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Hip Replacement Market, Global Forecast, Impact of Coronavirus, Industry Trends, Growth, Opportunity By Products, Regions, Company Analysis

  • ID: 5354545
  • Report
  • June 2021
  • Region: Global
  • Renub Research

FEATURED COMPANIES

  • B. Braun Melsungen AG
  • ConformisInc
  • Johnson & Johnson
  • Smith & Nephew PLC
  • Stryker
  • Zimmer Biomet
Hip replacement is a minimally invasive surgical procedure to replace a hip joint with a prosthetic implant. It is a general surgery that helps to minimize pain and rigidity in the hip joint. Each hip replacement system has different device design features such as material, shape, fixations materials. As per the World Health Organization (WHO), by 2050, nearly 130 million people will have arthritis, of which this disease will severely disable 40 Million people. Other factors, including rheumatoid arthritis, hip fracture, septic arthritis, and ankylosing spondylitis, have also helped this market grow. Thereafter, in the coming years, as per our estimate, the Global Hip Replacement Market will increase with the advent of robot-assisted surgical procedures across the world to reach US$ 7.48 Billion by 2027.



COVID-19 Impact on Hip Replacement Market

The ongoing COVID-19 pandemic is an unprecedented public health concern. This pandemic has adversely impacted the number of hip arthroplasty procedures. The high risk of COVID-19 infection involved during the surgical procedure and rising COVID-19 patient admissions in the hospitals are some of the prime factors resulting in decline of surgical procedures in the year 2020. According to the publisher, the Hip Replacement Market Size was US$ 4.73 Billion in 2020.

For instance, about 100,000 joint replacement surgeries were cancelled during the first wave of COVID-19 in early 2020s in the U.K. Although the industry is poised to behold significant growth due to the decreasing number of COVID-19 patients in some regions as standard operating protocols in healthcare facilities are being implemented. The government initiatives for rendering clinical emergency care to patients suffering from Osteoarthritis have sustained the revenue growth in the COVID era.

Growth Factors and Challenges of Hip Replacement Market Globally

The increasing prevalence of hip arthritis and osteoporosis and the growing geriatric population have promoted market progression. The cases of Osteoarthritis is increasing due to the ageing population so older adults have to be successfully treated with hip replacements. Hence, device manufacturers emphasize hip replacement design to mimic the natural movement of the body. The recent and ongoing technological advancements have also cured young teenagers with juvenile arthritis. Besides, increase in other related factors like obesity will also further propel the market growth.

Nevertheless, price pressure, risk of complications after surgery, and waiting time for surgery in hospitals are major hindering factors.

Product wise - All the Four Hip Replacement Techniques Market covered in the Report

Further, product-wise, the hip replacement market has segmented into total hip replacement, partial hip replacement, revision hip replacement and hip resurfacing. In Total Hip Replacement, the damaged hip is removed and replaced with prosthetic hip joint which is made up of ceramic, plastic or metal. One of the primary reasons for the growth of total hip replacement is Osteoarthritis. As per our research findings, Worldwide Hip Replacement Industry projected to grow at a CAGR of 6.77% within the forecast period of 2020-2027.

Region wise - European Region to gain Market Share

Our report also classifies the global hip replacement market geographically into five major regions: Europe, North America, Asia Pacific, South America, and Rest of the World. Furthermore, the surge in the abundance of hip replacement prostheses, rise in strategic collaborations among market vendors, and new product launches will help the European region to gain market share in the coming years. On the other hand, the market in the Asia Pacific expects to witness substantial growth in the projected duration on account of the increasing prevalence of hip osteoarthritis serving most of the geriatric population in the region.

Fixation - All three Types of Fixation Market Given in the Report

By fixation - Cemented, Cement less, and Hybrid, have been strongly adopted in hip implant through the years, usage trends differ across the globe. The surgeons across the world favour using cement less hip implants, as they believe press-fitted implants are more durable over the long term. The use of cement less fixation in hip arthroplasty reduces the total surgical time. This is desirable to doctors and healthcare facilities, as minimizing operating room time lessens overall procedure costs too.

Company Initiatives in Hip Replacement Industry

For instance, in July 2020 Smith+Nephew the global medical technology business, announced the launch of the RI.HIP NAVIGATION for total hip arthroplasty (THA). This new technology designed to help maximize accuracy and reproducibility by delivering patient-specific component alignment - a critical factor for surgeons when assessing individual THA cases. Such discoveries are likely to boost the market well in the coming years.

The report covers the competitive landscaping of companies operating in this market are Zimmer Biomet, Stryker, Smith & Nephew PLC, Johnson & Johnson, Conformis Inc., Integra life sciences Corporation, MicroPort Scientific Corporation and B. Braun Melsungen AG. These companies have fostered various strategies, such as mergers &acquisitions and partnerships, to accelerate growth in the global hip replacement market.

This report titled “Hip Replacement Market Global Forecast by Products (Total Hip Replacement, Partial Hip Replacement, Revision Hip Replacement and Hip Resurfacing), Regions (North America, Europe, Asia-Pacific, South America, & Rest of World), Fixation (Cemented, Cementless & Hybrid), Companies (Zimmer Biomet, Stryker, Smith & Nephew PLC, Johnson & Johnson, ConformisInc, Integra lifesciencesCorporatio, MicroPort Scientific Corporation, B. Braun Melsungen AG) Global Analysis” studies the global Hip Replacement Industry.

Product - Hip Replacement Market breakup from 4 viewpoints:

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

Region - Hip Replacement Market breakup from 5 Regions:

1. North America
2. Europe
3. Asia-Pacific
4. South America
5. Rest of World

Fixation -Hip Replacement Market breakup from 4 Regions:

1. Cemented
2. Cementless
3. Hybrid - Hip Replacement

All key players have been covered from 4 viewpoints:

1. Overview
2. Strategy
3. Merger / Acquisition
4. Financial Insight

Company Analysis:

1. Zimmer Biomet
2. Stryker
3. Smith & Nephew PLC
4. Johnson & Johnson
5. ConformisInc
6. Integra lifesciencesCorporatio
7. MicroPort Scientific Corporation
8. B. Braun Melsungen AG
Frequently Asked Questions about the Hip Replacement Market

What is the estimated value of the Hip Replacement Market?

The Hip Replacement Market was estimated to be valued at $4.7 Billion in 2020.

What is the growth rate of the Hip Replacement Market?

The growth rate of the Hip Replacement Market is 6.7%, with an estimated value of $7.5 Billion by 2027.

What is the forecasted size of the Hip Replacement Market?

The Hip Replacement Market is estimated to be worth $7.5 Billion by 2027.

Who are the key companies in the Hip Replacement Market?

Key companies in the Hip Replacement Market include Zimmer Biomet, Stryker, Smith & Nephew PLC, Johnson & Johnson, ConformisInc, Integra lifesciencesCorporatio and B. Braun Melsungen AG.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • B. Braun Melsungen AG
  • ConformisInc
  • Johnson & Johnson
  • Smith & Nephew PLC
  • Stryker
  • Zimmer Biomet

1. Introduction2. Research Methodology3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Hip Replacement Market
6. Market Share
6.1 By Product
6.2 By Region
6.3 By Fixation
7. Product - Global Hip Replacement Market
7.1 Total HIP Replacement
7.2 Partial HIP Replacement
7.3 Revision HIP Replacement
7.4 HIP Resurfacing
8. Region - Hip Replacement Market
8.1 North America
8.1.1 Total HIP
8.1.2 Partial HIP
8.1.3 Revision HIP
8.1.4 HIP Resurfacing
8.2 Europe
8.2.1 Total HIP
8.2.2 Partial HIP
8.2.3 Revision HIP
8.2.4 HIP Resurfacing
8.3 Asia-Pacific
8.3.1 Total HIP
8.3.2 Partial HIP
8.3.3 Revision HIP
8.3.4 HIP Resurfacing
8.4 South America
8.4.1 Total HIP
8.4.2 Partial HIP
8.4.3 Revision HIP
8.4.4 HIP Resurfacing
8.5 Middle East/Africa
8.5.1 Total HIP
8.5.2 Partial HIP
8.5.3 Revision HIP
8.5.4 HIP Resurfacing
9. Fixation - Global Hip Replacement Market
9.1 Cemented
9.2 Cementless
9.3 Hybrid
10. Company Analysis
10.1 Zimmer Biomet
10.1.1 Overview
10.1.2 Strategy
10.1.3 Merger / Acquisition
10.1.4 Financial Insight
10.2 Stryker
10.2.1 Overview
10.2.2 Strategy
10.2.3 Merger / Acquisition
10.2.4 Financial Insight
10.3 Smith & Nephew PLC
10.3.1 Overview
10.3.2 Strategy
10.3.3 Merger / Acquisition
10.3.4 Financial Insight
10.4 Johnson & Johnson
10.4.1 Overview
10.4.2 Strategy
10.4.3 Merger / Acquisition
10.4.4 Financial Insight
10.5 Conformis Inc
10.5.1 Overview
10.5.2 Strategy
10.5.3 Merger / Acquisition
10.5.4 Financial Insight
10.6 Integra Life Sciences Corporation
10.6.1 Overview
10.6.2 Strategy
10.6.3 Merger / Acquisition
10.6.4 Financial Insight
10.7 MicroPort Scientific Corporation
10.7.1 Overview
10.7.2 Strategy
10.7.3 Merger / Acquisition
10.7.4 Financial Insight
10.8 B. Braun Melsungen AG
10.8.1 Overview
10.8.2 Strategy
10.8.3 Merger / Acquisition
10.8.4 Financial Insight
List of Figures:
Figure-01: Global Hip Replacement Market (Billion US$), 2016 - 2020
Figure-02: Forecast for - Global Hip Replacement Market (Billion US$), 2021 - 2027
Figure-03: Product - Total HIP Replacement Market (Billion US$), 2016 - 2020
Figure-04: Product - Forecast for Total HIP Replacement Market (Billion US$), 2021 - 2027
Figure-05: Product - Partial HIP Replacement Market (Million US$), 2016 - 2020
Figure-06: Product - Forecast for Partial HIP Replacement Market (Million US$), 2021 - 2027
Figure-07: Product - Revision HIP Replacement Market (Million US$), 2016 - 2020
Figure-08: Product - Forecast for Revision HIP Replacement Market (Million US$), 2021 - 2027
Figure-09: Product - HIP Resurfacing Market (Million US$), 2016 - 2020
Figure-10: Product - Forecast for HIP Resurfacing Market (Million US$), 2021 - 2027
Figure-11: North America - HIP Replacement Market (Million US$), 2016 - 2020
Figure-12: North America - Forecast for HIP Replacement Market (Million US$), 2021 - 2027
Figure-13: North America - Total HIP Replacement Market (Million US$), 2016 - 2020
Figure-14: North America - Forecast for Total HIP Replacement Market (Million US$), 2021 - 2027
Figure-15: North America - Partial HIP Replacement Market (Million US$), 2016 - 2020
Figure-16: North America - Forecast for Partial HIP Replacement Market (Million US$), 2021 - 2027
Figure-17: North America - Revision HIP Replacement Market (Million US$), 2016 - 2020
Figure-18: North America - Forecast for Revision HIP Replacement Market (Million US$), 2021 - 2027
Figure-19: North America - HIP Resurfacing Market (Million US$), 2016 - 2020
Figure-20: North America - Forecast for HIP Resurfacing Market (Million US$), 2021 - 2027
Figure-21: Europe - HIP Replacement Market (Million US$), 2016 - 2020
Figure-22: Europe - Forecast for HIP Replacement Market (Million US$), 2021 - 2027
Figure-23: Europe - Total HIP Replacement Market (Million US$), 2016 - 2020
Figure-24: Europe - Forecast for Total HIP Replacement Market (Million US$), 2021 - 2027
Figure-25: Europe - Partial HIP Replacement Market (Million US$), 2016 - 2020
Figure-26: Europe - Forecast for Partial HIP Replacement Market (Million US$), 2021 - 2027
Figure-27: Europe - Revision HIP Replacement Market (Million US$), 2016 - 2020
Figure-28: Europe - Forecast for Revision HIP Replacement Market (Million US$), 2021 - 2027
Figure-29: Europe - HIP Resurfacing Market (Million US$), 2016 - 2020
Figure-30: Europe - Forecast for HIP Resurfacing Market (Million US$), 2021 - 2027
Figure-31: Asia-Pacific - HIP Replacement Market (Million US$), 2016 - 2020
Figure-32: Asia-Pacific - Forecast for HIP Replacement Market (Million US$), 2021 - 2027
Figure-33: Asia-Pacific - Total HIP Replacement Market (Million US$), 2016 - 2020
Figure-34: Asia-Pacific - Forecast for Total HIP Replacement Market (Million US$), 2021 - 2027
Figure-35: Asia-Pacific - Partial HIP Replacement Market (Million US$), 2016 - 2020
Figure-36: Asia-Pacific - Forecast for Partial HIP Replacement Market (Million US$), 2021 - 2027
Figure-37: Asia-Pacific - Revision HIP Replacement Market (Million US$), 2016 - 2020
Figure-38: Asia-Pacific - Forecast for Revision HIP Replacement Market (Million US$), 2021 - 2027
Figure-39: Asia-Pacific - HIP Resurfacing Market (Million US$), 2016 - 2020
Figure-40: Asia-Pacific - Forecast for HIP Resurfacing Market (Million US$), 2021 - 2027
Figure-41: South America - HIP Replacement Market (Million US$), 2016 - 2020
Figure-42: South America - Forecast for HIP Replacement Market (Million US$), 2021 - 2027
Figure-43: South America - Total HIP Replacement Market (Million US$), 2016 - 2020
Figure-44: South America - Forecast for Total HIP Replacement Market (Million US$), 2021 - 2027
Figure-45: South America - Partial HIP Replacement Market (Million US$), 2016 - 2020
Figure-46: South America - Forecast for Partial HIP Replacement Market (Million US$), 2021 - 2027
Figure-47: South America - Revision HIP Replacement Market (Million US$), 2016 - 2020
Figure-48: South America - Forecast for Revision HIP Replacement Market (Million US$), 2021 - 2027
Figure-49: South America - HIP Resurfacing Market (Million US$), 2016 - 2020
Figure-50: South America - Forecast for HIP Resurfacing Market (Million US$), 2021 - 2027
Figure-51: Middle East/Africa - HIP Replacement Market (Million US$), 2016 - 2020
Figure-52: Middle East/Africa - Forecast for HIP Replacement Market (Million US$), 2021 - 2027
Figure-53: Middle East/Africa - Total HIP Replacement Market (Million US$), 2016 - 2020
Figure-54: Middle East/Africa - Forecast for Total HIP Replacement Market (Million US$), 2021 - 2027
Figure-55: Middle East/Africa - Partial HIP Replacement Market (Million US$), 2016 - 2020
Figure-56: Middle East/Africa - Forecast for Partial HIP Replacement Market (Million US$), 2021 - 2027
Figure-57: Middle East/Africa - Revision HIP Replacement Market (Million US$), 2016 - 2020
Figure-58: Middle East/Africa - Forecast for Revision HIP Replacement Market (Million US$), 2021 - 2027
Figure-59: Middle East/Africa - HIP Resurfacing Market (Million US$), 2016 - 2020
Figure-60: Middle East/Africa - Forecast for HIP Resurfacing Market (Million US$), 2021 - 2027
Figure-61: Fixation - Cemented Hip Replacement Market (Million US$), 2016 - 2020
Figure-62: Fixation - Forecast for Cemented Hip Replacement Market (Million US$), 2021 - 2027
Figure-63: Fixation - Cementless Hip Replacement Market (Million US$), 2016 - 2020
Figure-64: Fixation - Forecast for Cementless Hip Replacement Market (Million US$), 2021 - 2027
Figure-65: Fixation - Hybrid - Hip Replacement Market (Million US$), 2016 - 2020
Figure-66: Fixation - Forecast for Hybrid - Hip Replacement Market (Million US$), 2021 - 2027
Figure-67: Zimmer Biomet - Global Revenue (Billion US$), 2016 - 2020
Figure-68: Zimmer Biomet - Forecast for Global Revenue (Billion US$), 2021 - 2027
Figure-69: Stryker - Global Revenue (Billion US$), 2016 - 2020
Figure-70: Stryker - Forecast for Global Revenue (Billion US$), 2021 - 2027
Figure-71: Smith & Nephew PLC - Global Revenue (Billion US$), 2016 - 2020
Figure-72: Smith & Nephew PLC - Forecast for Global Revenue (Billion US$), 2021 - 2027
Figure-73: Johnson & Johnson - Global Revenue (Billion US$), 2016 - 2020
Figure-74: Johnson & Johnson - Forecast for Global Revenue (Billion US$), 2021 - 2027
Figure-75: Conformis Inc. - Global Revenue (Million US$), 2016 - 2020
Figure-76: Conformis Inc. - Forecast for Global Revenue (Million US$), 2021 - 2027
Figure-77: Integra lifesciences Corporatio - Global Revenue (Million US$), 2016 - 2020
Figure-78: Integra lifesciences Corporatio - Forecast for Global Revenue (Million US$), 2021 - 2027
Figure-79: MicroPort Scientific Corporation - Global Revenue (Million US$), 2016 - 2020
Figure-80: MicroPort Scientific Corporation - Forecast for Global Revenue (Million US$), 2021 - 2027
Figure-81: B. Braun Melsungen AG - Global Revenue (Billion US$), 2016 - 2020
Figure-82: B. Braun Melsungen AG - Forecast for Global Revenue (Billion US$), 2021 - 2027
List of Tables:
Table-01: Global - Hip Replacement Market Share by Product (Percent), 2016 - 2020
Table-02: Global - Forecast for Hip Replacement Market Share by Product (Percent), 2021 - 2027
Table-03: Global - Hip Replacement Market Share by Region (Percent), 2016 - 2020
Table-04: Global - Forecast for Hip Replacement Market Share by Region (Percent), 2021 - 2027
Table-05: Global - Hip Replacement Cemented, Cementless, Hybrid Market Share by Countries (Percent), 2016 - 2020
Table-06: Global - Forecast for Hip Replacement Cemented, Cementless, Hybrid Market Share by Countries (Percent), 2021 - 2027
Table-07: Global - Total Hip Replacement Market Share by Region (Percent), 2016 - 2020
Table-08: Global - Forecast for Total Hip Replacement Market Share by Region (Percent), 2021 - 2027
Table-09: Global - Partial Hip Replacement Market Share by Region (Percent), 2016 - 2020
Table-10: Global - Forecast for Partial Hip Replacement Market Share by Region (Percent), 2021 - 2027
Table-11: Global - Revision Hip Replacement Market Share by Region (Percent), 2016 - 2020
Table-12: Global - Forecast for Revision Hip Replacement Market Share by Region (Percent), 2021 - 2027
Table-13: Global - HIP Resurfacing Market Share by Region (Percent), 2016 - 2020
Table-14: Global - Forecast for HIP Resurfacing Market Share by Region (Percent), 2021 - 2027
Note: Product cover images may vary from those shown
  • Zimmer Biomet
  • Stryker
  • Smith & Nephew PLC
  • Johnson & Johnson
  • ConformisInc
  • Integra lifesciencesCorporatio
  • MicroPort Scientific Corporation
  • B. Braun Melsungen AG
Note: Product cover images may vary from those shown

In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.

Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.

Primary Research

The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develop the analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth, and forecast

The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:

  • Chief executives and VPs of leading corporations specific to the industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
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Secondary Research

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