Hip Replacement Implant Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025. Rising geriatric population and increasing incidences of bone related disorders are key drivers for Global Hip Replacement Implant Market.
Hip replacement also called as arthroplasty, is a surgical procedure in which parts of hip joint are removed and replaced with new implants due to various sbone disorders such as osteoarthritis, rheumatoid arthritis, joint pain, avascular necrosis, injuries and even bone tumors. The number of hip replacement procedures performed worldwide, has increased significantly and nowadays the procedure has become more common in younger people too. So, during the study of Global Hip Replacement Implant Market, we have considered Hip Replacement Implant to analyze the market.
Global hip replacement implant market report is segmented on the basis of product, material, end user type and regional & country level. Based on product type global hip replacement implant market is classified as total hip replacement implant, partial hip replacement implant, resurfacing implant and revision hip replacement implant. On the basis of material the global hip replacement implant market is classified as metal-on-metal, metal-on-polyethylene, ceramic-on-metal, ceramic-on-polyethylene and ceramic-on-ceramic. Based upon end user type global hip replacement implant market is segmented into hospitals, orthopedic clinics, surgical centers and others.
The regions covered in this hip replacement implant market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Hip Replacement Implant is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Rising geriatric population, affordable replacement procedure, rising incidences of bone disorders such as arthritis, osteoarthritis, rheumatoid arthritis, avascular necrosis and even bone tumors are major drivers for the growth of the global hip replacements implant market. Other factors such as technological advancements prevalence of obesity, increasing per capita income, increasing expenditure and accessibility on healthcare are the major key drivers for the growth of the global hip replacement implant market. The significant rise in hip surgeries is also due to the remarkable advancements in the development of minimally invasive surgeries that use techniques such as 3D printing for achieving accurate results. However, stringent FDA regulations for all metal hip implant products and substantial cost of surgeries are the major restrain the growth of the global hip replacement implant market. Nonetheless, untapped market and technological advancements may generate new opportunities in forecast period.
North America dominates the market with highest market share due to increasing geriatric population, higher per capita income, rising incidences of osteoporosis and arthritis. According to American Joint Replacement Registry, Hip and knee implants account for more than 85% of the joint reconstruction and replacement market. More than 7 million Americans have had a knee or hip replacement surgery. An estimated 2.5 million Americans have undergone total hip arthroplasty and are living with implants.
Europe is the second largest market for hip replacement implant due to increasing incidences of bone disorders, improving healthcare infrastructure, governmental initiatives for supporting medical innovation, and awareness programs. According to National Health Services figures, the number of hip replacement operations on people aged less than 60 years has risen by 76% in the last decade, for England. There are 24 arthoplasty registries in Europe, most of national coverage and around 3.1 million hip knee arthroplasties are registered since 1975.
Asia Pacific Global Hip Replacement Implant Market is witnessed with strong growth rate majorly due high prevalence of bone related disorders, increasing population, improving healthcare facilities, rising awareness and rise in government initiatives to promote public healthcare. According to latest study related to cases of hip fractures from osteoporosis in nine Asian jurisdictions, predicted that by 2050 cases in Malaysia would be 3.55 times that of current levels, while in Singapore, the figure is 3.53 times. Researchers predicted that the total number of new hip fracture cases across all nine areas in the study would increase to 2.56 million in 2050, from 1.12 million this year.
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