Global Hip Replacement Implants Market to Reach $18.7 Billion by 2030
The global market for Hip Replacement Implants estimated at US$14.6 Billion in the year 2023, is expected to reach US$18.7 Billion by 2030, growing at a CAGR of 3.5% over the analysis period 2023-2030. Total Hip Replacement Implant, one of the segments analyzed in the report, is expected to record a 4% CAGR and reach US$8.6 Billion by the end of the analysis period. Growth in the Partial Hip Replacement Implant segment is estimated at 3.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4 Billion, While China is Forecast to Grow at 6% CAGR
The Hip Replacement Implants market in the U.S. is estimated at US$4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.8 Billion by the year 2030 trailing a CAGR of 6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.9% and 2.9% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.4 Billion by the year 2030.
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