What Has Been the Growth Trajectory for the Hip Replacement Market in Recent Years?
The hip replacement market has seen considerable growth due to a variety of factors.
•The market size for hip replacements has been experiencing continuous growth over the past few years. The market is forecasted to increase from $7.37 billion in 2024 to $7.73 billion in 2025, with a compound annual growth rate (CAGR) of 5.0%.
Such growth in the historical period can be traced back to demographic trends, a growing occurrence of osteoarthritis, rising consciousness and knowledge, reimbursement policies, and changes in lifestyle.
How Does the Forecast Look for the Hip Replacement Market?
The hip replacement market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of hip replacements is anticipated to significantly increase in the coming years, anticipated to reach "$9.81 billion by 2029 with a compound annual growth rate (CAGR) of 6.1%.
This predicted growth in the forecasted period is due to factors such as an aging population, widespread chronic conditions, improvements in global healthcare infrastructure, regulatory backing, and patient inclination towards minimally invasive procedures. Key trends during this forecast period are expected to be technological progress, an increasing aged population, growth in non-hospital procedures, individualized medicine, and utilization of 3D printing, along with a focus on value-based healthcare.
What Are the Critical Driver Fuelling the Hip Replacement Market's Growth?
The rise in cases of hip injuries is anticipated to boost the expansion of the hip replacement market in the forthcoming years. Hip injuries typically arise when a muscle that aids the hip joint is excessively stretched or harmed. Individuals suffering from arthritis, avascular necrosis, or various forms of the degraded hip joint may bear hip pain and firmness that could be alleviated with a hip replacement. For instance, as per the US-based government agency, the National Library of Medicine, in August 2024, the yearly occurrences are foreseen to range from 3 to 11 million by 2030, potentially climbing up to 5 to 21 million by 2050, based on diverse estimating suppositions. Therefore, the escalation in hip injury instances propels the advance of the hip replacement market in the upcoming period.
How Is the Hip Replacement Market segmented?
The hip replacement market covered in this report is segmented –
1) By Procedure: Total Hip Replacement, Partial Hip Replacement, Revision Hip Replacement, Hip Resurfacing
2) By Material: Metal-On-Metal, Metal-On-Polyethylene, Ceramic-On-Polyethylene, Ceramic-On-Metal, Ceramic-On-Ceramic
3) By End-User: Hospitals, Specialty Clinics, Ambulatory Surgery Centers
Subsegments:
1) By Total Hip Replacement: Cemented Total Hip Replacement, Cementless Total Hip Replacement
2) By Partial Hip Replacement: Hemiarthroplasty, Bipolar Hip Replacement
3) By Revision Hip Replacement: Acetabular Component Revision, Femoral Component Revision
4) By Hip Resurfacing: Metal-on-Metal Hip Resurfacing, Ceramic-on-Ceramic Hip Resurfacing
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What New Trends Are Influencing the Hip Replacement Market?
The hip replacement market is seeing a significant increase in technological innovations, a trend that is growing in popularity. Firms in this market are embracing new techniques to maintain their competitive edge. For instance, a US-based medical technology firm, Enovis, in July 2022, introduced an AR technology called ARVIS. This technology is intended to upgrade both total hip and knee replacement procedures. It offers surgeons superior information and a boosted surgical experience without the use of intrusive and unnecessary gear.
Who Are the Key Players in the Hip Replacement Market?
Major companies operating in the hip replacement market include:
• Johnson & Johnson
• Stryker Corporation
• Smith & Nephew PLC
• B. Braun Melsungen AG
• ConforMIS Inc.
• Exactech Inc
• MicroPort Scientific Corporation
• Zimmer Biomet Holdings Inc.
• Corin Group PLC
• Gruppo Bioimpianti S.R.L.
• Integra LifeSciences
• Medacta International
• Merete GmbH
• Microport Orthopedics Inc.
• DJO Global Inc.
• Waldemar Link GmbH & Co. KG
• Peter Brehm GmbH
• Synimed Synergie Ingénierie Médicale S.A.R.L.
• Elite Surgical Industries
• Corentec Co. Ltd.
• Arthrex Inc.
• Evolutis
• FH Ortho S.A.S
• In2Bones Global Inc.
What Is The Most Dominant Region In The Hip Replacement Market?
North America was the largest region in the hip replacement market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global hip replacement market report during the forecast period. The regions covered in the hip replacement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
