Overview
Valued at ~$5.62 billion in 2022, the hip replacement implants market is projected to reach
~$7.15 billion by 2028, increasing at a CAGR of 4.1% over the 2022-2028
forecast period. This Market Snapshot is part of LSI’s Market Intelligence platform, your
one-stop-shop for global medtech market sizing and analysis, procedure volume data, startup company- and
deal-tracking, curated insights, and more.
Hip replacement implants are prosthetic devices used to replace damaged sections of the hip joint. A hip
replacement procedure can be a total or a semi/hemi replacement. Hip replacement implants can be constructed
from ceramic, plastic, or metal. The procedure is performed in patients whose hip has been damaged due to
degenerative diseases (e.g., osteoarthritis) or traumatic events (e.g., fracture).
Products included within the scope of this analysis include:
Prosthetic hip replacement implants
This Market Snapshot is intended to provide a high-level overview of the global market for hip replacement
implants, with key insights into:
Unit volumes from 2022 to 2028
Market forecasts from 2022 to 2028
Market insights
Competitive landscape analysis of major competitors
Insights into key market events for strategic and startups
Hip Replacement Implants Market Snapshot Summary
| Snapshot Aspect | Data and Details |
| Base Year for Estimate | 2022 |
| Forecast Period | 2022 - 2028 |
| Market Size in 2023 | $5.62 billion |
| CAGR | 4.1% |
| Projected Market Size in 2028 | $7.15 billion |
Hip Replacement Implants Market Insights
The hip replacement implants market is experiencing steady growth, primarily driven by the aging global
population and the increasing prevalence of age-related conditions such as osteoarthritis, which cause the
gradual degeneration of the hip joint. This demographic shift is fueling demand for hip replacement procedures.
The market’s dollar-volume growth is largely supported by the rise in procedure volumes, along with inflation
and advancements in implant technology.
In the United States, the largest market for total hip replacements, the trend toward ambulatory surgery centers
(ASCs) and outpatient procedures contributes to the market’s expansion. The Centers for Medicare & Medicaid
Services (CMS) added total hip arthroplasty to the ASC covered procedures list (CPL) in 2021, helping reduce
patient and provider costs and further boosting procedure volumes. Additionally, despite being underutilized
compared to standard implants, the increasing adoption of custom implants offers significant growth potential
due to their higher selling prices. As technological advancements and the shift to outpatient care continue, the
hip replacement implants market is poised for long-term growth.
Competitive Landscape
The full Market Snapshot includes a robust analysis of the competitive landscape for the hip replacement
implants market. This includes estimated market revenue and market share for key players, such as Zimmer Biomet,
DePuy Synthes/Johnson & Johnson, and Stryker.
Select Market Events
| Company | Date | Type | Event |
|
Zimmer Biomet
|
5/2023 | M&A | Zimmer Biomet announced a definitive agreement to acquire OSSIS, a privately held medtech company that develops and commercializes personalized, 3D-printed hip implants. |
|
Johnson & Johnson
|
10/2023 | Strategic Initiative | J&J announced that the company intends to restructure its orthopedics business over the next two years. |
Key Companies Covered
B. Braun
DePuy Synthes
DJO Global
Exactech
Johnson & Johnson
Medacta
MicroPort Scientific
Ortho Development
OSSIS
SERF SAS
Smith+Nephew
Symbios Orthopédie
Total Joint Orthopedics
Zimmer Biomet
