The global hip replacement implant market has gained immense popularity in the recent years and is expected to reach major heights in terms of market size in 2023, while registering a significant compound annual growth rate. Hip replacement is a surgical method in which the hip joint is retrieved with prosthetic implant. The hip replacement implant is one of the compelling parts in the orthopedic devices industry. The global market of hip replacement is driven by the increasing surgeries of the old age population. The major reason for the rise in hip transplant surgeries is because of availability of the advanced and much developed techniques such as 3D printing which are used for accurate result in invasive surgeries. Increase in awareness among the patients and rising government efforts to escort new techniques is one of the key factors for the growth in the market. Although availability of new technology and awareness among patients, the hip replacement market faces some challenges globally.
Product Outlook and Trend Analysis:
On the basis of the product the global hip replacement implant market is categorized into total hip replacement implant, partial hip replacement implant, revision hip replacement implant, and hip resurfacing implant. The total hip replacement implant has acquired the largest share in the market and will continue to grow at a higher compound annual growth rate. The total hip replacement is further divided into mobile bearing hip transplant and fixed bearing hip transplant. Based on the two the fixed bearing is most widely used.
Material Outlook and Trend Analysis:
On the basis of material the global hip replacement implant market is segmented into metal-on-polyethylene, metal-on-metal, ceramic-on-polyethylene, ceramic-on-metal and ceramic-on-ceramic. Among them the largest share in the market is acquired by the metal on polyethylene segment and will continue to grow at a good compound annual growth rate. On the other hand the ceramic-on-polyethylene will witness the fastest growth in the near future.
End User Outlook and Trend Analysis:
Based on the end users the global hip replacement implant market is segregated into Orthopedic Clinics, Hospitals, Ambulatory Surgical Centers and other end users. The hospitals segment has acquire the largest share in the entire market and will continue to grow at a said compound annual growth rate. As hospitals have appropriate units for surgery and other facilities which one of the prime factor for the growth of this segment. On the other hand the orthopedic clinics will witness considerable growth in the near future.
Regional Outlook and Trend Analysis:
The North-American and European region have acquired the largest share in the market and will lucratively grow at a high compound annual growth rate of. The factors such as existence of large industry players, healthcare policies and high incomes are the reason for the growth of these regions. On the other hand the Asia-Pacific region will register huge demand in the near future as technologies are advancing in countries such as China, India and Japan.
Competition Outlook and Trend Analysis:
The leading competitors in the global hip replacement implant market are Exactech Inc., Zimmer Biomet Holdings Inc., Stryker Corporation, B. Braun Melsungen AG, OMNIlife Science Inc., DJO Global Inc, MicroPort Scientific Corporation, ConforMIS, Peter Brehm, Evolutis, Integra LifeSciences, N.V., Tecomet, Corin, and Shanghai MicroPort Orthopedics.
The Hip Replacement Implant Market is segmented into:
Based on Product Type:
total hip replacement implant
partial hip replacement implant
revision hip replacement implant
hip resurfacing implant
Based on Material:
Based on End Users:
Ambulatory Surgical Centers
Other End Users
Based on Regions:
Rest of Europe
Rest of Asia Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?