Global Hip Replacement Market Growth, Trends, Covid-19 Impact, and Forecasts 2019 - 2027

Hip Replacement Market
Hip Replacement Market

Hip arthroplasty is the name of the procedure. The procedure is typically performed to repair physical hip joint damage and hip fractures as well as to reduce joint pain (arthritis). The hip replacement market has also been divided into categories based on product, including total hip replacement, partial hip replacement, revision hip replacement, and hip resurfacing. Total hip replacement involves removing the injured hip and replacing it with a prosthetic hip joint comprised of ceramic, plastic, or metal. Osteoarthritis is one of the main causes of the increase in complete hip replacements.

Total Hip Replacement Implant segment in the global Hip Replacement Market was valued at US$ 4,179.1 Mn in 2019 and is expected to reach US$ 6,112.4 Mn by 2027 at a CAGR of 4.9% during the forecast period.

A total hip replacement entails using artificial prosthetic parts like a hip stem system and an acetabular cup system to replace damaged bone and cartilage. A metal stem (cemented or uncemented) is inserted into the hollow centre of the femur to replace the injured femoral head. Either a full or partial surgery (hemi-arthroplasty) is carried out (bipolar - hemiarthroplasty). Hiphemiarthroplasty, another name for partial hip replacement, is a surgical technique where only the injured hip joint's femoral head (the ball) is replaced.

The highest portion of the worldwide hip replacement market share is anticipated to come from North America. The market's expansion is anticipated to be aided by the rising number of hip replacements. Additionally, the market is anticipated to rise faster due to the increasing frequency of strategic alliances between key companies.Due to the expanding demand for personalised implants, the rising number of operations, and the favourable health reimbursement regulations, Europe is expected to have significant growth. Due to the introduction of new products and the combined efforts of key manufacturers to enhance market positions through indirect or direct distribution networks, Asia Pacific is predicted to experience substantial growth. Due to the expanding implant usage and rise in orthopaedic disorders and injuries, the Middle East and Africa as well as Latin America are expected to experience significant growth. 

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