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Hip Replacement Market Size Worth USD 9.91 Billion by 2028 | Report by Fortune Business Insights

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Pune, India, Jan. 16, 2023 (GLOBE NEWSWIRE) — The global hip replacement market size is projected to hit USD 9.91 billion by 2028 and exhibit a CAGR of 5.3% during the forecast period. The increasing number of hip replacement surgeries due to the growing prevalence of osteoarthritis is anticipated to boost the market growth. The rising geriatric population and the improving patient knowledge for such surgeries are also expected to stimulate market growth. Fortune Business Insights™ has presented this information in its report titled, “Hip Replacement Market Forecast, 2023-2028”. The market size stood at USD 6.57 billion in 2020.

Key Industry Development

OrthoGrid Systems Inc. launched OrthoGrid Hip Software application to provide advanced technology for direct anterior approach total hip arthroplasty for the company’s artificial intelligence-enabled digital platform.

Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/hip-replacement-implants-market-100247

Report Scope & Segmentation

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Report Coverage Details
Forecast Period 2021 to 2028
Forecast Period 2021 to 2028 CAGR 5.3%
2028 Value Projection USD 9.91 Billion
Base Year 2020
Market Size in 2020 USD 6.57 Billion
Historical Data 2017 to 2019
No. of Pages 115

Key Takeaways from the Hip Replacement Market Report:

  • The emergence of 3D printed implants is expected to create new growth opportunities in the market.
  • Increasing prevalence of osteoarthritis is a major factor boosting the hip replacement market growth.
  • The orthopedic clinics segment to showcase highest CAGR by 2028.
  • Revision and resurfacing procedure segment at 74.3%, leads the global market share.
  • The Hip Replacement Market in North America created revenue of USD 2.30 billion in 2020.

Driving factors:

Increasing Demand for Customized Implants to Spur Market Growth

With the increasing geriatric population and the growing prevalence of hip osteoarthritis, the market is expected to grow exponentially in the forthcoming years. The improving replacement procedures and the evolving technology are expected to fuel the demand for hip replacement. Additionally, the growing support from governments of various nations is likely to expand the hip replacement market growth. For instance, the Comprehensive Care for Joint Replacement (CJR) model initiated by Centers for Medicare and Medicaid Services in 2016 provides patients a reimbursement ranging from USD 16,500 to USD 33,000.

The advent of 3D printed implants is expected to create new opportunities for growth in the market. 3D printed implants replace conventional implants and facilitate more convenience. The growing adoption of robots to assist surgical procedures is also expected to create a growth spur.

However, the high costs of surgery and the complications arising post-surgery may act as a restraint to market growth.

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Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/hip-replacement-implants-market-100247

Regional Analysis:

North America Poised to Dominate Global Market

North America is anticipated to dominate the global hip replacement market share in the forthcoming years. This is attributable to the growing hip arthroplasty procedures and rising collaborations amongst key players in the region. For instance, Medacta International launched MiniMAX Hip in November 2018 to provide hip replacement surgery with minimal meddling.

The rising number of surgeries, increasing need for customized implants, and propitious health reimbursements are expected to expand market growth in Europe.

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The rising geriatric population, increasing government support, and rising hip osteoarthritis prevalence are expected to help Asia Pacific witness significant growth in the forthcoming years.

Enhancing medical distribution network and rising medical tourism is expected to flourish the market in Latin America.

The increasing number of orthopedic clinics with advanced equipment and advanced training to enhance healthcare professionals’ skills is anticipated to expand the market growth in the Middle East & Africa.

Quick Buy – Hip Replacement Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100247

Some of the Prominent Companies in the Hip Replacement Market Include:

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  • Zimmer Biomet (Indiana, U.S.)
  • DePuy Synthes Companies (Johnson & Johnson Services, Inc.) (Raynham, MA, U.S.)
  • Smith & Nephew (London, U.K.)
  • Stryker (Michigan, U.S.)
  • Exactech, Inc. (Florida, U.S.)
  • Gruppo Bioimpianti s.r.l (Milan, Italy)
  • Conformis (Massachusetts, U.S.)s
  • MicroPort Scientific Corporation (Shanghai, China)
  • B. Braun Melsungen AG (Melsungen, Germany)

Some major points from Table of Content:

  • Global Hip Replacement Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Procedure
      • Total Hip Replacement
      • Partial Hip Replacement
      • Revision & Hip Resurfacing
    • Market Analysis, Insights and Forecast – By End User
      • Hospitals & Ambulatory Surgery Centers
      • Orthopedic Clinics
      • Others
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East & Africa
  • North America Hip Replacement Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Procedure
      • Total Hip Replacement
      • Partial Hip Replacement
      • Revision & Hip Resurfacing
    • Market Analysis, Insights and Forecast – By End User
      • Hospitals & Ambulatory Surgery Centers
      • Orthopedic Clinics
      • Others
    • Market Analysis, Insights and Forecast – By Country
      • U.S.
      • Canada
  • Europe Hip Replacement Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Procedure
      • Total Hip Replacement
      • Partial Hip Replacement
      • Revision & Hip Resurfacing
    • Market Analysis, Insights and Forecast – By End User
      • Hospitals & Ambulatory Surgery Centers
      • Orthopedic Clinics
      • Others
    • Market Analysis, Insights and Forecast – By Countries/ Sub-region
      • U.K.
      • Germany
      • France
      • Spain
      • Italy
      • Scandinavia
      • Rest of Europe

TOC Continued..

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Orthopedic Joint Replacement Market Size, Share, Revenue Forecast and Opportunities

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About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Contact Us:

Fortune Business Insights™ Pvt. Ltd.

Pune – 411045, Maharashtra, India.

Phone:

US :+1 424 253 0390

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UK : +44 2071 939123

APAC : +91 744 740 1245

Email: [email protected]

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Darwinbox named as a Customers’ Choice in the 2024 Gartner® Peer Insights™ Voice of the Customer for Cloud HCM Suites Report for Enterprises with 1,000+ Employees

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DUBAI, UAE, June 17, 2024 /PRNewswire/ — Darwinbox, a global leader in cloud-based HCM solutions, today announced that it has been distinguished as a Customers’ Choice in the 2024 Gartner® Peer Insights™ Voice of the Customer for Cloud HCM Suites for 1,000+ Employee Enterprises.

The Gartner® Peer Insights™ Customers’ Choice distinction is based on feedback and ratings from end-user professionals with experience using the product or service. As of 31 January 2024, Darwinbox received an overall rating of 4.8 out of 5 stars across 141 reviews.
“We believe this distinction, for the third consecutive year, reflects our unwavering commitment to our customers and their success, as well as our dedication to excellence and innovation in the HCM space,” says Jayant Paleti, co-founder, Darwinbox.
Darwinbox has been named a Customers’ Choice for both Large Enterprise (1B – 10B USD) and Midsize Enterprise (50M – 1B USD) segments, showcasing its robust capabilities in handling large-scale operations and its widespread appeal across various business sizes. This recognition underscores the platform’s popularity, driven by its powerful configurability, intuitive design, and agility. An impressive 98% of customers rated Darwinbox 4-stars or higher, highlighting the overwhelming satisfaction with the product.
Furthermore, Darwinbox is recognized as the most customer-friendly enterprise-grade HCM solution globally. The platform distinguishes itself through its ease of implementation and integration, prompt vendor responses, and exceptional technical support, demonstrating Darwinbox’s dedication to quick service and client satisfaction. Notably, 94% of its customers have expressed their willingness to recommend Darwinbox, demonstrating its significant impact and reliability in the enterprise tech landscape.
“What I love is when we need support, the customer service is top-notch – always responsive, solution makers, and always helpful,” HR Business Partner, Media Industry
“Darwinbox has been able to cater to our needs given our diverse business structures and differences in processes,” HR Lead, Manufacturing Sector
Read more reviews
About Darwinbox:
Darwinbox is a leading SaaS-based HR technology platform, empowering organisations to automate HR processes and elevate the employee experience. Rated the highest globally among HCM players on Gartner’s customer review platform, Peer Insights, Darwinbox is trusted by 900+ global enterprises with more than 2.5 million employees spread across 116+ countries.
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Artificial Intelligence

Find Your Perfect Domain with GoDaddy’s Innovative AI Technology

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Leverage Artificial Intelligence (AI) to easily find the perfect domain name for your business
ISLAMABAD, June 17, 2024 /PRNewswire/ — As you embark on your online journey, choosing the right domain name plays a vital role in establishing your web presence. It is often one of the earliest decisions you will make as an entrepreneur or small business owner.

GoDaddy is harnessing the power of AI to help entrepreneurs and small business owners find the right domain name for their business, themselves, or their organization. GoDaddy AI Domain Search tool is designed to deliver personalized domain suggestions tailored to each user’s unique needs. Having a catchy and memorable domain name for your business helps to enhance branding and provides increased visibility for a business on the internet.
By simply entering a business description or keywords, users receive creative and unique domain name choices that can align with their brand identity and vision. GoDaddy uses generative AI to provide users with personalized and brandable domain name suggestions based on their business description, idea, product, or service.
GoDaddy AI Domain Search can simplify the process of finding the perfect domain name for a business. When a user enters information describing their business, project, or idea, including such details as business name if already chosen, location or industry, within seconds the AI tool makes suggestions by creating a list of available domain names with different variations and domain name extensions tailored to your needs.
Finding a domain name for a business idea is important as the name chosen will be reflective of your brand for many years to come. Here are some tips for finding available domain names:
Use specific keywords that describe your business, your products and services, your location, and your industry.Use keywords that people would enter when searching for your products or services.Try using variations of a word you want in your domain name to get more options.Mix up keyword combinations that can describe your business.Your aim is to create a name that is memorable, easy to pronounce, and stands out in your industry.In a world driven by AI, GoDaddy AI Domain Search tool simplifies the process of finding the perfect domain name, enabling you to effortlessly brainstorm and explore creative ideas that align with your vision. Within seconds, you can receive a selection of available domains, empowering you to bring your idea to life.
To experience the power of GoDaddy AI Domain Search visit: www.godaddy.com/en-ph/domains/domain-name-generator
About GoDaddy
GoDaddy helps millions of entrepreneurs around the world start, grow and expand their businesses. People turn to GoDaddy to name their idea, create a professional Web site, attract customers, sell their products and services, and accept online payments. GoDaddy’s easy-to-use tools help micro-entrepreneurs manage everything in one place, and its experts are available to provide 24/7 assistance. For more information about the company, visit www.GoDaddy.com.
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Artificial Intelligence

Metz, in Partnership with AI TECH, Introduces Advanced Interactive Flat Panel to Middle East Market

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SHENZHEN, China, June 17, 2024 /PRNewswire/ — METZ Display, a sub-brand of SKYWORTH and a provider of innovative interactive displays for education and business. The announcement of Artificial Intelligence Technologies LLC Dubai as the authorized exclusive distributor for the UAE market as well as the Oman, Qatar, and Bahrain markets marks a significant expansion for METZ Display. By partnering with a trusted distributor like Artificial Intelligence Technologies, METZ is strategically positioning itself to deliver its full range of smart education and smart conference room applications across these regions. This move not only strengthens METZ’s presence in the Middle East but also underscores its commitment to providing innovative interactive displays tailored for both educational and business environments.

Based on the 16 years of R&D and business experience in the IFPD market from SKYWORTH, METZ Display fully inherited its technology and has introduced several interactive displays in the education and business sectors that provide a highly immersive environment and user-friendly experience since 2022, such as the all-in-one LCD.
Mr. Summer Deng METZ  Sales & Marketing Head of MEA, said: ” The IFPD market in MEA is expected to see rapid growth over the next couple of years. The partnership with Artificial Intelligence Technologies LLC, a business entity to promote AI & AV Products, Tools, and services in the United Arab Emirates & Middle East Region will take METZ Display to another new level. We are confident to further develop our quality products and service!”
METZ Display is expanding its reach into the UAE market through Artificial Intelligence Technologies LLC Dubai as its authorized distributor.
The introduction of the METZ K Pro Series, particularly the EDLA Certified collaborative display, in the MEA Region highlights their commitment to providing innovative interactive display solutions for both education and business sectors. This move could potentially enhance learning and collaboration experiences in the region.
Mr. Harold Fernandes, the Managing Director of Artificial Intelligence Technologies, seems quite enthusiastic about the partnership with METZ Display. His emphasis on the versatility of METZ’s portfolio, applicable across various sectors such as education and business, reflects a keen understanding of the market’s needs. By highlighting the engaging experiences offered by METZ Display products, he’s underlining the potential benefits for resellers and end-users alike. This partnership seems poised to bring innovative solutions to the UAE market.
About METZ Display
With Skyworth, one of the world’s largest TV companies, and Metz, one of the oldest German manufacturers, METZ Display creates high-quality educational and business applications that make state-of-the-art screen technology available to everyone by combining their strengths and 80 years of experience.
About Artificial Intelligence Technologies LLC
Artificial Intelligence Technologies LLC, Is established as a business entity to promote AI & AV Products, and complete AV Solution, Tools & Services in the United Arab Emirates & Middle East Region. Visit the website at https://ai-tech.ai/ 
Phone: +971 4299 0544Email: [email protected]: www.ai-tech.ai
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