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Global Hip Replacement Implants Market: By Product: Total Hip Replacement, Partial Femoral Head, Hip Resurfacing, Revision Hip; By Component; By Application; By End Use; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Global Hip Replacement Implants Market Outlook
The global hip replacement implants market stood at a value of around USD 6.9 billion in 2021. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 5.20% to reach USD 9.3 billion by 2027.
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Growing Demand for Total Hip Replacement Procedures to Aid the Industry Growth
Based on product, the total hip replacement segment accounts for a significant share in the market owing to the rising cases of osteoarthritis, coupled with the increasing inclination of patients towards minimally invasive surgeries. Total hip replacement can provide significant relief from arthritic hip pain to the patients. In addition to this, total hip replacement can boost mobility and can lead to dramatic improvement in quality of life, which is a major advantage. Being one of the most cost-effective interventions in medicine, the demand for total hip arthroplasty is expected to significantly increase in the forecast period.
North America Accounts for a Significant Share in the Market
The market for hip replacement implants in North America is driven by the rising healthcare expenditure in countries such as the United States and Canada. The region has witnessed a significant increase in cases of road or sport-related injuries, which has propelled the demand for hip replacement implants. Furthermore, the favourable reimbursement policies introduced by the government is likely to be an aiding factor for the market in the forecast period.
Hip Replacement Implants: Market Segmentation
Hip replacement implants are the medical devices aimed towards mobilising patients and reducing the pain associated with any injury. The design and application of hip replacement implants can vary from one patient to another patient, depending upon their needs.
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Based on product, the market can be segmented into:
- Total Hip Replacement
- Partial Femoral Head
- Hip Resurfacing
- Revision Hip
By component, the market is divided into:
- Ace Tabular Cup Systems
- Hip Stem Systems
- Revision Accessories and Components
The major applications of hip replacement implants include:
- Metal-on-Metal
- Metal-on-Polyethylene
- Ceramic-on-Polyethylene
- Ceramic-on-Metal
- Ceramic-on-Ceramic
The different end uses of the product include:
- Orthopaedic Clinics
- Hospitals and Surgery Centres
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand in Orthopaedic Clinics to Bolster the Market for Hip Replacement Implants
The rising application of hip replacement implants in orthopaedic clinics owing to the increasing cases of osteoarthritis, rheumatoid arthritis, osteonecrosis, fractures, and bone tumours, among others is driving the global market for hip replacement implants. In addition to this, the growing awareness regarding advanced treatment options among the patients suffering from osteoarthritis or inflammatory arthritis is likely to provide a further impetus to the market. Moreover, the development of non-invasive surgical procedures, which can effectively replace conventional procedures and associated problems, is likely to augment the market in the forecast period.
Key Industry Players in the Global Hip Replacement Implants Market
The report gives a detailed analysis of the following key players in the global hip replacement implants market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Zimmer Biomet Holdings, Inc.
- Stryker Corporation
- Smith & Nephew plc
- MicroPort Scientific Corporation
- Exactech, Inc.
- B. Braun Melsungen AG
- DJO, LLC
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product, Component, Application, End Use, Region |
| Breakup by Product | Total Hip Replacement, Partial Femoral Head, Hip Resurfacing, Revision Hip |
| Breakup by Component | Ace Tabular Cup Systems, Hip Stem Systems, Revision Accessories and Components |
| Breakup by Application | Metal-on-Metal, Metal-on-Polyethylene, Ceramic-on-Polyethylene, Ceramic-on-Metal, Ceramic-on-Ceramic |
| Breakup by End Use | Orthopaedic Clinics, Hospitals and Surgery Centres, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith & Nephew plc, MicroPort Scientific Corporation, Exactech, Inc., B. Braun Melsungen AG, DJO, LLC, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Hip Replacement Implants Market Analysis
8.1 Key Industry Highlights
8.2 Global Hip Replacement Implants Historical Market (2018-2022)
8.3 Global Hip Replacement Implants Market Forecast (2023-2028)
8.4 Global Hip Replacement Implants Market by Product
8.4.1 Total Hip Replacement
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Partial Femoral Head
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Hip Resurfacing
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Revision Hip
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.5 Global Hip Replacement Implants Market by Component
8.5.1 Ace Tabular Cup Systems
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Hip Stem Systems
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Revision Accessories and Components
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.6 Global Hip Replacement Implants Market by Application
8.6.1 Metal-on-Metal
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Metal-on-Polyethylene
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Ceramic-on-Polyethylene
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Ceramic-on-Metal
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Ceramic-on-Ceramic
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
8.7 Global Hip Replacement Implants Market by End Use
8.7.1 Orthopaedic Clinics
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Hospitals and Surgery Centres
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Others
8.8 Global Hip Replacement Implants Market by Region
8.8.1 Market Share
8.8.1.1 North America
8.8.1.2 Europe
8.8.1.3 Asia Pacific
8.8.1.4 Latin America
8.8.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Zimmer Biomet Holdings, Inc.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Stryker Corporation
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Smith & Nephew plc
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 MicroPort Scientific Corporation
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Exactech, Inc.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 B. Braun Melsungen AG
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 DJO, LLC
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Hip Replacement Implants Market: Key Industry Highlights, 2018 and 2028
2. Global Hip Replacement Implants Historical Market: Breakup by Product (USD Billion), 2018-2022
3. Global Hip Replacement Implants Market Forecast: Breakup by Product (USD Billion), 2023-2028
4. Global Hip Replacement Implants Historical Market: Breakup by Component (USD Billion), 2018-2022
5. Global Hip Replacement Implants Market Forecast: Breakup by Component (USD Billion), 2023-2028
6. Global Hip Replacement Implants Historical Market: Breakup by Application (USD Billion), 2018-2022
7. Global Hip Replacement Implants Market Forecast: Breakup by Application (USD Billion), 2023-2028
8. Global Hip Replacement Implants Historical Market: Breakup by End Use (USD Billion), 2018-2022
9. Global Hip Replacement Implants Market Forecast: Breakup by End Use (USD Billion), 2023-2028
10. Global Hip Replacement Implants Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Hip Replacement Implants Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Hip Replacement Implants Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Hip Replacement Implants Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Hip Replacement Implants Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Hip Replacement Implants Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Hip Replacement Implants Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Hip Replacement Implants Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Hip Replacement Implants Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Hip Replacement Implants Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Hip Replacement Implants Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Hip Replacement Implants Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Global Hip Replacement Implants Market Structure
Key Questions Answered in the Report
In 2021, the global hip replacement implants market attained a value of nearly USD 6.9 billion.
The market is estimated to grow at a CAGR of 5.20% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 9.3 billion by 2027.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the rising cases of osteoarthritis, growing geriatric population, growing medical sector, and favourable reimbursement policies introduced by the government.
The growing demand for minimally invasive surgical procedures is expected to be a key trend guiding the growth of the industry.
Total hip replacement, partial femoral head, hip resurfacing, and revision hip are the major products included in the market report.
Ace tabular cup systems, hip stem systems, and revision accessories and components are the significant segments based on component.
Metal-on-metal, metal-on-polyethylene, ceramic-on-polyethylene, ceramic-on-metal, and ceramic-on-ceramic are the different applications of hip replacement implants.
Orthopaedic clinics, hospitals and surgery centres, and others are the significant end uses of the product.
The major players in the industry are Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith & Nephew plc, MicroPort Scientific Corporation, Exactech, Inc., B. Braun Melsungen AG, and DJO, LLC, among others.
Analyst Review
The global hip replacement implants market attained a value of USD 6.9 billion in 2021, driven by the increasing inclination towards non-invasive surgeries. Aided by the technological advancements in the healthcare sector, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 5.20%. The market is projected to reach USD 9.3 billion by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product, the market is divided into total hip replacement, partial femoral head, hip resurfacing, and revision hip. On the basis of component, the market is divided into ace tabular cup systems, hip stem systems, and revision accessories and components. The different applications of the product include metal-on-metal, metal-on-polyethylene, ceramic-on-polyethylene, ceramic-on-metal, and ceramic-on-ceramic. By end use, the market is segmented into orthopaedic clinics, hospitals and surgery centres, and others. The major regional markets for hip replacement implants are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith & Nephew plc, MicroPort Scientific Corporation, Exactech, Inc., B. Braun Melsungen AG, and DJO, LLC, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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