Tag: hip replacement market

Hip Replacement Market size is expected to hit around US$ 8.87 Billion by 2030, at CAGR 4.22% Growth

Renub Research has published a document titled “Global Hip Replacement Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2028,” which includes market share statistics and a thorough enterprise analysis. This report focuses on the Global Hip Replacement Market’s competition, geographic distribution, and growth capability. 

Hip Replacement Market is expected to increase at a CAGR of 5.46% between 2023 and 2028

The need for hip replacement arises ordinarily from debilitating conditions such as osteoarthritis, rheumatoid arthritis, or fractures, wherein the hip joint’s capability is compromised. Chronic pain, restrained mobility, and dwindled quality of lifestyles set off individuals to consider hip replacement procedures. This system entails changing damaged or diseased hip joints with synthetic implants, assuaging pain, and restoring function. The demand for hip replacement tactics grows as the older populace increases and musculoskeletal issues persist. Advanced surgical techniques and prosthetic materials contribute to successful effects, emphasizing hip replacements’ crucial role in enhancing mobility and relieving pain for many individuals.

Total Hip Replacement (THR) increases demand for early intervention and advanced surgical strategies. Partial Hip Replacement (PHR) indicates promise, particularly for younger patients, making the most of material and technique improvements. Material trends favor Metal-on-Polyethylene, while Ceramic-on-Polyethylene and Ceramic-on-Ceramic benefit traction. Further, North America dominates, pushed by widespread healthcare spending and superior infrastructure, reflecting consistent growth and a choice for minimally invasive strategies in a growing old population. So, the global hip replacement market will increase by around US$ 9 Billion by 2028.

Request a free sample copy of the report: https://www.renub.com/request-sample-page.php?gturl=hip-replacement-market-global-forecast-p.php

Advancements in implant materials, surgical strategies, and prosthetic designs contribute to superior outcomes, promoting the market’s expansion. Technological improvements, consisting of minimally invasive surgeries, enhance patients’ restoration instances. Moreover, proactive authorities’ tasks, increased healthcare access, and a surge in affected persons focus pressure on marketplace dynamics. With a range of hip replacement merchandise, including implants and gadgets, the marketplace is poised for sustained development in response to evolving healthcare needs.

Total Hip Replacement (THR) segments have asserted dominance in the hip replacement market

A surge in demand for early intervention and advancements in surgical strategies make THR the preferred option for addressing hip joint problems. The procedure’s efficacy in restoring mobility and enhancing patients’ lifestyles has propelled its sizeable adoption. Also, a worldwide population that is getting older and faces a better prevalence of hip-related problems further fuels THR’s market dominance. As healthcare specializes in improved results and patient outcomes, the comprehensive benefits offered by Total Hip Replacement solidify its primary function in the hip replacement market.

Product – Hip Replacement Market breakup into three viewpoint

1. Total HIP Replacement

2. Partial HIP Replacement

3. Revision HIP Replacement

Hospitals and the surgical procedure section dominate the hip replacement market due to the nature of hip replacement tactics requiring specialized medical facilities

The complexity of surgeries necessitates superior infrastructure, skilled healthcare professionals, and stringent post-operative care. Hospitals, prepared with state-of-the-art operating rooms and rehabilitation facilities, have become the premium hubs for those interventions. Surgeons and healthcare teams are pivotal in ensuring good outcomes, and patients frequently select respectable hospitals for such critical approaches. This dominance is similarly accentuated by emphasizing healthcare, patient protection, and comprehensive support structures in health facility settings, making them the essential players in the hip substitute market.

End-User – Hip Replacement Market breaks into three viewpoints

  1. Hospitals and surgery centers
  2. Orthopedic clinics 
  3. Others

The Asia-Pacific region is poised for an increased boom in the hip replacement market

A rising, growing older population, coupled with increasing awareness of joint disorders, fuels the demand for hip alternative techniques. Economic development and improved healthcare infrastructure contribute to the area’s increasing market. Advancements in medical technology and a surge in disposable incomes drive accessibility to hip replacement surgeries. Also, a lifestyle shift and a developing preference for improved healthcare services align with the increasing adoption of hip replacement approaches. These dynamics function in the Asia-Pacific region for giant and sustained growth in the hip replacement market over the forecast duration.

Region – The hip Replacement Market is broken up into five viewpoints

1. North America

2. Europe

3. Asia-Pacific

4. South America

5. Middle East & Africa

Competitive Landscape

The global market for hip replacement is highly competitive, with companies such as Smith & Nephew PLC, Johnson & Johnson, Conformis Inc, Integra Lifesciences Corporation, MicroPort Scientific Corporation, Zimmer Biomet, Stryker, and Braun Melsungen AG.

All key players have been covered from 3 viewpoints

  1. Overview
  2. Strategy
  3. Financial Insight

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Top hip Replacement Companies Analysis

  1. Zimmer Biomet
  2. Stryker
  3. Smith & Nephew PLC
  4. Johnson & Johnson
  5. ConformisInc
  6. Integra Lifesciences Corporation
  7. MicroPort Scientific Corporation
  8. B. Braun Melsungen AG

About the Company: 

Renub Research is a Market Research and Information Analysis company with more than 14 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 7000 syndicated reports and worked on more than 500 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

Media Contact:

Company Name: Renub Research

Contact Person: Rajat Gupta, Marketing Manager

Phone No: +1-478-202-3244 | +91-120-421-9822 (IND)

Address: 225 Kristie Ln, Roswell, GA 30076

Email: info@renub.com

LinkedIn: https://linkedin.com/company/renub-research

Website: www.renub.com

Hip Replacement Market, Size | Growth Forecast | 2028

Renub Research recently released a report titled “Hip Replacement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″ providing a detailed industry analysis that includes market share insights. In addition, the report covers research on competitors and regions and current advancements in the Hip Replacement Market. The Hip Replacement Industry shall expand at a CAGR of nearly 5.46%.from 2022 to 208.

Hip replacement is a medical intervention that involves the substitution of a damaged or diseased hip joint with a prosthetic joint composed of materials such as metal, plastics, or ceramic to alleviate discomfort, enhance mobility, and rehabilitate the normal function of the hip joint. Individuals may require hip replacement surgery due to various reasons, such as prevalent conditions like osteoarthritis, rheumatoid arthritis, avascular necrosis, bone tumours, and genetic bone disorders, as well as factors like hip joint injuries, previous surgeries, and congenital hip conditions. For instance, Globally, osteoarthritis affects 528 million people and results in 19 million years lived with disability, as reported by the World Health Organization (WHO).

As the population ages conditions that require hip replacement surgery increase. As per the “World Social Report 2023” by the United Nations, the population of people aged 65 and above has reached about 761 million, and it shall outdo 1.6 billion by 2050, more than double the present figure. In addition, the availability of better healthcare facilities, including hospitals and clinics with specialized orthopedic departments, has increased access to hip replacement surgeries for patients. Furthermore, the demand for minimally invasive procedures, which are less painful and have a shorter recovery time, has also contributed to the rise of the hip replacement market.

However, the hip replacement market is subject to limitations such as the high cost associated with the procedure, potential complications, implant failure risks, limited healthcare access in certain areas, and the likelihood of revision surgeries due to wear and tear or infection.

Total hip replacement is dominant in the hip replacement market due to its high success rates and effectiveness in treating various hip-related conditions

Total hip replacement is a popular option among patients and healthcare providers due to its high success rate of over 95% and effectiveness in treating various hip-related conditions, such as osteoarthritis, rheumatoid arthritis, avascular necrosis, hip fractures, and bone tumours. Many patients report significant improvements in pain relief, mobility, and overall quality of life following total hip replacement surgery, contributing to high patient satisfaction. Total hip replacement is a well-established procedure that has been performed for several decades, and experienced surgeons have refined their skills, leading to improved patient outcomes.

The significant rise of orthopedic clinics is due to the presence of proficient healthcare professionals and well-established infrastructure

The expansion of orthopaedic clinics in the hip replacement market is due to various factors, including the growing incidence of hip-related conditions, increasing awareness and desire for joint replacement surgeries, progressions in medical technology, advancements in healthcare infrastructure, and the provision of tailored orthopaedic services. Furthermore, orthopaedic clinics offer individualized treatment plans and specialized care to patients, leading to increased patient satisfaction and positive recommendations, which further contributes to the growth of orthopaedic clinics in the hip replacement market.

Request a free sample copy of the report: :https://www.renub.com/request-sample-page.php?gturl=hip-replacement-market-global-forecast-p.php

Asia-Pacific is predicted to grow the fastest in the Hip Replacement Market

The Asia-Pacific region’s growth in the hip replacement market can be due to several factors, such as the increasing geriatric population, rising awareness, and demand for joint replacement surgeries, improving healthcare infrastructure, and advancements in medical technology. Additionally, the region’s lower cost of living and lower labour costs has resulted in the establishment of many medical tourism destinations, attracting patients from around the world seeking cost-effective hip replacement surgeries. Furthermore, government initiatives to promote medical tourism and investments in healthcare infrastructure have also contributed to the rise of Asia-Pacific in the hip replacement market.

Competitive Landscape.

The hip replacement market is highly competitive and includes major players such as Smith & Nephew PLC, Johnson & Johnson, ConformisInc, Integra Lifesciences Corporation, MicroPort Scientific Corporation, Zimmer Biomet, Stryker, and Braun Melsungen AG. These companies continuously engage in product innovation, technological advancements, and mergers and acquisitions to gain a larger market share.

Market Summary:

  • Product – The Report covers Hip Replacement Market, by product in 3 viewpoints (total hip replacement, partial hip replacement, and revision and hip resurfacing).
  • End-User – Hip Replacement Market breakup in 3 viewpoints (hospitals and surgery centres, orthopaedic clinics, and others).
  • Region – Renub Research report covers the Hip Replacement Market by region in 5 viewpoints (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa).
  • Key Players – All the major players have been covered from 4 Viewpoints (Overview, Strategy, Merger/Acquisition, and Financial Insight) Smith & Nephew PLC, Johnson & Johnson, ConformisInc, Integra Lifesciences Corporation, MicroPort Scientific Corporation, Zimmer Biomet, Stryker, and Braun Melsungen AG.

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About the Company: 

Renub Research is a Market Research and Information Analysis company with more than 14 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 7000 syndicated reports and worked on more than 500 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

Media Contact:

Company Name: Renub Research

Contact Person: Rajat Gupta, Marketing Manager

Phone No: +1-478-202-3244 | +91-120-421-9822 (IND)

Address: 225 Kristie Ln, Roswell, GA 30076

Email: info@renub.com

LinkedIn: https://linkedin.com/company/renub-research

Web: www.renub.com