Hip Replacement Market will multiply at a notable CAGR of 4.2% during the forecast period of 2017 to 2024

Hip replacement is a surgical procedure that involves replacing a damaged or worn hip joint with a prosthetic implant. The procedure is performed to alleviate pain and improve mobility in patients suffering from hip osteoarthritis, rheumatoid arthritis, hip fractures, or other conditions that affect the hip joint.

The Global Hip Replacement Market is expected to grow significantly over the next few years, driven by factors such as an aging population, rising prevalence of hip-related disorders, and advancements in hip replacement technologies.

Some of the key players operating in the hip replacement market include Zimmer Biomet Holdings, Inc., Johnson & Johnson Services, Inc., Stryker Corporation, Smith & Nephew plc, and B. Braun Melsungen AG.

Request for a Free Sample PDF Here@
https://www.persistencemarketresearch.com/samples/12037

The hip replacement market in Korea is growing rapidly, driven by factors such as an aging population, rising prevalence of hip-related disorders, and increasing demand for advanced medical devices.

From 2017 through 2024, the market for hip replacements will grow significantly, with a CAGR of 4.2%. By the end of 2024, prospects in the global hip replacement market are expected to generate US$9,128.5 million in revenue, a significant increase from the market's anticipated value of US$6,830.5 million in 2017.

One of the key drivers of the hip replacement market is the increasing aging population. The World Health Organization (WHO) estimates that the global population aged 60 years and above will reach 2 billion by 2050, up from 900 million in 2015. This demographic trend is expected to drive the demand for hip replacement surgeries, as the incidence of hip-related disorders such as osteoarthritis and fractures increases with age.

In addition to the aging population, the rising prevalence of hip-related disorders is also fueling the growth of the hip replacement market. For instance, according to the Arthritis Foundation, over 32.5 million Americans suffer from osteoarthritis, a common cause of hip pain and disability. The increasing prevalence of osteoarthritis and other hip-related conditions is expected to drive the demand for hip replacement surgeries.

For critical insights on this market, request for customization here @
https://www.persistencemarketresearch.com/request-customization/12037

Advancements in hip replacement technologies are also contributing to the growth of the market. Newer implant materials, such as ceramic and metal-on-metal, offer greater durability and longevity compared to traditional implant materials such as polyethylene. In addition, advances in surgical techniques, such as minimally invasive hip replacement, have reduced recovery times and improved patient outcomes.

Geographically, North America and Europe are the largest markets for hip replacement surgeries, accounting for over 70% of the global market. This is due to factors such as the high prevalence of hip-related disorders in these regions, favorable reimbursement policies, and a well-established healthcare infrastructure.

If You Want To Know The Business Opportunity/Market Value, Purchase The Premium Insight @ https://www.persistencemarketresearch.com/checkout/12037

In conclusion, the hip replacement market is poised for significant growth over the next few years, driven by an aging population, rising prevalence of hip-related disorders, and advancements in hip replacement technologies. As the demand for hip replacement surgeries increases, manufacturers and healthcare providers will continue to invest in innovative solutions to improve patient outcomes and meet the growing need for hip replacement surgeries.

Check out more Premium studies published by Persistence Market Research

Heart Attack Diagnostics Market
https://www.persistencemarketresearch.com/market-research/heart-attack-diagnostics-market.asp

Disposable Diabetes Devices Market
https://www.persistencemarketresearch.com/market-research/disposable-diabetes-devices-market.asp

Smart Hearing Aids Market
https://www.persistencemarketresearch.com/market-research/smart-hearing-aids-market.asp

Contact
Address - 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com

About Persistence Market Research:
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.

This release was published on openPR.