HEALTHCARE
Global Artificial Hip Joint Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Artificial Hip Joint Market, By Product (Primary Hip Replacement Devices, Partial Hip Replacement Devices, Revision Hip Replacement Devices, Hip Resurfacing Devices), Type (Metal-on-Metal, Metal-on-Polyethylene, Ceramic-on-Metal, Ceramic-on-Polyethylene, Ceramic-on-Ceramic), Fixation Material (Cemented Fixation, Cementless Fixation, Hybrid Fixation), Inserts (Cross-linked Polyethylene Inserts, Antioxidant Polyethylene Inserts, Non-antioxidant Polyethylene Inserts), End User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, Others), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global artificial hip joint market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
An artificial hip joint, commonly referred to as a hip prosthesis or hip replacement, is a medical device that replaces a damaged or diseased hip joint with an artificial component. It is composed of a ball-and-socket mechanism, usually composed of sturdy materials like ceramic, metal, or plastic, and is intended to help patients with fractures or osteoarthritis regain their range of motion and reduce their pain. The Artificial Hip Joint market includes the global manufacture, distribution, and sale of these prosthetic devices. The market is impacted by several factors, such as the development of materials and designs for improved patient comfort and durability, the aging population driving up demand, and the growing incidence of hip-related illnesses. Hospitals, orthopedic practices, research institutes, and manufacturers of medical devices are among the market players that support advancements meant to extend the life and functioning of prosthetic hip joints.
The respective global report analyses market trends, consumer behaviour and industry dynamics to guide towards entry into new markets with ease. Also, it assists in tailoring market specific and related products and services to meet the needs, preferences, and expectations of target audience by delving into their psychology. The report also specializes with comprehensive and extensive competitive analysis which offers useful insights into competitor strengths, weaknesses, opportunities, and threats. The respective report offers exclusive insights into the potential impact of disruptive developments and technologies that are expected to completely transform corporate operations. The context includes tailor-made research solutions to create a stronger footprint in their particular industries thereby offering dedicated customized solutions according to the client needs which helps in addressing unique business challenges with more simplified and efficient decision-making solutions.
Market Dynamics
DRIVERS
- Growing geriatric population worldwide.
- Higher incidence of osteoarthritis and hip fractures.
RESTRAINTS
- High costs associated with hip replacement surgeries.
- Risks of post-operative complications.
OPPORTUNITIES
- Expansion of healthcare facilities in developing economies.
- Development of biocompatible materials for longer-lasting implants.
CHALLENGES
- Intense competition among market players.
- Limited reimbursement policies in some regions.
SEGMENTATION
- Product
- Primary Hip Replacement Devices
- Partial Hip Replacement Devices
- Revision Hip Replacement Devices
- Hip Resurfacing Devices
- Type
- Metal-on-Metal
- Metal-on-Polyethylene
- Ceramic-on-Metal
- Ceramic-on-Polyethylene
- Ceramic-on-Ceramic
- Fixation Material
- Cemented Fixation
- Cementless Fixation
- Hybrid Fixation
- Inserts
- Cross-linked Polyethylene Inserts
- Antioxidant Polyethylene Inserts
- Non-antioxidant Polyethylene Inserts
- End User
- Hospitals
- Orthopedic Clinics
- Ambulatory Surgical Centers
- Others
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, and segments as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- Zimmer Biomet Holdings
- Johnson & Johnson services Inc.
- Stryker Corporation
- Smith & Nephew
- MicroPort Scientific Corporation
- Exactech, Inc.
- DJO Global, Inc.
- B. Braun
- Medacta International
- Corin Group
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Artificial Hip Joint Market, by Product
- 3.2 Global Artificial Hip Joint Market, by Type
- 3.3 Global Artificial Hip Joint Market, by Fixation Material
- 3.4 Global Artificial Hip Joint Market, by Inserts
- 3.5 Global Artificial Hip Joint Market, by End User
- 3.6 Global Artificial Hip Joint Market, by Geography
- 3.7 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Increasing adoption of minimally invasive surgeries.
- 5.1.2 Technological advancements in materials and design.
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Growing geriatric population worldwide.
- 5.2.2 Higher incidence of osteoarthritis and hip fractures.
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 High costs associated with hip replacement surgeries.
- 5.3.2 Risks of post-operative complications.
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Expansion of healthcare facilities in developing economies.
- 5.4.2 Development of biocompatible materials for longer-lasting implants.
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Intense competition among market players.
- 5.5.2 Limited reimbursement policies in some regions.
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL ARTIFICIAL HIP JOINT MARKET, BY PRODUCT
- 6.1 Product Summary
- 6.2 Market Attractive Index
- 6.3 Global Artificial Hip Joint Market, by Product (2019-2032)
- SECTION 7 - GLOBAL ARTIFICIAL HIP JOINT MARKET, BY TYPE
- 7.1 Type Summary
- 7.2 Market Attractive Index
- 7.3 Global Artificial Hip Joint Market, by Type (2019-2032)
- SECTION 8 - GLOBAL ARTIFICIAL HIP JOINT MARKET, BY FIXATION MATERIAL
- 8.1 Fixation Material Summary
- 8.2 Market Attractive Index
- 8.3 Global Artificial Hip Joint Market, by Fixation Material (2019-2032)
- SECTION 9 - GLOBAL ARTIFICIAL HIP JOINT MARKET, BY INSERTS
- 9.1 Inserts Summary
- 9.2 Market Attractive Index
- 9.3 Global Artificial Hip Joint Market, by Inserts (2019-2032)
- SECTION 10 - GLOBAL ARTIFICIAL HIP JOINT MARKET, BY END USER
- 10.1 End User Summary
- 10.2 Market Attractive Index
- 10.3 Global Artificial Hip Joint Market, by End User (2019-2032)
- SECTION 11 - GLOBAL ARTIFICIAL HIP JOINT MARKET, BY GEOGRAPHY
- 11.1 Regional Summary
- 11.2 Market Attractive Index
- 11.3 Global Artificial Hip Joint Market, by Geography (2019-2032)
- SECTION 12 - NORTH AMERICA ARTIFICIAL HIP JOINT MARKET
- 12.1 North America Summary
- 12.2 Market Attractive Index
- 12.3 North America Artificial Hip Joint Market, by Product (2019-2032)
- 12.4 North America Artificial Hip Joint Market, by Type (2019-2032)
- 12.5 North America Artificial Hip Joint Market, by Fixation Material (2019-2032)
- 12.6 North America Artificial Hip Joint Market, by Inserts (2019-2032)
- 12.7 North America Artificial Hip Joint Market, by End User (2019-2032)
- 12.8 North America Artificial Hip Joint Market, by Country (2019-2032)
- 12.8.1 U.S.
- 12.8.2 Canada
- 12.8.3 Mexico
- 12.8.4 Rest of North America
- SECTION 13 - EUROPE ARTIFICIAL HIP JOINT MARKET
- 13.1 Europe Summary
- 13.2 Market Attractive Index
- 13.3 Europe Artificial Hip Joint Market, by Product (2019-2032)
- 13.4 Europe Artificial Hip Joint Market, by Type (2019-2032)
- 13.5 Europe Artificial Hip Joint Market, by Fixation Material (2019-2032)
- 13.6 Europe Artificial Hip Joint Market, by Inserts (2019-2032)
- 13.7 Europe Artificial Hip Joint Market, by End User (2019-2032)
- 13.8 Europe Artificial Hip Joint Market, by Country (2019-2032)
- 13.8.1 Germany
- 13.8.2 U.K.
- 13.8.3 France
- 13.8.4 Italy
- 13.8.5 Spain
- 13.8.6 Russia
- 13.8.7 The Netherlands
- 13.8.8 Belgium
- 13.8.9 Turkey
- 13.8.10 Rest of Europe
- SECTION 14 - ASIA-PACIFIC ARTIFICIAL HIP JOINT MARKET
- 14.1 Asia-Pacific Summary
- 14.2 Market Attractive Index
- 14.3 Asia-Pacific Artificial Hip Joint Market, by Product (2019-2032)
- 14.4 Asia-Pacific Artificial Hip Joint Market, by Type (2019-2032)
- 14.5 Asia-Pacific Artificial Hip Joint Market, by Fixation Material (2019-2032)
- 14.6 Asia-Pacific Artificial Hip Joint Market, by Inserts (2019-2032)
- 14.7 Asia-Pacific Artificial Hip Joint Market, by End User (2019-2032)
- 14.8 Asia-Pacific Artificial Hip Joint Market, by Country (2019-2032)
- 14.8.1 China
- 14.8.2 India
- 14.8.3 Japan
- 14.8.4 South Korea
- 14.8.5 Singapore
- 14.8.6 Malaysia
- 14.8.7 Australia
- 14.8.8 Thailand
- 14.8.9 Philippines
- 14.8.10 Rest of Asia-Pacific
- SECTION 15 - SOUTH AMERICA ARTIFICIAL HIP JOINT MARKET
- 15.1 South America Summary
- 15.2 Market Attractive Index
- 15.3 South America Artificial Hip Joint Market, by Product (2019-2032)
- 15.4 South America Artificial Hip Joint Market, by Type (2019-2032)
- 15.5 South America Artificial Hip Joint Market, by Fixation Material (2019-2032)
- 15.6 South America Artificial Hip Joint Market, by Inserts (2019-2032)
- 15.7 South America Artificial Hip Joint Market, by End User (2019-2032)
- 15.8 South America Artificial Hip Joint Market, by Country (2019-2032)
- 15.8.1 Brazil
- 15.8.2 Argentina
- 15.8.3 Chile
- 15.8.4 Colombia
- 15.8.5 Rest of South America
- SECTION 16 - MIDDLE EAST AND AFRICA ARTIFICIAL HIP JOINT MARKET
- 16.1 Middle East and Africa Summary
- 16.2 Market Attractive Index
- 16.3 Middle East and Africa Artificial Hip Joint Market, by Product (2019-2032)
- 16.4 Middle East and Africa Artificial Hip Joint Market, by Type (2019-2032)
- 16.5 Middle East and Africa Artificial Hip Joint Market, by Fixation Material (2019-2032)
- 16.6 Middle East and Africa Artificial Hip Joint Market, by Inserts (2019-2032)
- 16.7 Middle East and Africa Artificial Hip Joint Market, by End User (2019-2032)
- 16.8 Middle East and Africa Artificial Hip Joint Market, by Country (2019-2032)
- 16.8.1 Kingdom of Saudi Arabia
- 16.8.2 South Africa
- 16.8.3 U.A.E.
- 16.8.4 Egypt
- 16.8.5 Rest of Middle East and Africa
- SECTION 17 - COMPANY SHARE ANALYSIS
- 17.1 Global Artificial Hip Joint Market, Company Share Analysis
- 17.2 North America Artificial Hip Joint Market, Company Share Analysis
- 17.3 Europe Artificial Hip Joint Market, Company Share Analysis
- 17.4 Asia-Pacific Artificial Hip Joint Market, Company Share Analysis
- SECTION 18 - COMPANY PROFILES
- 18.1 Zimmer Biomet Holdings
- 18.1.1 Company Snapshot
- 18.1.2 Financial Overview
- 18.1.3 Product Portfolio
- 18.1.4 Recent Developments
- 18.2 Johnson & Johnson services Inc.
- 18.2.1 Company Snapshot
- 18.2.2 Financial Overview
- 18.2.3 Product Portfolio
- 18.2.4 Recent Developments
- 18.3 Stryker Corporation
- 18.3.1 Company Snapshot
- 18.3.2 Financial Overview
- 18.3.3 Product Portfolio
- 18.3.4 Recent Developments
- 18.4 Smith & Nephew
- 18.4.1 Company Snapshot
- 18.4.2 Financial Overview
- 18.4.3 Product Portfolio
- 18.4.4 Recent Developments
- 18.5 MicroPort Scientific Corporation
- 18.5.1 Company Snapshot
- 18.5.2 Financial Overview
- 18.5.3 Product Portfolio
- 18.5.4 Recent Developments
- 18.6 Exactech, Inc.
- 18.6.1 Company Snapshot
- 18.6.2 Financial Overview
- 18.6.3 Product Portfolio
- 18.6.4 Recent Developments
- 18.7 DJO Global, Inc.
- 18.7.1 Company Snapshot
- 18.7.2 Financial Overview
- 18.7.3 Product Portfolio
- 18.7.4 Recent Developments
- 18.8 B. Braun
- 18.8.1 Company Snapshot
- 18.8.2 Financial Overview
- 18.8.3 Product Portfolio
- 18.8.4 Recent Developments
- 18.9 Medacta International
- 18.9.1 Company Snapshot
- 18.9.2 Financial Overview
- 18.9.3 Product Portfolio
- 18.9.4 Recent Developments
- 18.10 Corin Group
- 18.10.1 Company Snapshot
- 18.10.2 Financial Overview
- 18.10.3 Product Portfolio
- 18.10.4 Recent Developments
- SECTION 19 - RELATED REPORTS
- SECTION 20 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.