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Hip Replacement Market Analysis & Forecast to 2024-2034

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    Report

  • 200 Pages
  • January 2024
  • Region: Global
  • Erevna Healthcare
  • ID: 5923168
The global hip replacement market size was estimated to be USD 8.37 billion in 2023 and is expected to reach at USD 15.79 billion by 2034 with a CAGR of 5.94% during the forecast period 2024-2034. Increasing prevalence of obesity, hip injuries, & osteoarthritis, growing geriatric population, surge in prevalence of hip fractures, rising awareness regarding hip surgical solutions, increasing number of young people suffering from degenerative diseases, growing favorable reimbursement policies, surge in launch of novel systems, rising regulatory approvals, and increasing adoption of FDA approved advanced hip replacement systems are some of the key factors boosting the market growth.

Increasing adoption of FDA approved advanced hip replacement systems is predicted to boost the market growth during the forecast period. Hip replacement is a surgical intervention that involves the replacement of the hip joint with a prosthetic implant known as a hip prosthesis. These hip implants typically consist of a combination of metal, ceramic, and plastic materials. As a result, the expected increase in the volume of hip replacement surgeries is anticipated to drive the market for advanced hip replacement systems. For instance, in January 2023, Under an Investigational Device Exemption (IDE) study approved by the U.S. Food and Drug Administration (FDA), Hip Innovation Technology LLC has successfully conducted the first implantation of the HIT Reverse Hip Replacement System (Reverse HRS) in the United States.

By product, total hip was the highest revenue-grossing segment in the global hip replacement market in 2023 owing to surge in number of total hip replacement surgeries, growing adoption of robots for total hip arthroplasty (THA) procedures, and increasing launch of new systems. For instance, in August 2022, Exactech, Inc. has introduced the Logical Cup System and Spartan Stem for total hip arthroplasty. Additionally, revision hip is predicted to grow at fastest CAGR during the forecast period owing to the rising favorable reimbursement policies, increasing need for revision procedures after wearing out of previously implanted products, and growing shift towards hip resurfacing.

By material, metal-on-polyethylene was the highest revenue-grossing segment in the global hip replacement market in 2023 owing to the wide accessibility, track record of clinical success, & most affordable implant materials, and increasing developments in materials combining metal and polyethylene. Additionally, ceramic-on-polyethylene is predicted to grow at fastest CAGR during the forecast period owing to its superior wear resistance, & fewer associated complications, presence of major players, and growing mergers & acquisitions within market players. For instance, in March 2022, DePuy Synthes has acquired CUPTIMIZE Hip-Spine Analysis, a technology that assists surgeons in gaining a deeper understanding of pelvic tilt, measuring it accurately, and addressing it effectively. This technology will complement DePuy Synthes hip implants, enhancing the overall approach to procedures with the aim of improving patient outcomes.

By end-user, hospitals & surgery centers was the highest revenue-grossing segment in the global hip replacement market in 2023 owing to the surge in number of hip implant surgeries performed in these facilities, growing adoption of most up-to-date technology, rising number of qualified medical staff, increasing partnerships within hospitals & market players for the development of cutting-edge surgical techniques, and surge in launch of advanced systems. For instance, in July 2022, Enovis has officially released ARVIS (Augmented Reality Visualization and Information System) after successfully completing more than 200 cases in the United States. This FDA-approved system is unique, as it is the only hands-free augmented reality (AR) technology specifically designed for orthopedic surgeons. It enables these surgeons to have precise guidance and visualization assistance during hip and knee surgeries through AR support. Additionally, orthopedic clinics is predicted to grow at fastest CAGR during the forecast period owing to the increasing number of orthopedic surgeons & outpatient replacement surgeries, growing focus on development of an advanced infrastructure, and surge in the number of orthopedic clinics.

North America region is anticipated for the highest revenue share during the forecast period owing to the growing prevalence of osteoarthritis, surge in hip replacement surgeries, increasing need for hip replacement implants, rising prevalence of osteoarthritis, growing research & development activities for advancements in hip replacement surgeries, surge in product approvals by regulatory bodies. For instance, in May 2022, The FDA has expedited the availability of advanced technologies that could improve hip replacement surgeries by granting Breakthrough Device status to JointMedica's Polymotion hip resurfacing system. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing geriatric population, growing prevalence of osteoporosis, osteoarthritis, & bone injuries, expanding medical tourism, and surge in launch of advanced systems. For instance, in August 2023, Smith+Nephew, the worldwide medical technology firm, has introduced its OR3O Dual Mobility System for application in primary and revision hip arthroplasty in India.

Segmentation: Hip Replacement Market Report 2023 - 2034

Hip Replacement Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)

  • Partial Femoral Head
  • Total Hip
  • Revision Hip
  • Hip Resurfacing

Hip Replacement Market Analysis & Forecast by Material 2023 - 2034 (Revenue USD Bn)

  • Metal-on-Polyethylene
  • Metal-on-Metal
  • Ceramic-on-Metal
  • Ceramic-on-Ceramic
  • Ceramic-on-Polyethylene

Hip Replacement Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)

  • Hospitals & Surgery Centers
  • Orthopedic Clinics
  • Others

Hip Replacement Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
  • Middle East & Africa
  • South Africa
  • GCC
  • Rest of MEA

Table of Contents

1. Research Methodology
1.1. Study Objectives
1.2. Study Scope
1.3. Research Assumptions
1.4. Research Framework
2. Introduction
2.1. Market Definition
2.2. Global Hip Replacement Market Overview
3. Executive Summary
4. Market Environment Analysis
4.1. Porter’s 5 Forces Analysis
4.2. PESTEL Analysis
4.3. SWOT Analysis
5. Market Dynamics
5.1. Drivers Analysis
5.2. Restraints Analysis
5.3. Opportunities Analysis
5.4. Threats Analysis
5.5. Trend Analysis
6. COVID-19 Impact Analysis
7. Hip Replacement Market: Product Estimates & Trend Analysis
7.1. Product Segment Opportunity Analysis
7.2. Partial Femoral Head
7.2.1. Partial Femoral Head Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
7.3. Total Hip
7.3.1. Total Hip Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
7.4. Revision Hip
7.4.1. Revision Hip Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
7.5. Hip Resurfacing
7.5.1. Hip Resurfacing Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8. Hip Replacement Market: Material Estimates & Trend Analysis
8.1. Material Segment Opportunity Analysis
8.2. Metal-on-Polyethylene
8.2.1. Metal-on-Polyethylene Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.3. Metal-on-Metal
8.3.1. Metal-on-Metal Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.4. Ceramic-on-Metal
8.4.1. Ceramic-on-Metal Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.5. Ceramic-on-Ceramic
8.5.1. Ceramic-on-Ceramic Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.6. Ceramic-on-Polyethylene
8.6.1. Ceramic-on-Polyethylene Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
9. Hip Replacement Market: End-user Estimates & Trend Analysis
9.1. End-user Segment Opportunity Analysis
9.2. Hospitals & Surgery Centers
9.2.1. Hospitals & Surgery Centers Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
9.3. Orthopedic Clinics
9.3.1. Orthopedic Clinics Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
9.4. Others
9.4.1. Others Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
10. Regional Market Analysis
10.1. Regional Market Opportunity Analysis
11. North America Hip Replacement Market
11.1. North America Hip Replacement Market
11.1.1. North America Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
11.1.2. North America Hip Replacement Market Size and Forecast, By Country, 2023-2034 (Revenue USD Bn)
11.1.3. North America Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
11.1.4. North America Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
11.1.5. North America Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
11.2. U.S. Global Hip Replacement Market
11.2.1. U.S. Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
11.2.2. U.S. Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
11.2.3. U.S. Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
11.2.4. U.S. Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
11.3. Canada Global Hip Replacement Market
11.3.1. Canada Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
11.3.2. Canada Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
11.3.3. Canada Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
11.3.4. Canada Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
12. Europe Global Hip Replacement Market
12.1. Europe Global Hip Replacement Market
12.1.1. Europe Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.1.2. Europe Hip Replacement Market Size and Forecast, By Country, 2023-2034 (Revenue USD Bn)
12.1.3. Europe Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
12.1.4. Europe Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
12.1.5. Europe Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
12.2. Germany Global Hip Replacement Market
12.2.1. Germany Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.2.2. Germany Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
12.2.3. Germany Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
12.2.4. Germany Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
12.3. UK Global Hip Replacement Market
12.3.1. UK Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.3.2. UK Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
12.3.3. UK Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
12.3.4. UK Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
12.4. France Global Hip Replacement Market
12.4.1. France Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.4.2. France Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
12.4.3. France Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
12.4.4. France Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
12.5. Spain Global Hip Replacement Market
12.5.1. Spain Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.5.2. Spain Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
12.5.3. Spain Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
12.5.4. Spain Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
12.6. Italy Global Hip Replacement Market
12.6.1. Italy Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.6.2. Italy Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
12.6.3. Italy Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
12.6.4. Italy Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
12.7. Rest of Europe Global Hip Replacement Market
12.7.1. Rest of Europe Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.7.2. Rest of Europe Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
12.7.3. Rest of Europe Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
12.7.4. Rest of Europe Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
13. Asia Pacific Global Hip Replacement Market
13.1. Asia Pacific Global Hip Replacement Market
13.1.1. Asia Pacific Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
13.1.2. Asia Pacific Hip Replacement Market Size and Forecast, By Country, 2023-2034 (Revenue USD Bn)
13.1.3. Asia Pacific Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
13.1.4. Asia Pacific Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
13.1.5. Asia Pacific Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
13.2. Japan Global Hip Replacement Market
13.2.1. Japan Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
13.2.2. Japan Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
13.2.3. Japan Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
13.2.4. Japan Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
13.3. China Global Hip Replacement Market
13.3.1. China Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
13.3.2. China Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
13.3.3. China Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
13.3.4. China Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
13.4. India Global Hip Replacement Market
13.4.1. India Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
13.4.2. India Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
13.4.3. India Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
13.4.4. India Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
13.5. South Korea Global Hip Replacement Market
13.5.1. South Korea Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
13.5.2. South Korea Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
13.5.3. South Korea Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
13.5.4. South Korea Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
13.6. Australia Global Hip Replacement Market
13.6.1. Australia Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
13.6.2. Australia Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
13.6.3. Australia Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
13.6.4. Australia Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
13.7. Rest of Asia Pacific Global Hip Replacement Market
13.7.1. Rest of Asia Pacific Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
13.7.2. Rest of Asia Pacific Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
13.7.3. Rest of Asia Pacific Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
13.7.4. Rest of Asia Pacific Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
14. Latin America Global Hip Replacement Market
14.1. Latin America Global Hip Replacement Market
14.1.1. Latin America Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
14.1.2. Latin America Hip Replacement Market Size and Forecast, By Country, 2023-2034 (Revenue USD Bn)
14.1.3. Latin America Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
14.1.4. Latin America Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
14.1.5. Latin America Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
14.2. Brazil Global Hip Replacement Market
14.2.1. Brazil Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
14.2.2. Brazil Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
14.2.3. Brazil Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
14.2.4. Brazil Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
14.3. Mexico Global Hip Replacement Market
14.3.1. Mexico Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
14.3.2. Mexico Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
14.3.3. Mexico Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
14.3.4. Mexico Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
14.4. Argentina Global Hip Replacement Market
14.4.1. Argentina Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
14.4.2. Argentina Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
14.4.3. Argentina Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
14.4.4. Argentina Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
14.5. Rest of Latin America Global Hip Replacement Market
14.5.1. Rest of Latin America Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
14.5.2. Rest of Latin America Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
14.5.3. Rest of Latin America Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
14.5.4. Rest of Latin America Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
15. MEA Global Hip Replacement Market
15.1. MEA Global Hip Replacement Market
15.1.1. MEA Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
15.1.2. MEA Hip Replacement Market Size and Forecast, By Country, 2023-2034 (Revenue USD Bn)
15.1.3. MEA Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
15.1.4. MEA Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
15.1.5. MEA Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
15.2. GCC Global Hip Replacement Market
15.2.1. GCC Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
15.2.2. GCC Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
15.2.3. GCC Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
15.2.4. GCC Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
15.3. South Africa Global Hip Replacement Market
15.3.1. South Africa Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
15.3.2. South Africa Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
15.3.3. South Africa Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
15.3.4. South Africa Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
15.4. Rest of MEA Global Hip Replacement Market
15.4.1. Rest of MEA Hip Replacement Market Size and Forecast, 2023-2034 (Revenue USD Bn)
15.4.2. Rest of MEA Hip Replacement Market Size and Forecast, By Product, 2023-2034 (Revenue USD Bn)
15.4.3. Rest of MEA Hip Replacement Market Size and Forecast, By Material, 2023-2034 (Revenue USD Bn)
15.4.4. Rest of MEA Hip Replacement Market Size and Forecast, By End-user, 2023-2034 (Revenue USD Bn)
16. Competitor Analysis
16.1. Company Market Share Analysis, 2023
16.2. Major Recent Developments
17. Company Profiles
17.1. Smith & Nephew plc
17.2. B. Braun Melsungen AG
17.3. Zimmer Biomet
17.4. OMNIlife Science, Inc.
17.5. DJO Global, Inc.
17.6. Johnson & Johnson
17.7. Exactech, Inc.
17.8. Aesculap Implant Systems, LLC
17.9. ConMed Corporation
17.10. Stryker Corporation
17.11. MicroPort Scientific Corporation
17.12. Other Prominent Players
18. Conclusion19. Recommendations

Companies Mentioned

  • Smith & Nephew plc
  • B. Braun Melsungen AG
  • Zimmer Biomet
  • OMNIlife Science Inc.
  • DJO Global Inc.
  • Johnson & Johnson
  • Exactech Inc.
  • Aesculap Implant Systems Llc
  • ConMed Corporation
  • Stryker Corporation
  • MicroPort Scientific Corporation

Table Information