Market Overview:
The global hip replacement devices market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing incidence of arthritis, rising geriatric population, and technological advancements in hip replacement devices. The global hip replacement devices market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into primary HIP replacement, partial HIP replacement, revision HIP replacement and HIP resurfacing. The primary Hip Replacement (PHR) segment dominates the global hip replacement devices market owing to its high adoption rates for treating early-stage arthritis patients. However, with technological advancements such as ceramic-on-ceramic bearings and metal-on-metal bearings being introduced in PHRs; this segment is expected to witness moderate growth during the forecast period from 2018 to 2030.
Product Definition:
Hip Replacement Devices are medical devices that are used to replace a hip joint. They can be made from metal, plastic, or ceramic materials. Hip Replacement Devices are important because they can help improve the quality of life for people who have hip joint problems.
Primary HIP Replacement:
Primary hip replacement is a surgery to replace the damaged hip joint. The primary HIP (hip arthroplasty) is used in case of total hip replacement failure or when there's no satisfactory alternative solution for the patient. It's an advanced surgical procedure that involves removing part of the bone and cemented ball from the femur, followed by re-attaching it with a metal acetabulum cup and then putting new hardware such as stem onto it.
Partial HIP Replacement:
Partial hip replacement is a minimally invasive surgical procedure used to repair damaged hips. The partial hip replacement surgery involves the removal of part of the damaged bone and then replaced with an artificial implant. This surgery is most commonly used in older people who have become weak and whose walking capabilities have reduced due to degenerative joint disease or osteoarthritis.
Application Insights:
The hospitals segment dominated the market in 2017 and accounted for more than 60.0% share of the global revenue. The hospital-based settings are preferred for hip replacement surgery as it provides a safe setting for patients with complications associated with major surgeries. In addition, hospitals have a team of highly skilled healthcare professionals who are capable of handling emergencies that may occur during surgery such as blood clots in the lungs or heart attack due to too much pressure on the chest wall.
Hospitals also offer better postoperative care and monitoring facilities, which include an intensive care unit (ICU) bed if required, along with other amenities such as round-the-clock staff assistance and medical equipment necessary after surgery is complete.
Regional Analysis:
North America dominated the global market in 2017 owing to a rise in the number of total hip replacement surgeries and growing geriatric population. According to the American Academy of Orthopedic Surgeons (AAOS), there was a 33% increase in total hip replacement procedures from 2011 to 2015. Moreover, increasing healthcare expenditure, favorable reimbursement policies, and high patient awareness levels are some factors driving regional growth.
Asia Pacific is expected to witness lucrative growth over the forecast period due to rising disposable income leading towards an improvement in quality of life after surgery coupled with government initiatives for improving healthcare infrastructure especially hospitals & primary care centers. In addition, increasing medical tourism due to lower treatment costs is also anticipated fuel demand during the forecast period (2018-2030).
Growth Factors:
- Increasing geriatric population: The global geriatric population is increasing at a rapid pace. This is expected to drive the demand for hip replacement devices as these devices help improve the quality of life of elderly patients.
- Rising incidence of arthritis: Arthritis is one of the leading causes of hip replacement surgeries. The rising incidence of arthritis is thus expected to fuel the growth of the hip replacement devices market in the coming years.
- Technological advancements: The development and commercialization of new and innovative technologies in hip replacement surgery are likely to boost market growth over the forecast period. For instance, 3D printing technology has been used for custom-made implants, which has helped reduce implant failure rates and surgical timeframes significantly.
Scope Of The Report
Report Attributes
Report Details
Report Title
Hip Replacement Devices Market Research Report
By Type
Primary HIP Replacement, Partial HIP Replacement, Revision HIP Replacement, HIP Resurfacing
By Application
Hospitals, Ambulatory Surgical Centers
By Companies
Zimmer, DePuy Synthes, Stryker, Smith & Nephew, B. Braun, Corin, Waldemar LINK, Zimmer
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
143
Number of Tables & Figures
101
Customization Available
Yes, the report can be customized as per your need.
Global Hip Replacement Devices Market Report Segments:
The global Hip Replacement Devices market is segmented on the basis of:
Types
Primary HIP Replacement, Partial HIP Replacement, Revision HIP Replacement, HIP Resurfacing
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals, Ambulatory Surgical Centers
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Zimmer
- DePuy Synthes
- Stryker
- Smith & Nephew
- B. Braun
- Corin
- Waldemar LINK
- Zimmer
Highlights of The Hip Replacement Devices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Primary HIP Replacement
- Partial HIP Replacement
- Revision HIP Replacement
- HIP Resurfacing
- By Application:
- Hospitals
- Ambulatory Surgical Centers
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hip Replacement Devices 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 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Hip replacement devices are medical implants that replace the ball and socket joint in a person's hip. The devices help people who have arthritis or other conditions that make it difficult to move their hips.
Some of the major companies in the hip replacement devices market are Zimmer, DePuy Synthes, Stryker, Smith & Nephew, B. Braun, Corin, Waldemar LINK, Zimmer.
The hip replacement devices market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hip Replacement Devices Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Hip Replacement Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hip Replacement Devices Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Hip Replacement Devices Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Hip Replacement Devices Market Size & Forecast, 2018-2028
4.5.1 Hip Replacement Devices Market Size and Y-o-Y Growth
4.5.2 Hip Replacement Devices Market Absolute $ Opportunity
Chapter 5 Global Hip Replacement Devices Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Hip Replacement Devices Market Size Forecast by Type
5.2.1 Primary HIP Replacement
5.2.2 Partial HIP Replacement
5.2.3 Revision HIP Replacement
5.2.4 HIP Resurfacing
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Hip Replacement Devices Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Hip Replacement Devices Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Ambulatory Surgical Centers
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hip Replacement Devices Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Hip Replacement Devices Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Hip Replacement Devices Analysis and Forecast
9.1 Introduction
9.2 North America Hip Replacement Devices Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Hip Replacement Devices Market Size Forecast by Type
9.6.1 Primary HIP Replacement
9.6.2 Partial HIP Replacement
9.6.3 Revision HIP Replacement
9.6.4 HIP Resurfacing
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Hip Replacement Devices Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Ambulatory Surgical Centers
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Hip Replacement Devices Analysis and Forecast
10.1 Introduction
10.2 Europe Hip Replacement Devices Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Hip Replacement Devices Market Size Forecast by Type
10.6.1 Primary HIP Replacement
10.6.2 Partial HIP Replacement
10.6.3 Revision HIP Replacement
10.6.4 HIP Resurfacing
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Hip Replacement Devices Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Ambulatory Surgical Centers
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Hip Replacement Devices Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Hip Replacement Devices Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Hip Replacement Devices Market Size Forecast by Type
11.6.1 Primary HIP Replacement
11.6.2 Partial HIP Replacement
11.6.3 Revision HIP Replacement
11.6.4 HIP Resurfacing
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Hip Replacement Devices Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Ambulatory Surgical Centers
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Hip Replacement Devices Analysis and Forecast
12.1 Introduction
12.2 Latin America Hip Replacement Devices Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Hip Replacement Devices Market Size Forecast by Type
12.6.1 Primary HIP Replacement
12.6.2 Partial HIP Replacement
12.6.3 Revision HIP Replacement
12.6.4 HIP Resurfacing
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Hip Replacement Devices Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Ambulatory Surgical Centers
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Hip Replacement Devices Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Hip Replacement Devices Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Hip Replacement Devices Market Size Forecast by Type
13.6.1 Primary HIP Replacement
13.6.2 Partial HIP Replacement
13.6.3 Revision HIP Replacement
13.6.4 HIP Resurfacing
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Hip Replacement Devices Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Ambulatory Surgical Centers
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Hip Replacement Devices Market: Competitive Dashboard
14.2 Global Hip Replacement Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Zimmer
14.3.2 DePuy Synthes
14.3.3 Stryker
14.3.4 Smith & Nephew
14.3.5 B. Braun
14.3.6 Corin
14.3.7 Waldemar LINK
14.3.8 Zimmer
