Global Hip Replacement Market

Global Hip Replacement Market was at US$ 6.54 Billion in 2022:

Relying on geographic regions, the hip replacement market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa. North America is expected to dominate the market share, owing to rise in the patients of arthritis, and government’s favourable reimbursement policies.

However, Asia-Pacific region is anticipated to grow at an increasing rate over the forecast period, due to the rise in government expenditure for the healthcare sector, and increase in the number of arthritis patients. Moreover, rise in the elderly population of the region also propels the growth of the market. In 2016, around 12.4% of the region’s population was aged 60 years and older, and this number is forecasted to increase at a significant rate and reach to 1.3 billion by 2050, as per the United Nations Report.