Global Hip Replacement Market report from Global Insight Services is the single authoritative source of intelligence on Hip Replacement Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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A hip replacement is a surgical procedure in which the hip joint is replaced by a prosthetic implant. The prosthetic implant is usually made of metal and plastic.
Key Trends
There has been a trend in recent years towards minimally invasive surgery for hip replacement. This means that the surgeon makes smaller incisions, which can lead to a quicker recovery time. In some cases, a patient may even be able to go home the same day as their surgery.
Another trend is the use of computer-assisted surgery. This technology helps the surgeon to plan the surgery and to place the implant in the best possible position. This can lead to a more successful outcome and a quicker recovery.
There has also been a trend towards using lighter-weight materials for the hip replacement. This can help to reduce the risk of dislocation and can make the surgery less invasive.
Finally, there has been a trend towards using patient-specific implants. This means that the implant is made to fit the patient’s individual anatomy. This can lead to a more successful outcome and a quicker recovery.
Key Drivers
The key drivers of the hip replacement market are the rising incidence of hip disorders and the increasing preference for minimally invasive surgery.
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The rising incidence of hip disorders is largely attributed to the aging population and the growing prevalence of obesity. Obesity is a major risk factor for a number of chronic diseases, including osteoarthritis, which is a leading cause of hip disorders.
The increasing preference for minimally invasive surgery is another key driver of the hip replacement market. Minimally invasive surgery is associated with a number of benefits, including reduced blood loss, shorter hospital stay, and faster recovery.
Restraints & Challenges
The key restraints and challenges in hip replacement market are lack of awareness, stringent regulations, and high cost.
Lack of awareness: There is lack of awareness about hip replacement among the population, especially in developing countries. This is one of the major restraints for the growth of hip replacement market.
Stringent regulations: The hip replacement market is highly regulated by various government bodies. These regulations are stringent and restrict the entry of new players in the market. This is one of the major restraints for the growth of hip replacement market.
High cost: Hip replacement surgery is a costly affair. The cost of surgery, implants, and post-operative care is very high. This is one of the major restraints for the growth of hip replacement market.
Market Segments
The Hip Replacement Market is segmented by product, material, fixation material, and region. By product, the market is divided into primary hip replacement devices, partial hip replacement devices, revision hip replacement devices. Based on material, it is bifurcated into metal-on-plastic, ceramic-on-plastic, ceramic-on-ceramic. On the basis of fixation material, it is classified into cemented fixation, cementless fixation and hybrid fixation. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
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Key Players
The Hip Replacement Market includes players such as Stryker, Zimmer Biomet, Johnson and Johnson, Smith & Nephew, MicroPort Orthopedics Inc., LimaCorporate, DJO Global Inc., Waldemar Link GmbH & Co. KG, Exactech, Inc. and B. Braun Melsungen AG.
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