Hip resurfacing techniques are used to treat hip fractures while avoiding total hip replacement procedure. Hip resurfacing involves fixing of hollow mushroom shaped cobalt chrome metal cap on the surface of femur and cobalt chrome metal cup in the pelvis socket. Hip resurfacing surgery involves lesser bone removal as compared to total hip replacement surgery and reduced risk of hip dislocation. Hip resurfacing surgery is commonly performed on patients suffering from severe osteoarthritis.
Healthcare professionals prefer hip resurfacing surgery over total hip replacement surgery due to advantages of this technique over total hip replacement surgery. Preference given by healthcare professionals to hip resurfacing surgery and innovations in the hip surgery industry is driving the growth of hip resurfacing implants market. While high standards for approval of any new product to launch into the market, emerging alternative technologies and intense competition between market players are restraining growth of this market. Mergers and acquisitions taking place in the market is one of the major developmental feature of hip resurfacing implants market that has resulted into intensive market consolidation and high competitive rivalry among the existing players. Based on the type of location to fix the implant, hip resurfacing implant markets is segmented as follows:
- Pelvis socket
Geographically, the global hip resurfacing implants market is segmented as follows:
- North America
- Asia Pacific
- Rest of the World
Currently, North America dominates the hip resurfacing implants market followed by Europe. The European hip resurfacing implants market is growing at slower rate due to ongoing economic upsets in the region. Asia-Pacific is a lucrative region market considering factors such as increasing healthcare spending and improving healthcare infrastructure.
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Some of the major companies contributing to global hip resurfacing implants market are DePuy Orthopaedics, Inc., Medtronic, Inc., Biomet, Inc., Acumed LLC, Biotronic and Smith and Nephew Plc.
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