Hip Implants Market Share

Global Hip Implants Market Overview

Hip Implants Market Size was valued at USD 9.5 Billion in 2022. The hip implants market industry is projected to grow from USD 9.83 Billion in 2023 to USD 12.992 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.54% during the forecast period (2023 - 2032). One of the main market driver of the market value to increase is the increasing incidence of osteoarthritis around the world. The market growth rate is being boosted by an increase in surgical procedures, increased knowledge of the advantages of robotically assisted medical treatments, and an increase in traffic accidents.

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

In August 2023, Smith+Nephew, a worldwide medical technology business, has introduced the OR3O Dual Mobility System in India for performing primary and revision hip arthroplasty. Dual mobility implants, in contrast to conventional solutions, feature a smaller femoral head that securely fits into a bigger polyethylene insert. This design enhances stability, decreases the likelihood of dislocation, and provides a greater range of motion. Most hip implants typically use a Cobalt Chrome (CoCr) liner with CoCr/SST or ceramic head balls. However, OR3O stands out by incorporating Smith+Nephew's latest advanced bearing surface, OXINIUM DH, for its liner. Additionally, it uses proprietary OXINIUM on XLPE for its femoral head and polyethylene inserts. This eliminates both the modular cobalt-chromium (CoCr) liner and/or CoCr head ball from the structure, hence decreasing the dangers of wear and corrosion that have been linked to this alloy. OXINIUM DH (Diffusion Hardened) is a distinct version of Smith+Nephew's OXINIUM Technology platform that enhances the hardening depth using an additive manufacturing technique.

In August 2022, Exactech, a company specializing in the creation and manufacturing of advanced implants, instruments, and intelligent technologies for joint replacement surgery, reported the successful completion of the initial procedures using the Spartan™ Stem and Logical™ Cup System for total hip arthroplasty. The Spartan Hip Stem has a range of appealing clinical features, such as cutting-edge, three-offset choices and a tapered, polished distal segment. This hip stem is designed to meet the current requirements of patients and incorporates the latest improvements in surgical techniques. The Logical Cup is a sophisticated and adaptable acetabular system designed to cater to the needs of extremely active patients. It also facilitates a streamlined surgical process in both hospitals and ambulatory surgery centers. The initial release of the Spartan Stem and Logical Cup Systems began in select areas in the third quarter of 2022, and the official release is scheduled to expand to the majority of locations throughout the United States in the first half of 2023.

Hip Implants Market Trends

• Rise in the prevalence of arthritis is driving the market growth

The market CAGR for hip implants is anticipated to develop in the future due to the rise in the prevalence of arthritis. One or more joints become swollen and painful due to arthritis, which causes excruciating pain in the bones and joints. The two most prevalent kinds of arthritis are osteoarthritis and rheumatoid arthritis. Hip replacement surgeries, also known as hip arthroplasty, are frequently performed to relieve hip discomfort and restore hip function. During these procedures, artificial implants are utilized to replace any damaged or non-functioning elements of the hip joint. For instance, the US-based national public health organization, the Centers for Disease Control and Prevention, estimates that in November 2021, 24% of all adults, or 58.5 million persons, will have arthritis. It is the leading cause of work impairment, with yearly expenses for medical care and lost pay totaling $303.5 billion. In the US, individuals of working age make up the bulk of arthritis sufferers (around 57.3%). In addition, 20.3 million people in the UK experience musculoskeletal (MSK) problems like arthritis or back pain, according to a 2021 report by Versus Arthritis, a US-based nonprofit group dedicated to the disease. Therefore, the market for hip implants is expanding as arthritis is becoming more common.

The use of online tools for patients who underwent hip surgery is one of the major trends driving the growth of the hip replacement market. Healthcare companies are quickly expanding the programs, and it is anticipated that greater market growth potential will result from increased knowledge of online resources. Patients have begun turning to web-based technologies and online resources in recent years to learn more about particular ailments. One area where new internet technologies have been introduced to support patients during surgeries, communicate with orthopedic physicians, and provide post-surgery information is joint replacement. For instance, the BMC Journal published an article about the RECOVER-E mobile app that is being developed to assist people who have had knee and hip surgery and are recovering.

The demand for hip implants is expected to increase as a result of adequate health insurance and changes to the health reimbursement laws for joint replacement surgeries. The governments of various nations have introduced a variety of health reimbursement programs for joint replacement surgery in an effort to provide everyone with access to inexpensive and high-quality healthcare. As a result, more people are having hip arthroplasty surgeries, which is boosting the market. Thus, driving the hip implants market revenue.

Hip Implants Market Segment Insights

Hip Implants Product Insights

The  hip implants market segmentation, based on product includes Total Hip implants, Fixed-Bearing Hip Implants, Mobile-Bearing Total Hip Implants, Partial Hip implants, Hip Resurfacing Implants and Revision Hip implants. The total hip implants segment dominated the market. The prevalence of hip conditions including osteoarthritis and rheumatoid arthritis is rising, as is the demand for minimally invasive surgical techniques. The femoral head and acetabulum are both replaced with an implant during a total hip replacement, which reduces discomfort and improves joint function. This operation is frequently carried out on older individuals who have significant arthritis or hip injury.

Hip Implants End-User Insights

The  hip implants market segmentation, based on end-user, includes Hospitals, Orthopedic Clinics and Ambulatory Surgical Centers. The hospitals category generated the most income. A rise in hip implant procedures conducted in these facilities is the primary factor driving the segment's growth. These facilities offer the most modern technology and a highly skilled medical team, which helps to accelerate category growth. The industry is growing as a result of collaborations between hospitals and important players to create cutting-edge surgical methods.

Figure 1  Hip Implants Market, by End-User, 2022 & 2032 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Hip Implants Material Insights

The  hip implants market segmentation, based on material, includes Metal-on-Polyethylene, Ceramic-on-Metal, Metal-on-Metal, Ceramic-on-Polyethylene and Ceramic-on-Ceramic The metal-on-polyethylene category generated the most income. This is because metal-on-polyethylene implants are widely available and have a history of successful clinical use. Primary total hip arthroplasty treatments frequently use metal-on-polyethylene hip implants because of their dependability and resistance to wear. In recent years, however, metal-on-polyethylene implants have come under closer investigation due to worries about metal toxicity and the possibility of implant corrosion and failure.

Hip Implants Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American hip implants market area will dominate this market. This is brought on by the increased senior population, osteoarthritis prevalence, and awareness of hip replacement procedures. In addition, the region's advanced healthcare infrastructure and attractive reimbursement policies are anticipated to fuel market revenue growth.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2  HIP IMPLANTS MARKET SHARE BY REGION 2022 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe hip implants market accounts for the second-largest market share. This is due to an increase in hip replacement procedures and an aging population. More than 300,000 hip replacement surgeries are carried out annually in Europe, according to the European Hip Society, with Germany, the UK, and France doing the most operations. Additionally, rising rates of osteoarthritis and hip fractures are anticipated to fuel market revenue growth in this area. Further, the German hip implants market held the largest market share, and the UK hip implants market was the fastest growing market in the European region

The Asia-Pacific Hip implants Market is expected to grow at the fastest CAGR from 2023 to 2032. Increased knowledge of hip replacement operations and growing healthcare costs are to blame for this. Additionally, it is anticipated that an aging population and an increase in the frequency of hip fractures will fuel market revenue growth in this area. Moreover, China’s hip implants market held the largest market share, and the Indian hip implants market was the fastest growing market in the Asia-Pacific region.

Hip Implants Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the hip implants market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, hip implants industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the  hip implants industry to benefit clients and increase the market sector. In recent years, the hip implants industry has offered some of the most significant advantages to market. Major players in the hip implants market attempting to increase market demand by investing in research and development operations include Zimmer Biomet Holdings Inc. (US), Stryker Corporation (UK), Smith & Nephew PLC (UK), MicroPort Scientific Corporation (China), Exactech Inc. (US), OMNILife science Inc. (US), Braun Melsungen AG (Germany), DJO  Inc. (US), Aesculap Implant Systems LLC (US) and Corin (UK).

ENT, sports medicine, advanced wound treatment, orthopedic reconstruction, and trauma are among the fields in which Smith & Nephew Plc develops, produces, and markets medical devices. The company sells hip and knee implants to replace old, ill, or damaged joints, as well as robotics-assisted technologies and trauma-related products to stabilise fractures and rectify deformities. It also sells wound care goods and equipment for removing and restoring soft tissue.

Since its establishment, Corin has been a leader in orthopedic innovation and has spearheaded numerous significant advancements. Corin is delighted to have been able to use these ground-breaking solutions to enhance the quality of life for thousands of patients worldwide. The company's professional and committed teams are committed to exceeding expectations and making a positive difference in people's lives by providing superior orthopedic products and services to patients, surgeons, and healthcare providers. It has never been more crucial to offer cutting-edge conservative treatment paths with more conventional procedures due to a patient population that is growing more active and demanding.

Key Companies in the hip implants market include

• Zimmer Biomet Holdings Inc. (US)


• Stryker Corporation (UK)


• Smith & Nephew PLC (UK)


• AMicroPort Scientific Corporation (China)


• Exactech Inc. (US)


• OMNILife science Inc. (US)


• Braun Melsungen AG (Germany) 


• DJO (US)


• Aesculap Implant Systems LLC (US)


• Corin (UK)

Hip Implants Industry Developments

March 2023 Exactech, a well-known manufacturer of medical devices with a focus on orthopaedic implants and surgical equipment, recently announced the addition of a new customized shoulder implant to its line of products. The new implant, known as the Alteon® Cup Humeral Resurfacing, is made to suit each patient specifically and enhance clinical results.

February 2023  Johnson & Johnson and Zhongchao Inc., a major Chinese supplier of online medical education and healthcare information, have renewed their collaboration. The two businesses will continue to collaborate on the creation of cutting-edge healthcare products for the Chinese market.

May 2022 To aid with hip and knee replacement, Parkash Hospital in Amritsar introduced the United States Food and Drug Administration-approved Mako Robotic-Arm Assisted Technology.

March 2022 For complete hip and hemiarthroplasty surgeries, Stryker's Joint Replacement Division introduced the Insignia Hip Stem, which was designed to maximize patient fit and surgeon ease of installation in muscle-sparing techniques.

Hip Implants Market Segmentation

Hip Implants Product Outlook (USD Billion, 2018-2032)

• Total Hip implants


• Fixed-Bearing Hip Implants


• Mobile-Bearing Total Hip Implants


• Partial Hip implants


• Hip Resurfacing Implants


• Revision Hip implants

Hip Implants End-User Outlook (USD Billion, 2018-2032)

• Hospitals


• Orthopedic Clinics


• Ambulatory Surgical Centers

Hip Implants Material Outlook (USD Billion, 2018-2032)

• Metal-on-Polyethylene


• Ceramic-on-Metal


• Metal-on-Metal


• Ceramic-on-Polyethylene


• Ceramic-on-Ceramic

Hip Implants Regional Outlook (USD Billion, 2018-2032)

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America