The global hip replacement market is anticipated to grow at a moderate CAGR of 3.9% during the forecast period (2024-2031). The rising prevalence of osteoarthritis (OA) has driven the demand for hip replacement surgeries. Therefore, the key manufacturers of hip replacement devices are focusing on the development of advanced & improved medical devices for these procedures; which in turn drives the growth of the global hip replacement market.
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For instance, in August 2023, Smith+Nephew plc launched the OR3O Dual Mobility System for use in primary and revision hip arthroplasty in India. Compared with traditional solutions, dual mobility implants have a small diameter femoral head that locks into a larger polyethylene insert - increasing stability, reducing dislocation risk, and offering improved range of motion. OXINIUM DH (Diffusion Hardened) is a unique variation of Smith+Nephew's OXINIUM Technology platform that increases the depth of hardening through an additive manufacturing process.
Further, in August 2022, Exactech, a developer and producer of implants, instrumentation, and smart technologies for joint replacement surgery announced the successful first surgeries of the Spartan Stem and Logical Cup System for total hip arthroplasty. The Logical Cup, an advanced, modular acetabular system, is engineered to meet the demands of highly active patients while also enabling an efficient surgical workflow in hospitals and ambulatory surgical centers.
Furthermore, establishing hip surgery divisions in hospitals indicates an increasing demand for hip replacement procedures. For instance, in June 2023, the Asian Orthopedic Institute (AOI), SIMS Hospital launched a comprehensive hip surgery unit and four new advanced technology services. In this, the institute launched Chicago hip preservation service, the NAVISWISS system, custom docking augment technology, and a hip resurfacing system.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Product Type
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- include SurgTech Inc., Corin Group, Smith & Nephew Plc, Zimmer Biomet Holdings Inc., and Stryker Corp. among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Hip Replacement Market Report Segment
By Product Type
- Total Hip Replacement
- Partial Hip Replacement
- Hip Resurfacing
By End-User
- Hospitals
- Specialized Orthopedic Clinics
- Ambulatory Surgical Centers
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Hip Replacement Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
· AAP Implantate AG
· Aesculap, Inc. (B. Braun Co.)
· Allegra Orthopaedics Ltd.
· Alphatec Spine, Inc.
· B.Braun
· Conmed Corp.
· DJO, LLC
· Enovis
· Exactech, Inc.
· Integra LifeSciences Corp.
· Limacorporate S.p.A
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