The global hip replacement implants market value reached at US$ 5.2 billion in 2020 and projected to hit US$ 7 billion by 2030. Rapid development of surgery procedures has fueled the demand for hip replacement implants.
The global hip replacement implants market value reached at US$ 5.2 billion in 2020 and projected to hit US$ 7 billion by 2030. Rapid development of surgery procedures has fueled the demand for hip replacement implants. New implant types and material combinations for better stability and lifespan also contribute to the growth of the global hip replacement implants market.
Report Highlights
- On the basis of products, the market is segmented into total hip implants, partial femoral head, hip resurfacing, and revision hip.
- Metal-on-metal is widely used for total hip replacement and revision hip replacement surgery.
- Hospitals and surgery centers held the largest revenue share of the end-user segment as of 2018.
- The orthopedic clinic segment is expected to show lucrative growth over the forecast period.
- North America accounted for the largest share as of 2018, owing to favorable healthcare infrastructure and the presence of key industry players.
- Asia Pacific is expected to witness lucrative growth over the forecast period.
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The hip replacement implant is a device used in hip replacement surgery for damaged hip joint. The hip replacement surgery is widely performed and is known as total hip arthroscopy, wherein a surgeon replaces the old joint with an artificial one. Various types of arthritis such as osteoarthritis, rheumatoid arthritis, traumatic arthritis, and osteonecrosis are the common factors for hip replacement surgery.
Hip replacement implants are broadly classified into total hip replacement implants, partial hip replacement implants, hip resurfacing implants, and revision hip replacement implants. Total hip replacement implants are divided into fixed bearing hip implants and mobile-bearing total hip implants. The hip replacement surgery is performed usually due to fracture or injury to the hip, or osteoarthritis. Osteoarthritis is an age-related joint disease that can cause hip pain due to inflammation and wearing down of the joint over time.
Technological Advancements to Create Significant Opportunities in Global Market
Technological advancements lead to the development of customized hip replacement implants. Traditional implants are available in one size and incorporated in a patient body by removing excess bone, thereby creating limitations in a patient’s body. Hence, companies offer customized hip replacement implants as per the patient’s body and condition. Innovations in materials are likely to boost the growth of the global hip replacement implants market. Traditional materials used in making hip replacement implants comprise alloys, plastics, and others. Presently, surgeons have adopted advanced materials such as ceramic, advanced plastics, and strong metals to manufacture hip implants. The faster adoption of these materials present opportunities to companies to expand product offerings and in innovations.
Numerous Pain Relieving Factors Lead to Hip Replacement Implants
A hip replacement implant is a very common surgery that serves to reduce pain and rigidity in the hip joint. The total hip replacement is categorized into four segments, namely, primary hip reconstruction, partial hip reconstruction, hip resurfacing, and revision hip implants. Furthermore, total hip replacement implants are classified into fixed-bearing hip implants and mobile-bearing total hip implants. Hip replacement is mostly performed due to fracture or injury to the hip, or osteoarthritis. In addition to people with osteoarthritis or hip injuries, individuals with rheumatoid arthritis, osteonecrosis, or bone tumors also may need hip replacements to relieve pain.
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Product Insights
On the basis of products, the market is segmented into total hip implants, partial femoral head, hip resurfacing, and revision hip. Total hip implants held the largest market share as of 2018, owing to the growing demand for minimally invasive surgeries and ongoing technological advancements. Moreover, increasing prevalence of osteoarthritis is another major driver for the market. According to the National Joint Registry for England, 90% of total hip replacement was performed for osteoarthritis in the U.K. in 2016.
The industry players are continuously trying to develop new technologies and navigation systems in order to simplify surgical procedures and increase their market penetration. For instance, in August 2018, Conformis, Inc. collaborated with JFK Medical Center in Florida to perform the first-ever 3D total hip replacement surgery. Similarly, in May 2019, OrthoAlign, Inc. launched the HipAlign application that provides smart navigation technology during surgery.
Hip resurfacing surgery also held a substantial share of the hip replacement implants market. These implants assist in realigning damaged joints instead of total replacement. They are alternatives for total hip replacement. Many key players are investing on R&D in order to create new ceramic implants for better patient outcomes. For instance, there is an ongoing clinical trial on a ceramic device implant “H1,” which is expected to result in faster recovery as compared to total hip implants.
Application Insights
On the basis of application, the market is segmented into Metal-on-Polyethylene (MOP), Metal-on-Metal (MOM), Ceramic-on-Metal (COM), Ceramic-on-Polyethylene (COP), and Ceramic-on-Ceramic (COC). Metal on polyethylene held the largest revenue share as of 2018. It is the most cost-effective implant among others and its added benefits include fewer complications and lesser wear particles.
Metal-on-metal is widely used for total hip replacement and revision hip replacement surgery. Postsurgery complications and inflammatory reactions may restraint the growth of this segment in the coming years. The COP market is expected to show significant growth over the forecast period, owing to its lowest wear rate and fewer complications. Some major players in this segment are CermacTec, Biomet, Stryker, Corin Group, and DePuySynthesOrthopedics.
End-use Insights
Hospitals and surgery centers held the largest revenue share of the end-user segment as of 2018. The segment is driven by an increased number of hip implant surgeries within these facilities. These centers are equipped with the latest technologies and skilled healthcare professionals, which further boosts segment growth. Furthermore, collaborations between hospitals and industry players in order to create advanced surgical procedures are aiding growth.
The orthopedic clinic segment is expected to show lucrative growth over the forecast period. This growth can be attributed to the availability of skilled surgeons and the presence of well-developed infrastructure. An increase in the number of orthopedic clinics is another major factor supporting growth. On the other hand, according to the AAOS report, the number of patients requiring hip replacement surgery will outpace the number of orthopedic surgeons available in the coming years, which can be an untapped opportunity for the market.
Regional Insights
North America accounted for the largest share as of 2018, owing to favorable healthcare infrastructure and the presence of key industry players. Moreover, the growing incidence of osteoporosis & osteoarthritis and rising number of sports & road injuries are some major factors aiding the growth of the regional market. Favorable reimbursement policies for patients are anticipated to increase the number of surgeries, which in turn is expected to support growth in the near future.
Asia Pacific is expected to witness lucrative growth over the forecast period. Factors such as growing healthcare spending in emerging Asian marketplaces and growing elderly population, which have a higher risk of developing osteoarthritis, osteoporosis, & bone injuries, and rising incidence of obesity will contribute to the growth over several years. In addition, rapidly developing healthcare infrastructure due to the booming medical tourism industry is impelling market demand in the region.
The availability of resources that enable the development of advanced technology at a cheaper cost is resulting in manufacturing growth in countries such as China and India. In addition, China has released Order 650 in 2014 (former Order 276) - Regulations for Supervision and Administration of Medical Devices - to restrict foreign investment in the country, mainly to protect domestic medical devices manufacturing industry. As a result, the number of local orthopedic manufacturers is anticipated to grow in the near future.
Key Players
Key players in the global market include Stryker, Zimmer Biomet, DePuySynthes Companies (Johnson & Johnson), Smith & Nephew, Wright Medical Group, MicroPort Scientific Corporation, Exactech, Inc., OMNIlife science, Inc., B. Braun Melsungen AG, and DJO Global, Inc.
Market Segmentation
- By Product
- Total Hip Replacement Implants
- Partial Hip Replacement Implants
- Hip Resurfacing Implants
- Revision Hip Replacement Implants
- By Material
- Metal-on-metal
- Metal-on-polyethylene
- Ceramic-on-metal
- Ceramic-on-polyethylene
- Ceramic-on-ceramic
- By End User
- Hospitals
- Ambulatory Surgery Centers
- Orthopedic Clinics
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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