Hip Resurfacing Implants Market Report

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.

Figure: Hip Resurfacing Implants Market Size, 2020-2026 (USD Billion)

Wish to get a free sample? Register Here

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.

Segments' Analysis

End-User Trends

By end-user, 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 Trends

By region, 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.

COVID-19 Impact on Hip Resurfacing Implants Market

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. 

Critical Questions Answered in the Report

• What are the key trends in the Hip Resurfacing Implants market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the Hip Resurfacing Implants market?
• What are the key strategies adopted by the major vendors to lead in the Hip Resurfacing Implants market?
• What is the market share of the top vendors?

Get the full scope of the report. Register Here

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-

• Hip resurfacing implants distributors
• Hip resurfacing implants suppliers
• Hip resurfacing implants manufacturers
• Logistics organizations
• Government bodies

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.