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Hip Reconstruction Devices Market Size (2024 - 2029)

The hip reconstruction devices market is projected to experience growth over the forecast period, driven by factors such as the increasing incidence of hip fractures and osteoarthritis, as well as a growing geriatric population. The market's expansion is expected to continue as elective surgeries resume post-pandemic, despite initial setbacks due to COVID-19. Recent advancements and developments by key industry players are also anticipated to contribute positively to the market's growth trajectory. However, the high cost of treatment may pose a challenge to market expansion.

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Market Size of Hip Reconstruction Devices Industry

Hip Reconstruction Devices Market Summary
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

Hip Reconstruction Devices Market 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 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
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Hip Reconstruction Devices Market Size Summary

The hip reconstruction devices market is poised for growth, driven by the increasing incidence of hip fractures and osteoarthritis, alongside an expanding geriatric population. The market experienced initial setbacks due to the COVID-19 pandemic, which led to delays in non-urgent surgical procedures. However, as elective surgeries resumed, the market began to recover, with a steady demand for hip reconstruction devices anticipated globally. The aging population, particularly in regions like the European Union, is contributing to a higher prevalence of conditions requiring hip reconstruction, thereby fueling market expansion. Additionally, advancements in medical technology and surgical solutions by key players are expected to further propel market growth.

North America is projected to witness significant growth in the hip reconstruction devices market, supported by advanced healthcare infrastructure and a high incidence of hip-related conditions. The region's market is bolstered by the presence of leading industry players and recent technological developments, such as the USFDA's breakthrough device designations. The market remains moderately fragmented, with major companies like Zimmer Biomet, Johnson & Johnson, and Stryker playing pivotal roles. Despite the high cost of treatment posing a challenge, the overall outlook for the market is positive, with continued innovation and increasing adoption of hip resurfacing devices expected to drive future growth.

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Hip Reconstruction Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Incidence of Hip Fractures, and Hip Osteoarthritis

      2. 1.2.2 Expanding Geriatric Population

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of the Treatment

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Product Type

      1. 2.1.1 Primary Hip Reconstruction Devices

      2. 2.1.2 Partial Hip Reconstruction Devices

      3. 2.1.3 Hip Resurfacing Devices

      4. 2.1.4 Other

    2. 2.2 By End-User

      1. 2.2.1 Hospitals

      2. 2.2.2 Orthopedic Clinics

      3. 2.2.3 Others

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Hip Reconstruction Devices Market Size FAQs

The Hip Reconstruction Devices Market is projected to register a CAGR of 6.40% during the forecast period (2024-2029)

Zimmer Biomet, Johnson & Johnson, Stryker, Smith & Nephew and B. Braun Melsungen AG are the major companies operating in the Hip Reconstruction Devices Market.

Hip Reconstruction Devices Market Report Snapshots

Hip Reconstruction Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)