Global Market Study on Hip Replacement: North America to
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Global hip replacement market is estimated to be valued at us 9 1 bn mn by 2024

Global Market Study on Hip Replacement: North America to

Register a CAGR of 4.3% Between 2016 and 2024


Global hip replacement market is estimated to be valued at us 9 1 bn mn by 2024

P e r s i s t e n c e M a r k e t R e s e a r c h

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Global Hip Replacement Market 2016-2024


Global hip replacement market is estimated to be valued at us 9 1 bn mn by 2024

P e r s i s t e n c e M a r k e t R e s e a r c h

Report Media Releases

Global Hip Replacement Market to Reach US$ 9.1 Bn by

2024 End; Developing Economies Expected to Fuel

Revenue Growth

In a new report titled “Hip Replacement Market: Global Industry Analysis and Forecast 2016

- 2024”, Persistence Market Research analyzes the performance of the global hip

replacement market over an eight-year period and provides insights on the key factors and

trends likely to influence the market during the forecast period (2016 – 2024). The global hip

replacement market is expected to expand at a CAGR of 4.1% during the forecast period. In

this report, the global hip replacement market is tracked in terms of value and is calibrated

to obtain market revenue estimates.

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Rising incidence of arthritis, hip fractures, hip bone infection, product line extensions from

manufacturers, increasing innovation, concern about patient safety among clinicians, and

development of new hip implants coupled with minimally invasive surgeries and 3D printing

technology are major factors driving the growth of the global hip replacement market. Other

trends impacting market growth are increasing awareness regarding new hip implants for

securement among physicians and patients and rising incidence of hip fractures, trauma, and

injuries. Hip replacement implant manufacturers in the global hip replacement market are

focusing on introducing varied products with enhanced safety and application to increase

market share.

Globally patients are facing many distinct challenges including rising implant costs, healthcare

reform implementation, and reimbursement rates. Lack of affordability due to high cost

structure and access to new custom hip implant procedures in Asian countries is a prominent

factor hampering growth of the hip replacement market in the region.

According to FDA, from 2002 to 2013, around 578 hip implant products were recalled, which

involves metal-on-metal hips. FDA proposed that the high probability of faulty or less

effective devices received by patients can cause serious adverse health consequences or

death. This may also act as a restraint to the growth of the global hip replacement market.

The global hip replacement market is segmented based on product type, component type,

and end users. On the basis of product type, the market has been segmented into total hip

replacement implant, partial hip replacement implant, hip resurfacing implant, and revision

Global Hip Replacement Market 2016-2024


Global hip replacement market is estimated to be valued at us 9 1 bn mn by 2024

P e r s i s t e n c e M a r k e t R e s e a r c h

hip replacement implant. By product type, the total hip replacement implant segment is

expected to remain the largest segment, registering a CAGR of 4.7% in terms of value over

the forecast period. A wider application in various healthcare conditions and easier

availability is expected to contribute to its growing popularity. The partial hip replacement

implant is also expected to emerge as the most preferred product type for both patients and

physicians globally over the forecast period.

On the basis of region, the global hip replacement market has been segmented into North

America, Latin America, Europe, Asia Pacific, and MEA. This report assesses trends driving

each market segment and offers analysis and insights about the potential of hip replacement

in specific regions. North America is estimated to dominate the global hip replacement

market with maximum value share of the overall market by the end of 2016. The North

America hip replacement market is projected to increase at a CAGR of 4.3% through 2024.

Presence of key regional players, a strong distribution network, and developed healthcare

infrastructure are the key factors driving the growth of the market in North America.

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Competitive landscape

Some key companies covered in this report include Stryker Corporation, Smith & Nephew, B.

Braun Melsungen AG, DJO Global, Exactech Inc., MicroPort Scientific Corporation, Depuy

Synthes (J&J) and Zimmer Biomet. These companies are primarily focused on enhancing their

market share by entering new markets and through the introduction of innovative and cost-

effective hip implants in order to gain higher market share and to strengthen their respective

position in the global hip replacement market.

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Global Hip Replacement Market 2016-2024


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