Hip Replacement Market Trends, Growth Insights And Forecast To 2027
Category: #business  By Ronak Bora  Date: 2021-08-20
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Hip Replacement Market Trends, Growth Insights And Forecast To 2027

The hip replacement industry is anticipated to expand over the coming years, owing to the increasing prevalence of osteoporosis, osteoarthritis, and hip fractures. The market is driven by a rise in the development of numerous products by major industry participants.

For instance, in March 2021, Medacta announced that it has secured the clearance of the FDA for its MyHip Verifier and MyHip Planner. These hip replacement tools have secured the approval of the FDA from the Therapeutic Goods Administration of Australia and from the Japanese Ministry of Health, Labour and Welfare.

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Such developments are expected to augment the demand for hip replacement surgery through the forecasted period. On this note, the hip replacement market size is anticipated to surpass USD 9.2 billion by 2027, states the latest research by Global Market Insights, Inc.

As per a report by the United Nations, an estimated number of 727 million people of the global population were in the age group of 65 and above in 2020. The number of people with osteoporosis is expected to escalate, with the elderly population anticipated to hit a mark of 1.5 billion by 2050. As per NBCI (National Centers for Biotechnology Information), osteoarthritis affects nearly 10% of men and nearly 13% of women in the age group of 60 years or above in the United States.

The demand for ceramic-on-ceramic hip replacement products will rise in the coming years due to the advantages of high resistance and lower rate of complication. In fact, segment had a valuation of more than USD 507 million in 2020 and is expected to witness lucrative growth through the analysis period.

Ceramic-on-ceramic material reduces the risk related to wear-induced osteolysis. Ceramic implants are attractive owing to better scratch resistance and hardness. Numerous studies have started promising the results of ceramic-on-ceramic implants in the radiographic and long-term clinical aspects. Furthermore, the manufacturing and development process of ceramics have depicted superior wear and better mechanical characteristics.

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Hip replacement industry will also gain substantial proceeds from increasing deployment of antioxidant polyethylene inserts. The segment accounted for a considerable revenue of over USD 1,116 million in 2020 and will record appreciable growth through the forthcoming years. The expansion is driven by its numerous advantages including prevention of oxidation of the polyethylene chains, durability, and the reduction of polyethylene wear.

These inserts are precisely developed for the improvement of mechanical strength, reducing the risk of periprosthetic deep infection, and limiting the bacterial adhesion onto prosthetic surfaces. Considering an instance, clinical studies have showcased that the supplementation of antioxidant polyethylene is safe and reliable without showing higher rates of complication in comparison with traditional polyethylene liners.

On the basis of regional landscape, Brazil hip replacement industry accounted for a dominating share of more than USD 124 million in 2020. The country is expected to record a growth rate of over 6.3% through the analysis period. The high rate of market growth is due to the developing medical infrastructure, surging disposable income, and the rising expenditure on healthcare.

On the whole, recent advances in hip replacement devices coupled with surging awareness regarding hip replacement surgery is expected to propel the market share through the forecasted period.

Partial Chapter of the Table of Content

Chapter 2   Executive Summary

2.1    Hip replacement industry 3600 synopsis, 2016 - 2027

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Material trends

2.1.4    Fixation material trends

2.1.5    Inserts trends

2.1.6    End-use trends

2.1.7    Regional trends

Chapter 3   Hip Replacement Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2016 – 2027

3.3    Industry impact forces

3.3.1    Growth drivers    Rising geriatric population    Increasing prevalence of hip arthritis and osteoporosis    Recent technological advancements

3.3.2    Industry pitfalls & challenges    High cost associated with implants and surgery    Stringent regulatory regulations

3.4    Growth potential analysis

3.4.1    By product

3.4.2    By material

3.4.3    By fixation material

3.4.4    By inserts

3.4.5    By end-use

3.5    COVID-19 impact analysis

3.6    Regulatory landscape

3.6.1    U.S.

3.6.2    Europe

3.7    Porter’s analysis

3.8    Competitive landscape, 2020

3.8.1    Company matrix analysis, 2020

3.8.2    Company market share analysis, 2020

3.9    PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/hip-replacement-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...


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