HOME › Press Releases › HIP Replacement Market worth 5.9 Billion USD by 2020
HIP Replacement Market worth 5.9 Billion USD by 2020
The report "HIP Replacement Market by Product (Primary HIP Replacement (Cemented, Cementless), Partial HIP Replacement, Revision HIP Replacement, HIP Resurfacing), Geography (Americas, EU-5, Japan, BRIC, South-East Asia, MEA) - Forecast to 2020", The global hip reconstruction devices market report defines and segments the market with analysis and forecast of revenue. The global hip reconstruction devices market was valued at USD 4.8 Billion in 2014, and is estimated to reach USD 5.9 Billion by 2020, at a CAGR of 3.0% from 2015 to 2020.
Browse 105 market data tables and 114 figures spread through 228 pages and in-depth TOC on "HIP Replacement Market by Product (Primary HIP Replacement (Cemented, Cementless), Partial HIP Replacement, Revision HIP Replacement, HIP Resurfacing), Geography (Americas, EU-5, Japan, BRIC, South-East Asia, MEA) - Forecast to 2020"
Early buyers will receive 10% customization on reports.
The Global Hip Reconstruction Devices market is expected to witness substantial growth due to increasing number of arthritis patients, favorable reimbursement, and technological advancements
The global hip reconstruction devices market growth is attributed to the rise in the number of patients suffering from arthritis, technological advancements, and favorable reimbursement. Despite this, the pricing pressure, waiting list and risk of complications after implantation are some of the major hindering factors.
The government initiative of allocating new funds and development of new policies have reduced the waiting time for hip reconstructions, and increased the number of operations. However, it is difficult to achieve 90% threshold of patients that receive care within the regulated time.
The technological advancements in hip reconstruction market, such as newly developed prostheses with improved strength and reliability of joints are reducing the need and cost of revision surgery. The minimally invasive techniques for hip reconstruction surgery will improve the precision and accuracy of surgeons, thus reducing the time of surgery. The emergence of these techniques and other improved surgical tools for the treatment of arthritis is expected to address the rising demand for surgery during the forecast period.
In 2014, the global hip reconstruction devices market was dominated by North America. This market is segmented and forecast on the basis of product, and geography. The product comprises of primary hip reconstruction devices, partial hip reconstruction devices, revision hip reconstruction devices and hip resurfacing devices. The primary hip reconstruction devices are subsegmented into cementless and cemented reconstruction device. The market is further segmented and forecast on the basis of major geographies such as North America, Europe, and Asia-Pacific. These major geographies are further sub-segmented into major countries.
The market in North America is growing due to rising pool of arthritis, and favorable reimbursement. The European market is growing due to the technological advancements and is dominated majorly by Zimmer Inc. (U.S.) and Depuy Synthes (U.S.). The Asian market is growing due to growing health awareness among masses, along with increase in the spending capacity of the Indian population. Also, increasing number of population suffering from musculoskeletal disorders (MSD), government initiatives, and rising awareness towards hip reconstruction are propelling the market growth.
This report also includes the market share, approach for arriving at the market size, new technology developments, product matrix, life cycle analysis, Porter’s five forces analysis and price analysis by product. In this report, market metrics are also included such as drivers, restraints and upcoming opportunities in the market. In addition, it presents a competitive landscape and company profiles of key players in the market including major companies which provide hip reconstruction devices as a product.
The research study is aimed at identifying emerging trends and opportunities in the global hip reconstruction devices market along with detailed classifications, in terms of revenue. It provides comprehensive competitive landscape and identifies the key players with respect to market size and market share. The research study also includes a detailed segmentation of the global hip reconstruction devices market, on the basis of product, and region.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India