Hip Implants Market Research Report - Global Forecast till 2030

Hip Implants Market Research Report: By Product (Total Hip Replacement Implants, Fixed-Bearing Hip Implants, Mobile-Bearing Total Hip Implants, Partial Hip Replacement Implants, Hip Resurfacing Implants, Revision Hip Replacement Implants), By Material (Metal-on-Polyethylene, Ceramic-on-Metal, Metal-on-Metal, Ceramic-on-Polyethylene, Ceramic-on-Ceramic) and By End-User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, Others) – Forecast to 2030

ID: MRFR/HC/6976-HCR | 111 Pages | Published By Rahul Gotadki on March 2023         

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Hip Implants Market

Hip Implants Market Size is expected to hold a value of USD 11,500 Million by 2030 at a CAGR of 3.54%.

Segmentation
By Product Total Hip Replacement Implants Fixed-Bearing Hip Implants Mobile-Bearing Total Hip Implants Partial Hip Replacement Implants Hip Resurfacing Implants Revision Hip Replacement Implants
By Material Metal-on-Polyethylene Ceramic-on-Metal Metal-on-Metal Ceramic-on-Polyethylene Ceramic-on-Ceramic
By End-User Hospitals Orthopedic Clinics Ambulatory Surgical Centers Others
Key Players
Companies Profiled   Zimmer Biomet Holdings Inc. (US)   Stryker Corporation (UK)   Smith & Nephew PLC (UK)   MicroPort Scientific Corporation (China)   Exactech Inc. (US)   OMNILife science Inc. (US)   Braun Melsungen AG (Germany)   DJO Global Inc. (US)   Aesculap Implant Systems LLC (US)   Corin (UK)
Drivers
Market Driving Forces   Increasing demand for hip replacement surgeries   Introduction of custom-made implants   Growing geriatric population
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Hip Implants Market Outlook


Hip Implants Market is expected to hold a value of USD 11,500 Million by 2030 at a CAGR of 3.54% during the forecast period (2022-2030). Hip implants are medical devices used to relieve pain and restore mobility in patients suffering from hip-related problems. They usually associated with arthritis and other hip diseases or injuries. Increasing hip replacement surgeries is the primary factor attributed to the growth of the market.


Hip Implants Market Influencer


Technological advancements and product launches by key players in the market are likely to act as a promising factor for the growth of the market in the near future.


Hip Implants Market Drivers



  • Growing prevalence of hip-related disorders. For instance, as per a survey, nearly 130 million people are expected to incur osteoarthritis worldwide by 2050, of whom 40 million are likely to be severely disabled by it.

  • Increasing mergers & acquisitions by prominent players in the market. For instance, In September 2019, DePuy Synthes acquired assets of JointPoint, Inc. to enhance reproducibility in hip replacement and surgical accuracy.

  • Increasing demand for hip replacement surgeries

  • Introduction of custom-made implants

  • Growing geriatric population

  • Rise in incidence of accidental injuries


Hip Implants Market Restraints



  • Stringent government regulations on all-metal hip implants

  • Increasing recalls of hip implants


Hip Implants Market Segmentation


By Product



  • Total Hip Replacement Implants: Expected to hold the largest share, owing to the increasing geriatric population and increasing prevalence of hip-related disorders. For instance, according to a survey, in the period between 2015 to 2050, the world's population of people over 60 years will double from 12% to 22%. As the aging population rises, age-related degenerative diseases such as osteoarthritis and rheumatoid arthritis also increase. With the increase in these diseases, the demand for hip replacement surgeries also grows for which hip implants are used.

  • Fixed-Bearing Hip Implants: This segment accounts the least share of the market as the shell of the implant is fixed, which limits the motion.

  • Mobile-Bearing Total Hip Implants: Mobile-bearing total hip implants are developed as an alternative to fixed-bearing implants because of their advantages related to wear and range of motion.

  • Partial Hip Replacement Implants: This segment is expected to be the fastest-growing segment, owing to the rise in the incidence of accidental injuries. As per the survey, a total of 2,643,098 accidents occurred in Germany in 2017.

  • Hip Resurfacing Implants: In hip resurfacing, instead of removing the femoral head, it is trimmed and capped with a smooth metal covering.

  • Revision Hip Replacement Implants: Hip replacement implants can wear out for various reasons and may need to be replaced with the help of the revision of hip replacement surgery.


Hip Implants Market By Material



  • Metal-on-Polyethylene: This is expected to be the largest segment, owing to the increasing demand for polymer as it does not lead to side-effects associated with conventional devices.

  • Ceramic-on-Metal: This is expected to be the fastest-growing segment owing to slow deterioration and friction than all-metal hip implants.

  • Metal-on-Metal: These devices are expected to last longer than other hip implants. 

  • Ceramic-on-Polyethylene: This segment is likely to account for a significant share due to certain benefits such as wettability, firmness, and inertness of the alumina ceramic material.

  • Ceramic-on-Ceramic: Ceramic-on-ceramic implants have been widely used in total hip replacement surgeries as it has the well-wearing capacity and low inflammatory reaction.


Hip Implants Market By End-User



  • Hospitals: The largest segment, hospitals are usually the first place for the diagnosis and treatment of patients. A higher number of surgical procedures in the hospitals are projected to drive the growth of this segment during the forecast period.

  • Orthopedic Clinics: This is expected to be the fastest-growing segment owing to the presence of a well-developed infrastructure and availability of skilled surgeons.

  • Ambulatory Surgical Centers: Ambulatory care is provided in settings such as ambulatory surgical centers, dialysis clinics, hospital outpatient departments, and other health professionals.

  • Others: This segment includes research organizations and academic institutions.


Hip Implants Market Regional Analysis



  • Americas: The largest regional Hip Implants Market. In countries such as the US and Canada, the growing prevalence of hip-related disorders and the presence of top players such as Zimmer Biomet Holdings, Inc., Exactech, Inc., OMNILife science, Inc., DJO Global, Inc., is contributing to the growth of the market in this region. For example, as per a survey in 2019, in the US, it has been estimated that 80% of the population over 65 years suffer from radiographic evidence of osteoarthritis (OA), and 60% of this subset has symptoms of osteoarthritis. Additionally, according to another survey in 2018, it was estimated that 30 million people in the US were affected by osteoarthritis.

  • Europe: The rapid innovation in technology, coupled with high research & development (R&D) expenditure in the field of hip replacement surgery, is expected to boost the growth of the hip implants market in the European region.

  • Asia-Pacific: Asia-Pacific is anticipated to be the fastest-growing region in the global hip implants market. The region is witnessing an increase in the geriatric population. For example, according to a survey, by 2050, one in four people in the region will be over 60 years. The people of older persons in the region is expected to triple between 2010 and 2050 and will reach approximately 1.3 billion people. The prevalence of osteoarthritis and joint-related disorders are high among the geriatric population. Hence, the demands for hip implant surgeries increased in this region.

  • Middle East & Africa: The smallest market due to limited healthcare infrastructure and limited exposure to technological advancements.


Hip Implants Market Top Key Players



  • Zimmer Biomet Holdings, Inc. (US)

  • Stryker Corporation (UK)

  • Smith & Nephew PLC (UK)

  • MicroPort Scientific Corporation (China)

  • Exactech, Inc. (US)

  • OMNILife science, Inc. (US)

  • Braun Melsungen AG (Germany)

  • DJO Global, Inc. (US)

  • Aesculap Implant Systems, LLC (US)

  • Corin (UK)



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Frequently Asked Questions (FAQ) :

hip implants market is projected grow at approximately 3.54% CAGR during the assessment period (2020-2030).

The valuation of the global hip implants market is estimated to increase to USD 11,500 MN by the end of 2030.

Increasing demand for hip replacement surgeries, introduction of custom-made implants, and rise in incidence of accidental injuries are the major tailwinds pushing the growth of the global hip implants market.

North America holds the largest share in the global hip implants market, followed by Europe and the Asia Pacific, respectively.

DJO Global, Inc. (US), Corin (UK), OMNILife science, Inc. (US), Stryker Corporation (UK), MicroPort Scientific Corporation (China), Zimmer Biomet Holdings, Inc. (US), Exactech, Inc. (US), Smith & Nephew PLC (UK), Aesculap Implant Systems, LLC (US), and B. Braun Melsungen AG (Germany), are some of the major players operating in the global hip implants market.