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Description
Hip Replacement Market size was valued at USD 5.74 billion in 2021, growing at a CAGR of 4.4% during the forecast period 2022-2028. A hip replacement implant is a common operation that addresses hip joint stiffness. The four types of total hip replacement include primary hip reconstruction, partial hip reconstruction, hip resurfacing, and revision hip implants. Fixed-bearing total hip implants and mobile-bearing total hip implants are the two types of total hip replacement implants. The global hip replacement market in recent times has become mature market in developed regions, where the hip replacement devices have become commoditized with several players are need to provide low priced products in order to sustain the market position, this is expected to improve the adoption rate of devices over the short term and projected to drive market value and volume of hip replacement market growth over the forecast period. Moreover, favourable reimbursement policies are expected to drive the market revenue growth positively over a short-term period. This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the market report includes technology advancements; regulatory scenario and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed hip replacement market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and unmet needs (Product Opportunities). For instance, in U.S, the hip and knee replacement cost to Medicare is more than USD 7 Bn in hospital cost.
