The global hip replacement implants market is expected to grow at a CAGR of 5% from 2010, to reach $8.6 billion in 2017. The market is expected to grow due to rising incidence of osteoarthritis in the aging population and increase in obesity. Osteoarthritis is the most common type of arthritis. Studies by the Center for Disease Control (CDC) have indicated that arthritis affects nearly 43 million Americans, and it is estimated that this will increase to 67 million or 25% of the adult population by 2030. Of this, working-age adults (45-64 years) will account for almost one-third of cases. Direct to consumer (DTC) marketing in the US, the fact that hip replacement surgeries can reduce the burden of healthcare expenditure on government and other payers, and the lack of alternative medical treatment options, are other contributing factors for market growth.
Primary Hip Replacement Implants is the Major Segment within the Hip Replacement Implants Market
Primary hip replacement implants is the major segment within the hip replacement implants market, and was valued at $4.7 billion in 2010. This market is expected to grow at a CAGR of 6% over the period 2010-2017, to reach revenues of $6.8 billion in 2017. The launch of new products with personalized fit, multiple design options and advanced bearing technologies has positively impacted the growth of the primary hip replacement implants market.
The increase in surgeries in younger patients due to the need to remain active will further stimulate the growth of this market.
Increasing Number of Patients Suffering from Osteoarthritis to Drive Hip Replacement Implants Procedures
Osteoarthritis is the most common form of arthritis in the US and other Western countries. It is increasing in incidence as the population ages, and it is likely to rise further with the obesity epidemic. Although the degenerative process may accelerate in persons with a previous hip injury, many cases of osteoarthritis occur when the hip simply wears out. Osteoarthritis is the highest-ranking disease among the musculoskeletal diseases, and contributes to approximately 50% of the disease burden in this group.
According to the WHO (World Health Organization), osteoarthritis is expected to be the fourth leading cause of non-fatal burden of disease by 2020. Hence, there is a continuous increase in the incidence rate of osteoarthritis, supplemented by aging and obesity, which would propel the number of hip replacement surgeries. Rheumatoid arthritis and traumatic arthritis are other factors that lead to loss of hip function and immobility.
The US is the Key Market for Hip Replacement Implants
The US hip replacement implants market was valued at $2.8 billion in 2010. The market has grown at a CAGR of 6% over the period 2003-2010. The US hip replacement implants market is expected to grow at a CAGR of 6% over the period 2010-2017, to reach $4 billion by 2017. The US was the biggest market for hip replacement implants in the period 2003-2010, and held 47% of the global market share in 2010. The US market grew due to higher awareness among patients from direct to consumer marketing and the launch of new products. The future growth in the hip replacement implants market will be due to an increase in the elderly population in the US, in whom there is greater likelihood of osteoarthritis and hip fracture.
The primary hip replacement implants market was valued at $2.1 billion in 2010, and is expected to grow at a CAGR of 6% in the period 2010-2017 to reach $3.2 billion. The partial hip replacement implants market was valued at $348.7m in 2010, and is expected to grow at a CAGR of 5% to reach $499.1m in 2017. The revision hip replacement implants market was valued at $290.9m in 2010, and is expected to grow at a CAGR of 5% to reach $416.5m in 2017.
DePuy, with a Market Share of 22% in 2010, is the Leader in the Global Hip Replacement Implants Market
DePuy Inc is the global leader in the hip replacement implants market, with revenues of $1.3 billion, and 22% of the market share in 2010. Other companies with significant presence in the hip replacements market include Zimmer, Stryker, Smith & Nephew and Biomet. The hip replacement implants market is dominated by established market players. The presence of new, small companies is not pronounced in the market.
New Products with Personalized Fit, Multiple Design Options and Advanced Bearing Technologies to Stimulate the Growth of the Primary Hip Replacement Implants Market
The focus among orthopedic surgeons has largely shifted to personalized fit, greater design options and advanced bearing surfaces, as the fixation of hip replacement prostheses is no longer the major issue it once was. This has led to a greater focus to improve hip tribology, including which head/cup combinations are safest and most durable to use in different patients. Major companies have launched new products which meet these needs that are driving the market.
In 2009, Zimmer launched the Continuum Acetabular System, which allows personalized fit for the patient, and in 2010, Zimmer announced that the Continuum Acetabular System is one of its best-selling hip reconstruction systems, as it allows surgeons to have options to choose the bearing technology that meets the unique needs of each patient.
In 2010, Stryker launched the Rejuvenate Modular Primary Hip System, which is designed to recreate the anatomy and hip biomechanics of individual patients. This modular hip system of femoral bodies and necks provides surgeons with options for personalizing the implant to each patient's needs. The system offers the surgeon the opportunity to independently manage stem size, leg length, version and offset. Stryker also launched the mobile bearing product ADM X3 hip system in 2010. The ADM X3 hip system is a premium product from Stryker, and competes with the traditional metal on metal implant, with a larger head that offers greater stability. The system's large polyethylene head allows for increased range of motion and minimizes the risk of wear. Stryker increased its global sales of hip implants by 5% in 2010. Sales was driven by X3 Polyethylene systems, Rejuvenate hip products, Accolade cementless hip products, Trident hip products and Restoration Modular Hip System revision hip products.
This report provides key data, information and analysis on the global hip replacement implants market. The report provides market landscape, competitive landscape and market trends information on the hip replacement implants market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings.
- Key geographies covered include the US, Canada, the UK, Germany, France, Italy, Spain, Japan, China, India, Australia, and Brazil.
- Key segments covered include Primary Hip Replacement Implants, Revision Hip Replacement Implants and Partial Hip Replacement Implants.
- Annualized market revenues data from 2003 to 2010, forecast forward for 7 years to 2017. Company shares data for 2010.
- Qualitative analysis of key market trends, market drivers, and restraints by each category within hip replacement implants market.
- The report also covers information on the leading market players, the competitive landscape, and the leading pipeline products and technologies.
- Key players covered include Zimmer Holdings, Stryker Corporation, DePuy, Smith & Nephew and Biomet.
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