The Hip Replacement Global Market Report 2023, provides comprehensive information on the hip replacement market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Hip Replacement Global Market Report 2023, the market size is expected to grow from $6.67 billion in 2022 to $6.98 billion in 2023 at a compound annual growth rate (CAGR) of 4.61%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global hip replacement market size is expected to reach $8.50 billion in 2027 at a CAGR of 5.07%.
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Technological advancements are a key trend gaining popularity in the hip replacement market. Companies operating in the hip replacement market are adopting new technologies to sustain their position in the market. For instance, in July 2022, Enovis, a US-based medical technology company, launched AR technology named “ARVIS” designed to improve both total hip and knee replacement surgery. This technology provides surgeons with better information and an enhanced surgical experience without the need for obtrusive and unnecessary equipment.
The hip replacement market is segmented:
1) By Procedure: Total Hip Replacement, Partial Hip Replacement, Revision Hip Replacement, Hip Resurfacing
2) By Material: Metal-On-Metal, Metal-On-Polyethylene, Ceramic-On-Polyethylene, Ceramic-On-Metal, Ceramic-On-Ceramic
3) By End-User: Hospitals, Speciality Clinics, Ambulatory Surgery CentersNorth America was the largest region in the hip replacement market in 2022.
Major Players:
- Johnson & Johnson
- Stryker Corporation
- Smith & Nephew PLC
- B. Braun Melsungen AG
- ConforMIS Inc
The table of contents in TBRC’s hip replacement market report includes:
1. Executive Summary
2. Hip Replacement Market Characteristics
3. Hip Replacement Market Trends And Strategies
4. Hip Replacement Market – Macro Economic Scenario
5. Hip Replacement Market Size And Growth
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26. Africa Hip Replacement Market
27. Hip Replacement Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hip Replacement Market
29. Hip Replacement Market Future Outlook and Potential Analysis
30. Appendix
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