Global Hip Replacement Market was valued at USD 7.48 billion in 2021 and is expected to reach USD 8.89 billion by the year 2028, at a CAGR of 2.5%.
The hip replacement market is a vital segment of the global orthopedic industry, dedicated to enhancing the quality of life for individuals suffering from hip joint ailments. Hip replacement procedures involve the surgical removal of a damaged hip joint and its replacement with an artificial implant. This market has witnessed significant growth over the years, primarily due to the rising prevalence of hip-related disorders, an aging population, and advancements in implant materials and surgical techniques.
The global hip replacement market is segmented into primary hip replacements, partial hip replacements, and revision hip replacements, with primary hip replacements being the most commonly performed procedure. Key players in this market include orthopedic implant manufacturers, surgical equipment suppliers, and healthcare facilities specializing in joint replacement surgeries.
Top Key Players Covered in The Hip Replacement Market
ConMed Corporation (US), DJO LLC (US), B. Braun Melsungen AG (Germany), OMNIlife Science Inc. (US), Exactech Inc. (the US), MicroPort Scientific Corporation (China), Smith & Nephew plc (UK), Stryker Corporation (US), Johnson & Johnson (US), Zimmer Biomet (US), Medacta International (Switzerland) and other major players.
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Market Dynamics and Key Factors in Hip Replacement:
- Hip replacement surgery is one of the most successful procedures performed by orthopedic surgeons for relieving chronic hip pain and is proven by many scientific studies
- Dislocation and loosening of the implant are the most common complications that arise after hip replacement surgery. In rare cases, infection and the formation of blood clots in the hip region are reported.
For the Purpose Of This Report, Reports And Data Has Segmented The Global Hip Replacement Market On The Basis Of Type, By Source, By Product, And Region:
- Total Hip Replacement
- Partial Hip Replacement
- Hip Resurfacing
- Revision Hip Replacement
By Implant Type
- Metal on Metal
- Metal on Polyethylene
- Ceramic on Metal
By End Users
- Hospitals & Surgery Centers
- Orthopaedic Clinics
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Report Includes Competitor’s Landscape:
- Major trends and growth projections by region and country
- Key winning strategies followed by the competitors
- Who are the key competitors in this industry?
- What shall be the potential of this industry over the forecast tenure?
- What are the factors propelling the demand for the Action Figures and Statues?
- What are the opportunities that shall aid in significant proliferation of the market growth?
- What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures and Statues?
- How has the covid-19 impacted the growth of the market?
- Has the supply chain disruption caused changes in the entire value chain?
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