Hip Replacement Implants Market to Worth USD 6.41 Billion With a 4.90% CAGR by 2029

Data Bridge Market Research analyses that the hip replacement implants market is expected to undergo a CAGR of 4.90% during the forecast period. This indicates that the market value, which was USD 6.41 billion in 2021, would rocket up to USD 9.41 billion by 2029. "Metal-on-Polyethylene" dominates the product segment of the hip replacement implants market owing to the fact that it offers greater benefits than other alternatives such as fewer complications and lesser wear particles and is the most cost-effective implant among others. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Surgical implantation has taken medical science to a whole different level. With surgical implantation, it has become easy to replace the broken part with a new and artificial part. These implants relive the individual of pain and restore the mobility. These implants, especially hip implants, are available in varying sizes, shapes, materials and dimensions.

Opportunities

Furthermore, upsurge in the public-private funding for target research activities, increasing levels of hospital data, growing geriatric population base and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, surging number of strategic collaborations, rising internet penetration rate, growing number of hospitals and laboratories, growing number of younger individuals suffering from degenerative diseases and increasing per capita expenditure on health care will further expand the market's growth rate in the future.

Restraints/Challenges Global Hip Replacement Implants Market

On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities and stringent regulations for the approval of devices are expected to obstruct market growth. Also, lack of favourable reimbursement scenario and technology penetration in the developing economies, high cost of surgical procedures, interoperability issues, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.

Recent Development

In July 2021, Medacta announced the expansion of hip revision portfolio to improve the profitability quotient.
In Auhust 2021, Zimmer Biomet received approval from FDA clearance of the ROSA hip system for the robotically assisted anterior total hip replacement.
The Prominent Key Players Operating in the Global Hip Replacement Implants Market Include:

Zimmer Biomet (U.S.)
Johnson and Johnson Services, Inc. (U.S.)
Stryker (U.S.)
Smith+Nephew (U.K.)
B.Braun SE (Germany)
Corin (U.K.)
Waldemer Link GmbH & Co. KG (Germany)
Wright Medical Group N.V. (U.S.)
Arthrex, Inc. (U.S.)
Conformis (U.S.)
Corentec Co., Ltd. (South Korea)
Elite Surgical (India)
Surgival (Spain)
Synergie Ingenierie Medicale (France)
Evolutis (France)
Integra LifeSciences Corporation (U.S.)
Medacta International (Switzerland)
Tecomet,Inc. (U.S.)
PETER BREHM GmbH (Germany)
MicroPort Scientific Corporation (China)

To Gain More Insights into the Market Analysis, Browse Summary of the Research Report@ https://www.databridgemarketresearch.com/reports/global-hip-replacement-implants-market

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