Product Code: GVR-3-68038-487-1
Hip Replacement Implants Market Growth & Trends
The global hip replacement implants market size is projected to reach USD 8.7 billion by 2030, growing at a CAGR of 6.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing prevalence of osteoarthritis and hip fractures and the growing geriatric population are the major factors contributing to market growth. For example, according to the American Academy of Orthopedic Surgeons, in the U.S., hip fractures affect over 300,000 individuals annually. Most of these fractures occurred in people 65 or older who suffered from injuries in the home or outdoor falls. Therefore, more hip replacement surgeries were performed due to the aging population and rising rates of diseases affecting the lower extremities. Additionally, this leads to a rise in demand for hip replacement implants.
The rapid advancement of surgical procedures has spurred the demand for hip replacement implants. Furthermore, introducing novel implant types and combining materials for enhanced stability and longevity further boosts the expansion of the hip replacement implants market globally. Additionally, the market is growing due to shifting consumer preferences brought on by advancements in the materials utilized in hip replacement implants. Advanced materials, such as cross-linked polyethylene sockets with ceramics or metallic femoral heads, are becoming more accessible and creating opportunities for companies.
Growing research agreements between key developers and R&D companies to develop innovative implant solutions further contribute to market growth. For instance, in September 2022,Zimmer Biomet Holdings, Inc. and Surgical Planning Associates, Inc. signed an exclusive, multi-year partnership arrangement to promote the first FDA-approved mixed reality navigation system, HipInsight, used in total hip arthroplasty. With HipInsight, developed specifically for Zimmer Biomet's hip implant line, surgeons may employ the second generation of Microsoft HoloLens glasses to observe a projected hologram of the individual's pelvic anatomy during surgery to aid in positioning the implant and alignment.
Hip Replacement Implants Market Report Highlights
- Based on product, the total hip segment dominated the market in 2022 with a revenue share of 37.5% due to the growing number of total hip replacement surgeries globally. Since total hip replacement is the most common type of hip replacement surgery, the demand for total hip replacement implants is also higher
- Metal-on-polyethylene held the largest share of 30.8% among material types in 2022 since it is among the most affordable implant, and its extra advantages include fewer complications and fewer wear particles
- By end-use, the hospitals and surgery centers segment held the largest share of 69.3% in 2022. The high share of the segment is attributable to the rise in hip implant surgeries performed in these facilities
- North America dominated the market in 2022 with a share of 45.6% owing to the rising prevalence of osteoarthritis and the increase in hip replacement surgeries in North America. Key players are also undertaking various strategic initiatives that have led to high revenue growth in the U.S.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definitions
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third - Party Perspectives
- 1.3.4. Primary Research
- 1.3.5. Details of Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.5.1. Commodity Flow Analysis
- 1.5.1.1. Approach 1: Commodity flow approach
- 1.6. Data Validation & Publishing
- 1.7. Global Market: CAGR Calculation
- 1.8. List of Secondary Sources
- 1.9. List of Primary Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Snapshot
- 2.3. Competitive Insights Snapshot
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Lineage
- 3.1.1. Parent Market Analysis
- 3.1.2. Ancillary Market Analysis
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. User Perspective Analysis
- 3.3.1. Consumer Behavior Analysis
- 3.3.2. Market Influencer Analysis
- 3.4. List of Key End - users
- 3.5. Hip Replacement Implants Market - Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.1.1. Rise in incidences of osteoarthritis
- 3.5.1.2. Technological advancements in the orthopedic implants market
- 3.5.1.3. Rising market competition amongst prominent market entities
- 3.5.2. Market Restraint Analysis
- 3.5.2.1. Lack of skilled professionals in developing region
- 3.6. Business Environmental Tools Analysis: Hip Replacement Implants Market
- 3.6.1. Porter's Five Forces Analysis
- 3.6.2. PESTLE Analysis
- 3.7. List of Key End-users
- 3.8. Regulatory Framework, by Key Countries
- 3.9. Covid-19 Impact Analysis
Chapter 4. Hip Replacement Implants Market: Product Estimates & Trend Analysis
- 4.1. Hip Replacement Implants Market, By Product: Key Takeaways
- 4.2. Hip Replacement Implants Market: Product Movement & Market Share Analysis, 2022 & 2030
- 4.3. Total Hip
- 4.3.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Partial Femoral Head
- 4.4.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Hip Resurfacing
- 4.5.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6. Revision Hip
- 4.6.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Hip Replacement Implants Market: Material Estimates & Trend Analysis
- 5.1. Hip Replacement Implants Market, By Material: Key Takeaways
- 5.2. Hip Replacement Implants Market: Material Movement & Market Share Analysis, 2022 & 2030
- 5.3. Metal-On-Metal
- 5.3.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Metal-On-Polyethylene
- 5.4.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5. Ceramic-On-Polyethylene
- 5.5.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.6. Ceramic-On-Metal
- 5.6.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.7. Ceramic-On-Ceramic
- 5.7.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Hip Replacement Implants Market: End-Use Estimates & Trend Analysis
- 6.1. Hip Replacement Implants Market, By End-Use: Key Takeaways
- 6.2. Hip Replacement Implants Market: End-Use Movement & Market Share Analysis, 2022 & 2030
- 6.3. Orthopedic Clinics
- 6.3.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Hospitals & Surgery Centers
- 6.4.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Others
- 6.5.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Hip Replacement Implants Market: Regional Estimates & Trend Analysis
- 7.1. Hip Replacement Implants Market: Regional Movement Analysis, 2022 & 2030
- 7.2. North America
- 7.2.1. North America Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.2.2. U.S.
- 7.2.2.1. Key Country Dynamics
- 7.2.2.2. Regulatory Framework
- 7.2.2.3. U.S. Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.2.3. Canada
- 7.2.3.1. Key Country Dynamics
- 7.2.3.2. Regulatory Framework
- 7.2.3.3. Canada Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.3. Europe
- 7.3.1. Europe Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.3.2. UK
- 7.3.2.1. Key Country Dynamics
- 7.3.2.2. Regulatory Framework
- 7.3.2.3. UK Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.3.3. Germany
- 7.3.3.1. Key Country Dynamics
- 7.3.3.2. Regulatory Framework
- 7.3.3.3. Germany Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.3.4. France
- 7.3.4.1. Key Country Dynamics
- 7.3.4.2. Regulatory Framework
- 7.3.4.3. France Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.3.5. Italy
- 7.3.5.1. Key Country Dynamics
- 7.3.5.2. Regulatory Framework
- 7.3.5.3. Italy Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.3.6. Spain
- 7.3.6.1. Key Country Dynamics
- 7.3.6.2. Regulatory Framework
- 7.3.6.3. Spain Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.3.7. Sweden
- 7.3.7.1. Key Country Dynamics
- 7.3.7.2. Regulatory Framework
- 7.3.7.3. Sweden Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.3.8. Denmark
- 7.3.8.1. Key Country Dynamics
- 7.3.8.2. Regulatory Framework
- 7.3.8.3. Denmark Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.3.9. Norway
- 7.3.9.1. Key Country Dynamics
- 7.3.9.2. Regulatory Framework
- 7.3.9.3. Norway Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.4.2. Japan
- 7.4.2.1. Key Country Dynamics
- 7.4.2.2. Regulatory Framework
- 7.4.2.3. Japan Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.4.3. China
- 7.4.3.1. Key Country Dynamics
- 7.4.3.2. Regulatory Framework
- 7.4.3.3. China Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.4.4. India
- 7.4.4.1. Key Country Dynamics
- 7.4.4.2. Regulatory Framework
- 7.4.4.3. India Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.4.5. Australia
- 7.4.5.1. Key Country Dynamics
- 7.4.5.2. Regulatory Framework
- 7.4.5.3. Australia Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.4.6. South Korea
- 7.4.6.1. Key Country Dynamics
- 7.4.6.2. Regulatory Framework
- 7.4.6.3. South Korea Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5. Latin America
- 7.5.1. Latin America Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5.2. Brazil
- 7.5.2.1. Key Country Dynamics
- 7.5.2.2. Regulatory Framework
- 7.5.2.3. Brazil Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5.3. Mexico
- 7.5.3.1. Key Country Dynamics
- 7.5.3.2. Regulatory Framework
- 7.5.3.3. Mexico Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5.4. Argentina
- 7.5.4.1. Key Country Dynamics
- 7.5.4.2. Regulatory Framework
- 7.5.4.3. Argentina Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.6. Middle East & Africa
- 7.6.1. Middle East & Africa Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.6.2. South Africa
- 7.6.2.1. Key Country Dynamics
- 7.6.2.2. Regulatory Framework
- 7.6.2.3. South Africa Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.6.3. Saudi Arabia
- 7.6.3.1. Key Country Dynamics
- 7.6.3.2. Regulatory Framework
- 7.6.3.3. Saudi Arabia Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.6.4. UAE
- 7.6.4.1. Key Country Dynamics
- 7.6.4.2. Regulatory Framework
- 7.6.4.3. UAE Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.6.5. Kuwait
- 7.6.5.1. Key Country Dynamics
- 7.6.5.2. Regulatory Framework
- 7.6.5.3. Kuwait Hip Replacement Implants Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Company Categorization
- 8.2. Company Market Position Analysis, 2022
- 8.3. Strategy Mapping
- 8.4. Company Profiles/Listing
- 8.4.1. Zimmer Biomet
- 8.4.1.1. Overview
- 8.4.1.2. Financial Performance
- 8.4.1.3. Product Benchmarking
- 8.4.1.4. Strategic Initiatives
- 8.4.2. Johnson & Johnson
- 8.4.2.1. Overview
- 8.4.2.2. Financial Performance
- 8.4.2.3. Product Benchmarking
- 8.4.2.4. Strategic Initiatives
- 8.4.3. Stryker Corporation
- 8.4.3.1. Overview
- 8.4.3.2. Financial Performance
- 8.4.3.3. Product Benchmarking
- 8.4.3.4. Strategic Initiatives
- 8.4.4. Smith & Nephew plc
- 8.4.4.1. Overview
- 8.4.4.2. Financial Performance
- 8.4.4.3. Product Benchmarking
- 8.4.4.4. Strategic Initiatives
- 8.4.5. MicroPort Scientific Corporation
- 8.4.5.1. Overview
- 8.4.5.2. Financial Performance
- 8.4.5.3. Product Benchmarking
- 8.4.5.4. Strategic Initiatives
- 8.4.6. Exactech, Inc.
- 8.4.6.1. Overview
- 8.4.6.2. Financial Performance
- 8.4.6.3. Product Benchmarking
- 8.4.6.4. Strategic Initiatives
- 8.4.7. OMNIlife Science, Inc.
- 8.4.7.1. Overview
- 8.4.7.2. Financial Performance
- 8.4.7.3. Product Benchmarking
- 8.4.7.4. Strategic Initiatives
- 8.4.8. B. Braun Melsungen AG
- 8.4.8.1. Overview
- 8.4.8.2. Financial Performance
- 8.4.8.3. Product Benchmarking
- 8.4.8.4. Strategic Initiatives
- 8.4.9. DJO Global, Inc.
- 8.4.9.1. Overview
- 8.4.9.2. Financial Performance
- 8.4.9.3. Product Benchmarking
- 8.4.9.4. Strategic Initiatives
- 8.4.10. Aesculap Implant Systems, LLC
- 8.4.10.1. Overview
- 8.4.10.2. Financial Performance
- 8.4.10.3. Product Benchmarking
- 8.4.10.4. Strategic Initiatives
- 8.4.11. ConMed Corporation
- 8.4.11.1. Overview
- 8.4.11.2. Financial Performance
- 8.4.11.3. Product Benchmarking
- 8.4.11.4. Strategic Initiatives