Hip Replacement Market By Product Type (Total Hip Replacement, Partial Hip Replacement, Hip Resurfacing); By Material (Metal-on-Polyethylene, Ceramic-on-Polyethylene, Ceramic-on-Ceramic, Metal-on-Metal); End-User (Hospitals, Orthopaedic Clinics, Ambulatory Surgical Centres, Others), By Geography, Segment revenue estimations, Forecast: 2021-2030

Industry Report and Statistics (Facts & Figures) - Sales Volume, ASP & Number of Procedure Conducted by Product & End-User

The hip replacement market is a significant part of the global medical device industry, with substantial growth expected in the coming years. Hip replacement surgery is a standard procedure for treating patients with hip joint damage, such as arthritis or hip fractures. The market for hip replacements worldwide was estimated at $7.1 billion in 2022 and grow till $10.65 billion till 2030 will witness a CAGR of 5.2% between 2022 and 2030.

The hip replacement market refers to producing, distributing, and selling hip replacement devices, equipment, and related services. The hip replacement market includes a range of products and services, such as hip replacement implants, surgical instruments, and post-operative rehabilitation programs. Various factors drive the market, such as the increasing prevalence of hip joint disorders, the growing ageing population, and advancements in medical technology. 

Companies compete in the market based on product quality, innovation, and pricing. Overall, the hip replacement market is an important segment of the medical device industry, providing crucial support for patients suffering from hip joint damage and contributing to improving patient health and quality of life.

 

 

Key Drivers:

Rising hip joint disorders:

Hip joint disorders, including osteoarthritis, are indeed becoming increasingly common globally. Based on a research article in The Lancet stated that the global prevalence of hip osteoarthritis increased by 64% from 1990, from 213 million to 349 million cases. The study also found that hip osteoarthritis was the 11th-highest contributor to global disability, affecting people of all ages. Several factors contribute to the rising prevalence of hip joint disorders. One of the primary factors is the ageing population. Osteoarthritis, which is more prevalent in older individuals, is one common hip issue more likely to occur as people live longer. According to the World Health Organization, the proportion of people who are 60 and older will double by 2050, from 12% to 22%, increasing the burden of hip joint issues.

 

Obesity and sedentary lifestyles play a crucial role in the increased incidence of hip joint problems. Osteoarthritis is more likely to affect sedentary people and overweight or obese people. Research in the American Journal of Epidemiology found that obesity raises men's and women's risks of hip osteoarthritis by 4.7 times and 2.7 times, respectively.

The increasing prevalence of hip joint disorders has increased the demand for hip replacement surgeries and devices. This trend will continue in the coming years, leading to a growing demand for hip replacement surgeries and devices.

 

Advancements in medical technology:

Technological advancements have greatly improved the outcomes of hip replacement surgeries. The introduction of less invasive procedures has sped up surgical outcomes and shortened patient recovery periods. In accordance with a study reported in the Journal of Bone and Joint Surgery, someone who had minimally invasive hip replacement surgery had less discomfort along with shorter stays in the hospital for a lesser period than those who had traditional hip replacement surgery.

 

Advanced hip replacement implants, such ceramic implants, have demonstrated the ability to lower the risk of implant deterioration, resulting in a longer lifespan for the implant. Robotics has also shown promising results in hip replacement surgery. A study published in the journal Orthopaedics found that patients who underwent robotic-assisted hip replacement surgery had less blood loss and a shorter hospital stay compared to those who underwent traditional hip replacement surgery.

 

Additionally, the development of patient-specific implants has also improved the outcomes of hip replacement surgery. Patients who received patient-specific implants had a decreased chance of implant dislocation and a better range of motion than those who had standard implants, based on the research in the Journal of Arthroplasty. These technological advancements have contributed to improving patient recovery times, reducing pain, and improving implant stability, resulting in better long-term outcomes for patients.

 

Favourable government policies:

Due to government regulations and reimbursement programs, the market for hip replacements has increased dramatically. The support of governments worldwide has encouraged the use of hip replacement surgeries and devices.

 

For instance, in the US, Medicare provides coverage for hip replacement surgeries, which has increased the demand for the procedure. Based on the American Joint Replacement Registry, there has been a sharp rise in hip replacement operations in the US, with Medicare covering more than half of all hip replacement operations during this time.

 

Bundled payment schemes have also been developed by the CMS to lower healthcare costs while maintaining or raising the quality of treatment. These bundled payment systems have led to the use of more cost-effective approaches in hip replacement surgeries, which has resulted in increased demand for hip replacement devices and surgical techniques that offer better value for money.

 

Along with the US, favourable government policies have caused the hip replacement market in various other countries to grow. The UK's demand for the procedure has increased due to the National Institute for Health and Care Excellence (NICE) recommending hip replacement surgery as a therapeutic option for osteoarthritis. 

Additionally, the Australian government offers financial assistance for hip replacements, which has increased the number of operations carried out there. More hip replacement surgeries have been performed in India due to the government's different initiatives to promote joint replacement, including hip replacement.

 

Aging Population:

The ageing population primarily drives the hip replacement market. As people age, their bodies undergo several changes that raise the risk of hip joint conditions, including osteoarthritis. By 2050, the World Health Organization (WHO) projects that there will be 2 billion individuals aged 60 or older worldwide. With this increase in the ageing population, there is a growing demand for hip replacement surgeries and devices. In accordance with the publication of The Journal of Bone and Joint Surgery, hip replacement surgeries in the US are anticipated to increase to 635,000 yearly by 2030. The study also projected that the demand for hip replacement surgeries would continue to increase as the ageing population grows.

 

In addition to the US, other countries are also experiencing an increase in the ageing population, driving the demand for hip replacement surgeries and devices. For instance, the Office for National Statistics (ONS) in the UK anticipates a 40% increase in adults who are 65 and older by 2024. This increase in the ageing population has contributed to the rise in the number of hip replacement surgeries performed in the country. Similarly, in India, the ageing population is projected to increase to 158 million by 2025, according to a report. This increase in the ageing population has led to a rise in the country's number of hip replacement surgeries.

 

As the ageing population grows globally, the demand for hip replacement surgeries and devices is expected to increase. Due to this, cutting-edge surgical methods and hip replacement technologies have been created, improving patient outcomes. For instance, 3D printing technology has led to the development of customized hip implants that fit patients' anatomy, resulting in improved outcomes and fewer complications. In conclusion, the ageing population is a significant driver of the hip replacement market. As the population ages, hip replacement procedures and equipment demand will increase.

 

Restraints:

High Cost:

One of the significant challenges facing the hip replacement market is the high cost of the procedure and devices. According to a Healthcare Cost and Utilization Project report, the average cost of hip replacement surgery in the US was $40,000 in 2022. The cost of the procedure can vary depending on the hospital, surgeon, and type of implant used. In addition, the cost of post-operative care, such as rehabilitation and physical therapy, can add to the overall cost of the procedure.

The high cost of hip replacement surgeries and devices can limit access for patients who cannot afford them, particularly in developing countries with limited healthcare infrastructure. In India, for example, the cost of a hip replacement surgery can range from $3,000 to $7,000, according to a report by the Medical Tourism Association. While this may seem less expensive compared to the US, it is still costly for many patients who cannot afford it. As a result, patients may delay or avoid the procedure, leading to a decline in their quality of life and increased healthcare costs in the long term.

Several initiatives have been launched to provide affordable hip replacement surgeries and devices to address the issue of cost. In addition, several NGOs and private hospitals in developing countries offer low-cost or subsidized hip replacement surgeries to improve access to the procedure.

 

Complications and Risk:

A significant medical procedure called hip replacement surgery involves replacing the diseased or injured hip joint with an artificial one. Like any surgical procedure, hip replacement surgeries carry risks and potential complications. Infection, dislocation, and implant failure are the most frequent hazards of hip replacement surgery.

 

A study that was released in the Journal of the American Medical Association, the risk of infection after hip replacement surgery is approximately 1% to 2%. Infections can be caused by bacteria entering the surgical site during the procedure or by spreading bacteria from another part of the body. In some cases, infections can be severe and require additional surgery to remove the infected tissue and replace the implant.

 

Companies are addressing the risks of infection by developing implant materials and coatings that are less likely to cause infections. For example, some companies are using materials like ceramics and highly cross-linked polyethene, which have been shown to have lower infection rates than traditional implant materials.

 

Companies are also developing new technologies to help surgeons better plan and execute hip replacement surgeries, reducing the risk of complications. For example, some companies use computer-assisted navigation systems that allow for more accurate implant placement and improved surgical outcomes.

 

Dislocation is another common risk associated with hip replacement surgery. The American Academy of Orthopaedic Surgeons estimates that 1% to 5% of patients who undergo hip replacement surgery will experience a dislocation. Dislocation can occur when the ball of the artificial hip joint comes out of its socket. It can be painful and require additional surgery to fix.

 

Lack of skilled professional:

For people with incapacitating hip pain brought on by arthritis or injury, hip replacement surgery can considerably improve their quality of life. However, the need for more skilled orthopaedic surgeons can limit access to this surgery, especially in developing countries. The lack of these qualified professionals can lead to delays in treatment, long waiting lists, and even rationing of care.

 

Based on a World Health Organization report (WHO), developing countries are facing a shortage of healthcare workers, with a particular deficit in the number of skilled orthopaedic surgeons. The report highlights that many low- and middle-income countries have less than one orthopaedic surgeon per 100,000 people, compared to high-income countries where the ratio is around ten times higher. This lack of skilled professionals can lead to inadequate patient care and high rates of disability and mortality due to untreated orthopaedic conditions.

 

The need for qualified professionals is a problem in developing nations and affects many affluent countries. For instance, the need for orthopaedic surgeons is increasing in the United States due to an ageing population and a rise in chronic disorders like obesity and arthritis. This growing demand has led to a shortage of orthopaedic surgeons in certain regions, leading to longer waiting lists and a higher cost of care.

 

Opportunities: 

Increasing demand for hip replacement surgeries: Hip replacement surgery is becoming increasingly popular worldwide, driven by many people suffering from hip joint disorders such as osteoarthritis, rheumatoid arthritis, and avascular necrosis. Over the coming years, hip joint diseases are expected to become more common, partly because of the ageing population.

 

The World Health Organization (WHO) predicts 2 billion individuals will be 60 or older worldwide by 2050. The prevalence of hip joint problems is anticipated to increase along with the ageing population, fuelling increased demand for hip replacement operations and equipment.

 

Furthermore, technological advancements in hip replacement devices and surgical techniques drive demand for hip replacement surgeries. For instance, using minimally invasive surgical procedures and developing more durable and long-lasting hip implants has made hip replacement surgery more accessible and less risky for patients.

 

The increasing demand for hip replacement surgeries is particularly evident in developed countries with a multiplying population. Taking the United States as an example, the number of hip replacement surgeries increased by 25% in just four years, according to the American Joint Replacement Registry. In addition, the demand for hip replacement surgeries is expected to increase in developing countries as well, as these regions continue to improve their healthcare infrastructure and increase access to healthcare services.

 

Advancements in Medical technology: Advancements in medical technology have played a significant role in developing more advanced and personalised hip replacement devices. These advancements include using new materials, minimally invasive techniques, and computer-assisted surgery.

 

Hip replacement implants that are more robust and long-lasting have been made possible by developing new materials, including ceramic and metal alloys. For instance, ceramic hip implants have been found to have a lower risk of wear and tear than traditional metal implants, potentially reducing the need for revision surgeries.

 

Minimally invasive techniques like robotic-assisted surgery have become increasingly popular in hip replacement surgery. These techniques allow smaller incisions, reduced blood loss, and faster patient recovery. Based on a study published in The Journal of Arthroplasty, patients who underwent robotic-assisted hip replacement surgery had fewer hospital days and a smaller chance of complications than those who underwent conventional surgery.

 

A study by the U.S. National Institutes of Health found that patients who underwent robotic-assisted hip replacement surgery had a 22% lower risk of complications and shorter hospital stays than those who underwent traditional surgery.

 

Computer-assisted surgery is another technological advancement that has improved the accuracy and precision of hip replacement surgeries. Creating a virtual model of the patient's hip joint using 3D imaging and computer navigation enables surgeons to plan and carry out operations with better accuracy and precision.

 

According to the FDA, computer-assisted surgery has been demonstrated to shorten the surgical time by up to 30%, lessen blood loss, and reduce the risk of implant mispositioning, potentially minimising the need for revision surgery.

 

 

A growing trend towards outpatient procedures:

There is an increasing trend towards outpatient hip replacement surgeries, where patients can undergo the process and return home on the same day rather than staying in the hospital for several days. Numerous developments in anaesthesia technology, improvements in surgical methods, and the aim to lower healthcare costs all contribute to this trend.

 

There is a chance to create new gadgets and technologies to enhance patient outcomes and cut expenses to meet the rising demand for outpatient operations. For instance, improvements in minimally invasive techniques have allowed surgeons to execute hip replacement procedures through smaller incisions, causing less tissue damage and allowing patients to recover more quickly. Patients can recover quicker and require fewer opioid painkillers with regional anaesthesia, such as spinal or epidural anaesthesia.

 

In addition, there is a trend towards using robotic-assisted surgery for hip replacements, which can improve the accuracy and precision of the procedure while reducing the risk of complications. The American Academy of Orthopaedic Surgeons study found that robotic-assisted hip replacement surgeries resulted in shorter hospital stays and lower readmission rates than conventional procedures.

 

Expansion into developing countries: 

The World Health Organization (WHO) predicts that due to ageing population, urbanization, and changes in lifestyle variables, the prevalence of hip fractures in low- and middle-income countries (LMICs) will rise dramatically. It is predicted that Asia will account for more than 50% of all hip fractures by 2050.

 

The rising demand for hip replacement surgeries and devices in developing countries can be attributed to various factors. One major factor is the growing disposable incomes in these countries, which allows more individuals to afford hip replacement surgeries. According to an international money fund study, the average GDP per capita in developing countries has steadily increased.

 

Another factor is the ageing population in developing countries, increasing the prevalence of hip joint disorders such as osteoarthritis. According to a United Nations report, 2.1 billion people will be 60 or older by the year 2050, with 80% residing in developing nations.

 

Hip Replacement Implants Market Analysis Of Different Segments Covered in the Report

By Type of Product: 

• Total hip replacement

• Partial hip replacement

• Hip resurfacing

 

By Material: 

• Metal-on-polyethylene

• Ceramic-on-polyethylene

• Ceramic-on-ceramic

• Metal-on-metal.

 

End User: 

• Hospitals

• Orthopaedic clinics

• Ambulatory surgical centres

 

Regional Analysis & Insights

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa.

 

 

Regional Coverage Analysis

North America

• The U.S.

• Canada

• Rest of North America

 

Europe

• The U.K.

• Germany

• France

• Italy

• Spain

 

Asia Pacific

• Japan

• China

• India

 

Latin America

• Brazil

• Mexico

 

MEA

• South Africa

• Saudi Arabia

 

Segmentation Writeup:

The CDC shared a study that claims that around 450,000 Americans undergo hip replacement surgery every year. It indicates the significant demand for hip replacement products in the global market. There are four ways to segment the hip replacement market.

 

Based on the type of product, the market is divided into three categories: total hip replacement, partial hip replacement, and hip resurfacing. Total hip replacement products held the largest share in the global hip replacement market accounting for over 75% of the market. Partial hip replacement products are also gaining popularity due to their less invasive nature and reduced recovery time.

 

The hip replacement market can also be segmented by the material used in the artificial joint. The ceramic-on-polyethylene segment held the largest share of the global hip replacement market due to the material's low wear and tear rate and corrosion resistance. Metal-on-polyethylene is also a popular material combination due to its durability and cost-effectiveness.

 

According to the end users, the hip replacement market can be classified into three categories: hospitals, orthopaedic clinics, and ambulatory surgical centres. Hospitals held the largest share of the hip replacement market, accounting for over 50% of the market. However, the ambulatory surgical centre's segment is expected to grow at a higher rate due to the increasing popularity of outpatient surgeries.

 

The hip replacement market can also be segmented regionally into North America, Europe, the Asia-Pacific region, and the rest of the globe. North America, holding the highest share, accounted for more than 50% of the global hip replacement market. This phenomenon can be attributed to the region's high prevalence of hip-related disorders and the availability of advanced medical facilities. We expect the Asia Pacific region to witness the highest growth rate due to the increasing ageing population and rising awareness of hip replacement surgery.

 

Hip Replacement Market Report Coverage:

Report Attribute	Details
Forecast Period	2022-2030
Market size value in 2021	$7.1 billion
Revenue forecast in 2030	$10.65 billion
Growth rate	5,2%
Base year for estimation	2022
Historical data	2017-2021
Unit	USD Billion, CAGR (2022 - 2030)
Segmentation	By product, By Material, By End-user, By Region
By product	Total Hip Replacement, Partial Hip Replacement, Hip Resurfacing
By material	Metal-On-Polyethylene, Ceramic-On-Polyethylene, Ceramic-On-Ceramic, Metal-On-Metal
By end-user	Hospitals, Orthopaedic Clinics, Ambulatory Surgical Centres
By region	North America, Europe, Asia Pacific, Others
Company Usability Profiles	Waldemer Link GmbH, Medacta International, Elite Surgical, Microport Scientific Corporation, Integra Lifesciences Corporation, Corentec Co., Ltd., DJO Global, Inc., Johnson & Johnson Services, Inc. (DePuy Synthes), Conformis, Inc., Gruppo Bioimpianti s.r.l, Synergie Ingeniere Medicale, Stryker Corporation, Zimmer Biomet, Athenahealth, Inc., DePuy Synthes Companies, LimaCorporate S.p.A., Exactech, Inc., Smith & Nephew, B.Braun Melsungen, Arthrex, Inc.

 

Global Hip Replacement Implants Market Competitive Landscape Analysis

• Waldemer Link GmbH

• Medacta International

• Elite Surgical

• Microport Scientific Corporation

• Integra Lifesciences Corporation

• Corentec Co., Ltd.

• DJO Global, Inc.

• Johnson & Johnson Services, Inc. (DePuy Synthes)

• Conformis, Inc.

• Gruppo Bioimpianti s.r.l

• Synergie Ingeniere Medicale

• Stryker Corporation

• Zimmer Biomet

• Athenahealth, Inc.

• DePuy Synthes Companies

• LimaCorporate S.p.A.

• Exactech, Inc.

• Smith & Nephew

• B.Braun Melsungen

• Arthrex, Inc.

 

Key Developments:

March 2023: Exactech, a leading medical device company specializing in orthopaedic implants and surgical instruments, announced the addition of a new personalized shoulder implant to its product portfolio. The new implant, called the Alteon® Cup Humeral Resurfacing, is designed to provide a custom fit for each patient and improve clinical outcomes.

 

February 2023: Zhongchao Inc., a leading provider of healthcare information and online medical education services in China, announced the renewal of its partnership with Johnson & Johnson. The two companies will carry on working together on the development of innovative healthcare solutions for the Chinese market.

 

January 2023: Medical device company Zimmer Biomet announced its plans to acquire Embody, a privately held medical device firm that focuses on developing advanced implantable medical devices, for a total of $155 million. The deal was structured as an all-cash transaction and is subject to mandatory closing conditions and regulatory approvals.

 

November 2022: Arthrex, a leading manufacturer of orthopaedic surgical equipment and instruments, announced a new partnership with Richard Wolf, a global provider of minimally invasive surgical solutions. The partnership aims to expand comprehensive operative care solutions for orthopaedic surgeons and their patients.

 

 

Products developed by major companies:

• Zimmer Biomet is a leading manufacturer of musculoskeletal medical devices, offering a wide range of products for joint replacement, trauma, spine, dental, and other surgical procedures. Some of the notable products developed by Zimmer Biomet include the Persona Knee System, the Trabecular Metal Technology, and the ROSA Knee System.

 

• Johnson & Johnson Services, Inc. (DePuy Synthes) is another major player in the field of orthopaedic devices and implants, offering a variety of products for joint replacement, spine, sports medicine, and trauma. Some of the notable products developed by DePuy Synthes include the Attune Knee System, the VELYS Digital Surgery System, and the Symphony Occipito-Cervico-Thoracic (OCT) System.

 

• Stryker Corporation is a leading medical technology company that provides a wide range of products for orthopaedic, neurotechnology, surgical, and medical-surgical applications. Some of the notable products developed by Stryker include the Mako Total Knee System, the Trident Acetabular System, and the Gamma3 Nail System.

 

• Smith & Nephew is a global medical technology company that specializes in orthopaedic reconstruction, sports medicine, and wound management. Some of the notable products developed by Smith & Nephew include the NAVIO Surgical System, the Journey II Knee System, and the OXINIUM+ Knee System.

 

• MicroPort Scientific Corporation is a multinational medical device company that focuses on developing innovative solutions for orthopaedic, cardiovascular, and endovascular diseases. Some of the notable products developed by MicroPort include the PHANTOM™ ActivCore Nail System, the ADVANCE® Shoulder System, and the PROCOTYL® Prime Acetabular Cup.