Hip Replacement Market Projections: $8.6 Billion Valuation by 2031 with a Steady 4% CAGR

WILMINGTON, DELAWARE, UNITED STATES, June 19, 2024 /EINPresswire.com/ -- Allied Market Research has recently unveiled a research study titled "Hip Replacement Market Outlook and Forecast 2021-2031." This report delivers a comprehensive analysis of market risks, spotlights opportunities, and provides essential support for strategic and tactical decision-making spanning from 2021 to 2031. The study categorizes the market by pivotal regions propelling its growth and commercialization. Moreover, the report encompasses vital insights into market research and development, growth catalysts, and the evolving investment landscape within Hip Replacement. It also includes profiles of key industry players, such as Kyocera Corporation, Stryker Corporation, Integra LifeSciences, MicroPort Scientific Corporation, Smith & Nephew PLC, Medacta International, Conformis Inc, Zimmer Biomet Holdings Inc, Merete, Johnson & Johnson, B. Braun Melsungen AG, Gruppo Bioimpianti s.r.l., Globus Medical Inc, Corin Group PLC, Exactech Inc, Colfax Inc

Read More: https://www.alliedmarketresearch.com/hip-replacement-market-A17084

Hip Replacement Market Statistics: The global hip replacement market was valued at $5.9 billion in 2021, and is projected to reach $8.6 billion by 2031, growing at a CAGR of 4% from 2022 to 2031.

Determinants of growth-

Rise in R&D activities for advancements in hip replacement surgeries and increase in product launches & product approvals drive the growth of the global hip replacement market. Moreover, integration of advanced navigation system and robotics with surgical operations has supplemented the growth even more. Simultaneously, surge in number of surgical procedures and spike in access to health care facilities have created lucrative opportunities in the industry.

Market growth factors for the Hip Replacement Market include:

Aging Population: The demographic shift towards an aging population leads to a higher incidence of hip-related conditions such as osteoarthritis and hip fractures, driving the demand for hip replacement surgeries.

Technological Advancements: Continuous innovations in hip replacement implants, surgical techniques, and materials enhance the efficacy, durability, and success rates of hip replacement procedures, attracting more patients and surgeons towards this treatment option.

Rising Prevalence of Osteoarthritis: Osteoarthritis is one of the primary indications for hip replacement surgeries. The increasing prevalence of osteoarthritis, attributed to factors like sedentary lifestyles and obesity, contributes significantly to the growth of the hip replacement market.

Growing Demand for Minimally Invasive Procedures: The preference for minimally invasive hip replacement surgeries is rising due to advantages such as shorter hospital stays, faster recovery times, and reduced post-operative pain. This trend boosts market growth as patients seek less invasive treatment options.

Improving Healthcare Infrastructure: The expansion of healthcare infrastructure, especially in emerging economies, facilitates access to advanced medical treatments like hip replacement surgeries, driving market growth by catering to previously underserved patient populations.

Health Awareness and Education: Increasing awareness among individuals about the benefits of hip replacement surgery in improving mobility, reducing pain, and enhancing overall quality of life encourages more patients to consider this treatment option, thereby expanding the market.

Reimbursement Policies: Favorable reimbursement policies and insurance coverage for hip replacement surgeries in many countries make the procedure more accessible and affordable for patients, further stimulating market growth.

Lifestyle Changes and Physical Activity: Growing emphasis on physical fitness and active lifestyles prompts individuals to seek effective solutions for hip-related issues, contributing to the increasing demand for hip replacement procedures.

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The segments and sub-section of Hip Replacement Market is shown below:

By Procedure:

Total Hip Replacement

Partial Hip Replacement

Revision Hip Replacement

Hip Resurfacing

By Material:

Metal-on-Metal

Metal-on-Polyethylene

Ceramic-on-Polyethylene

Ceramic-on-Metal

Ceramic-on-Ceramic

By End User:

Hospitals

Orthopedic Clinics

Ambulatory Surgery Centers

Key players in the industry-

Colfax Inc

Conformis Inc

B. Braun Melsungen AG

Gruppo Bioimpianti s.r.l.

Stryker Corporation

Johnson & Johnson

Zimmer Biomet Holdings Inc

Kyocera Corporation

Corin Group PLC

Exactech Inc

Globus Medical Inc

Integra LifeSciences

Medacta International

Merete

MicroPort Scientific Corporation

Smith & Nephew PLC

If opting for the Global version of Hip Replacement; then below country analysis would be included:

– North America (USA, Canada and Mexico)

– Europe (Germany, France, the United Kingdom, Netherlands, Italy, Nordic Nations, Spain, Switzerland and Rest of Europe)

– Asia-Pacific (China, Japan, Australia, New Zealand, South Korea, India, Southeast Asia and Rest of APAC)

– South America (Brazil, Argentina, Chile, Colombia, Rest of countries etc.)

– Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, Egypt, Turkey, Nigeria, South Africa, Rest of MEA)

Key Questions Answered in the Intelligent Study

What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?

Introduction about Hip Replacement

Hip Replacement Market Size (Sales) Market Share by Type (Product Category)

Hip Replacement Market by Application/End Users

Hip Replacement (Volume) and Market Share Comparison by Applications

Global Hip Replacement and Growth Rate (2021-2030)

Hip Replacement Competition by Players/Suppliers, Region, Type, and Application

Hip Replacement (Volume, Value, and Sales Price) table defined for each geographic region defined.

Hip Replacement Players/Suppliers Profiles and Sales Data

Key Raw Materials Analysis & Price Trends

Supply Chain, Sourcing Strategy and Downstream Buyers, Industrial Chain Analysis and view more in complete table of Contents

Procure Complete Report (220+ Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.alliedmarketresearch.com/purchase-enquiry/A17084

Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, LATAM, Europe, or Southeast Asia.

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