Hip Reconstruction Market Size by Segments, Share, Regulatory, Reimbursement, Procedures and Forecast to 2033
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Hip Reconstruction Market Report Overview
The hip reconstruction market size was valued at $7.90 billion in 2023. The market is forecast to grow at a CAGR of more than 3% during 2023 and 2033. Hip reconstruction or hip replacement is a procedure that involves the replacement of the damaged or diseased parts of the hip joint, especially in patients with osteoarthritis (OA) and rheumatoid arthritis (RA), as well as in cases of fractures.
Hip Reconstruction Market Outlook, 2022-2033 ($ Billion)
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The hip reconstruction market research report explains the market behavior, which will help identify quantitative market trends within the orthopedic devices therapeutic area. The report has extensively covered pipeline products and technologies, which will help in identifying companies with the most robust pipeline. This, in turn, will assist in predictive analysis for designing in-licensing and out-licensing strategies. Furthermore, the model discusses in detail the impact of COVID-19 on the hip reconstruction market for the year 2020 and beyond.
Market Size (2023) | $7.90 billion |
CAGR (2023-2033) | >3% |
Forecast Period | 2023-2033 |
Historical Period | 2015-2022 |
Key Regions | · North America
· Europe · Asia Pacific · South Central America · Middle East and Africa |
Key Segments | · Hip Resurfacing
· Partial Hip Replacement · Primary Hip Replacement · Revision Hip Replacement |
Leading Companies | · Zimmer Biomet Holdings Inc
· DePuy Synthes Inc · Stryker Corp · Smith & Nephew Plc · B. Braun Melsungen AG |
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Hip Reconstruction Market Dynamics
The increasing prevalence of musculoskeletal diseases and conditions such as osteoarthritis (OA) and rheumatoid arthritis (RA), and the alarming number of trauma cases worldwide have increased the demand for hip replacement implants globally. The development of new products for the ease of the patients also acts as a reasonable market driver.
The hip replacement market is highly mature after continuous improvement in implant technology. While medical innovations catering to young, physically active patients have expanded the adoption of joint replacement to treat degenerative hip diseases, overall market growth is moderate as procedure volume growth is largely offset by high healthcare expenses.
Hip Reconstruction Market Segments
The hip reconstruction market segments include hip resurfacing, partial hip replacement, primary hip replacement, and revision hip replacement. The primary hip replacement segment accounted for the highest share of the hip reconstruction market in 2023. The segment is further classified into cemented and cementless hip replacement and hybrid hip replacement.
The adoption of different implant types differs between regional markets due to cost and clinical outcomes. GlobalData expects continued adoption and growth of cemented implants in emerging markets, while the cemented market is expected to decrease in North America and Europe through the forecast period in favor of cementless and hybrid options.
Hip Reconstruction Market Analysis by Segments, 2023 (%)
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Hip Reconstruction Market Segmentation by Regions
The key regions in the hip reconstruction market are North America, Europe, Asia Pacific, South Central America, and the Middle East and Africa. North America had the highest share of the hip reconstruction market in 2023 primarily driven by the rise in the aging population and the desire among these patients to maintain an active, productive lifestyle.
Hip Reconstruction Market Analysis by Regions, 2023 (%)
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Hip Reconstruction Market - Competitive Landscape
A few of the leading companies in the hip reconstruction market are Zimmer Biomet Holdings Inc., DePuy Synthes Inc., Stryker Corp, Smith & Nephew Plc, and B. Braun Melsungen AG, among others. Zimmer Biomet Holdings Inc. was the highest revenue generator for the hip reconstruction market in 2023.
Hip Reconstruction Market Analysis by Companies, 2023 (%)
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Segments Covered in the Report
Hip Reconstruction Segments Outlook (Value, $ Million, 2015-2033)
- Hip Resurfacing
- Hemi Hip Resurfacing
- Total Hip Resurfacing
- Partial Hip Replacement
- Bipolar Partial Hip Replacement
- One-piece Endoprosthesis Partial Hip Replacement
- Unipolar Partial Hip Replacement
- Primary Hip Replacement
- Primary Cemented Hip Replacement
- Primary Cementless Hip Replacement
- Primary Hybrid Hip Replacement
- Revision Hip Replacement
- Acetabular Component Revision Replacements
- Complete Hip Revision Replacement
- Femoral Stem Revision Replacement
- Other Hip Revision (Any Combination of the Femoral Head or Acetabular Liner Components)
Hip Reconstruction Regional Outlook (Value, $ Million, 2015-2033)
- North America
- Europe
- Asia Pacific
- South Central America
- Middle East and Africa
Key Inclusions
Currently marketed Hip Reconstruction Devices and evolving competitive landscape –
– Insightful review of the key industry trends.
– Annualized total Hip Reconstruction Devices market revenue by segment and market outlooks from 2015-2033.
– Granular data on total procedures, units, average selling prices, and market values by segment.
Global, Regional, and Country level market specific insights –
– Qualitative market-specific information is available with global trends further broken down into regional trends. In addition, GlobalData analysts provide unique country-specific insights on the market.
– SWOT analysis for the Hip Reconstruction Devices market.
– Competitive dynamics insights and trends provided for the Hip Reconstruction Devices market.
Drive the understanding of the market by getting the veritable big picture including an overview of the healthcare system. In addition, the Market Access segment allows you to delve deeper into market dynamics with information on reimbursement policies and the regulatory landscape.
– Country-specific overview of the healthcare system.
– Country-specific reimbursement policies.
– Country-specific medtech regulatory landscape.
Robust methodologies and sources enable the model to provide an extensive and accurate overview of the market. Demand and supply-side primary sources are integrated within the syndicated models, including Key Opinion Leaders. In addition, real-world data sources are leveraged to determine market trends; these include government procedure databases, hospital purchasing databases, and proprietary online databases.
Companies covered – Zimmer Biomet Holdings Inc, Johnson & Johnson, Stryker Corp, Smith & Nephew Plc, B. Braun Melsungen AG, EQT Partners AB, MicroPort Scientific Corp, Medacta Group SA, Corin Orthopaedics Holdings Ltd, Exactech Inc, Kyocera Medical Technologies Inc, Baumer SA, Waldemar Link GmbH & Co KG, Amplitude Surgical SA, United Orthopedic Corp, Corentec Co Ltd, and Others.
Countries covered: United States, United Kingdom, Germany, France, Italy, Spain, Brazil, China, India, Russia, Japan, Australia, Canada, Mexico, South Korea, Denmark, Ireland, Netherlands, New Zealand, South Africa, Sweden, Switzerland, Austria, Belgium, Finland, Israel, Norway, Poland, Portugal, Taiwan, Czech Republic, Greece, Hungary, Turkey, Egypt, Saudi Arabia, United Arab Emirates, Argentina and Chile
Scope
This market model gives important, expert insight you won’t find in any other source. The model illustrates qualitative and quantitative trends within the specified market. This model is required reading for –
- CMO executives who must have a deep understanding of the Hip Reconstruction marketplace to make strategic planning and investment decisions.
- Sourcing and procurement executives must understand crucial components of the supply base to make decisions about supplier selection and management.
- Private equity investors who need a deeper understanding of the market to identify and value potential investment targets.
Reasons to Buy
- Understand the impact of COVID-19 on the hip reconstruction market.
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline.
- Develop business strategies by understanding the trends shaping and driving the Hip reconstruction market.
- Generate revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the hip reconstruction market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company’s share of market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counterstrategies to gain a competitive advantage.
- Track device sales in the global and country-specific hip reconstruction market from 2015-2033.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.
DePuy Synthes Inc
Stryker Corp
Smith & Nephew Plc
B. Braun Melsungen AG
Limacorporate SpA
MicroPort Scientific Corp
Medacta Group SA
Corin Group Ltd
Exactech Inc
Kyocera Medical Technologies Inc
Baumer SA
Waldemar Link GmbH & Co KG
Amplitude SA S
United Orthopedic Corp
Corentec Co Ltd
Others
Frequently asked questions
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What was the hip reconstruction market size in 2023?
The hip reconstruction market size was valued at $7.90 billion in 2023.
-
What will the hip reconstruction market CAGR be during the forecast period?
The hip reconstruction market is forecast to grow at a CAGR of more than 3% during 2023 and 2033.
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Which region held the largest share of the hip reconstruction market in 2023?
North America held the largest share of the hip reconstruction market in 2023.
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Which segment held the largest share of the hip reconstruction market in 2023?
The primary hip replacement segment dominated the hip reconstruction market in 2023.
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Which are the major companies operating in the hip reconstruction market?
Some of the leading companies in the hip reconstruction market are Zimmer Biomet Holdings Inc., DePuy Synthes Inc., Stryker Corp, Smith & Nephew Plc, and B. Braun Melsungen AG among others.
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