Hip Reconstruction Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Hip Reconstruction Devices Market Analysis
The hip reconstruction devices market is expected to register a CAGR of 6.4% over the forecast period.
The COVID-19 pandemic had an adverse impact on the hip reconstruction devices market initially, with the temporary delay or cancellation of non-COVID treatment and surgical interventions. The risk of the virus reduced the number of patients visiting the hospital for non-COVID issues. For instance, a study published in the Arthroplasty in August 2022 highlighted that the volume of total hip arthroplasty (THA) decreased by 24.5% from the pre-pandemic period due to the outbreak of SARS-CoV-2. However, in the post-pandemic period, the market is expected to grow at a normal pace with the resumption of elective, non-COVID, and non-urgent procedures. For instance, in January 2022, the hospital system in Indiana, United States, resumed elective surgeries, such as hip replacements and tonsillectomies, that were postponed during the pandemic. Thus, the COVID-19 outbreak adversely impacted the market's growth in its preliminary phase. Moreover, the market is expected to grow further at a normal pace with the resumption of elective surgeries and the increasing demand for hip reconstruction devices globally.
Further, the hip reconstruction devices market is expected to grow with the increasing incidences of hip fractures, hip osteoarthritis, and the expanding geriatric population. The incidence of hip fractures and hip osteoarthritis has been increasing and is expected to increase the demand for hip reconstruction surgeries for the management of any hip injury, pain, and other symptoms. For instance, a study published in the Irish Journal of Medical Science in April 2022 stated that the number of hip fractures increased by 12.88% in Ireland in 2021. Further, as per the data published by the OECD stats in 2023, over 46,368 and 13,815 procedures of hip replacements were performed in Turkey and Denmark, respectively, in 2021. Thus, with the increasing cases of hip fractures, the demand for hip reconstruction surgeries is anticipated to increase, which is expected to drive the growth of the hip reconstruction devices used in surgeries globally.
Furthermore, the expanding geriatric population has a major impact on the hip reconstruction devices market. The aged individuals have a high risk of developing hip osteoarthritis and getting a hip injury, which requires hip reconstruction surgery for the management of the condition. For instance, as per the data published by Eurostat in 2022, the percentage of individuals aged 65 years and above has been increasing in the European Union region. The source stated that in 2021, the share of individuals aged 65 years and above out of the total population was 20.7%, and in 2022, it increased to 21.0% in France. The same source also mentioned that the share of individuals aged 65 years and above out of the total population was 19.8%, and in 2022, it increased to 20.1% in Spain. Thus, with the expanding geriatric population and the high risk of hip fracture and hip osteoarthritis, the demand for hip reconstruction surgeries is expected to increase, which would drive the demand for hip replacement devices.
Also, the recent developments by the key players are expected to boost the growth of the market. For instance, in June 2022, Smith+Nephew stated that the first successful surgery with its preoperative spinopelvic assessment tool, RI. HIP MODELER for the total hip arthroplasty (THA) procedure was performed at Duke University, United States. Such positive results with the usage of devices are expected to contribute to an increase in the adoption of devices and hence boost the growth of the market. Further, in March 2022, Johnson & Johnson MedTech acquired the portfolio of CUPTIMIZE hip-spine analysis by the Orthopaedics Company of Johnson & Johnson DePuy Synthes. The acquisition of the CUPTIMIZE hip-spine analysis portfolio would enhance the surgical solution portfolio of DePuy Synthes. The system offers an easy-to-use tool for a better understanding of the abnormal motion between the spine and pelvis. The system would also enhance the surgical planning capabilities of the DePuy Synthes' VELYS digital surgery platform.
Therefore, owing to the aforementioned factors, including the high burden of hip fracture, expanding geriatric population, and the recent developments by the key players, the studied market is anticipated to witness growth over the analysis period. However, the high cost of the treatment is likely to impede market growth.
Hip Reconstruction Devices Market Trends
The Hip Resurfacing Devices Segment is Expected to Witness Significant Growth Over the Forecast Period
A hip resurfacing device is a metal prosthesis implant used in hip resurfacing surgery to retreat certain bones in the hip region of the body. This implant manages pain and replaces the damaged bone and tissue, such as cartilage, for more fluid movement. Hip resurfacing devices are being increasingly used for the management of hip pain and other issues. Several studies have highlighted hip resurfacing surgery's efficacy, safety, and long-term benefits. For instance, a study published in the Canadian Journal of Surgery in May 2022 underlined the effective functional outcomes of the Birmingham hip resurfacing (BHR) for osteoarthritis. The study also stated that the BHR offered more than 10 years of long-term durability in men. The women who underwent the Birmingham hip resurfacing surgery have been observed to have the same Harris Hip Score (HHS) and visual analog scale (VAS) as the men who underwent the same surgery.
Further, a study published in Orthopaedics & Traumatology in February 2022 highlighted the short-term outcomes of hip resurfacing surgeries, which showed very low numbers of complications related to metal-on-metal bearing surfaces. The study showcased the long-term beneficial effects of hip resurfacing surgeries based on the data from the French hip resurfacing registry. Thus, the long-term benefits, high efficacy, and safety of hip resurfacing surgeries using the hip resurfacing device are expected to be adopted more in the future for the management of hip pain, mobility, and other issues. This would create more demand for the hip resurfacing device in the future.
Furthermore, the recent developments by the key players in the area of hip resurfacing devices are also expected to boost the growth of the segment. For instance, in May 2022, Exactech received the breakthrough device designation from the USFDA for its JointMedica's polymotion hip resurfacing system. Further, in January 2022, Exactech, Inc. acquired a minority interest in JointMedica Limited, an orthopedic device designer and manufacturer. Under the acquisition, both companies would collaborate to offer the next generation of hip resurfacing with the primary product of JointMedica Limited, Polymotion® hip implant.
Therefore, the hip resurfacing device segment is expected to witness significant growth over the forecast period due to the abovementioned factors, including its high efficacy, long-term benefits and safety, and recent developments by the key players.
North America is Expected to Witness Significant Growth Over the Forecast Period
North America is expected to witness significant growth over the forecast period, owing to factors such as the advanced healthcare infrastructure, the high burden of hip fractures and hip osteoarthritis, and the presence of leading players. The region has a high number of hip fracture cases, especially among elderly individuals; for instance, as per the data published by the American Joint Replacement Registry Annual Report 2022, over 2.6 million cases of hip and knee arthroplasty procedures were performed in 2021 in the United States. Out of these 2.6 million cases, primary hip procedures comprised 37.3% of the total cases. Further, the data published by the Canadian Institute for Health Information (CIHI) in June 2022 mentioned that over 55,300 hip replacements were performed in Canada in 2020-21.
The key developments by the market players in the region also bolster the growth of the hip reconstruction market. For instance, in May 2022, Exactech received the breakthrough device designation from the USFDA for its JointMedica's polymotion hip resurfacing system. The hip resurfacing system is intended for the polymotion hip resurfacing development and offers better mobility in the patients. Further, in August 2021, Zimmer Biomet Holdings, Inc. received the USFDA 510(k) clearance for its robotic system, ROSA Hip System, which is used in surgeries to direct surgeons for the evaluation and execution of a surgical plan based on its real-time feedback and the unique anatomy of the patient.
Therefore, owing to the aforementioned factors, including the high burden of hip fracture and the recent developments of the key players, the growth of the studied market is anticipated in the North American region.
Hip Reconstruction Devices Industry Overview
The hip reconstruction devices market is moderately fragmented in nature due to the presence of a few companies operating globally as well as regionally. The key palyers operating in the market includes, Zimmer Biomet, Johnson & Johnson, Stryker, Smith & Nephew, and B. Braun Melsungen AG.
Hip Reconstruction Devices Market Leaders
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Zimmer Biomet
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Johnson & Johnson
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Stryker
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Smith & Nephew
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B. Braun Melsungen AG
*Disclaimer: Major Players sorted in no particular order
Hip Reconstruction Devices Market News
- February 2023: Exactech, in collaboration with JointMedica, successfully completed the first hip resurfacing procedure using the novel JointMedica polymotion hip implant. The hip implant is based on a metal-on-polyethylene articulation.
- January 2023: Hip Innovation Technology LLC initiated the FDA-approved investigational device exemption study, which includes its HIT (hip innovation technology) reverse hip replacement system (Reverse HRS) under an FDA-approved investigational device exemption (IDE) in the United States.
Hip Reconstruction Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidence of Hip Fractures, and Hip Osteoarthritis
4.2.2 Expanding Geriatric Population
4.3 Market Restraints
4.3.1 High Cost of the Treatment
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product Type
5.1.1 Primary Hip Reconstruction Devices
5.1.2 Partial Hip Reconstruction Devices
5.1.3 Hip Resurfacing Devices
5.1.4 Other
5.2 By End-User
5.2.1 Hospitals
5.2.2 Orthopedic Clinics
5.2.3 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Zimmer Biomet
6.1.2 Johnson & Johnson
6.1.3 Stryker
6.1.4 Smith & Nephew
6.1.5 B. Braun Melsungen AG
6.1.6 Waldemar Link GmbH & Co. KG
6.1.7 Surgival
6.1.8 Exactech, Inc.
6.1.9 Limacorporate S.p.a.
6.1.10 Microport
6.1.11 Hip Innovation Technology LLC
6.1.12 JointMedica
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Hip Reconstruction Devices Industry Segmentation
As per the report's scope, hip reconstruction devices are used in surgeries that often occur after hip fractures. The hip reconstruction devices market is segmented by product type (primary hip reconstruction devices, partial hip reconstruction devices, hip resurfacing devices, and other products), end-user (hospitals, orthopedic clinics, and others), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD) for the above segments.
| By Product Type | |
| Primary Hip Reconstruction Devices | |
| Partial Hip Reconstruction Devices | |
| Hip Resurfacing Devices | |
| Other |
| By End-User | |
| Hospitals | |
| Orthopedic Clinics | |
| Others |
| Geography | ||||||||
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Hip Reconstruction Devices Market Research FAQs
What is the current Hip Reconstruction Devices Market size?
The Hip Reconstruction Devices Market is projected to register a CAGR of 6.40% during the forecast period (2024-2029)
Who are the key players in Hip Reconstruction Devices Market?
Zimmer Biomet, Johnson & Johnson, Stryker, Smith & Nephew and B. Braun Melsungen AG are the major companies operating in the Hip Reconstruction Devices Market.
Which is the fastest growing region in Hip Reconstruction Devices Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Hip Reconstruction Devices Market?
In 2024, the North America accounts for the largest market share in Hip Reconstruction Devices Market.
What years does this Hip Reconstruction Devices Market cover?
The report covers the Hip Reconstruction Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Hip Reconstruction Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hip Reconstruction Devices Industry Report
Statistics for the 2024 Hip Reconstruction Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hip Reconstruction Devices analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Hip Reconstruction Devices Market Report Snapshots
