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  • Hip Replacement Implant Market Forecast | 2021-2026

    Hip Replacement Implant Market Forecast | 2021-2026

    Hip Replacement Implant Market Forecast | 2021-2026
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    Hip Replacement Implant Market Size, Share & Forecast Analysis: 2021-2026
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    Market Insights

    The hip replacement implant market is estimated to grow from USD 5.9 billion in 2020 to USD 7.9 billion by 2026 at a healthy CAGR of 5.2% during the forecast period.

    Hip Replacement Implant Market Size

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    What is Hip Replacement Implant?

    A hip replacement is known as a kind of surgery in which damaged or injured or hip joint is replaced with an artificial implant. It is used when the mobility is reduced, and the pain is witnessed even while resting. These are created by plastic, metal, or ceramic. Hip implants are medical devices which are developed to recover mobility and ease pain that is associated with arthritis and other hip diseases or injuries.

    Covid-19 Impact Analysis

    The COVID-19 pandemic has positively influenced the hip replacement implant industry. The rapid spread of COVID-19 has resulted in several thousands of hospital admissions. Amid the pandemic, the response varied across the globe in the timing & severity of public health measures performed to hold the disease spread.

    Hip Replacement Implant Market Features

    Market Size in 2026

    USD 7.9 billion

    Market Size in 2020

    USD 5.9 billion

    Market Growth (2021-2026)

    CAGR of 5.2%

    Base Year of Study

    2020

    Trend Period

    2016-2019

    Forecast Period

    2021-2026

    Segments Covered

    By Product (Total Hip, Partial Femoral Head, Hip Resurfacing, Revision Hip),

    By End-Use (Orthopedic Clinics, Hospitals & Surgery Centers, Others),

    By Region (North America, Europe, Asia Pacific, Middle East and Africa. Rest of the world).

    Dominant Region

    North America held the highest market share in 2020.

    Key Players

    Key players operating in the hip replacement implant market are-

    • Zimmer Biomet (US)
    • DePuy Synthes (US)
    • Stryker (US)
    • Smith and Nephew (UK)
    • B.Braun Melsungen AG (Germany)
    • Corin (US)
    • Waldemer Link GmbH & Co. KG (Germany)
    • Wright Medical Group N.V. (US)
    • Arthrex, Inc. (US)
    • Conformis (US)

    Market Dynamics

    The market is driven by a host of factors, some of which are noted below:

    • Technological developments have resulted in the development of customized hip replacement implants and risk-free surgeries.
    • Surgeon experience & implantation technique, device design features, and individual patient characteristics such as age, sex, weight, activity level.
    • Hip replacements enable millions of people retrieve mobility as well as find comfort from joint pain.

    Hip Replacement Implant Market Snapshot

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    Segment Analysis

    End-Use Trends

    The market has been classified into orthopedic clinics, hospitals & surgery centers, and others. The hospitals & surgery centers segment accounted for the largest market in 2020. 

    Growing number of hip implant companies within these facilities. These centers are equipped with the latest technologies as well as skilled healthcare professionals, thus bolsters the segment growth.

    Regional Analysis

    The North American market accounted the highest share in 2020 and is expected to grow at a robust CAGR during the review period. The market growth is mainly attributed to favorable healthcare infrastructure as well as the presence of key industry participants. Moreover, favorable reimbursement policies for patients are likely to increase the number of surgeries, thus augmenting the market growth.

    Hip Replacement Implant Market By Region

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    The Asia Pacific is expected to grow at the healthy CAGR during the review period due to increasing healthcare expenditure in emerging countries and rising elderly population, which have a strong risk of developing osteoporosis, osteoarthritis, bone injuries, and growing incidence of obesity, further bolsters the regional market growth.

    Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories. 

    By Product 

    • Total Hip

    • Partial Femoral Head

    • Hip Resurfacing

    • Revision Hip

    By End-Use 

    • Orthopedic Clinics

    • Hospitals & Surgery Centers

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and Rest of Asia-Pacific
    • Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others).

    Hip Replacement Implant Market Segmentation

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    Report Features

    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.

    Report – Features

    Market Segmentation

    2

    Regions Covered

    4

    Countries/Sub-Regions Covered

    16

    No. of Figures & Tables

    >140

    Company Profiles

    10

     

    The following are the key features of the report:

    • Overview, industry life cycle analysis, supply chain analysis.
    • Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Trend and forecast analysis.
    • Segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Target Audience

    The target audience of the market includes-

    • Hip Replacement Implant Vendors
    • Hip Replacement Implant Manufacturers
    • Hip Replacement Implant Distributors
    • Organizations
    • Government Bodies.

    Critical Questions Answered in the Report

    This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026.

    Following are the critical questions answered in the report.

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

    Research Methodology

    This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Customization Options

    Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

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

    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.

    Frequently Asked Questions (FAQs)

    A hip replacement is known as a kind of surgery in which damaged or injured or hip joint is replaced with an artificial implant. It is used when the mobility is reduced, and the pain is witnessed even while resting. These are created by plastic, metal, or ceramic. Hip implants are medical devices which are developed to recover mobility and ease pain that is associated with arthritis and other hip diseases or injuries.

    The market is estimated to grow from USD 5.9 billion in 2020 to USD 7.9 billion by 2026.

    The Market is estimated to grow at a healthy CAGR of 5.2% during the forecast period.

    The study period of this market report is 2016-2026.

    Key players operating in the Market are- Zimmer Biomet (US), DePuy Synthes (US), Stryker (US), Smith and Nephew (UK), B.Braun Melsungen AG (Germany), Corin (US), Waldemer Link GmbH & Co. KG (Germany), Wright Medical Group N.V. (US), Arthrex, Inc. (US), Conformis (US).

    The market is majorly propelled by technological developments have resulted in the development of customized hip replacement implants and risk-free surgeries. Also, surgeon experience & implantation technique, device design features, and individual patient characteristics such as age, sex, weight, activity level, and the overall health further boosts the market growth.

    The North American market accounted for the highest share in 2020 and is expected to grow at a robust CAGR during the review period.

    The target audience of the Market includes-Hip Replacement Implant Vendors, Hip Replacement Implant Manufacturers, Hip Replacement Implant Distributors, Organizations, Government Bodies.