Hip Replacement Market Size & Share Analysis

1. Global Hip Replacement Market Analysis Market Size and Growth The global hip replacement market reached $7.72 billion in 2023 and is projected to grow from $8.05 billion in 2024 to $11.59 billion by 2032, with a compound annual growth rate (CAGR) of 4.7%. Regional Leadership North America dominates the market, holding a 34.33% share in 2023. This dominance stems from:  High volume of hip arthroplasty procedures  Strategic collaborations between major players  Favorable health reimbursement policies Key Market Drivers  Rising osteoarthritis cases, particularly among older populations  Growing diagnosis and treatment rates in emerging markets  Improved health coverage and reimbursement reforms  Medicare coverage for most hip replacement procedures in the U.S. Procedure Types The market segments into three categories: 1.Total Hip Replacement 2.Partial Hip Replacement 3.Revision & Hip Resurfacing Total hip replacement leads the market, driven by increasing arthroplasty procedures and adoption of robotic assistance. Future Demand Projections Annual total hip arthroplasty procedures in the U.S. are expected to increase:  498,000 replacements by 2020 (34% increase)  652,000 replacements by 2025 (75% increase)  850,000 replacements by 2030 (129% increase)  1,429,000 replacements by 2040 (284% increase) Market Leaders Three companies control over half the global market:  Zimmer Biomet  DePuy Synthes  Stryker

2. Recent Developments  February 2024: Zimmer Biomet received FDA approval for Rosa Shoulder System for robot- assisted surgeries  May 2023: Stryker launched Ortho Q Guidance system for hip and knee procedures  August 2023: Smith Nephew launched OR3O Dual Mobility System in India Report- Fortune Business Insights - Hip Replacement Market Size, Share | Growth Analysis [2032] https://www.fortunebusinessinsights.com/industry-reports/hip-replacement-implants-market- 100247