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Artificial Hip Joint Market Size, Growth, Industry Share, Emerging Trends and Future Outlook

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Artificial Hip Joint Market Share and Size Analysis

The market size of the Artificial Hip Joint industry is expected to reach USD 7.27 billion by the end of 2022 and is projected to further increase to USD 10.99 billion by 2030. This growth is driven by a healthy compound annual growth rate (CAGR) of 5.3% during the forecast period of 2023-2030.

The Artificial Hip Joint Market has witnessed significant expansion, and this trend is expected to continue in the coming years. The increasing prevalence of hip-related disorders and the growing aging population are key factors contributing to the market's growth. Additionally, advancements in medical technology and the rising demand for minimally invasive surgical procedures have further fueled the market's expansion.

Furthermore, the market is witnessing a surge in research and development activities, leading to the introduction of innovative and technologically advanced artificial hip joint products. These advancements aim to enhance patient outcomes, improve the durability and longevity of implants, and reduce post-operative complications.

Geographically, North America currently dominates the Artificial Hip Joint Market, owing to the region's well-established healthcare infrastructure and high adoption of advanced medical technologies. However, the Asia-Pacific region is expected to witness substantial growth during the forecast period, primarily due to the increasing healthcare expenditure, rising awareness about joint replacement surgeries, and the presence of a large geriatric population.

In conclusion, the Artificial Hip Joint Market is poised for significant growth in the coming years, driven by factors such as the rising prevalence of hip-related disorders, technological advancements, and increasing demand for minimally invasive procedures. As the market expands, it presents lucrative opportunities for industry players to develop innovative solutions and cater to the evolving needs of patients worldwide.

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KEY MARKET SEGMENTATION:

By Product type

  • Primary Hip Replacement Devices
  • Partial Hip Replacement Devices
  • Revision Hip Replacement Devices
  • Hip Resurfacing Devices

By Material type

  • Metal-on-plastic
  • Ceramic-on-plastic
  • Ceramic-on-ceramic
  • Others

By Fixation Material

  • Cemented Fixation
  • Cementless Fixation
  • Hybrid Fixation

By End Use

  • Hospitals 
  • Ambulatory Surgical Centers
  • Orthopedic clinics
  • Others

Some of the major key players are as follows:

Johnson and Johnson, Stryker Corporation, B. Braun, Zimmer Biomet Holdings, MicroPort Scientific Corporation, Smith and Nephew, DJO Global, Exactech, and other players.

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SNS Insider has been a leader in data and analytics globally with its authentic consumer and market insights. The trust of our clients and business partners has always been at the center of who we are as a company. We are a business that leads the industry in innovation, and to support the success of our clients, our highly skilled engineers, consultants, and data scientists have consistently pushed the limits of the industry with innovative methodology and measuring technologies.

We assist our clients to anticipate industrial, economic, and consumer trends to drive disruptive change by fusing global experience with local information from experts throughout the world. We bring context to strategic and tactical data by bridging approaches based on data science and field research, assisting you in addressing your most pressing problems and spotting possibilities.

Contact Us:

Akash Anand – Head of Business Development & Strategy,

[email protected],

Phone: +1-415-230-0044 (US) | +91-7798602273 (IND),

Website: https://www.snsinsider.com

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