Hip Replacement Market Trends

Growth Drivers

Growing Geriatric Population - With ageing, the body might alter, which can also affect the health. One part of the body where changes can occur over time and cause chronic pain and even disability is the hips. Hence owing to this factor the hip replacement market is expected to grow over the forecast period. According to the National Institutes of Health, Over the next three decades, the number of Americans aged 65 and older is expected to nearly double, rising from 48 million to 88 million by 2050.
Growth in Spending over Healthcare - The study demonstrated by World Health Organization shows that between 2000 and 2018, global health spending increased steadily, reaching USD 8.3 trillion, or 10% of global GDP.
Growing Prevalence of Rheumatoid Arthritis - The most prevalent type of autoimmune arthritis is RA. More than 1 million Americans are impacted by it.
Increase in Number of Hip Fracture - Each year, approximately 76,000 hip fractures occur in the United Kingdom.
Rise in Number of Individuals Suffering from Degenerative Diseases - According to the World Health Organization, almost 10 million new cases of dementia are diagnosed each year, and there are already over 55 million people living with the condition worldwide.

Challenges

Side Effects of Replacement Surgeries - Owing to the device defects people are expected to suffer various side effects including allergic reactions, metal poisoning, infection, bone lose, and more. Hence owing to this factor the market is expected to be retrained during the forecast period.
High Price of the Procedure
Stringent Government Regulation

Hip Replacement Market: Key Insights

Base Year	2022
Forecast Year	2023-2033
CAGR	~6%
Base Year Market Size (2022)	~ USD 7 Billion
Forecast Year Market Size (2033)	~ USD 10 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

Base Year	2024
Forecast Year	2025-2037
CAGR	6.3%
Base Year Market Size (2024)	USD 7.92 billion
Forecast Year Market Size (2037)	USD 17.27 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of hip replacement is estimated at USD 8.31 billion.

The hip replacement market size was valued at USD 7.92 billion in 2024 and is likely to cross USD 17.27 billion by the end of 2037, registering more than 6.3% CAGR during the forecast period i.e., between 2025-2037. The market growth is driven by growing geriatric population, growth in spending over healthcare, growing prevalence of rheumatoid arthritis, and others.

North America industry is projected to dominate majority revenue share by 2037, owing to rising number of hip arthroplasty, high expenditure on health expenditure, growth in healthcare sector, increasing disposable income and other factors in the region.

The major players in the market include Zimmer Biomet, Johnson & Johnson Private Limited, Stryker Corporation, Smith & Nephew, B. Braun SE, Wright Medical Group N.V., Corin Group, Exactech, Inc., DJO LLC, Waldemar Link GmbH & Co. KG.

Hip Replacement Market Trends