The Hip Replacement Market Size was valued at USD 7.7 Bn in 2023 and is expected to reach USD 11.20 Bn by 2031 and grow at a CAGR of 4.8% over the forecast period of 2024-2031.
Hip replacement surgery, sometimes referred to as hip arthroplasty, involves replacing a diseased or injured hip joint with an artificial joint, usually referred to as a prosthesis or implant. When various non-surgical treatments have failed to sufficiently relieve hip pain and impairment, it is typically undertaken. Where the femur (thigh bone) meets the pelvis, a ball-and-socket joint called the hip is formed. The femoral head, which is the ball element of the joint and is positioned at the top of the femur, and the acetabulum, which is located in the pelvis, are both given these names. The injured femoral head and the diseased cartilage in the acetabulum are removed during a hip replacement procedure and replaced with prosthetic parts.
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The prosthetic hip joint normally comprises of a plastic, metal, or ceramic socket that replaces the injured acetabulum and a metal or ceramic ball that serves as the replacement for the femoral head. Using bone cement or osseointegration, in which the implant generates bone and fuses to it, the prosthesis can be fastened to the bone.
In order to reach the hip joint during hip replacement surgery, the surgeon creates an incision on the side or back of the hip. The replacement parts are implanted and secured in place after the harmed bone and cartilage are removed. The patient is subsequently transferred to a recovery area after the incision has been stitched up.
Driver
The rising cases of osteoarthritis.
The awareness of the high-quality life for the patients suffering from the adverse physical condition.
The results of hip replacement surgery can significantly alter a person's general quality of life. People can engage in activities including walking, climbing stairs, exercising, and engaging in leisure activities again thanks to pain relief, improved mobility, and function restoration. This may result in a more rewarding, active, and joyful way of life.
Restrain
The risk associated with the surgery.
Infection, blood clots, anaesthesia issues, blood vessel or nerve injury, joint dislocation, and prosthesis failure are some of the hazards associated with hip replacement surgery, as are those associated with any surgical operation. Although these dangers are quite minor, surgeons take measures to reduce them.
Challenge
The Pre-health conditions can create issues for the patients in terms of recovery, or any other adverse effects.
Opportunity
The rising technological advancement in the healthcare industry and the rising investments for the same.
It may be difficult to obtain the medical devices, implants, and materials required for hip replacement surgery if the conflict affects trade routes or causes trade restrictions. This may cause delays or restrictions when carrying out the processes.
Conflict conditions may cause healthcare workers to leave the impacted areas. The availability of specialised surgeons and healthcare professionals with training in hip replacement surgery may be impacted by this loss of competent staff. Healthcare staff and resources may be shifted during times of conflict to treat war-related injuries and provide emergency care. When resources are devoted to urgent and essential situations, elective treatments like hip replacements may experience delays or capacity limitations.
Impact of Recession
As people and governments limit their budgets, healthcare spending frequently declines during recessions. As a result, healthcare systems may experience financial difficulties, which could have an impact on the accessibility and availability of hip replacement surgeries. Due to resource constraints, hospitals and healthcare facilities may need to put vital treatments ahead of elective procedures.
In areas where healthcare is publicly funded, a recession may result in increasing demand when supplies are scarce. Longer waiting periods for elective procedures, such as hip replacements, may arise from this. Patients' quality of life and functional capacities may be impacted by delays in receiving essential surgical procedures.
By Procedure
Total Replacement
Partial Replacement
Revision & Hip Resurfacing
By End-User
Hospitals & Ambulatory Surgery Centers
Orthopedic Clinics
Others
One of the biggest markets in the world for hip replacements is in North America.
Due to its significant ageing population, high rate of osteoarthritis, and sophisticated healthcare system, the United States makes a significant contribution. Zimmer Biomet, and Stryker Corporation are important participants in this market. The market is expanding as a result of technological developments such the utilisation of minimally invasive procedures and cutting-edge materials.
Due to reasons such a sizable ageing population, rising healthcare costs, and an improved healthcare infrastructure, the hip replacement industry is expanding quickly in the Asia-Pacific area.
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The major players are Zimmer Biomet, DePuy Synthes Companies, Smith & Nephew, Stryker, Exactech, Conformis, MicroPort Scientific Corporation, B. Braun Melsungen AG, Gruppo Bioimpianti and others.
Zimmer Biomet: Exclusive Multi-Year Co-Marketing Agreement for the HipInsightTM Mixed Reality System for Total Hip Replacement is Announced by Zimmer Biomet and Surgical Planning Associates.
Stryker: The launch of Insignia Hip Stem at the American academy of Orthopaedic Surgeons.
| Report Attributes | Details |
| Market Size in 2023 | US$ 7.7 Bn |
| Market Size by 2031 | US$ 11.20 Bn |
| CAGR | CAGR of 4.8% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Procedure (Total Replacement, Partial Replacement, Revision & Hip Resurfacing) • By End-User (Hospitals & Ambulatory Surgery Centers, Orthopedic Clinics, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Zimmer Biomet, DePuy Synthes Companies, Smith & Nephew, Stryker, Exactech, Conformis, MicroPort Scientific Corporation, B. Braun Melsungen AG, Gruppo Bioimpianti |
| Key Drivers | • The rising cases of osteoarthritis. • The awareness of the high-quality life for the patients suffering from the adverse physical condition. |
| Market Restraints | • The risk associated with the surgery. |
Ans: The Compound Annual Growth rate for Hip Replacements Market over the forecast period is 4.8%.
Ans. The Hip Replacement Market Size was valued at USD 7.7 Bn in 2023 and is expected to reach USD 11.20 Bn by 2031 and grow at a CAGR of 4.8% over the forecast period of 2024-2031.
Ans. North America is the fastest growing region of the Hip Replacements Market.
Ans. The major key players are Zimmer Biomet, DePuy Synthes Companies, Smith & Nephew, Stryker, Exactech, Conformis, MicroPort Scientific Corporation, B. Braun Melsungen AG, Gruppo Bioimpianti and others.
Ans. The rising cases of osteoarthritis. and the awareness of the high-quality life for the patients suffering from the adverse condition.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Hip Replacement Market Segmentation, by Procedure
8.1 Total Replacement
8.2 Partial Replacement
8.3 Revision & Hip Resurfacing
9. Hip Replacement Market Segmentation, by End User
9.1 Hospitals & Ambulatory Surgery Centers
9.2 Orthopedic Clinics
9.3 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Hip Replacement Market by Country
10.2.2North America Hip Replacement Market by Procedure
10.2.3 North America Hip Replacement Market by End-User
10.2.4 USA
10.2.4.1 USA Hip Replacement Market by Procedure
10.2.4.2 USA Hip Replacement Market by End-User
10.2.5 Canada
10.2.5.1 Canada Hip Replacement Market by Procedure
10.2.5.2 Canada Hip Replacement Market by End-User
10.2.6 Mexico
10.2.6.1 Mexico Hip Replacement Market by Raw Technology
10.2.6.2 Mexico Hip Replacement Market by End-User
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Hip Replacement Market by Country
10.3.1.2 Eastern Europe Hip Replacement Market by Procedure
10.3.1.3 Eastern Europe Hip Replacement Market by End-User
10.3.1.4 Poland
10.3.1.4.1 Poland Hip Replacement Market by Procedure
10.3.1.4.2 Poland Hip Replacement Market by End-User
10.3.1.5 Romania
10.3.1.5.1 Romania Hip Replacement Market by Procedure
10.3.1.5.2 Romania Hip Replacement Market by End-User
10.3.1.6 Hungary
10.3.1.6.1 Hungary Hip Replacement Market by Procedure
10.3.1.6.2 Hungary Hip Replacement Market by End-User
10.3.1.7 Turkey
10.3.1.7.1 Turkey Hip Replacement Market by Procedure
10.3.1.7.2 Turkey Hip Replacement Market by End-User
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Hip Replacement Market by Procedure
10.3.1.8.2 Rest of Eastern Europe Hip Replacement Market by End-User
10.3.2 Western Europe
10.3.2.1 Western Europe Hip Replacement Market by Country
10.3.2.2 Western Europe Hip Replacement Market by Procedure
10.3.2.3 Western Europe Hip Replacement Market by End-User
10.3.2.4 Germany
10.3.2.4.1 Germany Hip Replacement Market by Procedure
10.3.2.4.2 Germany Hip Replacement Market by End-User
10.3.2.5 France
10.3.2.5.1 France Hip Replacement Market by Procedure
10.3.2.5.2 France Hip Replacement Market by End-User
10.3.2.6 UK
10.3.2.6.1 UK Hip Replacement Market by Procedure
10.3.2.6.2 UK Hip Replacement Market by End-User
10.3.2.7 Italy
10.3.2.7.1 Italy Hip Replacement Market by Procedure
10.3.2.7.2 Italy Hip Replacement Market by End-User
10.3.2.8 Spain
10.3.2.8.1 Spain Hip Replacement Market by Procedure
10.3.2.8.2 Spain Hip Replacement Market by End-User
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Hip Replacement Market by Procedure
10.3.2.9.2 Netherlands Hip Replacement Market by End-User
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Hip Replacement Market by Procedure
10.3.2.10.2 Switzerland Hip Replacement Market by End-User
10.3.2.11 Austria
10.3.2.11.1 Austria Hip Replacement Market by Procedure
10.3.2.11.2 Austria Hip Replacement Market by End-User
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Hip Replacement Market by Procedure
10.3.2.12.2 Rest of Western Europe Hip Replacement Market by End-User
10.4 Asia-Pacific
10.4.1 Asia Pacific Hip Replacement Market by Country
10.4.2 Asia Pacific Hip Replacement Market by Procedure
10.4.3 Asia Pacific Hip Replacement Market by End-User
10.4.4 China
10.4.4.1 China Hip Replacement Market by Procedure
10.4.4.2 China Hip Replacement Market by End-User
10.4.5 India
10.4.5.1 India Hip Replacement Market by Procedure
10.4.5.2 India Hip Replacement Market by End-User
10.4.6 Japan
10.4.6.1 Japan Hip Replacement Market by Procedure
10.4.6.2 Japan Hip Replacement Market by End-User
10.4.7 South Korea
10.4.7.1 South Korea Hip Replacement Market by Procedure
10.4.7.2 South Korea Hip Replacement Market by End-User
10.4.8 Vietnam
10.4.8.1 Vietnam Hip Replacement Market by Procedure
10.4.8.2 Vietnam Hip Replacement Market by End-User
10.4.9 Singapore
10.4.9.1 Singapore Hip Replacement Market by Procedure
10.4.9.2 Singapore Hip Replacement Market by End-User
10.4.10 Australia
10.4.10.1 Australia Hip Replacement Market by Procedure
10.4.10.2 Australia Hip Replacement Market by End-User
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Hip Replacement Market by Procedure
10.4.11.2 Rest of Asia-Pacific APAC Hip Replacement Market by End-User
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Hip Replacement Market by Country
10.5.1.2 Middle East Hip Replacement Market by Procedure
10.5.1.3 Middle East Hip Replacement Market by End-User
10.5.1.4 UAE
10.5.1.4.1 UAE Hip Replacement Market by Procedure
10.5.1.4.2 UAE Hip Replacement Market by End-User
10.5.1.5 Egypt
10.5.1.5.1 Egypt Hip Replacement Market by Procedure
10.5.1.5.2 Egypt Hip Replacement Market by End-User
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Hip Replacement Market by Procedure
10.5.1.6.2 Saudi Arabia Hip Replacement Market by End-User
10.5.1.7 Qatar
10.5.1.7.1 Qatar Hip Replacement Market by Procedure
10.5.1.7.2 Qatar Hip Replacement Market by End-User
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Hip Replacement Market by Procedure
10.5.1.8.2 Rest of Middle East Hip Replacement Market by End-User
10.5.2 Africa
10.5.2.1 Africa Hip Replacement Market by Country
10.5.2.2 Africa Hip Replacement Market by Procedure
10.5.2.3 Africa Hip Replacement Market by End-User
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Hip Replacement Market by Procedure
10.5.2.4.2 Nigeria Hip Replacement Market by End-User
10.5.2.5 South Africa
10.5.2.5.1 South Africa Hip Replacement Market by Procedure
10.5.2.5.2 South Africa Hip Replacement Market by End-User
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Hip Replacement Market by Procedure
10.5.2.6.2 Rest of Africa Hip Replacement Market by End-User
10.6 Latin America
10.6.1 Latin America Hip Replacement Market by Country
10.6.2 Latin America Hip Replacement Market by Procedure
10.6.3 Latin America Hip Replacement Market by End-User
10.6.4 Brazil
10.6.4.1 Brazil Hip Replacement Market by Procedure
10.6.4.2 Brazil Africa Hip Replacement Market by End-User
10.6.5 Argentina
10.6.5.1 Argentina Hip Replacement Market by Procedure
10.6.5.2 Argentina Hip Replacement Market by End-User
10.6.6 Colombia
10.6.6.1 Colombia Hip Replacement Market by Procedure
10.6.6.2 Colombia Hip Replacement Market by End-User
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Hip Replacement Market by Procedure
10.6.7.2 Rest of Latin America Hip Replacement Market by End-User
11. Company Profile
11.1 Zimmer Biomet
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 DePuy Synthes Companies
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Smith & Nephew
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Stryker
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Exactech
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Conformis
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 MicroPort Scientific Corporation
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 B. Braun Melsungen AG
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Gruppo Bioimpianti
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Others
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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