ID: MRFR/HC/6976-HCR | February 2021 | Region: Global | 111 pages
Hip Implants Market is expected to hold a value of USD 9,300 Million by 2025 at a CAGR of 4.1%.
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
Hip Implants Market Restraints
Hip Implants Market Segmentation
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.
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 hip implants 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
Frequently Asked Questions (FAQ) :
hip implants market is projected grow at approximately 4.1% CAGR during the assessment period (2019-2025).
The valuation of the global hip implants market is estimated to increase to USD 9,300 MN by the end of 2025.
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.
This table of content is tentative and subject to change as the research progresses.
Please Note: Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.