Hip replacement market growth is predicted to expand globally over the course of the projected period due to an increase in the prevalence of musculoskeletal issues. For instance, the median proportion of years lived with disability due to musculoskeletal disorders increased from 11.8% in 2000 to 13.5% (9.6-16.6) in 2015, according to the study "Osteoarthritis year in review 2019: epidemiology and therapy" published in the journal Osteoarthritis and Cartilage in January 2020. Additionally, rising knee arthroplasty surgeries are anticipated to support market expansion. For instance, approximately 1 million patients and over 1.4 million hip and knee arthroplasty surgeries were documented in 2018 by the American Academy of Orthopaedic Surgeons (AAOS) and the American Joint Replacement Registry (AJRR). The growing geriatric population is anticipated to provide competitors in the worldwide hip replacement market with lucrative growth prospects. For instance, the World Health Organisation predicts that the number of seniors will increase from 900 million in 2015 to 2 billion by 2050. A rise in accidents is also projected to encourage market expansion. For instance, 10,511 fatalities were reported in the United States in 2018, according to 2018 Fatal Motor Vehicle Crashes: Overview by the National Highway Traffic Safety Administration, a U.S. federal agency.
According to Coherent Market Insights, by the end of 2027, the market for Hip Replacement is anticipated to be worth US$10,311.3 million.
Prominent Companies in the Hip Replacement Industry:
Stryker
The company was started in 1941 and is located in Kalamazoo, Michigan, United States. The Stryker Corporation creates, produces, and sells specialised surgical and healthcare products. The corporation announced in January 2022 that it will purchase Vocera Communications, a digital care company, for about $3 billion. Stryker announced in January 2021 that it will buy OrthoSensor, Inc., a joint replacement technology company.
B. Braun Melsungen
The company was founded in 1839 and has its main office in Melsungen, Germany. The business sells instruments, trocar systems, ligation clips, light sources, anaesthesia tools, electrosurgical, suction, and equipment for wound closure, blood glucose monitoring, and insulin injection. In March 2022, B. Braun acquired Intermedt Medizin & Technik GmbH, a leader in the development of dialysis concentrates.