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Endoprosthesis are termed as mechanical devices that are placed inside the body in order to replace a missing or damaged body part. These deal with the implantation of artificial mechanical devices within teeth, facial bone, knee, femur, blood vessels and other parts of the body to support the motor control lost as result of any disease or injury or accident. Endoprosthesis have wide-spread applications in hip replacement, joint replacement, knee replacement, femur replacement and others surgeries. According to the Centers for Disease Control and Prevention, the number of total hip replacements among patients aged 45 years and above increased from 138,700 in 2000 to 310,800 in 2010 in the U.S.
Key Market Driver -
Technological advancements in endoprosthesis devices
Key Market Restraint -
High cost associated with endoprosthesis devices
The global endoprosthesis market growth is being driven by technological advancements in endoprosthesis devices and increasing awareness about endoprosthesis among people. Moreover, rising incidence of orthopaedic injuries and increasing prevalence of cardiovascular diseases are factors driving the global endoprosthesis market growth. However, the high cost associated with the endoprosthesis devices is a factor that inhibits the global endoprosthesis market growth during the forecast period.
The major companies in the global endoprosthesis market report include Boston Scientific Corporation, Hanger Clinic, Zimmer Biomet, W.L. Gore & Associates, Inc., Smith & Nephew, Ossur Corporate, TRULIFE, College Park Industries, Stryker, DePuy Synthes, Arthrex, Inc., and other players.
The global endoprosthesis market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America is expected to dominate the global endoprosthesis market in the forecast years owing to the rapid adoption of technologically advanced healthcare products.
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The global endoprosthesis market is projected to expand in Europe and Asia Pacific, as a result of improving health infrastructure and favourable reimbursement policies in specific countries. Latin America and Middle East & Africa are estimated to project a significant CAGR by the end of the forecast period.
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