The global hip replacement implants market size was valued at US$ 5.2 billion in 2020 and is projected to hit US$ 7 billion by 2030.
The global hip replacement implants market size was valued at US$ 5.2 billion in 2020 and is 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.
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.
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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.
Report Highlights
The global hip replacement implants market has been segmented based on product, material, end user, and region
In terms of product, the global hip replacement implants market has been classified into total hip replacement implants, partial hip replacement implants, hip resurfacing implants, and revision hip replacement implants. The total hip replacement implants segment has been bifurcated into fixed bearing hip implant and mobile bearing hip implant. Increase in incidence of osteoarthritis, rheumatoid arthritis, and other musculoskeletal conditions is projected to boost the growth of the global hip replacement implants market during the forecast period.
Based on material, the global hip replacement implants market has been categorized into metal-on-metal, metal-on-polyethylene, ceramic-on-metal, ceramic-on-polyethylene, and ceramic-on-ceramic. The metal-on-polyethylene segment accounted for a major share of the global market in 2020, owing to rise in prevalence of joint diseases in developing countries and increase in geriatric population. Various material combinations and innovation in metal-on-polyethylene materials are transforming the market rapidly.
In terms of end user, the global hip replacement implants market has been divided into hospitals, ambulatory surgery centers, orthopedic clinics, and others. The hospitals segment accounted for a significant market share in 2020 attributable to increase in awareness about health and availability of various facilities in hospitals for hip replacement surgery.
North America dominated the global hip replacement implants market in 2020. This can be ascribed to rapid technological advancements, high geriatric population, and stability in product pricing and reimbursement procedures. Presently, North America has the highest rate of implant procedures, nearly double of that in Europe.
The market in Asia Pacific is likely to grow at a rapid pace during the forecast period. Rise in hip replacement surgeries, rapid adoption of hip implants, and high economic growth of countries such as China, India, Singapore, Malaysia, Indonesia, and South Korea are projected to propel the market in Asia Pacific during the forecast period. Improving healthcare infrastructure, rise in private and public investment in public healthcare, and technological advancements in countries are anticipated to drive the hip replacement implants market in the region from 2021 to 2030.
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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