Hip Replacement Market 2020 Global Industry Analysis to 2026 is latest report on “Global Hip Replacement Market”, published by Fortune Business Insights. According to report Hip Replacement to rise at 5% CAGR and Reach $10.51 Billion by 2026. Report segments market for Hip Replacement Procedure (Total Hip Replacement, Partial Hip Replacement, and Revision & Hip Resurfacing), End User (Hospitals & Ambulatory Surgery Centers, Orthopedic Clinics, and Others) and Regional Forecast, 2020-2026.
Some of the companies operating the global Hip Implants Market are; Stryker, Smith and Nephew, DJO Global, OMNI, Exactech, MicroPort Scientific Corporation, Zimmer Biomet, ConforMIS, Wright Medical N.V.
Global Hip Replacement Market Highlights:
As per the World Health Organization (WHO), approximately 15% of the global population was suffering from degenerative joint disease in 2018. Furthermore, by 2050 an estimated of 130 million people are likely to get infected by degenerative joint disease. This could be a key growth enabler for the overall market.
The market is witnessing rising prevalence of hip diseases, backed by rising obese population and increasing accidents. This might compel people to opt for hip replacement surgery. The market in Asia pacific is likely to progress at a promising CAGR. Governments of some Asian nation are emphasizing on the improvement of healthcare infrastructure. This is further expected to increase the growth rate in the market.
Hip Replacement Market Segment Analysis:
Hip Replacement Market Size, Share & Industry Analysis, By Procedure (Total Hip Replacement, Partial Hip Replacement, and Revision & Hip Resurfacing), By End User (Hospitals & Ambulatory Surgery Centers, Orthopedic Clinics, and Others) and Regional Forecast, 2019-2026
Hip Replacement Market Regional Insights:
To over an executive level blueprint, the report classifies the global market on the basis of various segments. In the global market, North America held a considerable share in 2018. The incidence of hip injuries is increasing in the region. Hence, North America is likely to remain a lucrative market for hip replacement implants through the forecast period. Moreover, as stated by the Centre for Disease Control and Prevention, in the U.S. approximately 30 million people were suffering from osteoarthritis in 2018. This is expected to contribute towards the North America market’s expansion.
Hip Replacement Market Growth And Restraints Analysis:
Advent of Robot Assisted Surgery to Change the Market Game. Increasing adoption of minimal invasive procedure surgeries and increasing healthcare expenditure are a few factors expected to drive the market. Moreover, introduction of robot assisted surgery has changed the whole scenario. Hospital and specialty clinics are adopting the technology on a rapid basis. This is likely to enable growth in the global market.
In 2019, Bristol University’s research team stated 6 from 10 implants are capable to provide strong support for over an age of 25 years. Such research helps in raising awareness about hip implant surgery and increase the market growth.
On the flip side, risk associated with implant such as joint infection, hip dislocation, and other is a major factor that may restrain the global market. Several cases of device damage have been reported. Therefore, the growth in the global hip replacement implants market might be hampered.
OrthoGrid to Gain Higher Share with its Innovative Stratgies. In 2018 OrthoGrid Systems, Inc. overhauled its distribution plan to enhance the availability of its HipGrid product portfolio in Asian nations, majorly in Japan. The product launch is attributable to increasing competition in the market. Several other companies are focusing on the expansion of their product portfolio, which is expected to bode well for the overall market.
Highlights of the Report:
In-depth analysis of various insights, namely, Hip Replacement Market trends, growth drivers, opportunities, and other related challenges.
Comprehensive details of key market players, their core competencies, and Hip Replacement Market share.
The potency of suppliers and buyers to make better business decisions.
Lists out the market size in terms of volume.
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