Industry Background:
The total hip replacement procedure is to replicate the action of the natural joint. This is done in four parts, a socket, liner, ball, and stem. In this, the cup is made of metal and fits into the natural hip socket. The liner is made up of medical grade polyethylene. In coming years Artificial Intelligence helps orthopedic surgeons to predict which patients will do well after joint replacement procedures and which less benefited are.
According to AMA Research, the market for Total Hip Replacement is expected to register a CAGR of 7.72% during the forecast period to 2030. This growth is primarily driven by Increase in Chronic Pain and Impairment of Daily Function of Patients
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Johnson & Johnson (United States), Stryker (United States), Zimmer Biomet (United States), Smith & Nephew (United Kingdom), Wright Medical (United States), ConforMIS (United States), Corin (United Kingdom) and Maxx Orthopedics Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In August 2023, Smith+Nephew 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
In February 2024, Hip Innovation Technology launched its pivotal clinical research trial under an FDA approved Investigational Device Exemption (IDE). The IDE Study is being conducted to determine the safety and effectiveness of the HIT Reverse HRS in Primary Total Hip Arthroplasty (THA).Major vendors are trying to grab the market share from different regions such as the Asia Pacific and North America by developing new and innovative products compiled with new technologies such as lightweight materials which can help the logistics vendors achieve greater fuel efficiency along with good service quality for their customers. Also, large players such as Maxon Lift Corporation are expanding their business across different regions of the world. For instance, in 2016, Maxon Lift Corporation opened a new warehouse of finished goods in Ontario to expand its business across the Canadian market. Moreover, in 2017, Maxon Lift Corporation has also signed a partnership with Ryder System Inc. (a leading vendor in commercial fleet management, supply chain solutions, and dedicated transportation, across the United States) wherein, Maxon has outsourced its warehousing function across five different Ryder-operated warehouse facilities in Georgia, Indiana, Pennsylvania, Texas, and California.
Influencing Trend:
Increasing Number of Young and Active Patients Undergoing Hip Arthroplasty and Surface Replacement or Short-Stemmed Femoral Shaft Prostheses
Market Growth Drivers:
Increase in Chronic Pain and Impairment of Daily Function of Patients and Rising Severe Arthritic Conditions, Especially Osteoarthritis
Challenges:
Risks Generated After This Industry Includes Blood Clots, Infection and Create Metal-On-Metal Complications
Opportunities:
High opportunity in United States due to rising number of individuals in the United States opt for elective joint replacements to maintain active lifestyles
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Total Hip Replacement Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Total Hip Replacement Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Total Hip Replacement players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Total Hip Replacement Study Sheds Light on
The Total Hip Replacement Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Total Hip Replacement industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Total Hip Replacement industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.