Hip Resurfacing Implants Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Hip resurfacing, a surgical technique designed to restore worn-out hip joints rather than replacing them entirely, is facing a period of slow growth, according to a recent report by the publisher. The technique involves the smoothing and re-lining of the femoral head with a metal covering, resulting in a larger hip ball and a reduced risk of dislocation. Hip resurfacing aims to improve the quality of life for patients by preserving natural bone while replacing damaged bone and cartilage.

Market Focus on Geographic Expansion and Innovative Products

Leading companies in the hip resurfacing market are concentrating on geographic expansion and the development of innovative products tailored to customer needs in an effort to gain a larger market share. Manufacturers are also dedicated to creating new resurfacing implants through minimally invasive procedures.

Sluggish Growth Expected in Global Market

The global hip resurfacing implants market is anticipated to experience gradual growth during the forecast period from 2024 to 2031. By the end of 2031, it is expected to reach a higher valuation compared to its 2023 value. Challenges such as implant recalls and increasing failure rates have had a dampening effect on revenue growth in the current market environment.

Cobalt Chromium Alloys and Hybrid Alloys Preferred Materials

The choice of material is a critical factor in hip resurfacing implants, and according to research analysis, both hybrid alloy and cobalt chromium alloy materials are extensively used in this field. The hybrid alloy and cobalt chromium alloy segments are expected to grow at the same pace in the coming years, with significant adoption observed in recent times compared to the tin-coated segment.

The hybrid alloy segment is projected to dominate the market by the end of the assessment period. Meanwhile, the cobalt chromium alloy segment is expected to attain a market valuation of around US$60 million, making it the second-largest region in terms of value.

In terms of volume, the hybrid alloy segment is set to register a volume CAGR of during the assessment period. The cobalt chromium alloy segment is expected to exhibit the highest growth rate in volume by the end of the assessment year and a high volume CAGR throughout the period.

Market Segmentation

By Material Type

• Cobalt Chromium Alloy
• Tin Coated
• Hybrid Alloy (Cobalt + Titanium)

By End User

• Hospitals
• Ambulatory Surgical Center
• Orthopedic Clinics

By Region

• North America
• Latin America
• Europe
• Asia Pacific (APAC)
• Middle East and Africa (MEA)

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