Global Hip Replacement Market

The rise in R&D activities for surgical process, increase in the prevalence of obesity, rise in geriatric population across the globe, active government help in funding and development, and growth in the number of patients undergoing hip replacement surgery are the drivers for the growth of the hip replacement market globally.In addition to that, the frequency of osteoarthritis is increasing at a constant rate, and rise in number of accidents are also responsible for the growth of the market.

The hip replacement market is segmented by type. It includes total hip replacement, partial hip replacement, and revision and hip resurfacing. The total hip replacement has dominated the market, due to rise in total hip arthroplasty. However,the revision and hip surfacing market are forecasted to grow at a significant rate, due to rise in the number of people opting for hip implants, and new product launches in the market. According to the Rheumatology advisor article, researchers said that the total annual counts of total hip arthroplasty increased to 498k replacements in 2020, 652k replacements by 2025, 850k replacements by 2030, and 1,429k replacements by 2040.