Hip Replacement Implants Global Market 2024 To Reach $10.97 Billion By 2028 At Rate Of 7.7%

Hip Replacement Implants Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 27, 2024 /EINPresswire.com/ -- The hip replacement implants market has experienced robust growth in recent years, expanding from $7.58 billion in 2023 to $8.16 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to aging population and osteoarthritis prevalence, rise in hip fractures and trauma cases, patient preference for enhanced mobility, global increase in obesity rates, rise in sports injuries impacting hips.

What Is The Estimated Market Size Of The Global Hip Replacement Implants Market And Its Annual Growth Rate?
The hip replacement implants market is projected to continue its strong growth, reaching $10.97 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to growing demand for outpatient hip replacements, innovations in implant materials, global efforts in arthritis awareness, regulatory support for innovation, environmental sustainability in healthcare.

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Growth Driver Of The Hip Replacement Implants Market
The increase in the prevalence of arthritis is expected to propel the growth of the hip replacement implant market going forward. Arthritis refers to swelling and tenderness of one or more joints, which leads to severe pain in bones and joints. Osteoarthritis and rheumatoid arthritis are common types of arthritis. Hip replacement implants are commonly used in hip replacement surgeries, or hip arthroplasty, in the treatment of arthritis to address hip pain and restore it’s functioning, in which surgeons replace damaged or non-functioning parts of the hip joint with artificial implants.

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Which Market Players Are Driving The Hip Replacement Implants Market Growth?
Key players in the tem market include Zimmer Biomet Holdings Inc., DePuy Synthes, Stryker Corporation, Smith & Nephew PLC, B Braun SE, Corin Group PLC., Waldemar Link GmbH & Co KG, Wright Medical Group NV, Arthrex Inc., Corentec Co Ltd., MicroPort Scientific Corporation, Exactech Inc., DJO Global Inc., OMNI life science Inc., Integra LifeSciences Holdings Corporation, Medacta International SA, PETER BREHM GmbH, Gruppo Bioimpianti srl., Globus Medical Inc., Enovis Medical, Kyocera Corporation, Merete GmbH, Ortho Development Corporation, Shanghai MicroPort Orthopedics Inc., FH Orthopedics Inc., LimaCorporate SPA, Mathys AG Bettlach, ConforMIS Inc., AK Medical Holdings Limited, Beijing Chunlizhengda Medical Instruments Co. Ltd..

What Are the Key Trends That Influence The Hip Replacement Implants Market Size?
Major companies operating in the hip replacement implant market are developing innovative products, such as the Dual Mobility System, to gain a competitive advantage and increase revenues. The Dual Mobility System is a hip arthroplasty implant featuring the innovative OXINIUM DH bearing surface to enhance stability, reduce dislocation risk, and improve range of motion while eliminating wear and corrosion concerns associated with traditional hip implants.

How Is The Global Hip Replacement Implants Market Segmented?
1) By Product Type: Femoral Reconstruction, Acetabular Reconstruction, Hip Resurfacing, Revision Hip Implants, Bearing And Porous Metal, Total Replacement Implants
2) By Component: Ace Tabular Cup Systems, Hip Stem Systems, Revision Accessories And Components
3) By Material: Metal-On-Metal, Metal-On-Polyethylene, Ceramic-On-Metal, Ceramic-On-Polyethylene, Ceramic-On-Ceramic
4) By End-User: Orthopedic Clinics, Hospitals, Surgical Centers

Geographical Insights: North America Leading The Hip Replacement Implants Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market during the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Hip Replacement Implants Market Definition
Hip replacement implants are medical devices that are used to imitate the movements and anatomy of the hip to regain mobility and relieve pain typically linked to hip disorders or injuries such as arthritis.

Hip Replacement Implants Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global hip replacement implants market report covering trends, opportunities, strategies, and more
The Hip Replacement Implants Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on hip replacement implants market size, hip replacement implants market drivers and trends, hip replacement implants market major players and hip replacement implants market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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