HIP Replacement Market to Reach USD 12.73 Billion by 2035

According to analysts at Vantage Market Research, the Global HIP Replacement Market size is worth USD 7.84 Billion in 2024 and is projected to reach USD 12.73 Billion by 2035, growing at a CAGR (Compound Annual Growth Rate) of 4.5% from 2024 to 2035. The market is driven by advancements in minimally invasive surgery, increasing adoption of robotic-assisted systems, growing preference for customized implants, aging population, rising obesity rates, and enhanced implant durability.

Market Overview

The HIP Replacement market is expanding due to rising demand for personalized prostheses tailored to individual patient anatomies. Manufacturers are using 3D printing technology to create patient-specific implants since implant sizes differ depending on individual patient demands. The need for specialized solutions has grown dramatically since orthopedic implants are now made using 3D printing. The development of sophisticated implants to improve surgical results is being prioritized by industry participants, which is propelling the hip implant market's expansion.

Osteoarthritis, a progressive condition characterized by the deterioration of soft tissue in bone joints, increasingly affects older adults. As the disease advances, it leads to severe joint pain and damage, particularly in areas such as the hips and knees. According to the World Health Organization (WHO), approximately 70% of individuals aged 55 and above globally suffer from osteoarthritis, highlighting its prevalence in the aging population. The growing geriatric demographic has significantly contributed to the rising incidence of hip osteoarthritis, driving demand for hip implants. Additionally, The number of senior people living in many countries, particularly in Europe and other developed countries like the U.S., is increasing. Increased diagnosis and treatment rates, along with heightened awareness of available treatment options particularly in emerging markets are driving a rise in the number of patients with osteoarthritis opting for hip replacement surgeries.

Stryker Launches Ortho Q Guidance System for Hip and Knee Procedures

• In 2023, Stryker introduced its Ortho Q Guidance system, designed to provide advanced planning and guidance for hip and knee surgeries, with seamless control from within the sterile field. The system integrates cutting-edge optical tracking through a newly designed camera and the advanced algorithms of the Ortho Guidance software

Key Takeaways from the Report

• In 2024, North America dominated the market with 35.2% of share. Market is driven by the rise in hip arthroplasty procedures and growing strategic collaborations among major industry players
• In 2024, based on the Procedure, the Total Hip Replacement category accounted for significant market share of 73.5%. The segment is driven by advancements in surgical techniques, including the use of robotic-assisted systems, which enhance precision and outcomes
• Based on the Material, the Metal-on-Polyethylene category accounted for significant market share in 2024. Metal-on-Polyethylene implants is attributed to their balance of performance and cost-effectiveness
• By End User, Hospitals segment dominated the market in 2024 with significant market share. The segment is driven by increasing broad use of innovative hip replacement devices that deliver superior results

Top Companies

• Conformis Inc
• Medacta International
• Gruppo Bioimpianti s.r.l.
• Corin Group PLC
• Exactech Inc
• Johnson & Johnson
• Zimmer Biomet Holdings Inc
• Stryker Corporation
• Smith & Nephew PLC
• MicroPort Scientific Corporation
• B. Braun Melsungen AG
• Integra LifeSciences
• Kyocera Corporation
• Merete
• Globus Medical Inc
• Colfax Inc.

Report Coverage

Our market research reports provide comprehensive insights that are essential for strategic decision-making. We cover all key aspects of the market, including dynamics such as drivers, restraints, opportunities, and challenges, alongside the latest industry trends. Our analysis includes an in-depth technology roadmap, product life cycle evaluation, and PESTLE analysis, ensuring a thorough understanding of the market environment. We also assess GDP growth outlooks, examine regional market landscapes, and evaluate the impact of major events like the COVID-19 pandemic. Additionally, our reports feature a detailed competitive landscape, including company market shares and profiles, providing actionable intelligence to empower your business strategies.

Latest News

Zimmer Biomet Gains FDA Approval for Rosa Shoulder System

• In February 2024, Zimmer Biomet Holdings, Inc., a leading global medical technology company, announced that it has received FDA 510(k) clearance for the ROSA® Shoulder System, the first robotic platform designed specifically for shoulder replacement surgeries. This marks the fourth addition to Zimmer Biomet’s ROSA® Robotics portfolio, which also includes systems for total knee (ROSA® Knee) and total hip (ROSA® Hip) replacement procedures