The global hip replacement implants market size reached USD 4.86 billion in 2023 and is projected to surpass around USD 6.01 billion by 2033, expanding at a CAGR of 2.14% from 2024 to 2033.
Key Points
- The North America hip replacement implants market size reached USD 2.28 billion in 2023 and is expected to attain around USD 2.85 billion by 2033, poised to grow at a CAGR of 2.25% between 2024 and 2033.
- North America dominated the hip replacement implants market with the largest revenue share of 47% in 2023.
- Asia Pacific is expected to grow at the highest CAGR in the market during the forecast period.
- By product type, the total hip segment has held the major revenue share of 38% in 2023.
- By product type, the hip resurfacing segment is expected to grow at the highest CAGR in the market during the forecast period.
- By material, the metal-on-polyethylene segment has contributed more than 31% of revenue share in 2023.
- By material, the ceramic-on-polyethylene segment is expected to grow at the highest CAGR in the market during the forecast period.
- By end-use, the hospitals & surgery centers segment has recorded the biggest revenue share of 70% in 2023.
- By end-use, the orthopedic clinics segment is expected to grow at the highest CAGR in the market during the forecast period.
The global market for hip replacement implants is driven by the increasing prevalence of joint disorders, particularly among the aging population worldwide. These implants play a critical role in orthopedic surgery, addressing conditions such as osteoarthritis and rheumatoid arthritis that severely impact joint function and quality of life. Hip replacement surgery involves the removal of damaged or diseased parts of the hip joint and replacing them with artificial implants made from materials like metals, ceramics, or their combinations. This procedure aims to alleviate pain, restore mobility, and improve overall joint function for patients.
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Growth Factors Driving the Hip Replacement Implants Market
Several key factors propel the growth of the hip replacement implants market. Firstly, the global demographic shift towards an aging population contributes significantly, as elderly individuals are more prone to degenerative joint diseases necessitating surgical intervention. Technological advancements in implant materials and designs also enhance the durability and performance of these devices, supporting better patient outcomes. Moreover, increasing healthcare expenditures, coupled with rising awareness about joint health, are fostering greater acceptance and uptake of hip replacement surgeries across both developed and emerging markets.
Region Insights into the Hip Replacement Implants Market
Regionally, North America holds a prominent position in the hip replacement implants market, driven by a high prevalence of joint disorders and robust healthcare infrastructure supporting advanced surgical techniques. Europe follows closely, characterized by an aging population and widespread adoption of minimally invasive surgical procedures. In Asia-Pacific, rapid market growth is observed, fueled by improving healthcare access, rising disposable incomes, and a growing elderly demographic in countries like China and India. Latin America, the Middle East, and Africa are emerging markets where increasing healthcare investments are expanding access to hip replacement surgeries.
Hip Replacement Implants Market Scope
| Report Coverage | Details |
| Market Size by 2033 | USD 6.01 Billion |
| Market Size in 2023 | USD 4.86 Billion |
| Market Size in 2024 | USD 4.96 Billion |
| Market Growth Rate from 2024 to 2033 | CAGR of 2.14% |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Product Type, Material, End-use, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Hip Replacement Implants Market Dynamics
Drivers
Technological innovations in implant materials, such as titanium alloys and ceramic composites, contribute significantly to market growth by improving implant longevity and reducing complications. The global rise in obesity rates is another driver, as excess weight contributes to joint degeneration, thereby increasing the demand for hip replacement surgeries. Additionally, the preference among patients for maintaining active lifestyles drives the need for reliable hip implants that facilitate mobility and endurance. Moreover, the shift towards minimally invasive surgery techniques is enhancing patient recovery times and reducing post-operative complications, thereby boosting market acceptance.
Opportunities
Emerging markets present significant opportunities for growth, driven by expanding healthcare infrastructures and increasing healthcare expenditures. Customized implants tailored to individual patient needs represent a growing trend in the market, offering potential avenues for innovation and market differentiation. Furthermore, advancements in joint preservation techniques may delay the need for invasive surgery, but also create opportunities for early intervention technologies that could revolutionize the management of joint disorders and expand the overall market size.
Challenges
High costs associated with hip replacement surgeries and implant devices pose a significant barrier, particularly in regions with limited healthcare resources or lower disposable incomes. Implant failure and the need for revision surgeries are ongoing challenges that impact patient outcomes and healthcare costs. Stringent regulatory requirements for new implant approvals can delay market entry and innovation, presenting hurdles for manufacturers seeking to introduce new products. Moreover, ethical concerns related to the long-term safety and environmental impact of implant materials and manufacturing processes necessitate continuous evaluation and scrutiny within the industry.
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Hip Replacement Implants Market Companies
- Zimmer Biomet
- Johnson & Johnson
- Stryker Corp.
- Smith & Nephew Plc
- MicroPort Scientific Corp.
- Exactech, Inc.
- OMNIlife Science, Inc.
- B. Braun Melsungen AG
- DJO Global, Inc.
- Aesculap Implant Systems, LLC
- ConMed Corp.
Recent Developments
- In February 2024, the Reverse Hip Replacement System (Reverse HRS), the company’s flagship product, will be on display at the 2024 American Academy of Orthopaedic Surgeons (AAOS) annual meeting, which will be held in San Francisco, California, from February 12–16.
- In August 2023, Smith+Nephew’s OR3O Dual Mobility System will be available in India for hip arthroplasty surgeries, including primary and revision. Unlike traditional techniques, dual mobility implants have a smaller-diameter femoral head that locks into a larger polyethylene insert, increasing stability, enhancing range of motion, and reducing the chance of dislocation.
- In January 2023, with the introduction of Mako, the world’s most widely utilized and FDA-approved robotic arm-aided technology, Gurgaon just reached a major milestone in the field of knee and hip replacement. The Mako SmartRoboticsTM System is now in use at W Pratiksha Hospital.
- In August 2022, GAINESVILLE, Fla.—Exactech, a developer and producer of state-of-the-art implants, equipment, and intelligent technologies for joint replacement surgery, announced the first successful surgeries employing the SpartanTM Stem and LogicalTM Cup System for total hip arthroplasty.
Segment Covered in the Report
By Product Type
- Total Hip
- Partial Femoral Head
- Hip Resurfacing
- Revision Hip
By Material
- Metal-on-metal
- Metal-on-polyethylene
- Ceramic-on-polyethylene
- Ceramic-on-metal
- Ceramic-on-ceramic
By End-use
- Hospitals & Surgery Centers
- Orthopedic Clinics
- Others
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
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