Hip Implants Market Size, Share, Outlook, and Opportunity Analysis, 2020– 2027

 

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Hip Implants Market, by Component Type (Acetabular Component and Femoral Component), by Material Type (Metal on Polyethylene, Ceramic on Polyethylene, Ceramic on Ceramic, Ceramic on Metal, and Metal on Metal), by End User (Hospitals, Surgery Centers, and Orthopedic Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2019 – 2027

Hip implants are medical devices which are used to restore motility and relieve the pain related to arthritis or hip injuries and diseases such as osteonecrosis. Hip implants possess a unique device design feature such as size, shape, material and dimensions. The factors that influence the outcome and longevity of a hip implant device are the device design features, implantation technique and individual patient characteristics such as age, sex, weight, activity level, and overall health.

Global Hip Implant Market - Dynamics

Growing geriatric population which is prone to osteoarthritis, and hip fractures, is likely to propel the growth of the hip implants market over the forecast period. For instance, the World Health Organization reported that during 2015-16, nearly 18.0% women and 9.6% men aged 60 years and above had symptomatic osteoarthritis. According to the Australian Institute of Health and Welfare, 2015-16, nearly 18,700 new hip fractures were reported in Australians aged 45 years and above.

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Moreover, launches and approvals of various new hip implants are also expected to drive the market growth in near future. For instance, in October 2017, DePuy Synthes announced the first polymethylmethacrylate (PMMA) cement along with the TFNA system which is used to provide improved implant fixation of the hip in cases where potential risk of cut out is significant. Furthermore, in 2018, DePuy Synthes acquired Medical Enterprises Distribution LLC including the orthopedics assets of ME1000, a surgical impactor used in total hip replacement surgery.

Global Hip Implant Market - Regional Insights

On the basis of region, the global hip implant market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds the dominant position in the global hip implant market owing to launch and approvals of new hip replacement implants. For instance, in March 2018, the United Orthopedic Corporation, a designer, manufacturer and distributor of orthopedic implants and instruments, announced the launch of UTS (United Tri-tapered Short Stem) hip stem at the American Academy of Orthopedic Surgeons Annual Meeting in New Orleans, U.S. The UTS hip stem is designed for easier insertion through small incisions and it facilitates less invasive surgeries.

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Europe is also expected to witness significant growth in the hip implants market due to high prevalence of hip fractures. For instance, according to the National Hip Fracture Database Annual Report 2018, nearly 76,000 cases of hip fractures are reported each year in the U.K.

Global Hip Implant Market - Competitive Landscape

Moreover, key players in the market are focused on developing new products, in order to enhance their market share. For instance, in 2017, Croin Group launched the Optimized Positioning System (OPS) at the American Academy of Orthopedic Surgeons (AAOS) in San Diego, U.S. The system helps in determining the best positioning of an implant and its components during hip replacement surgery on the basis of patient’s movements during daily activities.

Some of the key players operating in the global hip implant market include Stryker, Depuy Synthes, B.Braun Melsungen, Boston Scientific Corporation, Wright Medical N.V., Hip Innovation Technology LLC., Johnson and Johnson, MicroPort Scientific, Smith and Nephew, Zimmer Biomet, and DJO Global.

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