Overview
Hip implants are used in the replacement of damaged or injured parts of the hip joint with artificial prosthesis. The procedure is usually performed when all the other treatment failed to offer adequate pain relief. Symptoms, such as muscle weakness, loss of sensation, and pain development due to disorders of the bones, joints, and muscles, require hip surgery. An artificial joint is made of metal, polymeric or ceramic components. Damages occurring during accidents and fractures have increased the demand of hip prosthesis in the past few years. Further, the popularity of minimally invasive ortho-related surgeries with multimodality imaging systems is contributing a significant growth to the market. The primary factors, such as an increase in the prevalence of osteoarthritis, rise in geriatric population, increase in the popularity of minimally invasive surgeries, and advances in technologies, are expected to contribute to the market growth significantly. The cost of hip replacement brings a second thought for most individuals who are recommended for hip replacement. In a few cases where the patients are expected to undergo revision and hip resurfacing procedures, it is painful and the cost is added to the procedure making it expensive. However, the advances in technology, such as 3D printing and the usage of biomaterials, are gaining popularity along with the hip replacement implants, thereby contributing to the revenue of the market. The global hip replacement market is driven by growing number of hip arthroplasty throughout the globe, the rising prevalence of osteoporosis, osteoarthritis and hip ailments leading to hip replacement surgeries. Growth in trauma and injuries have also boosted the number of hip arthroplasty in recent years. Many studies have emphasized the benefits of replacement surgeries in reducing pain, improved quality of life and overall cost of healthcare and resources. However, the cost of the overall procedure is acting as a hindering factor for the growth of hip replacement implants, especially in developing countries with unorganized insurance and reimbursement structure. By product type, Global Hip Replacement market is categorized into 4 type Total Hip Implant, Partial Femoral Head Implant, Hip Resurfacing, and Revision Hip
Implants. The total hip implant market segment is further sub-segmented into cemented and cement less total hip replacement products. Cement less total hip implants market sub segment is expected to dominate the market for total hip replacement in terms of market share. In terms of sales volume or units sold cement less total hip implants is expected to dominate the market. Revision hip implants are priced highest among all hip replacement implants, while partial femoral head implant is among the most cost effective product though prices vary from brand to brand. Global Hip Replacement market can be segmented into Hospitals, Orthopaedic Clinics, Ambulatory Surgical Centres and Others. Hospitals segment held the largest share in the global hip replacement market owing to the higher number of surgeries in the hospitals. However, ambulatory surgical centres are projected to exhibit the highest growth rate during the forecast period due to the lowered cost of a procedure and waiting time for a procedure as compared to hospitals. According to a study, close to 236,733 hip surgeries were carried out in ambulatory surgical centres in North America and expected to grow steadily during the forecast period. Hip replacement surgeries in orthopaedic clinics are not common as well due to the requirements of anaesthesia monitoring, and patients generally being admitted post-surgery. Geographical wise, North America dominating in the global hip replacement market on account of rising in the orthopaedic ailments, better healthcare access, early entry of novel technologies and early acceptance of the same by the healthcare practitioners and patients. Moreover, systematic reimbursement scenario and insurance structure further drive the market. It is estimated that more than 300,000 total hip replacements are performed in the U.S. each year.
Some of the major players and participants of Global Hip Replacement Market are Zimmer Biomet Holdings Inc., Microport Scientific Corporation, Exactech Inc., Depuy Synthes (J&J), Stryker Corporation, B. Braun Melsungen AG, DJO Global Inc., and Smith & Nephew. Increase in mergers, strategic collaborations, and new product launches are expected to drive the global market during the forecast period. Additionally, strong product collection, high brand recognition, and strong geographic presence are expected to boost the market during the forecast period.
Major players in the Market are identified through secondary research and their Market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and Marketing executives. The percentage splits, Market shares, growth rate and breakdowns of the product Markets are determined through using secondary sources and verified through the primary sources. Inquiry about report OR ask for Sample Report @ https://www.profsharemarketresearch.com/inquiry/hip-replacement-marketreport-inquiry/ Global HIP Replacement Market: Product Type Total Hip Implant Partial Femoral Head Implant Hip Resurfacing Revision Hip Implant
Global HIP Replacement Market: Application Hospitals Orthopaedic Clinics Ambulatory Surgical Centres Others Global HIP Replacement Market: Competitive Analysis Stryker Corporation Microport Scientific Corporation B. Braun Melsungen AG Depuy Synthes (J&J) DJO Global Inc. Smith & Nephew Zimmer Biomet Exatech Inc.
HIP Replacement Market: Regional Analysis North America U.S.A Canada Europe France Germany Spain UK Rest of Europe Asia Pacific China Japan India South East Asia Latin America Brazil
Middle East and Africa
Access Full Report @ https://www.profsharemarketresearch.com/hip-replacement-market/ HIP Replacement Market Report delivers comprehensive analysis of : Market Forecast for 2019-27 Market growth drivers Challenges and Opportunities Emerging and Current market trends Market player Capacity, Production, Revenue (Value) Supply (Production), Consumption, Export, Import analysis End user/application Analysis About Profshare Profshare Market Research is a full service market research company that delivers in depth market research globally. We operate within consumer and business to business markets offering both qualitative and quantitative research services. We work for private sector clients, along with public sector and voluntary organisations. Profshare Market Research publishes high quality, in-depth market research studies, to help clients obtain granular level clarity on current business trends and expected future developments. We are committed to our client’s needs, providing custom solutions best fit for strategy development and implementation to extract tangible results. For more information, visit https://www.profsharemarketresearch.com/ OR Email us at sales@profsharemarketresearch.com Contact : Mia Cox Sales Manager miacox@profsharemarketresearch.com