View Report Details Global Knee and Hip Market ----------------------------------------------------2014
View Report Details Executive Summary The knee and hip joints are the largest joints in the human body. Any dysfunction in any of these joints can cause chronic disorders. Both these joints are large and complex and thus, they are frequently affected by injuries caused in the event of sports activities, accidents, or simply due to aging. Further, conditions like arthritis and bursitis may also cause chronic pain in these joints. Advancing medical technology has brought significant development to enable smooth functioning of joints and to provide them with strength and stability, which, is eventually targeted at providing them with a much better degree of movement. These technological advancements have made related surgeries a more viable option for patients. Joint replacement surgery has become one of the greatest medical advances over time. The key factors which are anticipated to drive knee and hip market include factors like accelerating aging population, rising healthcare expenditures and economic development. Some of the noteworthy developments of this industry include joint replacement surgery, increasing obesity rates, improved implant materials and surgical techniques, among others. However, the growth of respective industry is hindered by the barrier for regulatory risk, defective medical devices, dearth of expertise and trained healthcare expenditures, among others. The global knee & hip market is consolidated with top five players controlling the majority share of the total market. Zimmer, Johnson & Johnson (DePuy), Stryker, Biomet and Smith & Nephew are the leading players in the knee & hip market. The report “Global Knee & Hip Market� analyzes the global and the US market. The report also identifies the key trends shaping and driving the dynamism in knee & hip market. The report provides an insight into the prevalent competitive landscape of major players, along with their business strategies. By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
The knee and hip joints are the largest joints in the human body. •
Among all segments of the orthopedic market, knees and hips market is the largest and a major contributor to global market value with a share of …% as of 2013, followed by spine and trauma segment with …% and …% share, respectively.
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The knee market has increased by …%, from US$... billion in 2012 to US$... billion in 2013. Though the market recorded a growth in the procedure volume during the cited period, the downward pricing pressures continues to plague its growth. The global knee market is expected to reach US$... billion in 2014.
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The orthopedic industry is characterized by its concentrated set-up, where more than …% of the total market share is represented by the top seven companies. Five of these seven companies are based in the US, which makes the US the predominant region within this industry with more than …% of the global orthopedics market share. Tissue engineering, customized and smart implants have been identified as the key areas that will determine the future growth of orthopedics.
Global Orthopedic Implant Market Share (2013)
Knees and Hips
Spine
Trauma
Sports Medicine
Biologics
Extremities
Global Orthopedic Market Sales by Geography (2013)
US$ Billion
Global Knee Market (2009-2014E)
2009
2010
2011
2012
2013
2014E
The US
International
Some of the noteworthy developments of this industry include acceleration of aging population, rising healthcare expenditure and economic development, among others. •
In 2007, US$... per head was spent on healthcare services, and the figure increased to US$... per capita in 2013. The same recorded a CAGR of …% for the aforementioned period. In the coming years, the healthcare expenditure is further expected to increase.
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The US, Europe and Japan are the largest markets for joint reconstruction. The US is the largest market for knee procedures and contributed …% to the global knee market by value and …% by volume in 2014. Emerging markets like China and India, where joint replacements technologies are in the early stages of adoption, are projected to witness a higher growth in knee replacement and provide growth to the overall knee market.
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The hip market is considered to be mature in the US, West Europe and Japan. The US was the largest hip market in 2014 and contributed approximately …% to the global hip market by value. Maximum hip procedures are performed in Europe, accounting for …% of the total hip volume during 2014.
US$
Global Per Capita Healthcare Expenditure (2009-2013)
2009
2010
2011
2012
2013
Global Knee Market Sales by Geography (2014E)
Global Hip Market Sales by Geography (2014E)
The US The US
International
International
Increasing Obesity Rate plays a significant role in growth of the knee and hip market.
US$ Billion
The US Knee Market (2009-2014E)
2009
2010
2011
2012
2013
2014E
•
The US is the largest market for knee procedures and contributed …% to the global knee market by value and …% by volume in 2014. Share of the US in the knee market is expected to record a slight drop in the approaching five years mainly because of the blooming emerging markets.
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The global hip market has showed a steady decline over the past few years due to negative impact on price/mix which is partially offset by …% growth in volume. The hip market was worth US$... billion in 2013, which was …% less than US$... billion in 2012, due to a decline in price/mix. The global hip market is expected to reach US$... billion in 2014, an incline of …% as compared to 2013.
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Johnson & Johnson is the undisputed leader in the global orthopedic market with …% share as of 2013, followed by Stryker and Zimmer with …% and …% share, respectively. Other key market players include Medtronic, Smith & Nephew, Biomet, Arthrex and Other.
Global Hip Market (2009-2014E)
US$ Billion
Global Orthopedic Market Share by Company (2013)
2009
2010
2011
2012
2013
2014E
JNJ DePuy Others
Stryker
Zimmer
Medtronic
Smith & Nephew
Biomet
Arthrex
The growth of respective industry is hindered by the barriers for regulatory risk, defective medical devices and inadequate reimbursement and coverage, among others. Global Knee and Hip Market Forecast (2010-2017E)
During the economic crisis, the growth of the market slowed but recovered with the improving global economy. The global GDP witnessed an increase of …% to reach US$... trillion in fiscal 2013 from US$... trillion in 2012. The same registered a CAGR of …% for the period 2008 to 2013.
The global knee and hip market has recorded a healthy growth in the past few years, which is projected to continue in the years ahead. In the graph below, the combined market growth of knee and hip market has been charted for the period of 2010 to 2017. In 2010, the overall revenues of global knee & hip market was estimated at US$.... billion, which is projected to grow up to US$... billion by the end of 2017. The worldwide revenues of the market are estimated to grow at a CAGR of …% during 2010-2017.
Knee is a very complex joint that moves straight backwards as well as twists slightly from side to side. The knee joins the thigh bone (femur) to the shin bone (tibia) and both of these bones meet to form a hinge joint. The hip joint is the largest joint of the human body which allows us to walk, jump and run. This joint is a ball-socket synovial joint formed between the os coxa (hip bone) and the femur. A round, cupshaped structure on the os coax, known as the acetabulum, forms the socket for the hip joint.
Note: Market attractiveness is inverse of penetration. Low penetration means high attractiveness and vice-versa
2017E
2016E
2015E
2014E
2013
2012
2011
2010
2013
2012
2011
2010
2009
US$ Billion
US$ Trillion
Global GDP (2009-2013)
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