The Infinium Global Research analyzes the Hip Replacement Implant Market over the period of 2018 to 2024. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global hip replacement implant market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of hip replacement implant. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the hip replacement implant market during the period. The global hip replacement implant market is projected to grow at a CAGR of 4% over the forecast period of 2018-2024.
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When a hip replacement surgery is performed, a damaged worn-out hip joint is replaced with an artificial implant. The materials used in the artificial implant may vary, but they often include metal, plastic, or ceramic. Hip implants restore mobility and relieve pain usually caused by arthritis or from other hip diseases or injuries. Hip replacement is considered safe and cost-effective procedures to provide relieve from the painful hip joint by helping the person to walk easier.
The hip joint is a ball and socket joint, and removal of the hip joint requires, surgeon to remove the ball and reshape the socket. The artificial implant is then positioned in the bone. The implant may be held in the bone by tightly wedging it in place or it may be cemented into position. The type of fixation used will depend on the patient's bone health and the design of the implant. Greater than one million hip replacement implant surgeries are performed worldwide, and this is anticipated to double over the next decade.
Rising Prevalence of Musculoskeletal Conditions Among the Aging Population and Rising Demand for Hip Replacement Surgeries Over the Globe is a Major Factor Driving the Growth of Hip Replacement Implant Market
The World Health Organization says that orthopedic diseases are responsible for half the chronic conditions affecting people over 50 in the developing world. In addition, musculoskeletal conditions are a major burden on individuals, health systems, and social care systems, with indirect costs being predominant. The rising prevalence of musculoskeletal conditions among the aging population and rising demand for hip replacement surgeries over the globe is a major factor driving the growth of hip replacement implant market. Additionally, rising prevalence’s of arthritis and obesity is fuelling the demand of marker.
Moreover, the growing adoption of fitness regimes related to serious injuries, a growing number of accidental injuries and government initiative taken for care of aged citizen are supporting factors fueling the hip replacement implant. Nowadays, a number of orthopedic supply companies are focusing on direct advertise to consumers. Which in turn boost the demand of a hip replacement implant market during the forecast period. However, the strict rules and regulation set by the FDA for metal hip implant product and the high cost of hip replacement procedures are factors curtailing the hip replacement implant market. Going further, recent technological advances have improved the quality of artificial hip implant and made the surgeries more affordable. This, in turn, is expected to provide huge growth opportunities for the hip replacement implant market over the forecast period.
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North America Holds the Highest Share in the Hip Replacement Implant Market
Among the geographies, North America holds the highest share in the hip replacement implant market followed by Europe. The United States is the leading region in North America. The factor responsible for the growth of the market is the rising occurrences of osteoarthritis and osteonecrosis coupled with a number of aging populations. In the North America region, several orthopedic supply industries have begun to advertise directly to consumers. Sometimes, an advertisement is seen in a magazine, newspapers and late-night television. Moreover, Asia Pacific is anticipated to witness emerge as an attractive market owing to the increasing number of joint reconstruction procedure due to the rise in a roadside accident and advancement in the healthcare infrastructure in emerging economies.
Hip Replacement Implant Market: Segmentation
The report on global hip replacement implant market covers segments such as type, material, and end-user. On the basis oftype, the global hip replacement implant market is categorized into total hip replacement implant, partial hip replacement implant, hip resurfacing implant, and revision hip replacement implant. On the basis ofmaterial, the global hip replacement implant market is categorized into metal-on-metal (MoM), metal-on-polyethylene (MoP), ceramic-on-polyethylene (CoP), ceramic-on-ceramic (CoC) and ceramic-on-metal (CoM). On the basis of end-user, the global hip replacement implant market is categorized into orthopedics clinics, hospitals, and ambulatory surgical centers.
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Key Players in the Hip Replacement Implant Market
The report provides profiles of the companies in the global hip replacement implant market such as DJO Global Inc., B. Braun Melsungen AG, Stryker Corporation, OmniIlife Science Inc., Exactech Inc., Zimmer Biomet Holdings Inc., MicroPort Scientific Corporation and Smith & Nephew.
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the hip replacement implant.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research– Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.