Hip Replacement Market Size (2022-2030) Share, Industry Trends, Growth, Challenges and Forecast: Growth Plus Reports

NEW YORK, Sept. 7, 2022 /PRNewswire/ -- According to the latest report published by Growth Plus Reports, the global hip replacement market is expected to clock US$ 10.84 billion by 2030 and to grow at a CAGR of 5.5% during the forecast period. Owing to, the increased prevalence of degenerative diseases and advancements in treatment procedures. This exclusive information is published by Growth Plus Reports in its report titled "Hip Replacement Market – Global Outlook & Forecast 2022-2030"

Growth Drivers

The rise in the geriatric population worldwide, issues of overweight and obesity leading to the development of osteoarthritis in young adults, increased road traffic accidents, and hip injuries are some of the major factors driving the global hip replacement market. An increase in the quality of hip arthroplasty procedures is raising the demand for advanced hip replacement devices. Moreover, technological advancements in surgical procedures with the best patient performance and fewer post-op complications also drive the hip replacement market growth.

The global hip replacement market has been analyzed from three different perspectives – procedure, end-user, and region.

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Excerpts from 'Competitive Landscape'

Some of the prominent players operating in the global hip replacement market are:

• B. Braun Melsungen AG
• Stryker Corporation
• Zimmer Biomet
• Smith & Nephew plc
• MicroPort Scientific Corporation
• Exactech Inc
• ConforMIS Inc
• Gruppo Bioimpianti Srl
• DePuy Synthes
• Corin Group
• Among others

Excerpts from 'By Procedure Segmentation'

The global hip replacement market has been segmented majorly into three distinct categories:

• Total Replacement
• Partial Replacement
• Hip Revision & Resurfacing

It has been observed that the total hip replacement segment dominates the hip global replacement market revenue share. This is because of the increasing prevalence of total hip replacement procedures in young adults suffering from degenerative diseases and the increased demand for active living in the senior population. Despite, this the less invasive feature of partial hip replacement and postoperative complications in total hip replacement surgery, are expected to push ahead the partial hip replacement segment ahead in the market during the forecast period.

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Excerpts from 'By End User Segmentation'

The global hip replacement market has been segmented into:

• Orthopedic Centers
• Hospitals
• Ambulatory Surgery Centers

The hospital segment dominates the hip replacement market. The preference of patients for hospitals is influenced by the widespread use of advanced hip replacement devices that offer better results. Hospitals observe an increase in demand for hip reconstruction devices because of rising hospital admissions for a variety of hip illnesses and the availability of qualified healthcare professionals. In addition, hospitals offer efficient rehabilitation treatments, devise exercise programs to help patients recover from surgery, and work closely with patients. The orthopedic centers segment is expected to grow significantly in the forecast period because of the highly skilled orthopedic surgeons and increased number of outpatient procedures.

Excerpts from 'By Region Segmentation'

The global hip replacement market has been segmented into:

• North America
• Europe
• Asia Pacific
• Rest of the World

The European region stood second in the hip replacement market revenue share. This is contributed by the key players continuously making efforts to launch advanced products in the market to simplify complex surgical procedures. The market's growing focus on adopting hip replacement implants for improved patient performance and increased R&D investments are also responsible for this regional market expansion.

Table of Content

1.  INTRODUCTION

1. Market Ecosystem 
2. Timeline Under Consideration
1. Historical Years – 2020
2. Base Year – 2021
3. Forecasted Years – 2022 to 2031
3. Currency Used in the Report

2.  RESEARCH METHODOLOGY 

1. Research Approach
2. Data Collection Methodology
3. Data Sources
1. Secondary Sources 
2. Primary Sources 
4. Market Estimation Approach
1. Bottom Up 
2. Top Down 
5. Market Forecasting Model
6. Limitations and Assumptions 

3.  PREMIUM INSIGHTS

1. Current Market Trends (COVID-19 Perspective)
2. Key Players & Competitive Positioning (2021) 

4.  MARKET DYNAMICS

1. Drivers
2. Restraints/Challenges
3. Opportunities

5.  GLOBAL HIP REPLACEMENT MARKET - ANALYSIS & FORECAST, BY PROCEDURE

1. Total Replacement
2. Partial Replacement
3. Hip Revision & Resurfacing
4. Others

6.  GLOBAL HIP REPLACEMENT MARKET - ANALYSIS & FORECAST, BY END USER

1. Orthopedic Centers
2. Hospitals 
3. Ambulatory Surgery Centers 
4. Others 

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