Hip Reconstruction Devices Market Analysis By Indication (Osteoarthritis, Rheumatoid Arthritis, Trauma), By Product (Primary Hip Reconstruction Devices, Others), By Material (Metal-on-metal, Metal-on-polyethylene, Others), By End User & Region - Glob
Global demand for hip reconstruction devices is increasing due to the growing rate of the elderly population globally. Hip fractures, osteoarthritis, and the gradual deterioration of joints in older persons have all increased the need for hip reconstruction, which is having a substantial impact on the market for hip reconstruction devices.
As per the latest industry analysis by Fact.MR, a market research and competitive intelligence provider, the global hip reconstruction devices market is valued at US$ 8.21 billion in 2023 and is predicted to reach US$ 12.15 billion by 2033. Technological advancements, growing awareness about hip reconstruction surgeries, and increasing cases of accidents are boosting the sales of hip reconstruction devices.
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Hip replacement is a surgical technique in which a prosthetic implant, or hip prosthesis, is used to replace the hip joint. The hip implants are produced out of metal, ceramic and plastic. The rising rate of surgical procedures and the increasing cases of hip injuries due to sports- and traffic-related accidents are the main factors driving the growth of the worldwide hip reconstruction devices market.
How Rapidly Increasing Adoption of Customized Hip Implants, Step Up the sales of Hip Reconstruction Devices?
As the need for specifically created implants for both men and women grows, so does the market for orthopaedic replacement devices. Because each patient's anatomy is unique, implants come in a variety of sizes. Several businesses are focusing on 3D printing technology for patient-specific implants.
The market for hip reconstruction devices is growing as a result of the increasing use of 3D printing technology in the production of orthopedic implants. 3D printing technology can decrease radiation exposure, speed up operations, and increase surgical effectiveness.
Key Takeaways from Market Study
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Recent Market Developments
Competitive Landscape
Global leaders in terms of market revenue are Zimmer Biomet, DePuy Synthes, and Stryker Corporation. Zimmer Biomet holds the largest market share due to increasing sales of its hip implants. On the other side, DePuy Synthes and Stryker are in the top positions as a result of their strong sales forces, superior local supply capabilities, and attention to both organic and inorganic growth strategies.
Key Companies
Segmentation of Hip Reconstruction Devices Industry Research
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global hip reconstruction devices market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market on the basis of indication (osteoarthritis, rheumatoid arthritis, trauma), product (primary hip reconstruction devices, partial hip reconstruction devices, revision hip reconstruction devices, hip resurfacing devices), material (metal-on-metal, metal-on-polyethylene, ceramic-on-polyethylene, ceramic-on-metal, ceramic-on-ceramic), and end user (hospitals, ambulatory surgical centers, orthopedic clinics), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.
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Jun 27, 2023