Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Hip Replacement Market – Insights

Hip replacement is a surgical procedure in which the hip joint is replaced by an artificial prosthetic implant.  The procedure is called hip arthroplasty. The surgery is generally conducted to relieve joint pain (arthritis) or for the treatment of physical hip joint damage and hip fractures. Hip replacement surgery can be performed as a total replacement or a hemi (half) replacement.

Statistics:

The global hip replacement market is estimated to account for US$ 10,311.3 Mn in terms of value by the end of 2027.

Global Hip Replacement Market: Drivers

Increasing prevalence of musculoskeletal disorders is expected to boost growth of the global hip replacement market over the forecast period. For instance, according to the study, ‘Osteoarthritis year in review 2019: epidemiology and therapy’, published in the journal Osteoarthritis and Cartilage in January 2020, 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.

Moreover, increasing number of knee arthroplasty procedures is also expected to aid in growth of the market. For instance, in 2018, the American Academy of Orthopedic Surgeons (AAOS) and the American Joint Replacement Registry (AJRR) recorded over 1 million patients and over 1.4 million hip and knee arthroplasty procedures.

North America region held dominant position in the global hip replacement market in 2014, accounting for 45.5% share in terms of value, followed by Europe.

Figure 1. Global Hip Replacement Market Share (%), by Region, 2019

Hip Replacement  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2020)

Global Hip Replacement Market: Restraints

Stringent regulator scenario regarding marketing of hip replacement is expected to hinder growth of the market. For instance, from May 2016, the U.S. FDA mandated that all manufacturers of metal-on-metal total hip implants are required to stop marketing their devices and submit premarket approvals for approval before marketing the devices.

Moreover, high cost of hip implant products and surgeries is expected to hamper growth of the market. For instance, hip replacement surgery costs around US$ 20,000 to US$ 60,000 in the U.S.

Global Hip Replacement Market: Opportunities 

Increasing geriatric population is expected to offer lucrative growth opportunities for players in the global hip replacement market. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.

Moreover, increasing number of accidents is also expected to aid in growth of the market. For instance, according to 2018 Fatal Motor Vehicle Crashes: Overview by National Highway Traffic Safety Administration, a U.S. federal agency, 10,511 deaths were registered in the U.S. in 2018.

Hip Replacement  | Coherent Market Insights

Total Hip Replacement Implant segment in the global hip replacement market was valued at US$ 4,179.1 Mn in 2019and is expected to reach US$ 6,112.4 Mn by 2027 at a CAGR of 4.9% during the forecast period.

Market Trends/Key Takeaways

The U.S. FDA has not approved any metal-on-metal total hip replacement devices for use in the US. There are two FDA-approved metal-on-metal hip resurfacing devices available, one of which was developed by Smith & Nephew.

In the U.S., government bodies are focused reducing expenditures of common inpatient surgeries for Medicare beneficiaries. For instance, in February 2020, the Centers for Medicare & Medicaid Services issued a proposed rule in the Federal Register proposing a three-year extension and changes to the episode definition and pricing in the Comprehensive Care for Joint Replacement Model.

Regulations

U.S.

According to the U.S. FDA most, but not all, prosthetic components and controls are classified as class I. Almost all class I devices are exempt from premarket notification by FDA, but as such are subject to regulation by the U.S. FDA, Center for Devices and Radiological Health (CDRH).

According to 21 CFR Part (Parts 800-1299) of the FDA’s Product Classification Listings, all prosthetic devices must comply with Federal regulations through FDA/CDRH processes. (Parts 890.3420 and 890.3025), the FDAs product classification listings, external limb prosthestic components, and accessories are defined as physical medicine devices and are generally considered class I devices.

Value Chain Analysis -

Hip Replacement  | Coherent Market Insights

Hip Replacement  | Coherent Market Insights

Global Hip Replacement Market: Competitive Landscape 

Major players operating in the global hip replacement market include, Depuy Synthes (Johnson & Johnson), Microport Scientific Corporation, Zimmer Biomet, Exactech Inc., DJO Global Inc., Stryker Corporation, B. Braun Melsungen, and Smith & Nephew.

Global Hip Replacement Market: Key Developments

Major players in the market are focused on expanding their service portfolio. For instance, in February 2020, Smith & Nephew announced 'Positive Connections', a turnkey service to support healthcare providers that are focused on offering increased access for orthopedic cases to Ambulatory Surgery Centers (ASCs) and other outpatient settings.

Players in the market are also focused on launching Artificial Intelligence (AI)-based products. For instance, in December 2019, RSIP Vision, an AI, computer vision, and image processing technology company, launched a new AI-based total hip replacement solution that provides a precise, automated 3D structure of the patients' hip for effective surgery.

Hip Replacement (CVIS) is performed by replacing damaged bone and cartilage with artificial prosthetic components such as hip stem system, acetabular cup system, and others. Hip replacement surgery can be performed as a total replacement or a hemi (half) replacement. Increasing prevalence of musculoskeletal disorders is expected to boost growth of the global hip replacement market over the forecast period. Furthermore, factors such as increasing number of knee arthroplasty procedures, increasing incidences of hip fracture in geriatric population and, increasing number of accidents is also expected to assist the growth of the market during the forecast period.

Key features of the study:

  • This report provides in-depth analysis of the Hip Replacement market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the global Hip Replacement market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, Depuy Synthes (Johnson & Johnson), Microport Scientific Corporation, Zimmer Biomet, Exactech Inc., DJO Global Inc., Stryker Corporation, B. Braun Melsungen, and Smith & Nephew.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global Hip Replacement market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Hip Replacement market

Detailed Segmentation:

  • Hip Replacement Market, By Product Type:
    • Total Hip Replacement Implant
    • Partial Hip Replacement Implant
    • Hip Resurfacing
    • Revision Hip Implants
  • Hip Replacement Market, Components
    • Hip Stem Systems
    • Acetabular Cup Systems
    • Revision Accessories and Components
  • Hip Replacement Market, By End User:
    • Hospitals
    • Orthopedic Clinics
    • Ambulatory Surgical Centers 
  • Hip Replacement Market, By Region:
    • North America
      • By Product
        • Total Hip Replacement Implant
        • Partial Hip Replacement Implant
        • Hip Resurfacing
        • Revision Hip Implants
      • Components
        • Hip Stem Systems
        • Acetabular Cup Systems
        • Revision Accessories and Components
      • By End User
        • Hospitals
        • Orthopedic Clinics
        • Ambulatory Surgical Centers
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Product
        • Total Hip Replacement Implant
        • Partial Hip Replacement Implant
        • Hip Resurfacing
        • Revision Hip Implants
      • Components
        • Hip Stem Systems
        • Acetabular Cup Systems
        • Revision Accessories and Components
      • By End User
        • Hospitals
        • Orthopedic Clinics
        • Ambulatory Surgical Centers
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Product
        • Total Hip Replacement Implant
        • Partial Hip Replacement Implant
        • Hip Resurfacing
        • Revision Hip Implants
      • Components
        • Hip Stem Systems
        • Acetabular Cup Systems
        • Revision Accessories and Components
      • By End User
        • Hospitals
        • Orthopedic Clinics
        • Ambulatory Surgical Centers
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product
        • Total Hip Replacement Implant
        • Partial Hip Replacement Implant
        • Hip Resurfacing
        • Revision Hip Implants
      • Components
        • Hip Stem Systems
        • Acetabular Cup Systems
        • Revision Accessories and Components
      • By End User
        • Hospitals
        • Orthopedic Clinics
        • Ambulatory Surgical Centers
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Product
        • Total Hip Replacement Implant
        • Partial Hip Replacement Implant
        • Hip Resurfacing
        • Revision Hip Implants
      • Components
        • Hip Stem Systems
        • Acetabular Cup Systems
        • Revision Accessories and Components
      • By End User
        • Hospitals
        • Orthopedic Clinics
        • Ambulatory Surgical Centers
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Product
        • Total Hip Replacement Implant
        • Partial Hip Replacement Implant
        • Hip Resurfacing
        • Revision Hip Implants
      • Components
        • Hip Stem Systems
        • Acetabular Cup Systems
        • Revision Accessories and Components
      • By End User
        • Hospitals
        • Orthopedic Clinics
        • Ambulatory Surgical Centers
      • By Country:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Depuy Synthes (Johnson & Johnson) *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • Microport Scientific Corporation
    • Zimmer Biomet
    • Exactech Inc.
    • DJO Global Inc.
    • Stryker Corporation
    • B. Braun Melsungen
    • Smith & Nephew
  •  “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Components
      • Market Snippet, By End User
      • Market Snippet, By Region
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Regulatory Scenario
    • Mergers and Acquisitions
  4. Global Hip Replacement Market, By Product Type, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Total Hip Replacement Implant
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Partial Hip Replacement Implant
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Hip Resurfacing
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Revision Hip Implants
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. Global Hip Replacement Market, By Components, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hip Stem Systems
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Acetabular Cup Systems
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Revision Accessories and Components
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global Hip Replacement Market, By End User, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Orthopedic Clinics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Ambulatory Surgical Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  7. Global Hip Replacement Market, By Region, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Components, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Components, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Components, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Components, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of APAC
    • Middle East
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Components, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Components, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • South Africa
        • Central Africa
        • North Africa
  8. Competitive Landscape
    • Company Profiles
      • Depuy Synthes (Johnson & Johnson)
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Microport Scientific Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Zimmer Biomet
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Exactech Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • DJO Global Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Stryker Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • B. Braun Melsungen
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Smith & Nephew
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 24 market data tables and 12 figures on “Hip Replacement Market - Global forecast to 2027”.

Frequently Asked Questions

The global hip replacement market is estimated to reach US$ 10,311.3 Mn in terms of value by the end of 2027.
Major players operating in the global hip replacement market include Depuy Synthes (Johnson & Johnson), Microport Scientific Corporation, Zimmer Biomet, Exactech Inc., DJO Global Inc., Stryker Corporation, B. Braun Melsungen, and Smith & Nephew.
High cost of hip implant products and surgeries is one of the major factors that is expected to hamper growth of the market over the forecast period.
Increasing prevalence of musculoskeletal disorders is one of the major factors that is expected to propel growth of the market over the forecast period.
Among components, hip stem systems segment is expected to hold dominant position in the global hip replacement market in 2019, accounting for 54.2% share, in terms of value, followed by acetabular cup systems, respectively.
Among regions, North America is expected to hold dominant position in the global hip replacement market in 2019, accounting for 45.5% share in terms of value, followed by Europe.
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