The Hip Replacement Market is segmented, By Product (Total Hip Replacement Implant, Partial Hip Replacement Implant, Hip Resurfacing Implant, Revision Hip Replacement Implant), End-User (Hospitals, Orthopedics Clinics, Ambulatory Surgical Centers), and Region (North America, Europe, Asia-Pacific, and Rest of the World).
Key Players
Key players operating in the hip replacement market are-
Zimmer Biomet (US)
Johnson & Johnson (US)
Stryker Corporation (US)
Smith & Nephew plc (UK)
MicroPort (China)
Exactech, Inc. (US)
OMNI life science, Inc. (US)
B. Braun (Germany)
DJO Global, Inc. (US).
Segment Analysis
End-User Trends
The hip replacement market has been bifurcated into hospitals, orthopedics clinics, and ambulatory surgical centers. Under these, the hospitals segment more than 80% market share in 2021 and are projected to register significant growth during the review period. The segment growth can be attributed to the presence of required healthcare infrastructure and skilled healthcare staff.
Regional Analysis
The market in North America accounted for the largest market share in 2021 and is projected to grow at a significant CAGR during the assessment period. The regional growth is primarily attributed to the high demand for advanced hip replacement procedures, expanding geriatric populace, and the presence of key market players such as Zimmer Biomet (US) and Johnson & Johnson (US). The market growth in the Asia-Pacific region is expected to be driven by rising incidences of arthritis.
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