Hip Implant Market Size And Forecast

Hip Implant Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2021 to 2028.

Increased demand for hip arthroplasty/replacement surgical operations, a growing senior population, and a high frequency of lower extremity disorders like osteoarthritis (OA), osteoporosis, and hip illnesses are all driving the market forward. The Global Hip Implant Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Hip Implant Market Definition

Hip implants are medical devices that help people with arthritis and other hip disorders or accidents regain mobility and decrease pain. Every hip implant has advantages and disadvantages. Every hip implant system has its own set of design characteristics, including size, form, material, and measurements. Furthermore, different patients may have varying outcomes from the same hip implant system. The device design features, surgeon experience, and installation technique, as well as individual patient parameters such as age, sex, weight, activity level, and overall health, can all influence the outcome and lifetime of a hip implant.

Hip replacement surgery, commonly known as hip arthroplasty, is a surgical treatment for treating hip pain. Artificial implants are used to replace components of the hip joint. A ball (at the head of the femur, commonly known as the thigh bone) and a socket make up the hip joint (in the pelvis, also known as the hip bone). One or both portions of the hip are replaced during hip replacement surgery. The procedure’s purpose is to let you return to regular activities and exercise with less pain.

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The type of hip replacement may require is determined by a number of factors. When planning your care, your doctor will take into account the following factors. Hip Replacement (Total and Partial) Both the ball and the socket are replaced during total hip replacement (total hip arthroplasty). Only the ball of the hip is replaced in a partial hip replacement (the head of the femur). Hip Replacement with Minimal Invasive Surgery The goal of minimally invasive hip replacement is to keep the impact of surgery on healthy tissues like muscles and blood arteries to a minimum. While an anterior hip replacement has been touted as a minimally invasive procedure, orthopedic surgeons today use minimally invasive procedures to access the hip with all surgical approaches. Your surgeon will talk to you about which strategy will give you the best results.

Global Hip Implant Market Overview

The prevalence of cheap healthcare facilities in developed countries, as well as technical breakthroughs in non-invasive surgeries, is projected to propel the industry forward. Non-metal materials such as polymer and ceramic, are expected to assist solve issues with traditional devices, such as increased metallic ions in the bloodstream of patients and implant deterioration with time. Newer operating techniques have reduced the length of stay in the hospital after a full hip replacement to less than four days. With the growing need for tailored implants for both men and women, the market for hip arthroplasty implants is expected to grow. Because each patient’s anatomy is different, implant sizes vary. For patient-specific implants, many manufacturers are focused on 3D printing technology.

When 3-D printing technology was first used to make orthopedic implants, it resulted in a massive increase in the number of customized implants. Many orthopedic companies are creating cutting-edge technology that can be used to provide technically sophisticated replacement prostheses, which will help the market. The number of people undergoing replacement surgery is rapidly increasing. However, problems associated with the implant’s use are a major factor that would most likely slow the global market’s growth in the next years.

Patients suffered serious side effects as a result of the device faults, according to the claims. Allergic reactions, metal poisoning, infection, and bone loss are all possible side effects. Due to the failure of their replacement devices, major businesses like Zimmer Biomet have been hit with a slew of individual and class action lawsuits. Furthermore, the rising number of younger people suffering from degenerative diseases is predicted to boost income during the projection period. Furthermore, a boost in the number of robot-assisted operations has increased the success rate of minimally invasive surgeries, which is expected to generate profitable growth opportunities for this market in the near future.

Global Hip Implant Market Segmentation Analysis

The Global Hip Implant Market is segmented on the basis of Product, Application, and Geography.

Hip Implant Market, By Product

• Total Replacement Implant
• Partial Replacement Implant
• Hip Resurfacing Implant
• Revision Replacement Implant

Based on Product, the market is segmented into Total Replacement Implant, Partial Replacement Implant, Hip Resurfacing Implant, and Revision Replacement Implant. Because of the rise in total hip arthroplasty, the total replacement sector is expected to dominate the market. Researchers predicted that the total annual count of total hip arthroplasty replacements will grow. This, together with the fast adoption of robots for THA (Total Hip Arthroplasty) surgeries, is expected to propel the total segment forward during the projected period.

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Hip Implant Market, By Application

• Hospitals
• Orthopedic Clinics
• Ambulatory Surgical Centers

Based on Application, the market is segmented into Hospitals, Orthopedic Clinics, and Ambulatory Surgical Centers. During the forecast period, the hospitals & surgery centers sector dominated the market in terms of revenue. This is due to the rise in hospital surgeries, attractive health reimbursement, and the growing deployment of robots for replacement surgery. The orthopedic clinic’s segment is expected to grow over the forecast period, owing to an increase in the number of orthopedic surgeons and outpatient replacement surgeries.

Hip Implant Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, the Global Hip Implant Market is classified into North America, Europe, Asia Pacific, and Rest of the world.

Key Players

The “Global Hip Implant Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are DePuy Synthes, Smith & Nephew, Stryker, ConforMIS, Corentec, Corin, Elite Surgical, Evolutis, FH ORTHOPEDICS, Integra Life Sciences, Lima Corporate, Medacta, and Shanghai MicroPort Orthopedics.

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