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Hip Replacement Market Report 2020 to register a CAGR of 4.9% to reach US$ 10,311.3 Million by 2027, Owing to Increasing Incidence of Trauma/Accidental Injuries

December 3rd, 2020 Coherent Market Insights Releases

Total hip replacement involves replacing damaged bone and cartilage with artificial prosthetic components such as hip stem system, acetabular cup system, and others. The damaged femoral head is removed and replaced with a metal stem (cemented/non cemented) that is placed into the hollow center of the femur. The procedure is done partly (hemi-arthroplasty) or fully (bipolar – hemiarthroplasty). Partial hip replacement, also known as hiphemiarthroplasty, is a surgical procedure where only the femoral head (the ball) of the damaged hip joint is replaced.

Statistics:

The global hip replacement market is estimated to account for US$ 10,311.3 Mn in terms of value by the end of 2027.

Request FREE Sample – https://www.coherentmarketinsights.com/insight/request-sample/3642

Global Hip Replacement Market: Drivers

Increasing incidence of trauma/accidental injuries is expected to propel growth of the global hip replacement market over the forecast period. For instance, according to January 2018 factsheet of the World Health Organization, 20–30% of older people who fall suffer moderate to severe injuries such as bruises, hip fractures, or head trauma, in the U.S.

Global Hip Replacement Market: Opportunities 

R&D regarding contact pressure in hip implants is expected to offer lucrative growth opportunities for players in the global hip replacement market. For instance, in July 2018, researchers at IRCCS—Istituto Ortopedico Rizzoli, Italy, assessed the impact of radial clearance on the acetabular cup contact pressure in hip implants.

Global Hip Replacement Market: Restraints

Products recalls are expected to hamper growth of the market. For instance, in September 2019, Zimmer Biomet sent an urgent recall letter to hospitals and surgeons concerning its legacy Biomet products that included extremities, hip, knee, and trauma lines.

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Key Takeaways:

The Total Hip Replacement Implant segment in the global hip replacement market was valued at US$ 4,179.1 Mn in 2019 and is expected to reach US$ 6,112.4 Mn by 2027 at a CAGR of 4.9% during the forecast period. The growth of the segment is attributed to increasing incidence of trauma/accidental injuries during the forecasted period.

The Hip Stem Systems segment held dominant position in the global hip replacement market in 2019, accounting for 54.2% share in terms of value, followed by acetabular Cup Systems, respectively. The major factor attributing to the growth of the segments during the forecast period constitutes of technological advancements and increasing prevalence of musculoskeletal disorders.

Market Trends

Market players are focusing on using sturdy biocompatible materials that can withstand the more active lifestyles of many patients.

Several countries are focused on adopting a registry for post-marketing surveillance in order to collect data related to joint prosthetics in order to assess the efficacy of an implant, its lifetime, and performance for the treatment of specific cases. Moreover, registries can aid in providing education and training to surgeons regarding ideal prosthesis and surgical techniques.

Regulations

Europe

Most hip prosthetic and lower extremity implant devices are class II & III with a CE marking. Manufacturers and healthcare establishments supplying medical devices to be placed on the market either for use or distribution, at a cost or free of charge, will follow the regulations.

The regulatory framework stems from three European Directives –

  • Directive 90/385/EEC on active implantable medical devices
  • Directive 93/42/EEC on medical devices
  • Directive 98/79/EC on in vitro diagnostic medical devices

View Press Release For More Information @ https://www.coherentmarketinsights.com/press-release/hip-replacement-market-2938

Global Hip Replacement Market: Competitive Landscape 

Major players operating in the global hip replacement market include, Depuy Synthes (Johnson & Johnson), Microport Scientific Corporation, Zimmer Biomet, Exactech Inc., DJO Global Inc., Stryker Corporation, B. Braun Melsungen, and Smith & Nephew.

Global Hip Replacement Market: Key Developments

December 2019: Parvizi Surgical Innovation, LLC made a minority investment in Navbit Holdings Pty Ltd, a development-stage hip replacement surgery device company based in Australia

November 2019: Exactech, Inc., a developer and producer of implants, instrumentation, and computer-assisted technologies for joint replacement surgery, acquired its independent distribution partner, Exactech Italia S.p.A.

Segmentation

Scope of the report

  • Hip Replacement Market, By Product Type:
    • Total Hip Replacement Implant
    • Partial Hip Replacement Implant
    • Hip Resurfacing
    • Revision Hip Implants
  • Hip Replacement Market, Components
    • Hip Stem Systems
    • Acetabular Cup Systems
    • Revision Accessories and Components
  • Hip Replacement Market, By End User:
    • Hospitals
    • Orthopedic Clinics
    • Ambulatory Surgical Centers
  • Hip Replacement Market, By Region:
    • North America
      • By Product
        • Total Hip Replacement Implant
        • Partial Hip Replacement Implant
        • Hip Resurfacing
        • Revision Hip Implants
      • Components
        • Hip Stem Systems
        • Acetabular Cup Systems
        • Revision Accessories and Components
      • By End-User
        • Hospitals
        • Orthopedic Clinics
        • Ambulatory Surgical Centers
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Product
      • Components
      • By End-User
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Product
      • Components
      • By End-User
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product
      • Components
      • By End-User
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Product
      • Components
      • By End-User
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Product
      • Components
      • By End-User
      • By Country:
        • South Africa
        • Central Africa
        • North Africa
About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

To know more about us, please visit our website – www.coherentmarketinsights.com

Contact:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

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