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A Comprehensive Outlook At The Global Hip Replacement Industry In 2023: Growth Forecast To 2032 Through Competitive Strategies, Segmentation And Trends || Johnson & Johnson, Stryker Corporation, Smith & Nephew PLC, B. Braun Melsungen AG
Hip Replacement Market
Hip Replacement Market Size, Growth Rate, And Forecast
The global hip replacement market size is expected to grow from $6.67 billion in 2022 to $6.98 billion in 2023 at a compound annual growth rate (CAGR) of 4.61%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global hip replacement market size is expected to reach $8.50 billion in 2027 at a CAGR of 5.07%.
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Hip Replacement Market Drivers
The increase in incidences of hip injuries is expected to propel the growth of the hip replacement market going forward. Hip injuries happen when one of the muscles that support the hip joint is overstretched or damaged. People with arthritis, avascular necrosis, or other types of hip joint deterioration may experience hip pain and stiffness that can be treated with a hip replacement. For instance, in June 2021, according to the National Library of Medicine, a US-based biomedical library, hip fracture incidence is thought to be at 1.6 million per year worldwide, and it is predicted to rise to 2.6 million by 2025 and 4.5 million by 2050. Therefore, the increase in incidences of hip injuries is driving the growth of the hip replacement market going forward.
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Hip Replacement Market Segments
• By Procedure: Total Hip Replacement, Partial Hip Replacement, Revision Hip Replacement, Hip Resurfacing
• By Material: Metal-On-Metal, Metal-On-Polyethylene, Ceramic-On-Polyethylene, Ceramic-On-Metal, Ceramic-On-Ceramic
• By End-User: Hospitals, Speciality Clinics, Ambulatory Surgery Centers
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the hip replacement market.
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Hip Replacement Market Key Players
Major competitors in the hip replacement market are Johnson & Johnson, Stryker Corporation, Smith & Nephew PLC, B. Braun Melsungen AG, ConforMIS Inc, Exactech Inc, MicroPort Scientific Corporation, Zimmer Biomet Holdings Inc, Corin Group PLC, Gruppo Bioimpianti S.R.L., Integra LifeSciences, Kyocera Corporation, Medacta International, Merete, Colfax Inc.
The Business Research Company's "Global Hip Replacement Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Hip Replacement Market Include:
1. Executive Summary
2. Hip Replacement Market Characteristics
3. Hip Replacement Market Trends And Strategies
4. Hip Replacement Market - Macro Economic Scenario
5. Hip Replacement Market Size And Growth
………………
27. Hip Replacement Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hip Replacement Market
29. Hip Replacement Market Future Outlook and Potential Analysis
30. Appendix
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