swain, Subodh Kharad

Frequently Asked Questions (FAQ) :

Global market for hip replacement exceeded USD 7 billion in 2022 and is expected to grow significantly at 3.5% CAGR through 2032 driven by the rising prevalence of hip arthritis and osteoporosis worldwide.
Partial hip replacement segment is estimated to be worth more than USD 1 billion due to the product’s characteristics such as cost-effective treatment and faster implant time as compared to total hip replacement surgery.
Europe hip replacement market is expected to exceed USD 2 billion by 2032, owing to increased hospitalization rates resulting from the high prevalence of arthritis and osteoporosis, along with supportive healthcare policies throughout the area.
The industry consists of prominent industry participants such as Stryker Corporation, Depuy Synthes (Johnson & Johnson), Microport Orthopedics, ConforMIS Inc., Kyocera Corporation, Exatech Inc., DJO Global, Waldemar Link, Corin Group and more.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 592
  • Countries covered: 17
  • Pages: 280
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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