"Designing Growth Strategies is in our DNA"
Region : Global | Published Date: Upcoming | Report ID: FBI100247| Status : Upcoming
In August 2018, Conformis, a Global Orthopedic Implants manufacturer, launched its first 3D printed implants for hip replacement surgeries. Later in 2018, the first hip replacement surgery was performed successfully by using 3D hip implants in Florida, U.S., post the product launch. Adoption of new strategies and advances in surgeries such as minimal invasive surgeries, robotic procedures and others have led to overcoming the challenges in replacement surgeries, provided by a high amount of precision with improved patient treatment outcomes.
Hip Implants are primarily intended to relieve pain, provide support and restore mobility associated with hip diseases and injuries. In February 2019, the research team from Bristol University concluded that six out of ten hip impants have the capability to provide rigid support to the patient for an estimated 25 years.
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The Global Hip Replacement Implants Market is expected to witness a strong growth during the forecast period, owing to advancements in surgeries such as robotic hip surgeries and others, along with increasing prevalence of hip injuries. According to the World Health Organization (WHO), in 2018, an estimated 15.0% of the global population were affected by degenerative joint disease globally. Moreover, more than 130 million global population is expected to get affected due to degenerative joint disease by 2050.
Increased risk of hip dislocation, joint infection, the difference in leg lengths, and risk of device damage such as device loosening or breakage are expected to hamper the growth of the global hip implants market.
Some of the key players that are operating in the global hip erplacement implants market are Stryker, Smith and Nephew, DJO Global, Inc., OMNI, Exactech, Inc., MicroPort Scientific Corporation, Zimmer Biomet, ConforMIS, Wright Medical N.V. amongst others.
· Total Hip Replacement Implants
· Fixed Bearing Hip Implants
· Mobile-Bearing Total Hip Implants
· Partial Hip Replacement Implants
· Hip Resurfacing Implants
· Revision Hip Replacement Implants
By End User
· Orthopaedic Clinics
· Ambulatory Surgery Centres
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Among the product types, total hip implants are expected to register comparatively major share owing to increasing adoption of these implants and robotic surgical advancements in hip implant surgeries.
North America is projected to dominate the global hip replacement implants market presently owing to the rising incidence of hip injuries and benefits offered by hip implant surgeries. According to research conducted by Centres for Disease Control and Prevention (CDC), in 2018, an estimated 30.0 million people in the U.S. were affected by osteoarthritis. Additionally, rise in risk factors for causing hip diseases such as obesity, fatal accidents, smoking and others offers higher opportunity for increased prevalence of hip diseases which will eventually boost the adoption of surgeries resulting into growth of the global hip replacement implants market in near future.
Asia Pacific region holds huge demand for growth of the global hip replacement implants market owing to increasing awareness about hip replacement surgeries and climbing healthcare infrastructure. As the Asia Pacific serves favourable environment for adoption of hip replacement procedures, market players in orthopaedic replacement products are strategizing their distribution channel for penetrating the untapped market.