Global Hip Replacement Implants Market: Industry Analysis and Forecast (2020-2026)

[akash Arjun pingale]

Global Hip Replacement Implants Market is expected to reach US$ XX Mn by 2026 from US$ XX Mn in 2019, at a CAGR of 4.9% during the forecast period.

Global Hip Replacement Implants Market Overview:

Hip implants are a medical device that is used to restore mobility and relieve pain associated with arthritis and other hip disorders or accidents. Every hip implant has benefits and drawbacks. Device design elements such as size, shape, material, and measurements vary for each hip implant system.

Global Hip Replacement Implants Market Dynamics:

Rising cases of Osteoarthritis is the major factor driving the market growth.

The global hip replacement market is likely to grow during the forecast period, because of rising incidences of osteoarthritis and a growing geriatric population. The development of materials such as ceramic and polymer is expected to help solve problems associated with traditional devices, such as implant deterioration over time and an increase in the number of metallic ions in the patient's body.

Over the forecast period, the worldwide hip replacement market is predicted to grow due to an increase in the prevalence of musculoskeletal illnesses. The study "Osteoarthritis year in review 2019: epidemiology and therapy," published in the journal Osteoarthritis and Cartilage in January 2020 state that the population with disability due to musculoskeletal disorders increased from 11.8% in 2000 to 13.5% (9.6–16.6) in 2015. According to the National Institute of Health, the geriatric population is more prone to hip abnormalities, and almost a million hip operations are conducted each year (NIH).

Non-metal materials such as polymer and ceramic are expected to assist and solve issues with traditional devices, such as increased metallic ions in the bloodstream of patients and implant deterioration with time. Newer operating techniques have reduced the length of stay in the hospital after a full hip replacement to less than four days. On the other hand, strict FDA regulations for all-metal hip implant products, high surgical costs, and a lack of awareness in rural parts of various emerging nations are a few barriers that are posing a threat to the market's growth.

The report has profiled twenty-one key players in the market from different regions. However, the report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation the size of the same. Increasing R&D activities in each region are different and focus is given on the regional impact on the cost, availability of advanced technology are analyzed and report has come up with recommendations for a future hot spot in APAC region.

Global Hip Replacement Implants Market Segment Analysis:

The Global Hip Replacement Implants Market is segmented on the basis of Product, Material and End-Users.

Based on Product, the Total Hip Replacement segment is expected to dominate the global market during the forecast period. Total hip replacement is a treatment that involves removing the injured hip and replacing it with a prosthesis made of metal, ceramic, or plastic components, or a mix of these materials. When joint deterioration is irreversible and obstructs joint function, hip replacement is a possibility.

Because of the increased desire for minimally invasive surgeries and continued technological improvements, total hip implants held the greatest market share in 2018. Furthermore, the rising prevalence of osteoarthritis is a major market driver. The HipAlign application, which delivers smart guidance technology during surgery, was launched in May 2019 by OrthoAlign, Inc.

Based on Material, the Metal-on-polyethylene segment accounted for a significant market share in 2019. Among the advantages, it is the most cost-effective implant, with fewer problems and wear particles. For total hip replacement and revision hip replacement surgery, metal-on-metal is commonly employed. Inflammatory reactions and postsurgical problems may limit this segment's growth in the coming years. Because of its low wear rate and fewer difficulties, the Ceramic-On-Polyethylene market is predicted to increase significantly throughout the forecast period.

Global Hip Replacement Implants Market

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Global Hip Replacement Implants Market Regional Insights:

Global Hip Replacement Implants Market Regional InsightsNorth America holds the dominant market share.

According to the 2018 issue of Autoimmunity Reviews Journal, 80 % of the population over 65 years old in the United States has osteoarthritis, although only 60% of this category exhibits symptoms. Furthermore, rising obesity problems continues to be a big worry among residents, which always necessitates hip reconstruction.

Because of advantageous healthcare infrastructure, North America accounted for the highest share in 2018. Furthermore, the rising frequency of osteoporosis and osteoarthritis, as well as the rising number of sports and road injuries, are all contributing to the regional market's growth.

APAC is expected to witness lucrative growth during the forecast period.

Over the forecast period, Asia Pacific is predicted to grow at a rapid pace. Factors such as rising healthcare spending in emerging Asian markets, an ageing population with a higher risk of osteoarthritis, osteoporosis, and bone injuries, and rising obesity rates will all help to the market's growth over the next few years. Furthermore, the region's market demand is being fuelled by fast increasing healthcare infrastructure as a result of the increase in the medical tourism business.

The report also helps in understanding the Global Hip Replacement Implants Market dynamics, structure by analyzing the market segments and project the Global Hip Replacement Implants Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Hip Replacement Implants Market make the report investor’s guide.

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Global Hip Replacement Implants Market Scope: Inquire before buying

Global Hip Replacement Implants Market

Global Hip Replacement Implants Market, by Region

• North America

• Europe

• South America

• MEA

• APAC

Global Hip Replacement Implants Market Key Players

• Stryker

• Zimmer Biomet

• DePuy Synthes Companies (Johnson & Johnson)

• Smith & Nephew

• Wright Medical Group

• MicroPort Scientific Corporation

• Exactech, Inc.

• OMNIlife science, Inc.

• B. Braun Melsungen AG

• DJO Global, Inc.

• Corin

• Waldemer Link GmbH & Co. KG

• Arthrex, Inc.

• Conformis

• Corentec Co., Ltd.

• Elite Surgical

• Synergie Ingenierie Medicale

• Integra LifeSciences Corporation

• Medacta International

• Tecomet,Inc.

• Peter Brehm GmbH

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