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