Hip Replacement Implant Market Scope
A hip replacement implant, an invasive surgical procedure that intended to restore mobility and relieve pain usually associated with arthritis and other hip injuries. A world’s geriatric population continues to grow at an unprecedented rate. In 2016, according to National Institute of Health (NIH), 8.5 percent of people worldwide (617 million) are aged 65 and over and this percentage is projected to jump to nearly 17 percent of the world’s population by 2050 (1.6 billion). With this apparent surge in the geriatric population, the healthcare industry is flourishing, particularly in the developed countries, and that is gaining strong traction of global hip replacement implants market.
According to AMA, the Global Hip Replacement Implant market is expected to see growth rate of 3.6% Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Hip Replacement Implant market throughout the predicted period.
Zimmer Biomet (United States), Johnson and Johnson Services, Inc. (United States), Stryker (United States), Smith and Nephew plc (United Kingdom), B.Braun Melsungen AG (Germany), Corin (United Kingdom), Waldemer Link GmbH & Co. KG (Germany), Wright Medical Group N.V. (United States), Arthrex, Inc. (United States) and Conformis (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Synergie Ingenierie Medicale (France), Evolutisfrance (France) and Group FH Ortho communication (France).
Segmentation Overview
The study have segmented the market of Global Hip Replacement Implant market by Type (Total Hip Replacement Implant, Partial Hip Replacement Implant, Hip Resurfacing Implant and Revision Hip Replacement Implant) and Region with country level break-up.
On the basis of geography, the market of Hip Replacement Implant has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Increasing Patient Inclination Towards Minimally Invasive Surgery (MIS) and Rapid Innovation in Technology and High R&D Expenditure by Key Market Players
Market Growth Drivers:
Rising Clinical Education Among Patients and The Growth in Demand for Hip Replacement Implants from the Geriatric Population and Increase in the Prevalence of Obesity and Arthritis across the World
Challenges:
Low Affordability due to High Costs and Less Access to New Custom Hip Implant Procedures in Asian Pacific Countries
Restraints:
High Cost of Hip Replacement Surgeries
Opportunities:
Increasing Investment in the Development of Healthcare Infrastructure by Government in Developing Countries and Surge in the Incidence of Trauma/Accidental Injuries across the World
Market Leaders and their Expansionary Development Strategies
In March 2024, Stryker a leading global medical technology company, announced today that it has completed the previously announced acquisition of SERF SAS, a France-based joint replacement company, from Menix.
In August 2023,Smith+Nephew has announced the launch of its OR3O Dual Mobility System for use in primary and revision hip arthroplasty in India. Compared with traditional solutions, dual mobility implants have a small diameter femoral head that locks into a larger polyethylene insert - increasing stability, reducing dislocation risk, and offering improved range of motion.
Key Target Audience
Orthopedic Implants Manufacturing Companies, Medical Device Distributors/Suppliers, Healthcare Institutions, Health Insurance Players, Regulatory Authorities and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.