The Ceramic hip prosthesis market is expected to reach USD 2,321.0 Million by 2030, with a CAGR of 6.40% growing from USD 3,840.1 Million in 2020. Replacement surgery of the hip joint consists of the substitution of the joint with an implant to recreate the articulation functionality. Hip implants are made with a different combination of materials, such as ceramics, metals, and polymers. The specific characteristics required for biomaterials used in hip joint arthroplasty are being biocompatible, resisting heavy stress, opposing low frictional forces to sliding, and having a flat wear rate. According to the U.S. Census Bureau, the median age of the country rose from 35.3 years in 2000 to 37.9 years in 2016. Additionally, obesity continues to be a significant concern for the citizens, which invariably leads to the requirement of hip reconstruction.
The rise in the prevalence of osteoporosis, rheumatoid arthritis, and osteoarthritis among adults are the primary factors that trigger the growth of the ceramic hip prosthesis market. Moreover, increasing awareness about technological advancements to intensify the accuracy and reliability and the advent of non-metal materials, such as polymer and ceramic, is expected to help overcome problems associated with conventional devices, such as increased metallic ions in the bloodstream of the patients and deterioration of implants over time. The newer operating techniques have shortened hospital stay post full hip replacement surgery to less than four days. It is expected to boost the ceramic hip prosthesis market growth. Furthermore, the current trend of inclination towards minimally invasive surgery (MIS) is also one of the important factors projected to drive the growth of the ceramic hip prosthesis market. However, the cost of the overall procedure is acting as a hindering factor expected to restrain the market in emerging nations with unorganized insurance and reimbursement structure. Research and developments in the field of surgical equipment are anticipated to generate exceptional opportunities during the forecast period.
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Key coverage of the reaport:
- Region and country-wise assessment from the period 2019-2030. For the study, 2016-2017 has been utilized as historical data, 2019 as the base year, and 2020-2030 has been derived as forecasts for the Ceramic hip prosthesis market
- Company profiling with detailed strategies, financials, and recent developments.
- To define, describe, and forecast the global Ceramic hip prosthesis market with respect to the type of product, sales channel, material type, end-user, and region
- Strategical analysis of micro markets and macro markets with respect to individual growth trends, prospects, and contributions to the overall market.
- Demand and Supply GAP Analysis.
- Ceramic hip prosthesis market forecasts for a minimum of 6 years of all the mentioned segments, and the regional markets
- Analysis of the presence of ceramic hip prosthesis market in the country along with region-wise analysis and their market penetration across the regions; their structure, i.e., chain, independent, pharmacies, and hospitals; and the availability of ceramic hip prosthesis products.
- Detailed analysis of information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
- The regulatory framework of different nations is analyzed in detail.
- Key strategic initiatives of the Ceramic hip prosthesis industry like mergers, acquisitions, product developments, product launches, product agreements, regulatory approvals, collaborations, partnerships, market extensions, service launches and market penetration of the Ceramic hip prosthesis market players and their detailed analysis.
- Analysis of competitive intelligence through strategic developments and market opportunities for stakeholders with complete details of the market leaders.
- A comprehensive mapping of the competitive landscape and market participants behavior.
- Regional Competitors pipeline analysis of the Ceramic hip prosthesis market
- Complete Ceramic hip prosthesis market forecast & estimation of the global ceramic hip prosthesis market with respect to five central regions—North America, Asia Pacific (APAC), Europe, Latin America, and the Middle East and Africa (MEA).
Key trends of the market:
- Geographically, the ceramic hip prosthesis market in North America accounts for the largest share of the global market, followed by Europe and APAC in 2019.
- The large share can be accounted to the ceramic on polythene (COP) products owing to its lowest wear rate and fewer complications. The segment is anticipated to hold the largest share by revenue generated during the forecast period.
- Market players are continuously launching improved versions of their products, which, in turn, is leading to the growth of the segment For instance, in November 2016, Medacta International launched a new Master Loc Hip System in order to improve its hips implants product portfolio and the same product received its US FDA approval in May 2019.
- The companies are investing in research and development to develop advanced ceramic hip implants to benchmark themselves in the market. For instance, in May 2019, OrthoAlign, Inc. launched the Hip Align application that provides smart navigation technology during the surgery.
- The rise in the number of geriatric people, coupled with osteoporosis and arthritis, is one of the major driving factors for the ceramic hip prosthesis market.
- According to the World Health Organization (WHO), by 2050, nearly 160 million people will suffer from osteoarthritis, of whom 40 million will be severely disabled by this disease. This, along with other factors, including septic arthritis Hip fracture, rheumatoid arthritis, and ankylosing spondylitis, is anticipated to augment the growth of the ceramic hip prosthesis market in the analysis period.
Companies considered and profiled in this market study
Zimmer Inc.,(U.S), DePuy Synthes (U.S.), Stryker (U.K.), Smith & Nephew (U.K.), Waldemar LINK GmbH & Co. KG (Germany), Corin (U.K.), B. Braun Melsungen AG (Germany), Johnson & Johnson, DJO Global, Inc , and MicroPort Scientific Corporation.are some of the major players in the ceramic hip prosthesis market.
- The ceramic prosthesis market in North America is expected to grow at a CAGR of 6.5 % till 2026 from CAGR of 6.1% in the analysis period.
- This growth can be attributed to the rise in patient population, increase in fractures, hip osteoarthritis, technological advancements, and favorable reimbursement scenario.
- The Europe ceramic hip prosthesis market is anticipated to account for a remarkable market share of in 2026.
- The growing incidence of osteoarthritis and osteoporosis and the rising number of sports & road injuries are some significant factors supplementing the growth of the ceramic hip prosthesis market.
- The Asia Pacific is expected to register highest growth during the forecast period. Rapidly developing healthcare infrastructure due to the booming medical tourism industry is impelling market demand in this region.
- Moreover, the unmet needs of the vast population base in this region are predicted to push forward the growth of ceramic hip prosthesis in emerging economies of China and India in the forecast period
- New product launches and collaborative developments are some key strategic initiatives undertaken by the key players involved in the industry to sustain themselves in the intense competition in the ceramic hip prosthesis market. For instance, in October 2019, Zimmer Biomet collaborated with Apple to launch Zimmer Biomet mymobility, an app that utilizes Apple Watch to enable a new level of connection between patients and their surgical care teams.
- This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2026. For this study, Reports and Data have segmented the Ceramic hip prosthesis market into product, material type, sales channel, end-use, and region.
By Product type (Revenue, USD Million, 2019 – 2030)
- Total Hip
- Partial Femoral Head
- Hip Resurfacing
- Revision Hip
By Material type (Revenue, USD Million, 2019 – 2030)
By Sales channel type (Revenue, USD Million, 2019 – 2030)
- Channel sales
- Direct Sales
By End-user type (Revenue, USD Million, 2019 – 2030)
- Orthopedic Clinics
By Region (Revenue, USD Million; 2019-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
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