Hip Implants Market Drivers, Key Manufacturers, Advancements and Growth Report 2020

 Hip Implants Market: Growing prevalence of Hip-Related Disorders, coupled with the Increasing Demand for Hip Replacement Surgeries, is Projected to Boost Market Growth at a Healthy CAGR of 4.1% During the Forecast Period of 2019 to 2025 :

Market Synopsis

Hip implants are medical devices used to relieve pain and restore mobility in patients suffering from hip-related problems. They usually associated with arthritis and other hip diseases or injuries. Increasing hip replacement surgeries is the primary factor attributed to the growth of the market.

Technological advancements and product launches by key players in the market are likely to act as a promising factor for the growth of the market in the near future.

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Hip replacement is a surgical procedure in which the hip joint is replaced by a prosthetic implant, which is also known as hip prosthesis. Hip replacement surgery can be performed as a hemi (half) replacement or total replacement. The growth of the global hip implants market is driven by various factors, such as the introduction of custom-made implants and the growing geriatric population. Increased product launches, mergers, acquisitions, and partnerships of the major players of the market attributed to the growth of the market. However, stringent government regulations on all-metal hip implants and an increase in the number of product recalls are projected to hamper the growth of the global hip implants market.

Several market players currently dominate the global hip implants market. The key players are involved in product launches and strategic collaborations to strengthen their market positions. For example, in May 2018, DePuy Synthes acquired Medical Enterprises Distribution, LLC, with its automated surgical impactor for hip replacement. Through this acquisition, the former developed and broadened the surgical impactor technology for a wide range of orthopedic surgery procedures.

Segmentation

The global hip implants market has been segmented based on the product, material, and end user.

The market, based on product, has been divided into total hip replacement implants and partial hip replacement implants. Total hip replacement segment is further segmented into fixed-bearing hip implants and mobile-bearing total hip implants. The partial hip implants segment has been further bifurcated into hip resurfacing implants and revision hip replacement implants.

The total hip replacement implants segment is likely to be the largest during the review period due to the increasing geriatric population and prevalence of hip-related disorders. The partial hip replacement implants devices segment is predicted to be the fastest-growing due to less deterioration and friction than all-metal hip implants.

Many players have introduced in the total hip replacement market with advanced technologies. For instance, in March 2019, DJO launched ADAPTABLE, a sterile surgeon-controlled leg and retractor holder, which is designed for the direct anterior approach for total hip arthroplasty.

The global hip implants market has been segregated, based on material, into metal-on-polyethylene, metal-on-metal, ceramic-on-metal, ceramic-on-polyethylene, and ceramic-on-ceramic.

The metal-on-polyethylene segment is expected to account for the largest share of the market attributing to the rising demand of polymer as it reduces the side-effects in comparison to regular hip implants. The ceramic-on-metal segment is touted to grow at an exponential rate due to less friction and deterioration than the metal hip implants. 

The end users in the market are hospitals, orthopedic clinics, ambulatory surgical centers, and others.

The hospitals segment accounts for the largest share of the market as the availability of various facilities and treatment options in the hospitals. The orthopedic clinics segment is touted to grow at an exponential rate due to the presence of availability of skilled surgeons and well-developed infrastructure.  

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Key Players

Some of the key players in the global hip implants market are Corin (UK), DJO Global, Inc. (US), OMNILife science, Inc. (US), MicroPort Scientific Corporation (China), Stryker Corporation (UK), Zimmer Biomet Holdings, Inc. (US), Smith & Nephew PLC (UK), Exactech, Inc. (US), B. Braun Melsungen AG (Germany), and Aesculap Implant Systems, LLC (US).

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