Hip replacement is a medical procedure which involves replacement of 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.
While the vast majority of people undergo hip replacement, people as young as adolescence have undergone the procedure successfully. This procedure is not limited to older adults and has been used successfully in young people with juvenile arthritis. Although the procedure can greatly improve a person’s quality of life, it does come with certain risks.
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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.
Global Hip Replacement Market: Drivers
Growing incidence of trauma/accidental injuries is projected to propel growth of the global hip replacement market. 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
Increasing R&D regarding contact pressure in hip implants is projected 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 projected to hinder 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.
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% over 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
Key players are focusing on using sturdy biocompatible materials that can withstand the more active lifestyles of many patients.
Various countries are focused on adopting a registry for post-marketing surveillance in order to collect data related to joint prosthetics to assess the efficacy of an implant, its lifetime, and performance for the treatment of specific cases. Additionally, registries can help in providing education and training to surgeons regarding ideal prosthesis and surgical techniques.
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.
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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
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
In 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
In 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
- By Product
- Latin 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:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Product
- Europe
- 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:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Product
- Asia Pacific
- 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:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Product
- Middle East
- 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:
- GCC
- Israel
- Rest of Middle East
- By Product
- Africa
- 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:
- South Africa
- Central Africa
- North Africa
- By Product
- North America
- Company Profiles
- Depuy Synthes (Johnson & Johnson) *
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Strategies
- Microport Scientific Corporation
- Zimmer Biomet
- Exactech Inc.
- DJO Global Inc.
- Stryker Corporation
- B. Braun Melsungen
- Smith & Nephew
- Depuy Synthes (Johnson & Johnson) *
- “*” marked represents similar segmentation in other categories in the respective section.
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Hip Replacement Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Hip Replacement Industry Impact
Chapter 2 Global Hip Replacement Competition by Types, Applications, and Top Regions and Countries
2.1 Global Hip Replacement (Volume and Value) by Type
2.3 Global Hip Replacement (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Hip Replacement Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Hip Replacement Market Analysis
Chapter 6 East Asia Hip Replacement Market Analysis
Chapter 7 Europe Hip Replacement Market Analysis
Chapter 8 South Asia Hip Replacement Market Analysis
Chapter 9 Southeast Asia Hip Replacement Market Analysis
Chapter 10 Middle East Hip Replacement Market Analysis
Chapter 11 Africa Hip Replacement Market Analysis
Chapter 12 Oceania Hip Replacement Market Analysis
Chapter 13 South America Hip Replacement Market Analysis
Chapter 14 Company Profiles and Key Figures in Hip Replacement Business
Chapter 15 Global Hip Replacement Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology
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