Global Hip Replacement Market was valued at USD 7.48 billion in 2021 and is expected to reach USD 8.89 billion by the year 2028, at a CAGR of 2.5%.
The hip joint is one of the most vital joints in the human body. The human body movement of walking, running, and jumping are all possible because of hip joints. Hip joints bear the weight of the body and the force of the strong muscles of the hip and leg. The hip joint falls under the category of ball and socket thus, it is one of the most flexible joints in the human body and allows a greater range of motion than all other joints in the body except the shoulder joint. Hip replacement is a surgical procedure in which a painful hip joint is replaced by a healthcare professional with an artificial joint-mostly made from metal and plastic components. This procedure is usually done when all other treatment options have failed to provide pain relief to the individual. A hip replacement procedure replaces a painful hip joint, thus making walking easier. Moreover, hip replacement procedures have become easier due to minimally invasive surgical procedures. This procedure also decreases the hospital stay period as well boosts the recovery. Robots are also employed for surgical procedures thus, increasing the accuracy and efficiency of hip replacement surgical procedures. The growing prevalence of arthritis and increase in the number of accidents has stimulated the expansion of the hip replacement market.
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Key Prominent Players in The Hip Replacement Market:
ConMed Corporation (US),DJO LLC (US),B. Braun Melsungen AG (Germany),OMNIlife Science Inc. (US),Exactech Inc. (the US),MicroPort Scientific Corporation (China),Smith & Nephew plc (UK),Stryker Corporation (US),Johnson & Johnson (US),Zimmer Biomet (US),Medacta International (Switzerland) and other major players.
The latest research on the Hip Replacement market provides a comprehensive overview of the market for the years 2023 to 2030. It gives a comprehensive picture of the global Hip Replacement industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter's five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Hip Replacement market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind: to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
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Market segmentation
The Hip Replacement market is segmented by type and application. Growth between segments over the period 2023-2030 provides accurate calculations and forecasts of revenue by type and application in terms of volume and value. This analysis can help you expand your business by targeting eligible niches.
Hip Replacement Market Segment by Type, Estimates, and Forecast by 2028
Total Hip Replacement,Partial Hip Replacement,Hip Resurfacing,Revision Hip Replacement
Hip Replacement Market Segment by Applications, Estimates, and Forecast by 2028
Hospitals & Surgery Centers,Orthopaedic Clinics,Others
Market Segment by Regions and Countries Level Analysis:
§ North America (U.S., Canada, Mexico)
§ Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
§ Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
§ Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
§ Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
§ South America (Brazil, Argentina, Rest of SA)
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Industry experts have identified key factors influencing the pace of development of the Hip Replacement industry, including various opportunities and gaps. A thorough analysis of the Hip Replacement market for the growth trends of each category makes the overall study interesting. When studying the market, researchers also dig deep into their future prospects and their contribution to the industry. Additionally, the research report evaluated the market key players and features, such as capacity utilization rate comprised of revenue.
Hip Replacement Report provides insights into the following queries:
1.Market growth rate and growth momentum of Hip Replacement market for the period 2023-2030
2. The estimated size of the Hip Replacement market for the period 2023-2030
4. Sales (volume), revenue, and value analysis by regions of Hip Replacement market
5. The associated market risk, opportunity, and market overview of the Hip Replacement market
6. Major distributors, dealers, end-users, and traders of the Hip Replacement market?
This study conducts a SWOT analysis to evaluate the strengths and weaknesses of key players in the Hip Replacement market. Additionally, the report performs a complex inspection of drivers and restraints operating in the market. The report also evaluates the observed trends in the parent market along with macroeconomic indicators, dominant factors and market attractiveness in relation to other segments. The report forecasts the impact of various industry aspects on the Hip Replacement market segments and regions.
Key Reasons To Invest In Hip Replacement Market Report:
- To provide a complete structure and a basic overview of the Hip Replacement industry market.
- To provide insights into important Hip Replacement aspects such as growth trajectory, CAGR value, market share, and revenue analysis.
- Assess growth opportunities, threats, market drivers, and associated risks.
- To understand the global Hip Replacement market competition by analysing the top business people along with market profiles, import/export details, revenue, profit, and market shares.
- Indicate pricing structure, import/export details, supply chain analysis, SWOT analysis to facilitate key decision-making process.
- Analysing emerging Hip Replacement market segments and sub-segments to drive ultimate growth, investment analysis, and future growth opportunities.
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