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OrthopedicJoint Implant

PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1420391

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PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1420391

Hip Replacement Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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Description

Table of Contents

The world's population is witnessing a significant increase in the percentage of geriatric individuals. According to estimates by the United Nations, the number of people aged over 60 is projected to reach 2.1 billion by 2050, more than doubling from 962 million in 2017. This demographic shift is contributing to the flourishing healthcare industry, particularly in developed countries, with the hip replacement segment gaining strong traction.

Meeting the Needs of the Aging Population

Geriatric individuals are highly susceptible to hip abnormalities, leading to nearly a million hip surgeries being performed each year, as reported by the National Institute of Health (NIH). According to a recent business intelligence publication, the global hip replacement market is set to witness substantial growth, with a notable compound annual growth rate during the forecast period from 2024 to 2031.

In terms of revenue, analysts estimate that the opportunities in the global hip replacement market will translate into US$7.5 billion in 2024, expected to reach US$10.6 billion by 2031.

Technological Advancements and Accessibility

In addition to the aging population, the hip replacement market is benefiting from recent technological advancements. These advancements have not only improved the quality of artificial hips but have also made hip surgeries more affordable for a larger population.

The global hip replacement market also stands to gain from factors such as the prevalence of arthritis and obesity, government initiatives to provide care to aging citizens, and favorable trade regulations. However, challenges such as stringent FDA regulations for all metal hip implant products, high surgery costs, and a lack of awareness in rural areas of emerging economies are hindering the market's growth.

Total Hip Replacement Dominates

Product-wise, the hip replacement market is segmented into total hip implant, partial hip implant, hip resurfacing, and revision hip implant. Among these, the total hip replacement segment is poised to account for a demand share of 58.4% in the global hip replacement market in 2024.

Revenue-wise, the total hip replacement segment is expected to offer opportunities worth US$5,329.4 million in 2024. Total hip arthroplasty involves the removal of damaged bone and cartilage, replaced with artificial prosthetic components such as hip stem systems and acetabular cup systems.

Regional Insights

North America, particularly the United States, is highlighted as a highly profitable region in the global hip replacement market. The United States Census Bureau reports a rising median age, reaching 37.9 years in 2016, and increasing concerns about obesity, both contributing to the demand for hip reconstruction. The North America hip replacement market is estimated to be worth US$4,202.3 million in 2024.

Competitive Analysis:

Some of the prominent players in the global market for hip replacement are,

  • Depuy Synthes (J&J)
  • Microport Scientific Corporation
  • Zimmer Biomet
  • Exactech Inc.
  • DJO Global Inc.
  • Stryker Corporation
  • B Braun Melsungen
  • Smith & Nephew
  • Others

Market Segmentation

By Product Type

  • Total Hip Replacement Implant
  • Partial Hip Replacement Implant
  • Hip Resurfacing Implant
  • Revision Hip Replacement Implant

By Component Type

  • Hip stems
  • Acetabular Cups
  • Revision Accessories and Components

By End Users

  • Hospitals
  • Orthopedic Clinics
  • Ambulatory Surgical Centers
Show more

Table of Contents

1. Executive Summary

  • 1.1. Global Hip Replacement Market Snapshot
  • 1.2. Future Projections
  • 1.3. Key Market Trends
  • 1.4. Regional Snapshot, by Value, 2023
  • 1.5. Analyst Recommendations

2. Market Overview

  • 2.1. Market Definitions and Segmentations
  • 2.2. Market Dynamics
    • 2.2.1. Drivers
    • 2.2.2. Restraints
    • 2.2.3. Market Opportunities
  • 2.3. Value Chain Analysis
  • 2.4. Porter's Five Forces Analysis
  • 2.5. COVID-19 Impact Analysis
    • 2.5.1. Supply
    • 2.5.2. Demand
  • 2.6. Impact of Ukraine-Russia Conflict
  • 2.7. Economic Overview
    • 2.7.1. World Economic Projections
  • 2.8. PESTLE Analysis

3. Global Hip Replacement Market Outlook, 2018 - 2031

  • 3.1. Global Hip Replacement Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
    • 3.1.1. Key Highlights
      • 3.1.1.1. Total Hip Replacement Implant
      • 3.1.1.2. Partial Hip Replacement Implant
      • 3.1.1.3. Hip Resurfacing Implant
      • 3.1.1.4. Revision Hip Replacement Implant
  • 3.2. Global Hip Replacement Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
    • 3.2.1. Key Highlights
      • 3.2.1.1. Hip stems
      • 3.2.1.2. Acetabular Cups
      • 3.2.1.3. Acetabular Cups
      • 3.2.1.4. Revision Accessories and Components
  • 3.3. Global Hip Replacement Market Outlook, by End User, Value (US$ Bn), 2018 - 2031
    • 3.3.1. Key Highlights
      • 3.3.1.1. Hospitals
      • 3.3.1.2. Ambulatory Surgical Centers
      • 3.3.1.3. Orthopedic Clinics
  • 3.4. Global Hip Replacement Market Outlook, by Region, Value (US$ Bn), 2018 - 2031
    • 3.4.1. Key Highlights
      • 3.4.1.1. North America
      • 3.4.1.2. Europe
      • 3.4.1.3. Asia Pacific
      • 3.4.1.4. Latin America
      • 3.4.1.5. Middle East & Africa

4. North America Hip Replacement Market Outlook, 2018 - 2031

  • 4.1. North America Hip Replacement Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
    • 4.1.1. Key Highlights
      • 4.1.1.1. Total Hip Replacement Implant
      • 4.1.1.2. Partial Hip Replacement Implant
      • 4.1.1.3. Hip Resurfacing Implant
      • 4.1.1.4. Revision Hip Replacement Implant
  • 4.2. Global Hip Replacement Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
    • 4.2.1. Key Highlights
      • 4.2.1.1. Hip stems
      • 4.2.1.2. Acetabular Cups
      • 4.2.1.3. Acetabular Cups
      • 4.2.1.4. Revision Accessories and Components
  • 4.3. Global Hip Replacement Market Outlook, by End User, Value (US$ Bn), 2018 - 2031
    • 4.3.1. Key Highlights
      • 4.3.1.1. Hospitals
      • 4.3.1.2. Ambulatory Surgical Centers
      • 4.3.1.3. Orthopedic Clinics
  • 4.4. North America Hip Replacement Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
    • 4.4.1. Key Highlights
      • 4.4.1.1. U.S. Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 4.4.1.2. U.S. Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 4.4.1.3. U.S. Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 4.4.1.4. Canada Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 4.4.1.5. Canada Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 4.4.1.6. Canada Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
    • 4.4.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Hip Replacement Market Outlook, 2018 - 2031

  • 5.1. Europe Hip Replacement Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
    • 5.1.1. Key Highlights
      • 5.1.1.1. Total Hip Replacement Implant
      • 5.1.1.2. Partial Hip Replacement Implant
      • 5.1.1.3. Hip Resurfacing Implant
      • 5.1.1.4. Revision Hip Replacement Implant
  • 5.2. Global Hip Replacement Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
    • 5.2.1. Key Highlights
      • 5.2.1.1. Hip stems
      • 5.2.1.2. Acetabular Cups
      • 5.2.1.3. Acetabular Cups
      • 5.2.1.4. Revision Accessories and Components
  • 5.3. Global Hip Replacement Market Outlook, by End User, Value (US$ Bn), 2018 - 2031
    • 5.3.1. Key Highlights
      • 5.3.1.1. Hospitals
      • 5.3.1.2. Ambulatory Surgical Centers
      • 5.3.1.3. Orthopedic Clinics
  • 5.4. Europe Hip Replacement Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
    • 5.4.1. Key Highlights
      • 5.4.1.1. Germany Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 5.4.1.2. Germany Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 5.4.1.3. Germany Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 5.4.1.4. U.K. Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 5.4.1.5. U.K. Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 5.4.1.6. U.K. Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 5.4.1.7. France Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 5.4.1.8. France Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 5.4.1.9. France Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 5.4.1.10. Italy Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 5.4.1.11. Italy Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 5.4.1.12. Italy Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 5.4.1.13. Turkey Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 5.4.1.14. Turkey Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 5.4.1.15. Turkey Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 5.4.1.16. Russia Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 5.4.1.17. Russia Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 5.4.1.18. Russia Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 5.4.1.19. Rest of Europe Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 5.4.1.20. Rest of Europe Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 5.4.1.21. Rest of Europe Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
    • 5.4.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Hip Replacement Market Outlook, 2018 - 2031

  • 6.1. Asia Pacific Hip Replacement Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
    • 6.1.1. Key Highlights
      • 6.1.1.1. Total Hip Replacement Implant
      • 6.1.1.2. Partial Hip Replacement Implant
      • 6.1.1.3. Hip Resurfacing Implant
      • 6.1.1.4. Revision Hip Replacement Implant
  • 6.2. Global Hip Replacement Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
    • 6.2.1. Key Highlights
      • 6.2.1.1. Hip stems
      • 6.2.1.2. Acetabular Cups
      • 6.2.1.3. Acetabular Cups
      • 6.2.1.4. Revision Accessories and Components
  • 6.3. Global Hip Replacement Market Outlook, by End User, Value (US$ Bn), 2018 - 2031
    • 6.3.1. Key Highlights
      • 6.3.1.1. Hospitals
      • 6.3.1.2. Ambulatory Surgical Centers
      • 6.3.1.3. Orthopedic Clinics
  • 6.4. Asia Pacific Hip Replacement Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
    • 6.4.1. Key Highlights
      • 6.4.1.1. China Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 6.4.1.2. China Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 6.4.1.3. China Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 6.4.1.4. Japan Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 6.4.1.5. Japan Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 6.4.1.6. Japan Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 6.4.1.7. South Korea Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 6.4.1.8. South Korea Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 6.4.1.9. South Korea Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 6.4.1.10. India Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 6.4.1.11. India Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 6.4.1.12. India Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 6.4.1.13. Southeast Asia Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 6.4.1.14. Southeast Asia Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 6.4.1.15. Southeast Asia Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 6.4.1.16. Rest of Asia Pacific Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 6.4.1.17. Rest of Asia Pacific Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 6.4.1.18. Rest of Asia Pacific Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
    • 6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Hip Replacement Market Outlook, 2018 - 2031

  • 7.1. Latin America Hip Replacement Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
    • 7.1.1. Key Highlights
      • 7.1.1.1. Total Hip Replacement Implant
      • 7.1.1.2. Partial Hip Replacement Implant
      • 7.1.1.3. Hip Resurfacing Implant
      • 7.1.1.4. Revision Hip Replacement Implant
  • 7.2. Global Hip Replacement Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
    • 7.2.1. Key Highlights
      • 7.2.1.1. Hip stems
      • 7.2.1.2. Acetabular Cups
      • 7.2.1.3. Acetabular Cups
      • 7.2.1.4. Revision Accessories and Components
  • 7.3. Global Hip Replacement Market Outlook, by End User, Value (US$ Bn), 2018 - 2031
    • 7.3.1. Key Highlights
      • 7.3.1.1. Hospitals
      • 7.3.1.2. Ambulatory Surgical Centers
      • 7.3.1.3. Orthopedic Clinics
  • 7.4. Latin America Hip Replacement Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
    • 7.4.1. Key Highlights
      • 7.4.1.1. Brazil Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 7.4.1.2. Brazil Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 7.4.1.3. Brazil Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 7.4.1.4. Mexico Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 7.4.1.5. Mexico Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 7.4.1.6. Mexico Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 7.4.1.7. Argentina Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 7.4.1.8. Argentina Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 7.4.1.9. Argentina Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 7.4.1.10. Rest of Latin America Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 7.4.1.11. Rest of Latin America Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 7.4.1.12. Rest of Latin America Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
    • 7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Hip Replacement Market Outlook, 2018 - 2031

  • 8.1. Middle East & Africa Hip Replacement Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
    • 8.1.1. Key Highlights
      • 8.1.1.1. Total Hip Replacement Implant
      • 8.1.1.2. Partial Hip Replacement Implant
      • 8.1.1.3. Hip Resurfacing Implant
      • 8.1.1.4. Revision Hip Replacement Implant
  • 8.2. Global Hip Replacement Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
    • 8.2.1. Key Highlights
      • 8.2.1.1. Hip stems
      • 8.2.1.2. Acetabular Cups
      • 8.2.1.3. Acetabular Cups
      • 8.2.1.4. Revision Accessories and Components
  • 8.3. Global Hip Replacement Market Outlook, by End User, Value (US$ Bn), 2018 - 2031
    • 8.3.1. Key Highlights
      • 8.3.1.1. Hospitals
      • 8.3.1.2. Ambulatory Surgical Centers
      • 8.3.1.3. Orthopedic Clinics
  • 8.4. Middle East & Africa Hip Replacement Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
    • 8.4.1. Key Highlights
      • 8.4.1.1. GCC Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 8.4.1.2. GCC Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 8.4.1.3. GCC Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 8.4.1.4. South Africa Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 8.4.1.5. South Africa Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 8.4.1.6. South Africa Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 8.4.1.7. Egypt Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 8.4.1.8. Egypt Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 8.4.1.9. Egypt Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 8.4.1.10. Nigeria Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 8.4.1.11. Nigeria Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 8.4.1.12. Nigeria Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
      • 8.4.1.13. Rest of Middle East & Africa Hip Replacement Market by Product Type, Value (US$ Bn), 2018 - 2031
      • 8.4.1.14. Rest of Middle East & Africa Hip Replacement Market by Component, Value (US$ Bn), 2018 - 2031
      • 8.4.1.15. Rest of Middle East & Africa Hip Replacement Market End User, Value (US$ Bn), 2018 - 2031
    • 8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

  • 9.1. Product Type vs End User Heatmap
  • 9.2. Manufacturer vs End User Heatmap
  • 9.3. Company Market Share Analysis, 2023
  • 9.4. Competitive Dashboard
  • 9.5. Company Profiles
    • 9.5.1. Depuy Synthes (J&J)
      • 9.5.1.1. Company Overview
      • 9.5.1.2. Product Type Portfolio
      • 9.5.1.3. Financial Overview
      • 9.5.1.4. Business Strategies and Development
    • 9.5.2. Microport Scientific Corporation
      • 9.5.2.1. Company Overview
      • 9.5.2.2. Product Type Portfolio
      • 9.5.2.3. Financial Overview
      • 9.5.2.4. Business Strategies and Development
    • 9.5.3. Zimmer Biomet
      • 9.5.3.1. Company Overview
      • 9.5.3.2. Product Type Portfolio
      • 9.5.3.3. Financial Overview
      • 9.5.3.4. Business Strategies and Development
    • 9.5.4. Exactech Inc.
      • 9.5.4.1. Company Overview
      • 9.5.4.2. Product Type Portfolio
      • 9.5.4.3. Financial Overview
      • 9.5.4.4. Business Strategies and Development
    • 9.5.5. DJO Global Inc.
      • 9.5.5.1. Company Overview
      • 9.5.5.2. Product Type Portfolio
      • 9.5.5.3. Financial Overview
      • 9.5.5.4. Business Strategies and Development
    • 9.5.6. Stryker Corporation
      • 9.5.6.1. Company Overview
      • 9.5.6.2. Product Type Portfolio
      • 9.5.6.3. Financial Overview
      • 9.5.6.4. Business Strategies and Development
    • 9.5.7. B Braun Melsungen
      • 9.5.7.1. Company Overview
      • 9.5.7.2. Product Type Portfolio
      • 9.5.7.3. Financial Overview
      • 9.5.7.4. Business Strategies and Development
    • 9.5.8. Smith & Nephew.
      • 9.5.8.1. Company Overview
      • 9.5.8.2. Product Type Portfolio
      • 9.5.8.3. Financial Overview
      • 9.5.8.4. Business Strategies and Development

10. Appendix

  • 10.1. Research Methodology
  • 10.2. Report Assumptions
  • 10.3. Acronyms and Abbreviations
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