In 2022, the total market size of artificial hip joints in Korea is estimated to be around USD *** billion in terms of manufacturers/importers' initial selling prices and USD *** billion in terms of medical institutions' purchase prices.
It is expected to grow at a CAGR of ***% over the next five years from 2022 to reach USD *** billion in 2027 based on manufacturers/importers' initial selling prices and USD *** billion based on medical institutions' purchase prices.
The number of products approved by the Ministry of Food and Drug Safety for artificial hip joints in Korea (excluding exports) is *** as of November 2023. The number of of products registered with the National Health Insurance Service is *** as of November 2023 which is approximately *** times more than the number of MFDS-approved products.
Artificial hip joints are usually approved as one component group combined together but registered with the NHIS separately as each individual component for reimbursement notice. In other words, there are more NHIS-listed components than MFDS-approved products.
The main components of an artificial hip joint are (1) Cup, (2) Liner/Insert, (3) Head and (4) Stem. Additional materials such as cables and screws are optional therapeutic materials seleced by healthcare providers depending on the patient's bone and joint conditions.
The main products used in artificial hip joints vary according to the replacement types - total, partial and revision. They can be classified into metal, ceramic or polyethylene and in particular, polyethylene materials are classified according to the cross-linking process.
The most well-known materials for artificial hip joints are titanium, cobalt chromium, ceramic, polyethylene and oxynium. For biocompatibility, cobalt chromium and titanium are widely used and titanium is especially used as the main material for the Cup.
Ceramic is currently the most used material due to its advantages such as high compressive strength, wear resistance, safety, non-toxicity and biocompatibility. It is estimated to have a usage rate of more than ***% in Korea.
Unlike other countries, the proportion of patients with femoral head avascular necrosis is relatively higher than osteoarthritis in Korea and the average age group of patients (50s) is relatively young.
In regard to the nature of the patient population in Korea, healthcare providers prefer to use ceramic materials because of their low wear rate on the joint surface and favorable long-term clinical outcomes. In fact, the use rate of ceramic materials for Head is ***% in 2022.
Polyethylene is the main material for Liners and Inserts. Cross-linked polyethylene which has been widely used in Korea since 1999 shows a lower wear rate than conventional polyethylene. In 2022, the usage rate of cross-linked polyethylene material for Liners and Inserts is ***%, higher than that of conventional polytehylene.
In 2022, medical institutions claimed approximately USD *** billion for artificial hip joints to the National Health Insurance Service. This represents a five-year CAGR of ***%, up from approximately ***% in 2018. The artificial hip joints market is entirely reimbursed by the NHIS and therefore, non-reimbursement market does not exist.
The number of artificial hip joints products claimed in 2022 is approximately ***. This represents a five-year CAGR of ***% from approximately *** in 2018, ***% increase compared to 2021.
More than ***% of artificial hip joints are used in general hospitals and tertiary hospitals. The reimbursement volume by end-user type in 2022 as follows: general hospitals USD *** million, tertiary hospitals USD *** million, hospitals USD *** million and clinics USD *** million.
The average annual growth rates of general hospitals and tertiary hospitals in particular from 2018 to 2022 are ***% and ***% respectively.
The total number of artificial hip joints claimed by end-user type in 2022 is ***. General hospitals about ***, tertiary hospitals about ***, hospitals about *** and clinics about ***. Among them, general hospitals have a relatively high average annual growth rate of ***% from 2018 to 2022.
A hip replacement may be performed depending on the severity of the joint disease and the amount of bone and cartilage damage. Hip replacement surgery involves removing some or all of the damaged bone and cartilage and inserting an artificial joint. It can be categorized into three types: (1) total replacement which replaces the entire joint, (2) partial replacement which replaces part of the joint and (3) revision which means replacing the joint again due to complications like fracture.
The total number of hip replacement in 2021 was ***, an average annual increase of ***% compared to *** in 2018. The number of patients by replacement type in 2021 is as follows: total replacement ***, partial replacement *** and revision ***.
The total number of artificial hip joints used in 2021 is ***, an average annual increase of ***% compared to *** in 2018. The number of partial replacement is around *** whereas the number of total replacement is around ***. The number of products used for total replacement in particular grew at a CAGR of ***% from 2018 to 2021.
The market share of the major suppliers in the artificial hip joints market is estimated as follows: Corentec ***%, Zimmer ***%, Stryker ***%, Smith and Nephew ***% and Johnson and Johnson ***%.
It appears to be an oligopolistic market with the top three suppliers having a combined market share of approximately ***%, with other suppliers splitting the remainder of the market.
The artificial hip joints market of Korea is expected to continue to grow at a CAGR of ***% over the next five years, driven by rising health spending, increasing competition for more hospital beds, ageing population, extending life expectancy and growing joint disease prevalence.

Abbreviations and Acronyms
Chapter 1. Introduction
   1.1. Purpose
   1.2. Suggestions for Best Use
   1.3. Scope
   1.4. Research Methods
      1.4.1. Desk Research
      1.4.2. Primary Research
   1.6. Analysis and Projection Methods of Market Size
      1.5.1. Data Sources
      1.5.2. Exchange Rate
      1.5.3. Market Size Estimation Methods

Chapter 2. Executive Summary

Chapter 3. Market Overview
   3.1. Market Size at Manufacturers/Importers' Initial Selling Prices
      3.1.1. Five-Year Forecast of Market Size
   3.2. Market Size at Medical Institutions' Purchase Prices
      3.2.1. Reimbursement Volume of Artificial Hip Joints
      3.2.2. Reimbursement Volume by Main Component
      3.2.3. Reimbursement Volume by End-User Type
         3.2.3.1. Reimbursement Volume by Surgery Type

Chapter 4. Major Suppliers
   4.1. Corentec
   4.2. Zimmer Biomet
   4.3. Stryker
   4.4. Smith & Nephew
   4.5. Johnson & Johnson Medtech
   4.6. Lima
   4.7. implantcast Asia

Chapter 5. Market Dynamics
   5.1. Impact of COVID-19 on Artificial Hip Joints Market
   5.2. Characteristics of Healthcare Market in Korea
      5.2.1. History of Artificial Hip Joints in Korea
      5.2.2. Change History of Reimbursement Environment
      5.2.3. Determination Criteria for Reimbursement vs. Non-Reimbursement
   5.3. Key Indicators of Artificial Hip Joints Market
      5.3.1. Rising Costs and Competition for More Beds
      5.3.2. Aging Population and Increasing Life Expectancy
      5.3.3. Prevalence of Joint Diseases
         5.3.3.1. Osteonecrosis
         5.3.3.2. Arthropathy
         5.3.4.2. Degenerative Arthropathy
         5.3.4.3. Rheumatoid Arthritis
      5.3.4. Current Status of Artificial Hip Replacement Procedures
         5.3.4.1. Total Hip Replacement
         5.3.4.2. Partial Hip Replacement
         5.3.4.3. Revisions
   5.4. Market Drivers
      5.4.1. Demand
      5.4.2. Increase in Number of Suppliers
   5.5. Market Opportunities
      5.5.1. Increase in Demand with Aging Population
      5.5.2. Sales Growth Through Export
   5.6. Market Restraints
      5.6.1. Reimbursement Pricing Scheme of National Health Insurance
      5.6.2. Introduction of Medical Device Tracking to Orthopedic Implants
   5.7. Unmet Needs
References
Appendix 1. Major Products Included in This Report for Market Estimation (As of 01 November 2023)

[Table 1] Classification of Artificial Hip Joints Approval
[Table 2] Market Size of Initial Selling Price
[Table 3] Five-Year Forecast of Market Size
[Table 4] Reimbursement Volume of Artificial Hip Joints
[Table 5] Essential Therapeutic Materials by Replacement Type
[Table 6] Reimbursement Volume of Artificial Hip Joints - Cup
[Table 7] Reimbursement Volume of Artificial Hip Joints - Liner/Insert
[Table 8] Reimbursement Volume of Artificial Hip Joints - Head
[Table 9] Reimbursement Volume of Artificial Hip Joints - Stem
[Table 10] Reimbursement Volume Artificial Hip Joints by End-User Type
[Table 11] Total Replacement Volume by End-User Type
[Table 12] Partial Replacement Volume by End-User Type
[Table 13] Revision Volume by End-User Type
[Table 14] Number of Artificial Hip Joints Approval
[Table 15] Number of Artificial Hip Joints on NHIS List by Product Group
[Table 16] Key Brands of Major Suppliers
[Table 17] Key Brand of Corentec - Bencox
[Table 18] Bencox and National Health Insurance
[Table 19] Key Brand of Zimmer - G7
[Table 20] G7 and National Health Insurance
[Table 21] Key Brand of Zimmer - Echo
[Table 22] Echo and National Health Insurance
[Table 23] Key Brand of Zimmer - Taperloc
[Table 24] Taperloc and National Health Insurance
[Table 25] Key Brand of Zimmer - M/L Taper
[Table 26] M/L Taper and National Health Insurance
[Table 27] Key Brand of Zimmer - Arcos
[Table 28] Arcos and National Health Insurance
[Table 29] Key Brand of Stryker - X3
[Table 30] X3 and National Health Insurance
[Table 31] Key Brand of Stryker - Trident
[Table 32] Trident and National Health Insurance
[Table 33] Key Brand of Stryker - Accolade Ⅱ
[Table 34] Accolade Ⅱ and National Health Insurance
[Table 35] Key Brand of Stryker - Secur-fit Advanced
[Table 36] Secur-fit Advanced and National Health Insurance
[Table 37] Key Brand of Stryker - Restoration Modular
[Table 38] Stryker and National Health Insurance
[Table 39] Key Brand of Smith and Nephew - OR30
[Table 40] OR30 and National Health Insurance
[Table 41] Key Brand of Smith and Nephew - REDAPT
[Table 42] REDAPT and National Health Insurance
[Table 43] Key Brand of Smith and Nephew - Anthology
[Table 44] Anthology and National Health Insurance
[Table 45] Key Brand of Smith and Nephew - SL-PLUS
[Table 46] SL-PLUS and National Health Insurance
[Table 47] Key Brand of Smith and Nephew - CPCS Ⅱ
[Table 48] CPCS Ⅱ and National Health Insurance
[Table 49] Key Brand of Johnson & Johnson Medical - Pinnacle
[Table 50] Pinnacle and National Health Insurance
[Table 51] Key Brand of Johnson & Johnson Medical - ACTIS
[Table 52] ACTIS and National Health Insurance
[Table 53] Key Brand of Johnson & Johnson Medical - CORAIL
[Table 54] CORAIL and National Health Insurance
[Table 55] Key Brand of Johnson & Johnson Medical - C-STEM
[Table 56] C-STEM and National Health Insurance
[Table 57] Key Brand of Johnson & Johnson Medical - Reclaim
[Table 58] Reclaim and National Health Insurance
[Table 59] Key Brand of Johnson & Johnson Medical - Summit
[Table 60] Summit and National Health Insurance
[Table 61] Key Brand of Johnson & Johnson Medical - TRI-LOCK
[Table 62] TRI-LOCK and National Health Insurance
[Table 63] Key Brand of Lima - Delta
[Table 64] Delta and National Health Insurance
[Table 65] Key Brand of Lima - Minima S
[Table 66] Minima S and National Health Insurance
[Table 67] Key Brand of Lima - C2
[Table 68] C2 and National Health Insurance
[Table 69] Key Brand of Lima - Master SL
[Table 70] Master SL and National Health Insurance
[Table 71] Key Brand of Lima - Logica
[Table 72] Logica and National Health Insurance
[Table 73] Key Brand of Lima - Revision Stem
[Table 74] Revision Stem and National Health Insurance
[Table 75] Key Brand of ImplantCastAsia - Ecofit
[Table 76] Ecofit and National Health Insurance
[Table 77] Key Brand of ImplantCastAsia - IC
[Table 78] IC and National Health Insurance
[Table 79] History of Artificial Hip Replacement Procedures
[Table 80] Artificial Hip Joints Reimbursement vs. Non-Reimbursement
[Table 81] Determination Criteria for Artificial Hip Joints Replacement
[Table 82] Determination Criteria for Complex Artificial Hip Joints Replacement
[Table 83] Total Number of Beds in OECD Countries 2021
[Table 84] Health Spending Comapred to GDP 2022
[Table 85] Estimate of Elderly Population Over 65 Years Old
[Table 86] Joint-Related Diseases Prevalence 2017-2021
[Table 87] Osteonecrosis Prevalence 2018-2022
[Table 88] Osteonecrosis Prevalence by Gender Group 2018-2022
[Table 89] Osteonecrosis Prevalence by Age Group 2018-2022
[Table 90] Arthropathy Prevalence 2017-2021
[Table 91] Arthropathy Prevalence by Age Group 2017-2021
[Table 92] Degenerative Arthropathy Prevalence 2017-2021
[Table 93] Degenerative Arthropathy Prevalence by Age Group 2017-2021
[Table 94] Rheumatoid Arthritis Prevalence 2017-2022
[Table 95] Rheumatoid Arthritis Prevalence by Age Group 2017-2022
[Table 96] Gender Differences in Hip Replacement 2017-2021
[Table 97] Artificial Hip Replacement for Males by Age Group 2017-2021
[Table 98] Artificial Hip Replacement for Females by Age Group 2017-2021
[Table 99] Total Hip Replacement Procedure Types
[Table 100] Total Hip Replacement Treatments 2018-2021
[Table 101] Partial Hip Replacement Procedure Types
[Table 102] Partial Hip Replacement Treatments 2018-2021
[Table 103] Hip Revision Types
[Table 104] Hip Revision Treatments 2018-2021
[Table 105] Summary of Market Drivers
[Table 106] Changes in Number of Artificial Hip Joints Product Code
[Table 107] Artificial Hip Joints Classification and Maximum Reimbursement Criteria (as of 1 November 2023)
[Table 108] Tracking Designation of Artificial Hip Joints Products (as of May 2023)

[Fig 1] Components of Artificial Hip Joints
[Fig 2] Market Size at Initial Selling Price
[Fig 3] Five-Year Forecast of Market Size
[Fig 4] Market Size at Hospital Acquisition Price
[Fig 5] Market Size Forecast at Hospital Acquisition Price
[Fig 6] Reimbursement Volume of Artificial Hip Joint
[Fig 7] Reimbursement Volume of Artificial Hip Joints by End-User Type
[Fig 8] Reimbursement Volume of Artificial Hip Joints by End-User Type 2018-2022
[Fig 9] Number of Total Replacement by End-User Type
[Fig 10] Number of Partial Replacement by End-User Type
[Fig 11] Number of Revision by End-User Type
[Fig 12] Market Share Estimate of Major Suppliers
[Fig 13] Health Spending Compared to GDP
[Fig 14] Percentage of Population aged 65+ years
[Fig 15] Number of Joint-Related Disease Patientts
[Fig 16] Trends in Osteonecrosis Patients 2018-2022
[Fig 17] Number of Osteonecrosis Patients
[Fig 18] Number of Arthropathy Patients
[Fig 19] Number of Degenerative Arthropathy Patients
[Fig 20] Number of Rheumatoid Arthritis Patients
[Fig 21] Gender Differences in Hip Replacement

Corentec
Zimmer Biomet
Stryker
Smith & Nephew
Johnson & Johnson Medtech
Lima
Implantcast Asia