info@strategicmarketresearch.com
26, Broadway, Suite 934, New York , 10004
us US: +18317045538    uk UK: +441256636046    in IN: +918260836500
Home » Healthcare » Hip Replacement Market Size, Industry Share Report 2030

Hip Replacement Market By Product Type (Total hip replacement implants, Partial hip replacement implants, Hip resurfacing implants, Revision hip replacement implants), End-User (Hospitals & surgical centers, Orthopedic clinics, Others), By Geography, Segment revenue estimations, Forecast: 2021-2030

Published On: Dec-2021   |   Base Year: 2021   |   No Of Pages: 135   |   Historical Data: 2017 - 2020   |   Formats: PDF   |   Report ID: 91494023

Report DescriptionTable of Contents

Industry Report and Statistics

The global hip replacement market will witness a robust CAGR of 5.1%, valued at $6.23 billion in 2021, expected to appreciate and reach $9.75 billion by 2030, confirms Strategic Market Research. Total hip replacements are also known as hip arthroplasty or hip resurfacing. Hip replacement surgery is prevalent and effectively reduces pain and stiffness in the hip joint. Total hip replacement, partial hip replacement, hip resurfacing, and revision hip implant surgery are four types of total hip replacement. A hip joint replacement is necessary due to the following conditions: Osteoarthritis, Rheumatoid arthritis, and Osteonecrosis.

Hip replacement usually involves a complete replacement of the hip joint. In addition to the femoral stem, the acetabular cup also consists of three parts. The acetabular cup can be cemented or cementless, as with the branch, depending on how superior it is. A partial hip replacement involves replacing only the femoral component of the hip. Modular components of this implant are similar to those used in total hip replacements, except that this procedure uses either a bipolar or unipolar head and a femoral stem. As a result, it is more economical and takes less time to implant a partial hip prosthesis than a total hip replacement. Hip replacement surgery carries risks such as blood clots, Infection, Fracture, Dislocation, Change in leg length, Loosening, and Nerve Damage.

 

Hip Replacement Implants Market Share Image

Impact of COVID-19

Various aspects of the healthcare industry have been negatively impacted by the ongoing COVID-19 pandemic, from raw materials to manufacturing and delivery. Elective arthroplasty has been disrupted in several major countries, but there has not been a quantitative assessment. Across the globe, public health measures taken to curb the disease's spread varied in timing and severity. The most significant turning point in hip replacements came when the World Health Organization declared COVID-19 a global crisis on March 10, 2020. Furthermore, various national surgeon generals recommended a halt to all elective surgeries in populated areas and suggestions made by local medical authorities. In response to the Coronavirus threat, hip and knee replacement surgeries have been canceled widely worldwide, reducing global demand and, in turn, affecting the hip replacement market. Based on a study from the Agency for Healthcare Research and Quality, roughly 450,000 hip replacements are performed annually in the United States. In addition, 33,000 revision and primary hip and knee arthroplasty procedures were canceled every week when the Coronavirus outbreak hit the United States. Similar trends across developed and developing countries forced many surgeons worldwide to concentrate on COVID-19-related surgeries and practices.

 

Drivers - Increase in Demand for Hip Replacement, Osteoporosis, And Hip Ailments and An Increasing Number of Osteoarthritis Cases Set to Boost the Market Growth

Some of the factors contributing to the market's growth are the increase in demand for hip arthroplasty/replacement surgical procedures, osteoporosis and hip ailments, high prevalence of lower extremity conditions such as Osteoarthritis (OA), and an increasing geriatric population. In addition, the availability of quality healthcare infrastructure in developed countries and the innovation in non-invasive surgery technology makes it easier to drive the market's growth. By 2050, around 130 million people will suffer from Osteoarthritis, according to a report by the Osteoarthritis Research Society International.

 

The industry's revenues are expected to grow during the forecasted period due to the increasing number of younger patients suffering from degenerative diseases. Additionally, the growing prevalence of robot-assisted surgeries has increased the success rate of minimally invasive procedures, which is anticipated to provide lucrative growth avenues for this market in the forecasted period.

 

Restraints - Lawsuits and Defects Associated with the Hip Replacement Product will Likely Hamper the Market's Growth.

With the adoption of replacement surgery increasing rapidly, the complications associated with implant use constitute a significant deterrent to the growth of the global market in the upcoming years. According to the lawsuits, the defective device caused severe side effects for patients. The malfunction of orthopedic replacement devices has led to numerous individual cases and class actions against major companies like Zimmer Biomet and Stryker.

Hip Replacement Implants Market Based on end User Image

Opportunities - Affordable Healthcare and Favorable Reimbursement Policies are Expected to Create Numerous Opportunities for the Hip Replacement Market

Affordable healthcare is becoming more prevalent in developed countries, and non-invasive surgeries are becoming more technologically advanced. In the coming years, the advent of non-metal materials like polymer and ceramic is expected to benefit healthcare facilities by helping them overcome problems with conventional devices, such as the accumulation of metallic ions in patients' bloodstreams and the deterioration of implants over time. In addition, due to the newer operating techniques, hospital stays for full hip replacements are now less than four days.

 

Favorable reimbursement policies also boost growth. For example, PPACA (Patient Protection and Affordable Care Act) stipulates that: insurance companies are now providing more coverage for surgery through orthopedic devices, making it more accessible to people for their treatment. In addition, Prosthetics and orthotics are increasingly covered by the government (e.g., Medicaid) and private insurers.

 

Johnson & Johnson, for instance, launched its "India centric" reimbursement program in November 2018, ensuring full reimbursement for patients undergoing revision surgery within 15 years following primary hip replacement surgery. 

 

Market Analysis Of Different Segments Covered in the Report

We have segmented the industry into:

  • By Product type

  • By Material type

  • By End-User

  • By Geography.

 

Product Type Analysis & Insights

  • Total hip replacement implants

  • Partial hip replacement implants

  • Hip resurfacing implants

  • Revision hip replacement implants

 

As minimally invasive surgeries become more popular and with continuous technological advancement, total hip implants held the largest market share as of 2020. The ever-increasing prevalence of Osteoarthritis also plays a significant role in driving the market. Osteoarthritis accounted for 90% of total hip replacements in the United Kingdom, according to the National Joint Registry for England in 2016.

 

Industry players are constantly developing new technologies and navigation systems to simplify surgical procedures and increase market penetration. For example, In August 2018, CORFORMIS, Inc., a medical technology company, performed the first 3D total hip replacement surgery in Florida at JFK Medical Center.

 

Material Type Analysis & Insights

  • Metal-on-Metal(MoM) 

  • Metal-on-Polyethylene(MoP)

  • Ceramic-on-Metal(CoM)

  • Ceramic-on-Polyethylene(CoP) 

  • Ceramic-on-Ceramic(CoC)

 

With the prevalence of joint diseases in developing countries and the growing geriatric population, the metal-on-polyethylene segment will dominate the global market in 2020. However, this segment may see restrained effects on growth due to postsurgical complications and inflammatory reactions in the coming years. However, due to its lowest wear rate and fewer complications, the COP market is expected to grow significantly over the forecast period. Stryker, Corin Group, CermacTec, Biomet, and DePuy Synthes Orthopedics are significant players in this segment.

 

End-User Analysis & Insights

  • Hospitals & surgical centers, 

  • Orthopedic clinics

  • Others

 

By 2020, Hospitals& Surgical Centres held a significant market share due to increased hip implants performed by these facilities. A medical center's growth is further boosted by its latest technologies and skilled healthcare professionals. In addition, the collaboration between hospitals and industries assists with developing advanced surgical procedures.

 

Regional Analysis & Insights

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa.

 

In 2020, the hip replacement implant market was dominated by North America. The regional market's growth is primarily driven by the incidence of osteoporosis and Osteoarthritis and a rise in road and sports injuries. The number of surgeries is expected to increase, thanks to the favorable reimbursement policies for patients, which will result in growth in the coming years. It results from rapid technological advances, high rates of geriatrics, and pricing procedures. 

 

According to the forecast and statistics, the Asia Pacific market will increase during the forecast period. Hip replacement surgeries are increasing, hip implants are becoming more widely used, and economies such as China, India, Singapore, Malaysia, Indonesia, and South Korea are expected to drive Asian growth during the forecast period. The market for hip replacement implants in the region will grow from 2021 to 2028 as healthcare infrastructure improves, private and public investment increases, and technological advances occur in countries.

Hip Replacement Implants Market Based on Region Image

 

Regional Coverage Analysis

North America

  • The U.S.

  • Canada

  • Rest of North America

 

Europe

  • The U.K.

  • Germany

  • France

  • Italy

  • Spain

 

Asia Pacific

  • Japan

  • China

  • India

 

Latin America

  • Brazil

  • Mexico

 

MEA

  • South Africa

  • Saudi Arabia

 

Hip Replacement Market Report Coverage

Report Attribute

Details         

Forecast Period

2021 - 2030

The market size value in 2021

USD 6.23 Billion

The revenue forecast in 2030

USD 9.75 Billion

Growth rate statistics

CAGR of approximately 5.1%

The base year for estimation

2021

Historical data

2016 – 2019

Unit

USD Billion, CAGR (2021 - 2030)

Segmentation

By Product Type, By Material Type, By End-User, By Geography.

Based on Product Type

Total hip replacement implants, Partial hip replacement implants, Hip resurfacing implants, and Revision hip replacement implants.

Based on Applications

Metal-on-Metal(MoM), Metal-on-Polyethylene(MoP), Ceramic-on-Metal(CoM), Ceramic-on-Polyethylene(CoP),Ceramic-on-Ceramic(CoC).

Based on End-User                                  

Hospitals & surgical centers, Orthopedic Clinics, and Others.

Based on Region

North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Country Scope

U.S, Canada, France, Germany, U.K, China, Japan, India,  South Korea,  Mexico, Brazil, U.A.E., etc.

Company Usability Profiles

Stryker, Tornier, Inc., United Orthopedics Corporation, Zimmer, Inc, Johnson & Johnson, MicroPort Scientific Corporation, OMNIlife Science, Inc., B. Braun Melsungen AG, Aesculap Implant Systems, LLC, ConMed Corporation.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.

 

 

Global Hip Replacement Implants Market Competitive Landscape Analysis

  • Stryker

  • Tornier, Inc.

  • United Orthopedics Corporation

  • Zimmer, Inc

  • Johnson & Johnson

  • MicroPort Scientific Corporation

  • OMNIlife Science, Inc.

  • B. Braun Melsungen AG

  • Aesculap Implant Systems, LLC

  • ConMed Corporation

 

Frequently Asked Question About This Report

b: Global hip replacement market size in 2021 was $6.23 Bn as estimated by SMR and will propel at a CAGR of 5.1%. It is poised to project a value of $9.75 Bn by 2030.

b: The global market is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2021 to 2030 to reach USD9.75 billion by 2030.

b: By product type- total hip implant has the largest market share. By material type-metal-on-polyethylene segment dominated the global market. By end-user- hospitals & surgical centres dominated the market.

b: Some of the factors driving the markets growth are the increase in demand for hip arthroplasty/replacement surgical procedures, osteoporosis and hip ailments, high prevalence of lower extremity conditions such as Osteoarthritis (OA), increasing geriatric population.

b: Key players of the global market include Stryker, Tornier, Inc., United Orthopedics Corporation, Zimmer, Inc, Johnson & Johnson, MicroPort Scientific Corporation, OMNIlife Science, Inc., B. Braun Melsungen AG, Aesculap Implant Systems, LLC, ConMed Corporation and others.

Sources

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6913225/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6376618/

https://orthoinfo.aaos.org/en/treatment/total-hip-replacement/