Hip Resurfacing Implants Market Growth Analysis

Market Insights

The Hip Resurfacing Implants Market is projected to grow from USD 6.9 billion in 2020 to USD 8.6 billion by 2026 at a CAGR of around 3.8% during the forecast period.

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What is hip resurfacing?

Hip resurfacing is known as a form of hip replacement surgery. It involves the use of implants to ease hip pain and stiffness caused by osteoarthritis and other conditions. The implants take the place of damaged tissue and bone, allowing for more fluid movement. Based on type, hip resurfacing implants can be categorized as a cemented total hip implant, cement-free total hip implant, partial femoral head implant, hip resurfacing, and revision hip implants.

Key Players

Key players operating in the Hip Resurfacing Implants market are-

• Zimmer Biomet (US)
• DePuy Synthes (US)
• Stryker Corporation (US)
• Smith & Nephew plc (UK)
• B. Braun (Germany)
• Corin (Switzerland)
• Waldemar Link GmbH & Co. KG (Germany)
• Wright Medical Group N.V. (Netherlands)
• Arthrex (US)
• Corentec (South Korea)
• Evolutis India Pvt. Ltd. (India)
• F H Orthopedics (US)
• Integra lifesciences (US)
• LimaCorporate (Italy)
• PETER BREHM GmbH (Germany)

Market Dynamics

The growth of the hip resurfacing implants market is primarily driven by an increasing number of people having osteoarthritis (OA), osteoporosis, and hip ailments. Expanding the geriatric populace across geographies and favorable reimbursement policies are expected to augment the market growth substantially. In addition to this, increasing investment in research and development activities to develop advanced hip resurfacing implants is likely to create lucrative opportunities for the players operating in the global hip resurfacing implants market in the coming years.

COVID-19 Impact

The covid-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the hip resurfacing implants market negatively as the hip implants or any other surgeries were postponed or declined due to fear of coronavirus infection. Also, supply chain disruptions due to the imposition of lockdown affected the product availability on time and thus, affected the market growth.

Segments' Analysis

End-User Trends

The hip resurfacing implants market has been bifurcated into orthopedic clinics, hospitals, and surgery centers. The hospital's segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment can be attributed to the presence of established healthcare infrastructure, the latest technology equipment, and skilled healthcare staff.

Regional Analysis

The North American market accounted for the largest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to the high adoption rate of advanced hip replacement implants coupled with the presence of key market players such as Zimmer Biomet (US) and DePuy Synthes (US). The market growth in Asia-Pacific is expected to be driven by increasing incidences of arthritis and obesity.

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Target Audience

Here is the list of the group of customers that the hip resurfacing implants market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

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Company Profiling

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Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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