Hip Replacement Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Hip Replacement Market is segmented by Product (Hip Resurfacing, Hip Revision, Total Hip Replacement, and Others), End User, and Geography.

Hip Replacement Market Snapshot

Hip Replacement Market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 3.5 %

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Market Overview

Hip replacement is a surgical procedure to replace a hip joint with a prosthetic implant. The surgery can be performed either as a total replacement or hemi (half) replacement. The surgery is usually done to relieve pain caused due to arthritis or some fracture in the hip bone. The prevalence of osteoarthritis has been on the rise. Moreover, it is more common in the geriatric population which has been increasing in recent years. This increased prevalence of osteoarthritis is the main driving factor of this market. Other factors like increased cases of injuries and increasing obese population worldwide are also helping this market to grow. But, the procedure is very cost-intensive and may act as an economic burden on patients restraining the growth of the market.

Scope of the Report

As per the scope of the market, hip replacement is a surgical procedure to replace a hip joint with a prosthetic implant. The surgery can be performed either as a total replacement or hemi (half) replacement. The market is evaluated by collating revenues generated across segments, categorized by product, and end-user and geography.

By Product
Hip Resurfacing
Hip Revision
Total Hip Replacement
Others
By End User
Hospitals
Orthopedic Centers
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Total Hip Replacement Segment is Expected to Hold Major Share Over the Forecast Period

Total Hip Replacement a procedure in which the damaged hip is removed and replaced with a prosthesis of metal, ceramic or plastic components or a combination of both. Hip replacement is the option when joint damage is irreparable and it hinders the function of the joint.

Osteoarthritis is the primary reason for total hip replacement. The prevalence of osteoarthritis is increasing due to the aging population and the increase in other related factors like obesity. According to the World Health Organization (WHO), by 2050, nearly 130 million people will suffer from arthritis, of whom 40 million will be severely disabled by this disease. Along with this, other factors including rheumatoid arthritis, hip fracture, septic arthritis, and ankylosing spondylitis, have also helped this market to grow and this is expected to continue over the forecast period.

Hip Replacement Market 3.png

North America Dominates the market

According to Autoimmunity Reviews Journal, 2018, in the United States, it is estimated that 80% of the population over 65 years old have osteoarthritis, although only 60% of this subset has symptoms. Apart from this, the United States and Mexico have the highest prevalence of obesity among the OECD countries (38.2 and 32.4), as per OECD obesity data in 2017. These two are the major factors that drive the market, making North America the largest potential market.

North American countries like the United States and Canada also have a highly developed healthcare system which serves as another factor for this market to dominate.

Hip Replacement Market 2

Competitive Landscape

The majority of the hip replacement implants are being manufactured by the global key players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing the emergence of some small players due to the rise of awareness, which has helped the market to grow.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Number of Osteoarthritis

      2. 4.2.2 Increasing Injury Cases

      3. 4.2.3 Rising Obese Population

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost Associated with the Procedure

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Hip Resurfacing

      2. 5.1.2 Hip Revision

      3. 5.1.3 Total Hip Replacement

      4. 5.1.4 Others

    2. 5.2 By End User

      1. 5.2.1 Hospitals

      2. 5.2.2 Orthopedic Centers

      3. 5.2.3 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 B. Braun Melsungen AG

      2. 6.1.2 Corin

      3. 6.1.3 Johnson & Johnson

      4. 6.1.4 DJO Global, Inc.

      5. 6.1.5 Exactech, Inc.

      6. 6.1.6 MicroPort Scientific Corporation

      7. 6.1.7 Smith & Nephew plc

      8. 6.1.8 Stryker Corporation

      9. 6.1.9 Zimmer Biomet

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Hip Replacement Market market is studied from 2018 - 2026.

The Hip Replacement Market is growing at a CAGR of 3.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

B. Braun Melsungen AG, Stryker Corporation, Johnson & Johnson, Smith & Nephew plc, MicroPort Scientific Corporation are the major companies operating in Hip Replacement Market.

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