(Health-NewsWire.Net, July 01, 2020 ) The Global HIP Replacement Devices Market is expected to reach USD 5.9 Billion, at a CAGR of 3.0%
The primary hip reconstruction procedures are performed to replace the complete hip joint. It consists of three components: a femoral stem, a femoral head, and an acetabular cup. As with the stem, the acetabular cup can be cemented or cementless, which is most common due to its superiority. A partial hip reconstruction is performed when only femoral component of hip joints is to be replaced. This type of implant uses similar modular components to a total hip replacement, however, either a unipolar or bipolar head along with femoral stem is used for this type of surgery. A partial hip prosthesis is comparatively less expensive and consumes less time for implant than a total replacement.
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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.
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The report gives an in-depth analysis of around 40 countries, including the U.S., Canada, Mexico, BRIC, Germany, France, Italy, Spain, the U.K., Russia, Japan, Taiwan, Singapore, South Korea, Australia, Saudi Arabia, UAE, South Africa, and others. North America accounted for the largest share of the global hip reconstruction devices market. The report also covers the average selling prices of hip implants and hip replacement procedure volumes in all the countries.
The report also provides a detailed competitive landscaping of companies operating in this market. The segment and country-specific company shares, new product launch, M&A, and product approvals of the major companies are detailed. Zimmer Inc. (U.S.), DePuy Synthes (U.S.), Stryker (U.K.), Smith & Nephew (U.K.), B. Braun Melsungen AG (Germany), Corin (U.K.), and Waldemar LINK GmbH & Co. KG (Germany) are some of the key players operating in this market.
Mr. Aashish Mehra