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Report overview
The global Hip Implants market size was valued at US$ 7.23 billion in 2024 and is projected to reach US$ 9.87 billion by 2030, at a CAGR of 5.3% during the forecast period 2024-2030.
The United States Hip Implants market size was valued at US$ 2.56 billion in 2024 and is projected to reach US$ 3.41 billion by 2030, at a CAGR of 4.9% during the forecast period 2024-2030.
Hip implants are medical devices used to replace damaged or diseased hip joints, restoring mobility and reducing pain in patients suffering from conditions such as osteoarthritis, rheumatoid arthritis, and hip fractures.
The global Hip Implants market is experiencing steady growth, driven by an aging population, increasing prevalence of osteoarthritis, and advancements in implant materials and surgical techniques. In 2023, total procedure volume reached 2.8 million globally, with primary total hip replacements accounting for 75% of procedures.
The market saw a 12% increase in demand for ceramic-on-ceramic bearings in 2023, reflecting the trend towards more durable and low-wear implants. Cementless implants dominate with a 70% market share, growing at 6% annually due to their long-term fixation benefits. North America leads with a 45% market share, while Asia Pacific is the fastest-growing region at 7.2% CAGR.
The industry is focusing on developing 3D-printed custom implants, with a 30% growth in R&D investments for patient-specific solutions. Additionally, there's a growing trend towards outpatient hip replacement procedures, increasing at 15% annually, driven by improved surgical techniques and cost-efficiency.
Report Overview
Hip resurfacing is a technique designed to reline the worn out joint, instead of being replaced completely as in total hip replacement procedure.
This report provides a deep insight into the global Hip Implants market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Hip Implants Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Hip Implants market in any manner.
Global Hip Implants Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
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