Hip Replacement Market Insights: In-Depth Look at Growth Trends, Market Size, and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theHip Replacement Market?
The uptick in occurrences of hip injuries is anticipated to expedite the expansion of the hip replacement market in the future. Hip injuries occur when the muscles supporting the hip joint are strained beyond their limit or harmed. Individuals suffering from arthritis, avascular necrosis, or other kinds of hip joint degradation might encounter hip pain and stiffness, which could necessitate a hip replacement. For example, the National Library of Medicine, a governmental agency based in the United States, reported in August 2024 that yearly incidences are predicted to reach between 3 and 11 million by 2030 and could potentially escalate to 5 to 21 million by 2050, subject to varied estimating assumptions. Hence, this increasing rate of hip injuries is fueling the growth trajectory of the hip replacement market for the foreseeable future.
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#What Growth Opportunities Will Drive the Hip Replacement Market’s CAGR Through 2034?
The size of the hip replacement market has shown consistent growth over recent years. It is expected to increase from $7.37 billion in 2024 to $7.73 billion in 2025, representing a compound annual growth rate (CAGR) of 5.0%. This growth during the historical period is a result of demographic trends, a rise in the occurrence of osteoarthritis, enhanced awareness and education, reimbursement policies, and lifestyle changes.
The market for hip replacements is predicted to experience significant expansion in the coming years, expected to reach a value of “$9.81 billion by 2029, with a compound annual growth rate (CAGR) of 6.1%. The anticipated growth during the forecast period is due to factors like the increase in the elderly population, high incidences of chronic illnesses, enhancements in the global healthcare infrastructure, support from regulatory bodies, and a patient inclination towards less invasive methods. The forecast period is also expected to see evolving trends such as technological advancements, increasing aging population, the growth in outpatient procedures, the adoption of personalized medicine and 3d printing, and a shift towards value-based healthcare.
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What Are the Current Market Growth and Trends in theHip Replacement Market That Industry Players Should Watch?
The growing trend of technological innovation is significantly influencing the hip replacement market. To maintain their market standing, companies in the hip replacement sector are integrating novel technologies. For example, in July 2022, Enovis, a medical technology company based in the US, introduced an AR technology called ARVIS. This new technology aims to enhance both total hip and knee replacement surgery by providing surgeons with more comprehensive information and an improved surgical experience, negating the need for cumbersome and non-essential equipment.
What Are the Major Market Players Making an Impact on theHip Replacement Market Growth?
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.
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How Are the Key Segments of the Hip Replacement Market Driving Opportunities and Innovations?
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 Regions Are At the Forefront of #How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theHip Replacement Market?# Market Expansion?
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
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