Dublin, March 11, 2025 (GLOBE NEWSWIRE) — The “Hip Replacement Market Report by Product, End-User, Regions and Company Analysis 2025-2033” report has been added to ResearchAndMarkets.com’s offering.Hip replacement market will grow, reaching nearly US$10.24 billion by 2033; by contrast, in 2024, it was US$6.92 billion. This increase is estimated to be a compound annual growth rate of 4.45% from 2025 to 2033. Some reasons for such an expansion are a growing older population, increasing cases of obesity, and enhanced surgical techniques through medical technology, which improves recovery times and outcomes for patients who undergo hip replacements. Hip replacement is a type of surgery wherein a diseased or damaged hip joint is removed and replaced with an artificial substitute, usually metal, ceramic, or plastic. This surgery is usually recommended to patients who suffer from severe pain, reduced mobility, or deteriorating joints brought about by diseases like arthritis, fractures, or any other conditions. The surgery is likely to have a great improvement in the quality of life through the relief of pain and joint functioning, which may enable patients to live their lives better. Hip replacement has been a very popular procedure for many years because of improvements in surgical techniques and implant technology. Minimally invasive approaches and durable materials have reduced recovery times and improved outcomes. Moreover, an aging population and the prevalence of osteoarthritis have contributed to the rising demand for this procedure. Younger patients also opt for hip replacements as active lifestyles lead to joint wear and injuries. High success rate, better access to healthcare, and awareness increase its acceptance, making it a standard treatment option worldwide. Growing Factors for Hip Replacement Market Aging Population Worldwide The major driver for increasing hip replacement demand is due to the aging population worldwide. With advancing age, the conditions like osteoarthritis and hip fracture enhance the trend for joint replacement surgery. The elderly is more likely to experience joint degeneration, causing pain and limited mobility. With an increasing number of elderly individuals seeking solutions to maintain independence and quality of life, the demand for hip replacements is expected to rise, particularly in developed countries with aging demographics. By 2030, 1 in 6 people will be 60 years or over. The share of population aged 60 years and over is going to be 1.4 billion in the year 2020 to 1.4 billion, which will increase double times, or 2.1 billion by 2050. The population aged 60 years and above in the world is going to increase threefold. The persons aged 80 years or more will be around 426 million by 2050. Advancements in Implant Technology Technological advancements in the implant materials and surgical techniques have dramatically improved the success rate of hip replacements. The modern implants are made from long-lasting materials like ceramics, titanium, and alloys, providing more durable results with less wear. Furthermore, minimal invasive techniques bring quicker recovery, smaller incisions, and less risk of complications. These innovations make hip replacement surgery more attractive to patients and healthcare providers, driving market growth by enhancing the quality of care and outcomes. Increasing Awareness and Accessibility The awareness of the benefits of hip replacement surgery and the accessibility of health care have also driven the market forward. More patients are aware of the options for treatment for hip pain and mobility problems, thus leading to earlier intervention. Additionally, rising coverage of healthcare systems and insurance policies for joint replacement surgeries further reduce the procedure’s cost. Specialized surgeons and better infrastructure for healthcare facilitate easy access for patients to the hip replacement surgery, thus supporting market growth. For example, as per the report from a study in the National Center of Biotechnology Information, a total of about 572,000 total hip arthroplasty cases will be reported by the year 2030. Additionally, as per the American Joint Replacement Registry study in 2022, between 2012 and 2021 in the U.S., there were about 2,550,530 hip and knee arthroplasty procedures, including both primary and revision surgeries, out of which around 37.3% were primary hip surgeries. Challenges in the Hip Replacement Market High Surgery Costs Despite growing demand, one of the significant challenges in the hip replacement market is the high cost of the procedure, including hospital stays, surgical fees, and post-surgery rehabilitation. These costs can be prohibitive for patients without adequate insurance coverage, particularly in developing countries or regions with less accessible healthcare. High costs can limit the adoption of hip replacement surgery, especially among middle-income populations, creating barriers to access and slowing market growth in specific demographics. Risk of Complications and Revisions Hip replacement surgeries are typically very successful. However, it is not impossible to have associated risks with such a procedure as infections, blood clots, and implant failure. Some people may need their implants revised either because they break down, work loose, or cause complications to the patient at a later stage. This has implications on increasing healthcare costs, which may go on for a while. Challenges include complications, potential revision surgeries, and impact on the general perception of the procedure by both patients and providers.

Hip Replacement Market Report and Company Analysis 2025-2033 Featuring Smith & Nephew, J&J, Integra, Zimmer Biomet, Stryker, B. Braun Melsungen, Globus Medical, MicroPort Scientific, Conformis

The 'Hip Replacement Market Report by Product, End-User, Regions and Company Analysis 2025-2033' report highlights the projected growth of the hip replacement market, reaching nearly US$10.24 billion by 2033. This growth is attributed to factors such as a growing older population, increasing cases of obesity, and advancements in surgical techniques and implant technology. The report also includes detailed company analyses of industry leaders like Smith & Nephew, J&J, Integra, Zimmer Biomet, Stryker, B. Braun Melsungen, Globus Medical, MicroPort Scientific, and Conformis.