Hip Replacement Implants Market Size to Reach USD 9.39 Billion by 2031 | Straits Research
Hip Replacement Implants Market Forecast | USD 9.39 Billion by 2031 | Straits Research
The global hip replacement implants market was valued at USD 5.89 billion in 2022 and is projected to reach USD 9.39 billion by 2031, registering a CAGR of 5.32% during the forecast period (2023–2031). The growing aging population, advancements in medical technologies, and an increasing number of hip replacement surgeries are driving the market for hip replacement implants. The rise in lifestyle-related diseases, such as osteoarthritis, further contributes to the expansion of the market, as these conditions often lead to the need for hip replacements.
Market Definition: Hip replacement implants refer to the medical devices used to replace a damaged or worn-out hip joint. Hip replacement surgeries are typically performed to relieve pain, improve mobility, and restore the function of the hip in patients suffering from severe arthritis or hip fractures. The implants consist of a prosthetic ball and socket joint, and they are usually made from materials like metal, plastic, or ceramic. These implants are crucial in restoring a patient's quality of life by providing better movement and reducing pain.
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https://straitsresearch.com/report/hip-replacement-implants-market/request-sample.
Highlights of the Hip Replacement Implants Market:
Market Growth: The global hip replacement implants market is projected to reach USD 9.39 billion by 2031, growing at a CAGR of 5.32% from 2023 to 2031.
Rising Aging Population: An increasing elderly population worldwide is a significant driver of demand for hip replacement surgeries, contributing to market growth.
Technological Advancements in Implants: The introduction of advanced materials such as ceramic, enhanced biocompatibility, and improved designs is driving the adoption of hip replacement implants.
Increasing Prevalence of Osteoarthritis: A higher incidence of osteoarthritis, particularly in the aging population, is leading to a growing demand for hip replacement implants.
Growing Healthcare Access in Emerging Markets: Expanding healthcare access in developing regions like Asia-Pacific is fueling demand for hip replacement implants, offering new growth opportunities.
Key Players in the Hip Replacement Implants Market:
Zimmer Biomet
DePuy Synthes (Johnson & Johnson)
Stryker Corporation
Smith & Nephew
Medtronic
MicroPort Scientific Corporation
Wright Medical Group N.V.
Exactech, Inc.
B. Braun Melsungen AG
HealtheCare
Dominated Region: The Asia-Pacific region dominates the hip replacement implants market due to its large population base, increasing healthcare expenditure, and improving healthcare infrastructure. As the demand for hip replacement surgeries grows in countries like China and India, the region is poised for significant market share in the coming years.
Fastest Growing Region: The Europe region is the fastest-growing market for hip replacement implants. With a rapidly aging population and increasing access to advanced healthcare technologies, Europe is experiencing a surge in demand for hip replacement surgeries and implants.
Segmentation:
By Product Type
Total Hip Replacement Implants
Partial Hip Replacement Implants
Hip Resurfacing Implants
By Material Type
Metal-on-Metal
Metal-on-Polyethylene
Ceramic-on-Ceramic
Ceramic-on-Polyethylene
By End-User
Hospitals
Ambulatory Surgical Centers
Orthopedic Clinics
By Region
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Access Detailed Segmentation @
https://straitsresearch.com/report/hip-replacement-implants-market/segmentation
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https://straitsresearch.com/buy-now/hip-replacement-implants-market.
Contact Us:
Email: sales@straitsresearch.com
Phone: +1 646 905 0080 (US), +91 8087085354 (India), +44 203 695 0070 (UK)
Hip Replacement Implants Market Size to Reach USD 9.39 Billion by 2031 | Straits Research
Hip Replacement Implants Market Forecast | USD 9.39 Billion by 2031 | Straits Research
The global hip replacement implants market was valued at USD 5.89 billion in 2022 and is projected to reach USD 9.39 billion by 2031, registering a CAGR of 5.32% during the forecast period (2023–2031). The growing aging population, advancements in medical technologies, and an increasing number of hip replacement surgeries are driving the market for hip replacement implants. The rise in lifestyle-related diseases, such as osteoarthritis, further contributes to the expansion of the market, as these conditions often lead to the need for hip replacements.
Market Definition: Hip replacement implants refer to the medical devices used to replace a damaged or worn-out hip joint. Hip replacement surgeries are typically performed to relieve pain, improve mobility, and restore the function of the hip in patients suffering from severe arthritis or hip fractures. The implants consist of a prosthetic ball and socket joint, and they are usually made from materials like metal, plastic, or ceramic. These implants are crucial in restoring a patient's quality of life by providing better movement and reducing pain.
For a full PDF sample copy of the report, visit @ https://straitsresearch.com/report/hip-replacement-implants-market/request-sample.
Highlights of the Hip Replacement Implants Market:
Market Growth: The global hip replacement implants market is projected to reach USD 9.39 billion by 2031, growing at a CAGR of 5.32% from 2023 to 2031.
Rising Aging Population: An increasing elderly population worldwide is a significant driver of demand for hip replacement surgeries, contributing to market growth.
Technological Advancements in Implants: The introduction of advanced materials such as ceramic, enhanced biocompatibility, and improved designs is driving the adoption of hip replacement implants.
Increasing Prevalence of Osteoarthritis: A higher incidence of osteoarthritis, particularly in the aging population, is leading to a growing demand for hip replacement implants.
Growing Healthcare Access in Emerging Markets: Expanding healthcare access in developing regions like Asia-Pacific is fueling demand for hip replacement implants, offering new growth opportunities.
Key Players in the Hip Replacement Implants Market:
Zimmer Biomet
DePuy Synthes (Johnson & Johnson)
Stryker Corporation
Smith & Nephew
Medtronic
MicroPort Scientific Corporation
Wright Medical Group N.V.
Exactech, Inc.
B. Braun Melsungen AG
HealtheCare
Dominated Region: The Asia-Pacific region dominates the hip replacement implants market due to its large population base, increasing healthcare expenditure, and improving healthcare infrastructure. As the demand for hip replacement surgeries grows in countries like China and India, the region is poised for significant market share in the coming years.
Fastest Growing Region: The Europe region is the fastest-growing market for hip replacement implants. With a rapidly aging population and increasing access to advanced healthcare technologies, Europe is experiencing a surge in demand for hip replacement surgeries and implants.
Segmentation:
By Product Type
Total Hip Replacement Implants
Partial Hip Replacement Implants
Hip Resurfacing Implants
By Material Type
Metal-on-Metal
Metal-on-Polyethylene
Ceramic-on-Ceramic
Ceramic-on-Polyethylene
By End-User
Hospitals
Ambulatory Surgical Centers
Orthopedic Clinics
By Region
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Access Detailed Segmentation @ https://straitsresearch.com/report/hip-replacement-implants-market/segmentation
For more information or customization before purchasing, visit @ https://straitsresearch.com/buy-now/hip-replacement-implants-market.
Contact Us:
Email: sales@straitsresearch.com
Phone: +1 646 905 0080 (US), +91 8087085354 (India), +44 203 695 0070 (UK)