The global Hip Replacement Implants Market size is expected to reach USD 7.8 Billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to expand at exhibiting a CAGR of 4.7% over the forecast period. Growing prevalence of osteoarthritis & osteoporosis are expected to drive growth over the forecast period. In addition, a paradigm shift toward minimally invasive procedures is fueling the market globally. Moreover, favorable reimbursement policy is further propelling growth.
Moreover,
individuals aged 60 years and above accounted for 12.3% of the global
population in 2015 and this population is expected to reach 21.5% in 2050.
Thus, increasing population of those aged 60 years and above is expected to
impel growth. Moreover, increasing adoption of minimally invasive surgeries
coupled with availability of variety of advanced treatment options is a key
factor driving the market.
Related Press
Release@ Hip
Replacement Implants Market Report
Hip Replacement Implants Market Report Highlights
- Increasing
demand for minimally invasive surgeries is anticipated to create growth
opportunities in the hip replacement implants market.
- Increasing
number of sports injuries & road traffic accidents are driving demand
for total replacement surgeries.
- Total hip
implants accounted for the largest revenue share as of 2018, owing to
technological advancements and growing adoption.
- Metal-on-polyethylene
(MOP) held the largest share of material segment due to its minimal
surgical risk and negligible post-surgery complications.
- Hospitals
& surgery centers held the largest revenue share of end-use segment
due to maximum number of surgeries performed within these facilities.
- North
America held the dominant share as of 2018, due to supportive government
initiatives and presence of large number of industry players.
- Asia Pacific
is anticipated to witness lucrative growth due to increase in the target
population and booming medical tourism.
- Some key
companies are Zimmer Biomet,
Johnson & Johnson, Smith & Nephew Plc., Stryker, and Aesculap
Implant Systems LLC.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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