About Artificial Hip Joint
An artificial hip joint is a form of hip replacement in which an injured or damaged hip joint is replaced with an artificial implant. It is used when mobility is limited and pain occurs even at rest. These are made of metal, plastic, or ceramic. The prevalence of osteoarthritis is gradually increasing and has become an economic burden for many countries around the world. According to the International Osteoporosis Foundation, osteoporosis causes more than 8.9 million fractures annually, more than 200 million people worldwide suffer from osteoporosis, every third woman over the age of 50, and every fifth man suffers from osteoporotic fractures in his lifetime. Osteoporosis has no clinical manifestations until a fracture is present. Hip arthrosis causes degeneration of the hip joint and can be treated with hip replacement. In hip replacement surgery, the damaged cartilage and bone components are replaced with a hip prosthesis. Hip replacement procedures are increasing significantly due to the increase in the aging population, active government support, and improved patient knowledge of replacement surgery.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail of competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Artificial Hip Joint market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Zimmer Biomet Holdings (United States), Johnson & Johnson (United States), Stryker Corporation (United States), Smith & Nephew (United Kingdom), MicroPort Orthopedics, Inc. (United States), Exactech, Inc. (United States), DJO Global, Inc. (United States), B.Braun (Germany), Corin Group (United Kingdom), Waldemer Link GmbH & Co. KG (Germany), Wright Medical N.V. (Netherlands), Arthrex, Inc. (United States), Conformis Inc. (United States), Corentec Co., Ltd. (South Korea), Elite Surgical (South Africa), Surgival (Spain), Synergie Ingenierie Medicale (France), Evolutisfrance (France) and FH Ortho (France) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Integra LifeSciences Corporation (United States), Medacta International (Switzerland), Tecomet, Inc. (United States) and Peter Brehm GmbH (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Artificial Hip Joint market by Type (Total Hip Replacement Implant, Partial Hip Replacement Implant, Resurfacing Implant and Revision Hip Replacement Implant), Application (Hospitals, Orthopedic Clinics and Ambulatory Surgical Centers) and Region.
On the basis of geography, the market of Artificial Hip Joint 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). If we see Market by Components, the sub-segment i.e. Ace Tabular Cup Systems will boost the Artificial Hip Joint market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Bearing Type, the sub-segment i.e. Fixed Bearing Hip Implants will boost the Artificial Hip Joint market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material Type, the sub-segment i.e. Metal-On-Metal will boost the Artificial Hip Joint market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Growing Health Awareness among Masses, Increase in the Spending Capacity of the Population and The Rising Need for Revision Procedure after Wearing Out Of Previously Implanted Product
Market Growth Drivers:
Growing Geriatric Population, Rising Prevalence of Hip Osteoarthritis, Increasing Popular Minimally Invasive Surgeries and Growing Application of Artificial Hip Joint
Challenges:
Dearth of Skilled Professionals
Restraints:
High Cost of Surgeries, Risk of Complications after Surgery and Strict Rules for the Approval of Devices
Opportunities:
Growing Adoption of Total Hip Replacement Implants, Advancement in Technology Is Enhancing the Market and The Flourishing Healthcare Industry in the Developed Countries
Market Leaders and their expansionary development strategies
In March 21, 2024, Stryker a leading global medical technology company, completed the previously announced acquisition of SERF SAS, a France-based joint replacement company, from Menix.The acquisition of SERF SAS further strengthens global portfolio and reinforces the dedication to orthopaedic excellence.
In July 2019, researchers at the Indian Institute of Technology in Hyderabad announced that they were developing new technologies for biocompatible implants. This implant would enable faults to be detected for the first time through non-invasive diagnosis and monitoring. Initial detection without surgery would help patients avoid reverse and painful surgery.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Venture Capitalists, Government Regulatory, Research Organizations and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.