Hip Implants Market
Hip Implants Market Analysis
The global hip implants market is predicted to touch USD 9,300 million at a 4.1% CAGR between 2019- 2025, reveals the new Market Research Future (MRFR) report. Hip implants, simply put, are medical devices that are used for relieving pain and restoring mobility in those having hip-related problems. They are available under two categories- partial hip replacement implants and total hip replacement implants.
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Various factors are adding to the global hip implants market share. These factors, as per the new MRFR report, include increasing cases of accidental injuries, growing geriatric population, the launch of custom-made implants, burgeoning demand for hip replacement surgeries, rising number of mergers and acquisitions by top industry players, and increasing prevalence of hip-related disorders.
On the contrary, rising recalls of hip implants and strict government regulations on all-metal hip implants are factors that may limit the global hip implants market growth over the forecast period.
Hip Implants Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the global hip implants market based on end user, material, and product.
Based on product, the global hip implants market is segmented into partial hip replacement implants and total hip replacement implants. Total hip replacement implants are again segmented into mobile-bearing total hip implants and fixed-bearing hip implants. Partial hip implants are again segmented into revision hip replacement implants and resurfacing implants. Of these, the total hip replacement implants will lead the market over the forecast period for the rising cases of hip-related disorders and the increasing geriatric population. Partial hip replacement implant devices, on the other hand, are likely to grow at the fastest pace over the forecast period for less friction and deterioration than the all-metal hip implant.
Based on material, the global hip implants market is segmented into ceramic-on-ceramic, ceramic-on-polyethylene, ceramic-on-metal, metal-on-metal, and metal-on-polyethylene. Of these, metal-on-polyethylene is predicted to dominate the market over the forecast period for the burgeoning demand for polymers as this decreases the side effects compared to regular hip implants. Meanwhile, ceramic-on-metal is predicted to have exponential growth over the forecast period for less deterioration and friction than metal hip implants.
Based on end users, the global hip implants market is segmented into ambulatory surgical centers, orthopedic clinics, hospitals, and others. Of these, hospitals will have the lions share in the market over the forecast period for the availability of different treatment options and facilities in hospitals. Meanwhile, orthopedic clinics are likely to have significant growth over the forecast period for the presence of well-developed infrastructure and the availability of skilled surgeons.
Hip Implants Market Regional Analysis
Based on the region, the global hip implants market report covers the recent trends and growth opportunities across Europe, the Americas, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will lead the market over the forecast period for the presence of top players in the region and the rising incidence of hip-related disorders.
The global hip implants market in Europe is predicted to hold the second-largest share over the forecast period. Factors adding to the global hip implants market growth in the region include high expenditure on R&D in hip replacement surgery and rapid innovation in technology.
The global hip implants market in the APAC region is predicted to grow at the fastest pace over the forecast period for the rise in geriatric population and the increasing cases of joint-related disorders and osteoarthritis among the geriatric population.
The global hip implants market in the MEA is predicted to have the smallest share over the forecast period for limited exposure to technological advances and limited healthcare infrastructure.
Hip Implants Market Key Players
Notable players profiled in the global hip implants market report include Aesculap Implant Systems, LLC (US), B. Braun Melsungen AG (Germany), Exactech, Inc. (US), Smith & Nephew PLC (UK), Zimmer Biomet Holdings, Inc. (US), Stryker Corporation (UK), MicroPort Scientific Corporation (China), OMNILife Science, Inc. (US), DJO Global, Inc. (US), and Corin (UK).
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