Hip Replacement Market Overall Study 2021-2028 | Depuy Synthes (Johnson & Johnson), Microport Scientific Corporation

Comprehensive Study of the Hip Replacement Market 2021-2028

The global hip replacement market was valued at US$ 4,179.1 Mn in 2021 and is expected to reach US$ 6,112.4 Mn by 2028 at a CAGR of 4.9% during the forecast period.

Hip Replacement is a surgical operation in which the old hip joint is replaced with a prosthetic hip joint, which is a hip joint implant. Hip replacement surgery may be performed as either a partial replacement or a total hip replacement. The name “hip replacement” is used to collectively describe the operations that replace the hip and the condition of hip fractures that may have occurred in the patient. Considering the geographical impact, North America seems to be gaining promising traction in the hip replacement market. This is due to the fact that there is the presence of key industry players as well as favorable healthcare infrastructure. Besides, a rising number of sports-related injuries could aid the regional market growth. On the contrary, Asia Pacific is exhibiting lucrative signs for the adoption of hip replacement surgeries and devices due to rising geriatric population in the region.

Key participants for business development are Depuy Synthes (Johnson & Johnson), Microport Scientific Corporation, Zimmer Biomet, Exactech Inc., DJO Global Inc., Stryker Corporation, B. Braun Melsungen, and Smith & Nephew.

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Hip replacement surgeries and devices are typically required in bone injuries and bone-related diseases, which include osteoarthritis, osteoporosis, and more. As per the Centers for Disease Control and Prevention (CDC), in 2015, around 54.4 million adults in the U.S. suffered from osteoarthritis, which is expected to increase to 78 million by 2040. Such high prevalence of osteoarthritis has increased the demand for relevant surgeries and medical devices. Hence, these factors can potentially stimulate growth of the hip replacement market.

Recently, in July 2020, Smith+Nephew, a U.K.-based medical technology company, launched RI.HIP NAVIGATION for total hip arthroplasty (THA).

Hip replacements are frequently performed for both cosmetic and functional reasons. Hip replacements are typically recommended for patients who are approaching the age of 50 years, although they are also frequently performed on younger individuals who experience an aggravation of the hip-related problems that developed over time, after the age of fifty. Regardless of its high demand, certain aspects of the market can potentially prove to be an impediment.

Reasons to Purchase this Report

Current and future of global Hip Replacement market outlook in the developed and emerging markets

The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.

Regions/countries that are expected to witness the fastest growth rates during the forecast period

The latest developments, market shares, and strategies that are employed by the major market players

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Years Considered to Estimate the Hip Replacement Market Size:

History Year: 2016-2020
Base Year: 2020
Forecast Year: 2021-2028

Important Features and Key Highlights of the Market:-

• Detailed overview of market application and advantages.
• Understand the technologies support, Solution, Services. Understand the evaluation of dynamic growth.
• The in-depth market information of competitors, revenue, and cost structure.
• Strategies of key players, the competitive landscape.
• Historical data, current trend, and market volume and value.
• Industry restrains drivers and opportunities.
• product Development and offerings Key insights.
• Potential Application covers extensive analysis of emerging trends

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