The global hip replacement implants market held US$ 7,202.5 Mn in 2017 and expected to grow at compound annual growth rate (CAGR) of 3.6% during the forecast period from 2018 to 2026. The global hip replacement implants market is driven by growing volume of hip arthroplasty worldwide, development of dynamic implants with better compatibility and lower risk of infection, growing geriatric population susceptible for hip injuries and ailments. Alarming rise in the prevalence of osteoarthritis globally will augment the growth of hip replacement implants. According to Arthritis Foundation report of 2017, approximately 54.4 million adults is the U.S. had doctor-diagnosed arthritis, out of which 23.7 million had activity limitation due to the disease. The report also suggests that the number of doctor-diagnosed arthritis will increase 49 percent to 78.4 million by 2040 and close to 34.6 million patients will suffer for activity limitation due to arthritis. According to America Joint Replacement Registry (AJRR), in 2016, osteoarthritis was the most common reason for hip arthroplasty accounting for 70% of the overall cases in United States. Many studies suggest that hip replacement reduced pain, improved quality of life and overall healthcare resources utilization. Growing geriatric population is also driving the market for hip replacement implants. A study projects that more that 50% of total hip arthroplasty will be performed in patients younger than 70 by 2030. Technological advancement such as quality of material, enhancement in the life of the implant and overall patient outcome will continue to drive the market for hip replacement implants globally. For instance, Conformis, Inc. developed first 3D printed primary hip replacement system and successfully carried out its first surgery in U.S. in July 2018.

"Femoral Reconstruction Implants Held the Largest Share"

In 2017, femoral reconstruction implants held the largest share in the global hip replacement implants market owing to large number of products available in the market. Though, femoral and acetabular reconstruction products are equally used in any hip replacement surgeries, the cost of the femoral reconstruction products are higher as compared to acetabular implants. Product innovation and growing number of hip arthroplasty globally are driving the market. Bearing and porous technologies will exhibit significant growth during the forecast period.

The key players currently engaged in hip replacement implants market include Zimmer Biomet Holdings, DePuy Synthes, Inc., Stryker Corporation, MicroPort Scientific Corporation, B. Braun Melsungen AG, Smith & Nephew Plc, DJO Global, Exactech, Inc. and Corin Orthopedics Holdings Ltd among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Hip Replacement Implants market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Hip Replacement Implants market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Hip Replacement Implants market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Hip Replacement Implants market?
• Which is the largest regional market for Hip Replacement Implants market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Hip Replacement Implants market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Hip Replacement Implants market worldwide?