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Hip Replacement Market Trends

Report ID: GMI4979
Published Date: Mar 2023
Report Format: PDF

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Hip Replacement Market Trends

Rising technological developments across the world will stimulate the market expansion. Recent innovations in surgical technique and instrumentation enables the surgeons to perform hip replacement procedures through smaller incision on the skin. This facilitates quicker recovery and faster rehabilitation. Furthermore, recently developed Hana Table, a unique patient positioning tool facilitates early recovery for hip replacement patients. This table aids secure the patient during surgery, makes exposure of the hip joint easier, and enables proper implant positioning. Similarly, the advent of custom implants has been beneficial for healthcare providers as well as patients. Custom implants are tailored as per patient requirements and provide better fitting, broader ranges of movement and higher satisfaction. Industry players are emphasizing on research and development activities to offer advanced products with better effectiveness.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for hip replacement exceeded USD 7 billion in 2022 and is expected to grow significantly at 3.5% CAGR through 2032 driven by the rising prevalence of hip arthritis and osteoporosis worldwide.

Partial hip replacement segment is estimated to be worth more than USD 1 billion due to the product’s characteristics such as cost-effective treatment and faster implant time as compared to total hip replacement surgery.

Europe hip replacement market is expected to exceed USD 2 billion by 2032, owing to increased hospitalization rates resulting from the high prevalence of arthritis and osteoporosis, along with supportive healthcare policies throughout the area.

The industry consists of prominent industry participants such as Stryker Corporation, Depuy Synthes (Johnson & Johnson), Microport Orthopedics, ConforMIS Inc., Kyocera Corporation, Exatech Inc., DJO Global, Waldemar Link, Corin Group and more.