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How has the hip replacement market size evolved in recent years?
The dimension of the hip replacement market has shown consistent growth in the past few years. It is projected to surge from $7.37 billion in 2024 to $7.73 billion in 2025, with a compound annual growth rate (CAGR) of 5.0%. The expansion during the previous period can be accredited to factors such as demographics, escalating occurrences of osteoarthritis, heightened consciousness and schooling, modifications in lifestyle, and reimbursement policies.
What are the predictions for the hip replacement market size in the coming years?
The market size for hip replacements anticipates robust expansion in the coming years. It is projected to escalate to “$9.81 billion by 2029 at a compound annual growth rate (CAGR) of 6.1%. This projected advancement for the forecast period could be due to factors like an aging population, the prevalence of chronic diseases, improvements in global healthcare infrastructure, regulatory backing, and patient inclination towards minimally invasive procedures. Noteworthy trends during the forecast period encompass technological progress, an increasing aged population, a surge in outpatient procedures, personalized medicine and 3d printing, along with value-driven healthcare.
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What key factors are fueling the growth of the hip replacement market?
An upsurge in hip injury cases is predicted to drive the expansion of the hip replacement market in the future. Such injuries occur when a muscle that supports the hip joint is either overstretched or damaged. Persons suffering from conditions like arthritis, avascular necrosis, or different types of hip joint deterioration often deal with hip pain and stiffness, which can be remedied through hip replacement. For example, the National Library of Medicine, a government agency in the United States, reported in August 2024 that annual cases are expected to range from 3 million to 11 million by 2030, and could even rise to 5 to 21 million by 2050, based on various estimation assumptions. Hence, the escalation in cases of hip injuries is fuelling the expansion of the hip replacement market in the future.
How is the global hip replacement market divided into key segments?
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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Who are the key firms paving the way for growth 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.
Which trends are expected to transform the hip replacement market?
Progress in technology is an emerging trend gaining traction in the hip replacement market. Firms working in the hip replacement market are leveraging new tech innovations to maintain their market standing. As an illustration, Enovis, a medical tech company from the US, introduced an AR technology referred to as ARVIS in July 2022 to enhance the procedure of hip and knee replacement surgeries. This technology equips surgeons with improved information and a superior surgical experience without resorting to obstructive and superfluous equipment.
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What regions are contributing significantly 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
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