Hip Replacement Market Size, Share & COVID-19 Impact Analysis, By Procedure (Total, Partial, and Revision & Hip Resurfacing), By End-user (Hospitals & Ambulatory Surgery Centers, Orthopedic Clinics, and Others), and Regional Forecast, 2023-2030

The global hip replacement market size was valued at USD 7.42 billion in 2022 and the market is projected to grow from USD 7.72 billion in 2023 to USD 10.79 billion by 2030, exhibiting a CAGR of 4.9% during the forecast period.

The prevalence of osteoarthritis is increasing gradually and has become an economic burden for several countries across the globe. Hip osteoarthritis causes degeneration of the hip joint and can be treated by arthroplasty. During surgery, the damaged bone component and cartilage are replaced by a prosthesis. The procedures are increasing significantly due to the aging population, active government support, and improving awareness regarding replacement surgeries. This is positively impacting the product demand.

COVID-19 IMPACT

Decline in Hip Replacement Hindered Market Growth amid COVID-19 Pandemic

The market reflected a negative impact in its growth due to the sudden outbreak of COVID-19. In an attempt to combat the pandemic and reserve essential health care resources, surgeons were instructed only to perform necessary surgical procedures. Most hip and knee arthroplasty surgery did not meet the definition of necessary surgery and got canceled due to the enforcement of these restrictions.

• As per the American Association of Hip & Knee Surgeons (AAHKs), in 2021, it was projected that around 30,000 primary and 3,000 revision hip and knee arthroplasty procedures were canceled each week amid COVID-19 restrictions regarding unnecessary surgery.

Leading market players witnessed a significant decline in revenues generated from the sales of their hip implant portfolio in 2020. For instance, Zimmer Biomet experienced a decline in revenues of around -9.4% in 2020, as compared to its revenue of USD 1,932.0 million from the hip implants segment in 2019. Many surgeries were canceled or postponed due to the pandemic, which resulted in significant financial losses for health care institutions and market players.

However, resumption of healthcare services in 2021 led to the recovery of the market in terms of the number of surgeries performed and the demand for hip implants. Various factors such as revocation of travel restrictions and lifting lockdowns imposed in various countries, along with improved access to COVID-19 vaccines led to an increase in the number of patients undergoing hip replacement surgeries. These factors reflected a growth in revenues of market players in 2021. For instance, Stryker witnessed an increase in its revenues from hip implants portfolio of around 18.8% in 2021 as compared to its revenues of USD 1,152.0 million in 2020.

LATEST TRENDS

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Increased Awareness of Hip Replacement Surgery to Boost the Market Growth

One of the key trends favoring the hip replacement market growth is the incorporation of online tools for patients who underwent surgeries. Healthcare organizations are swiftly scaling up various programs. The increased awareness regarding online resources is estimated to offer lucrative growth opportunities for the market. In the past few years, patients have started referring to online resources and web-based tools to gain information for specific diseases. Joint replacement is one such area witnessing the introduction of several online tools, which help patients through their surgeries, communicating with orthopedic surgeons, and offering post-surgery information. For instance, in February 2020, the BMC Journal broadcasted an article related to the RECOVER-E mobile app under development that helps patients recovering from knee and hip surgeries.

Additionally, in August 2021, Meitra Hospital, Kozhikode, India announced the launch of Robotic Joint Replacement Surgery. It was a mega step toward introducing advanced, innovative, and cutting-edge technology to ensure faster and complete recovery of patients requiring joint replacement surgeries.

DRIVING FACTORS

Favorable Health Reimbursement to Propel the Market Growth

Adequate health coverage and reforms in health reimbursement policies for joint replacement procedures are anticipated to propel the demand for hip implants. To provide affordable and quality care to all people, the governments of different countries have launched various health reimbursement schemes for joint replacement surgeries. This has led to an increase in the number of people undergoing arthroplasty, fostering the market growth.

Rapid Adoption of Customized Hip Prostheses to Aid the Market Expansion

The market for hip arthroplasty implants is projected to expand with the increasing demand for customized implants for males and females. Since each patient has a unique anatomy, the sizes of implants differ. Many manufacturers are focusing on 3D printing technology for patient-specific implants.

The introduction of 3D printing technology to manufacture orthopedic implants resulted in a huge surge in the demand for customized implants. Many orthopedic companies are producing pioneering technologies for making technically advanced replacement prostheses, thereby favoring market growth.

RESTRAINING FACTORS

Lawsuits and Product Recalls of Hip Replacement Devices to Hamper Market Growth

The volumes of replacement surgery are rising speedily. However, the complications related to the use of the implant are a major factor that can likely hamper the growth of the global market over the forecast period. The lawsuits claim patients were left with serious side effects due to the device’s defects. The related side effects comprise allergic reactions, metal poisoning, and infections, among others.

Major companies such as Zimmer Biomet have faced various individual lawsuits and class action lawsuits owing to the malfunction of their orthopedic replacement devices. For instance, as of March 2023, there were nearly 344 on-going Stryker replacement lawsuits.

Additionally, significant product recalls of the devices by key players across the globe are estimated to hamper the market growth in the coming years. According to the U.S. FDA, in March 2021, Stryker issued Urgent Medical Device Recall notice to customers for voluntary recall of the Triathlon Total Knee System. Moreover, Zimmer Biomet recorded the highest recalls, followed by Johnson and Johnson Services Inc. and Smith & Nephew.

SEGMENTATION

By Procedure Analysis

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Total Hip Replacement Segment to Witness Remarkable Growth Due to Rise in Arthroplasty Procedures

Based on procedure, the market is segmented into total, partial, and revision & hip resurfacing. The total segment is estimated to dominate the market over the forecast period due to the increase in total hip arthroplasty procedures. According to an article published in the Rheumatology Advisor, researchers projected that the total annual counts of total hip arthroplasty increased by 34% in 2020 to 498,000 replacements and would rise by 75% in 2025 to 652,000 replacements, by 129% in 2030 to 850,000 replacements, and by 284% in 2040 to 1,429,000 replacements. This, coupled with the rapid adoption of robots for THA (total hip arthroplasty) procedures, is projected to drive the segmental expansion during the forecast timeframe.

The increasing preference for partial replacement surgeries, growing prevalence of hip osteoarthritis, and new product launches are factors attributable to the significant growth of the partial replacement segment. The rising need for revision procedures after wearing out of previously implanted products and shift toward hip resurfacing are major factors contributing to the segment growth.

By End-user Analysis

Increase in Number of Procedures to Drive the Growth of the Hospitals & ASCs Segment

By end-user, the market is segmented into hospitals & Ambulatory Surgery Centers (ASCs), orthopedic clinics, and others. In terms of revenue, the hospitals & ambulatory surgery centers segment held a major share in the market in 2022. This can be attributed to the increasing number of hospital surgeries, favorable health reimbursement, and rapid adoption of robots for replacement surgeries. 

The orthopedic clinics segment is anticipated to expand during the projected period. This is owing to the rising number of orthopedic surgeons and replacement surgeries in outpatient settings.                                     

REGIONAL INSIGHTS

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North America dominated the market by accounting for the maximum hip replacement market share. The region stood at USD 2.54 billion in 2022. North America is projected to dominate the market over the forecast period. Primary factors responsible for the expansion of the market in North America are the rising number of hip arthroplasty procedures and increasing strategic collaborations between major players.

• In September 2020, Conformis announced the U.S. Food and Drug Administration clearance for the Cordera Hip System. This is poised to surge the demand for arthroplasty implants in the U.S.

In Europe, the market for hip prostheses is anticipated to expand at a considerable pace over the forecast period. This is owing to favorable health reimbursement, increased demand for customized implants, and an escalating number of surgeries. According to Premier Healthcare, German surgeons perform 200,000 hip replacement surgeries annually.

The Asia Pacific market is growing faster due to various factors. These include the cumulative efforts of manufacturers to establish a presence in Asia Pacific through an indirect or direct distribution network and the rollout of new products.

The markets in Latin America and Middle East & Africa are anticipated to experience moderate growth over the study period. The growth in the demand for hip replacement in these regions is due to the increasing prevalence of diseases such as hip osteoarthritis and rising awareness regarding hip replacement procedures.

• As per the research study published by the National Centre for Biotechnology Information (NCBI), in 2022, around 18.1% of the population of Mexico aged above 40 years suffered from hip osteoarthritis. Moreover, around 26.5% of the women population aged above 40 years in Mexico suffered from radiographic hip osteoarthritis.

However, a rising number of orthopedic injuries and diseases and increasing adoption of implants are likely to drive the market growth in the Middle East & Africa and Latin America.

KEY INDUSTRY PLAYERS

Zimmer Biomet, DePuy Synthes, and Stryker to Account for More than Half of the Market Share

In terms of revenue, Zimmer Biomet, DePuy Synthes, and Stryker held a leading position across the global market. Zimmer Biomet accounted for the highest market share in 2022. The dominance is attributed to the company’s constant focus on R&D and introduction of innovative products. Additional factors favoring industry expansion include strong global brand presence and wide distribution network.

• In September 2022, Zimmer Biomet announced a co-marketing agreement with Surgical Planning Associates Inc., a U.S.-based medical technology company. Through this agreement, Zimmer Biomet commercialized HipInsight, a mixed-reality navigation system for hip implants.

On the other hand, a strong sales force, focus on both inorganic and organic growth, and strategic collaborations are primary reasons for the leading position of DePuy Synthes and Stryker. Other players in the market include Exactech Inc., Conformis, and MicroPort Scientific Corporation, among others.

• In August 2022, Exactech Inc. announced the completion and success of the first surgery using its Spartan Stem and Logical Cup system for hip arthroplasty.  

LIST OF KEY COMPANIES PROFILED:

• Zimmer Biomet (U.S.)


• Medical Device Business Services, Inc. (Johnson & Johnson Private Limited) (U.S.)


• Smith & Nephew (U.K.)


• Stryker (U.S.)


• Exactech, Inc. (U.S.)


• GRUPPO BIOIMPIANTI s.r.l. (Italy)


• Conformis (U.S.)


• MicroPort Scientific Corporation (China)


• B. Braun Melsungen AG (Germany)

KEY INDUSTRY DEVELOPMENTS:

• July 2022 – Evonis Corporation, a medical technology company, announced the launch of an augmented reality and visualization system for surgeons performing hip replacement to offer surgical navigation.


• August 2022 - Exactech, Inc. announced the launch of the Logical Cup System and Spartan Stem for total hip arthroplasty.


• August 2021 - Zimmer Biomet Holdings, Inc., a worldwide medical technology company, announced that the company received the U.S. Food and Drug Administration (FDA) 510(k) clearance of the ROSA Hip System for robotically-assisted direct anterior total hip replacement.


• July 2021 - Medacta announced the expansion of the hip revision portfolio. Its first surgeries utilize AMIS(R)-K Long, Iliac Screw Mpact 3D Metal, and 3D Metal(R) B-Cage. Together with the M-Vizion Modular Femoral Revision Stem, these products further widen the Medacta Hip Revision Platform.


• December 2020 - Conformis announced the launch of its product Cordera Match Hip System in the U.S.

REPORT COVERAGE

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The global market research report provides qualitative and quantitative insights on the industry and a detailed hip replacement market analysis with size and growth rate for all possible segments in the market. Along with this, the report provides an elaborative analysis of the market dynamics and the competitive landscape. Various key insights provided in the report are the number of replacement procedures for key countries, new product launches, regulatory scenario, and overview of reimbursement policies in key countries, recent industry developments, such as mergers & acquisitions, and market trends. The report provides qualitative and quantitative insights on the global market trends and a detailed analysis of market size and growth rate for all possible segments in the market.

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