Global Hip Replacement Implants Market by Product (Total Hip, Partial Femoral Head), by End Use (Orthopedic Clinics) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global hip replacement implants market was valued at USD 5.56 Billion in 2018. It is expected to grow at a CAGR 4.7% during the forecast period. Increase in demand for hip arthroplasty/replacement surgical procedures, rise in geriatric population, and high prevalence of lower extremity conditions such as Osteoarthritis (OA), osteoporosis and hip ailments are some major growth propelling factors for the market. According to Osteoarthritis Society International, approximately 130 million people will be affected by OA by 2050, as per a report.

Due to technological advances in non-invasive surgery and affordable healthcare in developed countries, the market will continue to grow. Non-metal materials such as ceramic and polymer are expected to overcome the problems that traditional devices face, such as the increased levels of metallic ions in patients' bloodstreams and the gradual deterioration and loss of implant quality. Newer surgical techniques have reduced the hospital stay after full hip replacement surgery from more than four days to under 4 days.

The revenue forecast is also expected to be positive due to the rising number of people with degenerative diseases. The success rate for minimally invasive surgeries has increased with robot-assisted surgery, which is expected to lead to lucrative growth opportunities in this market.

Favorable reimbursement policies further boost growth. The Patient Protection and Affordable Care (PPACA) states that there has been an increase of insurance coverage for orthopedic devices. This allows patients to have greater access. In the last few years, both private and public payers have offered appropriate coverage for orthotics and prosthetics.

Johnson & Johnson's "India centric", reimbursement program was launched in November 2018. It provides full reimbursement to patients for revision surgery within 15-years of the original hip replacement surgery. Conformis, Inc., which is a medical technology company, joined JFK Medical Centre in Florida to perform the first 3D total hip replacement surgery.

Product Insights

The market can be divided into three segments based on products: total hip implants (partial femoral head), hip resurfacing and revision hip. The market share for total hip implants was the highest as of 2018. This is due to growing demand for minimally invasive surgery and technological advances. The market is also being driven by the increasing incidence of osteoarthritis. According to the National Joint Registry for England in 2016, 90% of total hip replacements were performed in the U.K. for osteoarthritis.

In order to improve surgical procedures and expand their market share, industry players continue to work on new technologies and navigation systems. Conformis, Inc. partnered with JFK Medical Center in Florida in August 2018 to perform the first ever 3D total hip replacement surgery. OrthoAlign, Inc. also launched HipAlign, an app that allows for smart navigation during surgery, in May 2019.

A substantial portion of the market for hip replacement implants was also held by hip resurfacing. These implants can be used to realign damaged joints and not for total replacement. These implants can be used as an alternative to total hip replacement. For better patient outcomes, many key players invest in R&D. A clinical trial is ongoing on the ceramic device implant "H1", which is expected to have a faster recovery rate than total hip implants.

Application Insights

On the basis of application, the market is segmented into Metal-on-Polyethylene (MOP), Metal-on-Metal (MOM), Ceramic-on-Metal (COM), Ceramic-on-Polyethylene (COP), and Ceramic-on-Ceramic (COC). As of 2018, the largest revenue share was held by metal on polyethylene. It is the most affordable implant and has additional benefits such as fewer complications, and fewer wear particles.

For revision and total hip replacement, metal-on-metal surgery is a common option. This segment may not grow in the future due to post-surgery complications or inflammatory reactions. Due to its low wear rate and fewer complications, the COP market will experience significant growth in the future. CermacTec and Biomet are the major players in this market, along with Stryker, Corin Group and DePuy Synthes Orthopedics.

End-use Insights

As of 2018, hospitals and surgery centers accounted for the largest revenue share in the end-user segment. This segment is driven by an increase in hip implant surgeries at these centers. These centers have the most up-to-date technology and highly skilled healthcare professionals. This further enhances the segment's growth. Collaborations between industry and hospitals are also beneficial to growth.

Over the forecast period, the orthopedic clinic segment will experience significant growth. This is due to the availability and development of infrastructure. Another factor that supports growth is the increase in orthopedic clinics. AAOS reports that the demand for hip replacement surgery will exceed the available orthopedic surgeons in the next few years. This could be a huge opportunity for the market.

Regional Insights

The largest market share was held by North America in 2018, due to its favorable healthcare infrastructure and presence of key industry leaders. The growth of the region market is also due to the rising incidence of osteoporosis and osteoarthritis, as well as the increasing number of road accidents and sports injuries. Patients will be able to get better reimbursement, which is expected to boost the market's growth.

Over the forecast period, Asia Pacific will experience lucrative growth. The growth will be driven by factors such as rising healthcare spending in emerging Asian markets and a growing elderly population that is at higher risk for developing osteoarthritis, bone injuries, or osteoporosis. There will also be an increase in obesity incidence over the next several years. The region's rapidly growing healthcare infrastructure is driving market demand.

In countries like India and China, the availability of resources which allow for the development of advanced technology at lower costs is driving manufacturing growth. China also released Order 650 (former Order 276) – Regulations for Supervision & Administration of Medical Devices – in 2014 to limit foreign investment in the country. This was primarily to protect the domestic medical device manufacturing industry. The number of local orthopaedic manufacturers will likely increase in the near future.

Market Share in Hip Replacement Implants

With many small and large industry players, the market is highly competitive. Zimmer Biomet Holdings, Inc., Stryker Corporation, Johnson & Johnson, MicroPort Scientific Corporation, Smith & Nephew plc, DJO Global, Inc., and MicroPort Scientific Corporation are some of the major players.

These players are involved in many strategic initiatives, including new product launches, technological advances, mergers and acquisitions to increase market share. Medacta International, for example, launched the MasterLoc Hip System in November 2016 to expand its range of hip implants products. Zimmer Biomet partnered with Apple to launch a mobile application for joint replacement in October 2018.

Market Report on Hip Replacement Implants

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional, or country level and offers an analysis of industry trends for each sub-segment from 2014 to 2026. Grand View Research has divided the global market for hip replacement implants on the basis product, region, application, end use, and country.

• Product Outlook (Revenue USD Million, 2014-2026)

  • Total Hip

  • Head of the partial femoral

  • Resurfacing the Hips

  • Revision Hip

• App Outlook (Revenue USD Million, 2014-2026)

  • Metal-on-Metal

  • Metal-on-Polyethylene

  • Ceramic-on-Polyethylene

  • Ceramic-on-Metal

  • Ceramic-on-Ceramic

• End-use Outlook (Revenue USD Million, 2014-2026)

  • Orthopedic Clinics

  • Hospitals & Surgery Centers

  • Other

• Regional Outlook (Revenue USD Million, 2014-2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

    • Saudi Arabia

These are the most frequently asked questions about this report

b. Global hip replacement implant market was valued at USD 5.56 billion in 2019, and is forecast to grow to USD 5.90 billion by 2020.

b. Global hip replacement implant market is expected to grow at 4.7% compound annual growth rate from 2019-2026, to reach USD 7.88 Billion by 2026.

b. With a 50.87% share in 2019, North America was the dominant market for hip replacement implants. This is attributable due to increase in demand for hip arthroplasty/replacement surgical procedures, and high prevalence of lower extremity conditions such as osteoarthritis and osteoporosis.

b. ConMed Corporation, Aesculap Implant Systems, LLC, DJO Global, Inc., B. Braun Melsungen AG, OMNIlife Science, Inc., Exactech, Inc., MicroPort Scientific Corporation, Smith & Nephew plc, Stryker Corporation, Johnson & Johnson, and Zimmer Biomet are some of the key players in the hip replacement implant market.

b. The market is driven by the availability of affordable healthcare in developed countries, technological advances in non-invasive surgery, growing numbers of people with degenerative diseases and increasing success rates for minimally invasive hip replacement surgeries.

Up Market Research published a new report titled “Hip Replacement Implants Market research report which is segmented by Product (Total Hip, Partial Femoral Head), by End Use (Orthopedic Clinics), By Players/Companies LLC; DJO Global, Inc; B Braun Melsungen AG; OMNIlife Science, Inc; MicroPort Scientific Corporation; Smith & Nephew plc; Stryker Corporation; Johnson & Johnson; and Zimmer Biomet, Inc; Exactech, ConMed Corporation; Aesculap Implant Systems”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Hip Replacement Implants Market Report Segments:

The market is segmented by Product (Total Hip, Partial Femoral Head), by End Use (Orthopedic Clinics).

Hip Replacement Implants Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Hip Replacement Implants Market

Overview of the regional outlook of the Hip Replacement Implants Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Hip Replacement Implants Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Hip Replacement Implants Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Total Hip

                2. Partial Femoral Head

                1. Orthopedic Clinics

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Hip Replacement Implants Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Hip Replacement Implants Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.