Hip Replacement Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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What Growth Opportunities are Expected to Drive the Hip Replacement Market’s CAGR Through 2034?
The market size for hip replacements has seen a consistent expansion over the recent years. This growth is expected to increase from a value of $7.37 billion in 2024 to $7.73 billion in 2025, implying a compound annual growth rate (CAGR) of 5.0%. The upswing during the historic period can be linked to demographic trends, an escalating occurrence of osteoarthritis, a rise in awareness and education, reimbursement protocols, and modifications in lifestyle.
The market size for hip replacements is anticipated to witness substantial expansion in the coming years. It is projected to reach “$9.81 billion by 2029, with a compound annual growth rate (CAGR) of 6.1%. The escalation during the forecasted period is a result of factors such as an increase in the aged population, prevalence of chronic diseases, enhancement of global healthcare infrastructure, regulatory backing, and patient inclination towards less invasive procedures. Key trends anticipated during this forecast period encompass evolutionary technologies, a surge in the elderly population, growing outpatient procedures, individualized treatments, 3D printing, and value-driven healthcare.
What Drivers Are Shaping the Growth of the hip replacement Market?
The rising occurrences of hip injuries are anticipated to boost the hip replacement market’s expansion in the future. These injuries are typically caused by overstretching or damage to one of the vital muscles supporting the hip joint. Individuals suffering from conditions such as arthritis, avascular necrosis, or other kinds of hip joint degradation might experience hip pain and stiffness, for which hip replacement could be a viable treatment. The National Library of Medicine, a US government agency, reported in August 2024 that the yearly occurrences could escalate to a range of 3 and 11 million by 2030. Furthermore, they might even surge to between 5 and 21 million by 2050, based on varied estimating assumptions. Consequently, the escalating occurrences of hip injuries are a significant catalyst for the growth of the hip replacement market.
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What Are the Leading Industry Players Dominating the Hip Replacement Market?
Major companies operating in the hip replacement market include:
• Johnson & Johnson_x000D_
• Stryker Corporation_x000D_
• Smith & Nephew PLC_x000D_
• B. Braun Melsungen AG_x000D_
• ConforMIS Inc._x000D_
What Are the Latest Trends Leading to Disruption in the Hip Replacement Market?
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What Major Market Segments Define the Scope and Growth of the Hip Replacement Market?
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
Which Regions Are Significant to the Growth of 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
How Can We Define the Hip Replacement Market and Its Key Components?
Hip replacement refers to a surgical procedure in which an orthopedic surgeon replaces the damaged hip joint elements with new, artificial ones after removing the sick ones. When a hip joint is damaged due to arthritis, avascular necrosis, or another condition, hip replacement can relieve hip pain and stiffness.
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