The surgery can be performed as a total or hemi (half) replacement. Hip replacement is a surgical procedure to replace a hip joint with a prosthetic implant. The rise in product approvals and adoption of key strategies such as mergers and acquisitions will also contribute significantly to the market growth. However, now that the pandemic is over, the market is expected to grow well during the study's forecast period, as hip replacement surgeries are expected to take place normally.įactors such as the growing burden of osteoarthritis, hip injuries, and the increasing prevalence of obesity are expected to boost the studied market. Thus, the frequency of these surgeries decreased due to the rising incidences of COVID-19 infections during the pandemic, therefore impacting the market growth. For instance, as per the study published by PubMed Central in November 2021, during the initial COVID-19 pandemic, there was an estimated 6.80% decrease in the revision of total hip arthroplasty due to the fear of COVID-19 infections, which impacted the market growth significantly. The COVID-19 pandemic had a significant impact on market growth. The global hip replacement market size is expected to grow from USD 7,048.07 million in 2023 to USD 8,603.96 million by 2028, at a CAGR of 4.07% during the forecast period.
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