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Hip Replacement Market, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

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from $2,990 105 Pages Renub Research January, 2023 RNBR17626698
Best Price Guarantee
Price from $2,990
Length 105 Pages
Publisher Renub Research
Published Date January, 2023
SKU RNBR17626698

Hip Replacement Market, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

Global Hip Replacement Market will be around US$ 9 Billion by 2028 according to Renub Research. Hip replacement is a surgical procedure to replace the hip joint entirely or partially with an artificial joint, called a prosthesis. It is a general surgery that is needed when the mobility of the hip joint is reduced, either due to damage or the hip joint has worn out. In addition, osteoarthritis, rheumatoid arthritis, osteonecrosis, fractures, and bone tumours usually require hip replacement surgery. According to World Health Organization (WHO), about 130 million people will suffer from osteoarthritis globally, and the disease will leave 40 million people disabled, by 2050. In 2021, the number of people suffering from osteoarthritis globally was 528 million.

Global Hip Replacement Market will grow at a CAGR of 5.46% from 2023 to 2028

The increase in the geriatric population, increase in R&D activities for surgical procedures, product launch, and approval, growth in the number of patients undergoing hip replacement surgery, and increase in the government funds on healthcare, are some of the factors that aid the development of hip replacement market worldwide. However, high costs incurred on surgeries and R&D procedures, infrastructural limitations, and strict rules and regulations laid down by the government for new product approvals are expected to restrain the growth of the global hip replacement market.

Product Segment

Based on products, the global hip replacement market is segmented into; total hip replacement, partial hip replacement, and revision and hip resurfacing. Total hip replacement segments dominated the market share due to the growth in demand for minimally invasive surgeries and the technological advancements in the hip replacement market. Further, the rise in osteoarthritis cases will drive the segment's growth. The global hip replacement market was at US$ 6.54 Billion in 2022.

End-user Segment

The end-user segment is categorized into; hospitals and surgery centers, orthopedic clinics, and others. The hospitals and surgery category dominates in the end-user segment. The reason for this domination is the rise in hip replacement surgeries within these centers and facilities. In addition, they have the best available equipment and skilled health professionals, which also add to the segment's growth.

The orthopedic clinic category is expected to grow at a lucrative rate over the forecast period. The growth of this category can be attributed to the increase in the number of orthopedic clinics, the availability of skilled health personnel, and well-developed infrastructure.

Regional Insights

The report classifies the region into; North America, Europe, Asia-Pacific, Latin America, Middle-East, and Africa. The rise in the patients with arthritis and the government's favorable reimbursement policies are expected to aid the dominance of the North American region.

The Asia-Pacific region is anticipated to grow at an increasing rate over the forecast period. The region has a growing elderly population, which will increase the number of arthritis patients, and the government is actively providing funds for the healthcare sector. These factors will propel the growth of the market in the Asia-Pacific region.

Key Market Players

The global hip replacement market is very competitive and is filled with companies like; Smith & Nephew PLC, Johnson & Johnson, ConformisInc, Integra Lifesciences Corporation, MicroPort Scientific Corporation, Zimmer Biomet, Stryker, and Braun Melsungen AG. The players mentioned above are constantly involved in product innovation and development, technological betterment, and mergers and acquisitions to procure a higher market share. For instance, in August 2021, Zimmer Biomet announced that the company had been given the FDA 510k clearance of the ROSA Hip System for total hip replacement, which is robotically-assisted.

Renub Research report titled “Hip Replacement Market Global Forecast by Products (Total Hip Replacement, Partial Hip Replacement and Revision), End-user (hospitals and surgery centers, orthopaedic clinics, and others), Regions (North America, Europe, Asia-Pacific, Latin America, & Middle East & Africa), Companies (Smith & Nephew PLC, Johnson & Johnson, ConformisInc, Integra lifesciences Corporation, MicroPort Scientific Corporation, Zimmer Biomet, Stryker, Braun Melsungen AG) Global Analysis” studies the global Hip Replacement Industry.

Product – Hip Replacement Market breakup from 3 viewpoints:

1. Total HIP Replacement
2. Partial HIP Replacement
3. Revision HIP Replacement

End-User - Hip Replacement Market breakup from 3 End User:

1. Hospitals and surgery centers
2. Orthopedic clinics
3. Others

Region - Hip Replacement Market breakup from 5 Regions:

1. North America
2. Europe
3. Asia-Pacific
4. South America
5. Middle East & Africa

All key players have been covered from 3 viewpoints:

1. Overview
2. Strategy
3. Financial Insight

Company Analysis:

1. Zimmer Biomet
2. Stryker
3. Smith & Nephew PLC
4. Johnson & Johnson
5. ConformisInc
6. Integra lifesciencesCorporation
7. MicroPort Scientific Corporation
8. B. Braun Melsungen AG


1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenge
5. Global Hip Replacement Market
6. Market Share – Global Hip Replacement Analysis
6.1 By Product
6.2 By End User
6.3 By Region
7. Product – Global Hip Replacement Market
7.1 Total
7.2 Partial
7.3 Revision & Hip Resurfacing
8. End User – Global Hip Replacement Market
8.1 Hospital & Surgery Centres
8.2 Orthopaedic clinics
8.3 Others
9. Region – Global Hip Replacement Market
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Latin America
9.5 MEA
10. Key Players Analysis
10.1 Smith & Nephew PLC
10.1.1 Business Overview
10.1.2 Recent Development
10.1.3 Sales Analysis
10.2 Johnson & Johnson
10.2.1 Business Overview
10.2.2 Recent Development
10.2.3 Sales Analysis
10.3 ConformisInc
10.3.1 Business Overview
10.3.2 Recent Development
10.3.3 Sales Analysis
10.4 Integra lifesciences Corporation
10.4.1 Business Overview
10.4.2 Recent Development
10.4.3 Sales Analysis
10.5 Microport Scientific Corporation
10.5.1 Business Overview
10.5.2 Recent Development
10.5.3 Sales Analysis
10.6 Zimmer Biomet
10.6.1 Business Overview
10.6.2 Recent Development
10.6.3 Sales Analysis
10.7 Stryker
10.7.1 Business Overview
10.7.2 Recent Development
10.7.3 Sales Analysis
10.8 Braun Melsungen AG
10.8.1 Business Overview
10.8.2 Recent Development
10.8.3 Sales Analysis
List of Figures:
Figure-01: Global – Hip Replacement Market (Billion US$), 2018 – 2022
Figure-02: Global – Forecast for Hip Replacement Market (Billion US$), 2023 – 2028
Figure-03: Product – Total Hip Replacement Market (Billion US$), 2018 – 2022
Figure-04: Product – Forecast for Total Hip Replacement Market (Billion US$), 2023 – 2028
Figure-05: Product – Partial Hip Replacement Market (Billion US$), 2018 – 2022
Figure-06: Product – Forecast for Partial Hip Replacement Market (Billion US$), 2023 – 2028
Figure-07: Product – Revision & Hip Resurfacing Market (Billion US$), 2018 – 2022
Figure-08: Product – Forecast for Revision & Hip Resurfacing Market (Billion US$), 2023 – 2028
Figure-09: End User – Hospital & Surgery Centres Market (Billion US$), 2018 – 2022
Figure-10: End User – Forecast for Hospital & Surgery Centres Market (Billion US$), 2023 – 2028
Figure-11: End User – Orthopaedic clinics Market (Billion US$), 2018 – 2022
Figure-12: End User – Forecast for Orthopaedic clinics Market (Billion US$), 2023 – 2028
Figure-13: End User – Others Market (Billion US$), 2018 – 2022
Figure-14: End User – Forecast for Others Market (Billion US$), 2023 – 2028
Figure-15: North America – Hip Replacement Market (Billion US$), 2018 – 2022
Figure-16: North America – Forecast for Hip Replacement Market (Billion US$), 2023 – 2028
Figure-17: Europe – Hip Replacement Market (Billion US$), 2018 – 2022
Figure-18: Europe – Forecast for Hip Replacement Market (Billion US$), 2023 – 2028
Figure-19: Asia Pacific – Hip Replacement Market (Billion US$), 2018 – 2022
Figure-20: Asia Pacific – Forecast for Hip Replacement Market (Billion US$), 2023 – 2028
Figure-21: Latin America – Hip Replacement Market (Billion US$), 2018 – 2022
Figure-22: Latin America – Forecast for Hip Replacement Market (Billion US$), 2023 – 2028
Figure-23: MEA – Hip Replacement Market (Billion US$), 2018 – 2022
Figure-24: MEA – Forecast for Hip Replacement Market (Billion US$), 2023 – 2028
Figure-25: Smith & Nephew PLC – Global Revenue (Billion US$), 2018 – 2022
Figure-26: Smith & Nephew PLC – Forecast for Global Revenue (Billion US$), 2023 – 2028
Figure-27: Johnson & Johnson – Global Revenue (Billion US$), 2018 – 2022
Figure-28: Johnson & Johnson – Forecast for Global Revenue (Billion US$), 2023 – 2028
Figure-29: ConformisInc – Global Revenue (Million US$), 2018 – 2022
Figure-30: ConformisInc – Forecast for Global Revenue (Million US$), 2023 – 2028
Figure-31: Integra lifesciences Corporation – Global Revenue (Billion US$), 2018 – 2022
Figure-32: Integra lifesciences Corporation – Forecast for Global Revenue (Billion US$), 2023 – 2028
Figure-33: Microport Scientific Corporation – Global Revenue (Million US$), 2018 – 2022
Figure-34: Microport Scientific Corporation – Forecast for Global Revenue (Million US$), 2023 – 2028
Figure-35: Zimmer Biomet – Global Revenue (Billion US$), 2018 – 2022
Figure-36: Zimmer Biomet – Forecast for Global Revenue (Billion US$), 2023 – 2028
Figure-37: Stryker – Global Revenue (Billion US$), 2018 – 2022
Figure-38: Stryker – Forecast for Global Revenue (Billion US$), 2023 – 2028
Figure-39: Braun Melsungen AG – Global Revenue (Billion US$), 2018 – 2022
Figure-40: Braun Melsungen AG – Forecast for Global Revenue (Billion US$), 2023 – 2028
List of Tables:
Table-01: Global – Hip Replacement Market Share by Product (Percent), 2018 – 2022
Table-02: Global – Forecast for Hip Replacement Market Share by Product (Percent), 2023 – 2028
Table-03: Global – Hip Replacement Market Share by End User (Percent), 2018 – 2022
Table-04: Global – Forecast for Hip Replacement Market Share by End User (Percent), 2023 – 2028
Table-05: Global – Hip Replacement Market Share by Region (Percent), 2018 – 2022
Table-06: Global – Forecast for Hip Replacement Market Share by Region (Percent), 2023 – 2028

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