Global hip replacement implants market size to record massive valuation by 2027
SKYLINE MARKET RESEARCH LLP
7 min read
SKYLINE MARKET RESEARCH LLP
The latest report on ‘Global Hip Replacement Implants Market’ indicates the determinants driving the market expansion during 2022-2027. It lists the challenges likely to be faced by businesses in this domain through the review period and provides the solutions to mitigate their impact.
Pune, India, April 21, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, that global hip replacement implants industry size was worth USD 6764 million in 2021 and is predicted to record massive numbers between 2022 and 2027. The dramatic growth can be attributed to several determinants such as surging cases of diseases like joint pains, obesity, diabetes, hip disorders, etc. which are all a consequence of inactive lifestyle choices.
The document unveils a list of opportunities than can be leveraged to maximize profit generation for the stakeholders and incorporates the strategic approach and key trends to enhance the customer base.
It divides the industry in terms of type, surgical approach, and fixation approach to get a clear understanding of the projected growth rates and revenue earnings for the forecast period.
The report entails a list of companies along with their basic details and recent developments to furnish a concise depiction of the current standing of the corporate environment.
Moreover, the rising proportion of geriatric population who are more prone to such ailments is a key element contributing to the industry expansion.
Besides, technological breakthroughs observed by prominent pharmaceutical corporations in the form of innovative products that come with robot-assisted minimally invasive surgeries are likely to serve a huge portion of the population through customized implants. These long-lasting improvements increase the hip functionality of the patients which is estimated to bolster worldwide hip replacement implants industry development to a great extent in the forthcoming years.
COVID-19 Impact:
At the time of COVID-19 pandemic, due to restrictions placed on surgical procedures and cancellation of elective surgeries, the medical fraternity observed a huge decline in revenues which severely hampered the industry growth.
Nonetheless, with the decrease in cases, the pile-up of then postponed surgeries is now being cleared which is anticipated to lead to a rapid recuperation of the business sphere.
Regional Analysis:
Credible analysts cite that the market trends across Latin America, Middle East & Africa, Asia Pacific (Australia, India, Japan, China), Europe (UK, Spain, France, Germany), and North America (Canada, United States) are thoroughly studied to assess the regions contributing to increase the revenue flow through the projected timeframe.
Competitive Dashboard:
The key players defining the competitive hierarchy of global hip replacement implants industry include Zimmer Biomet Holdings Inc., Globus Medical Inc., B. Braun Melsungen AG, MicroPort Scientific Corporation, Stryker Corporation, Johnson & Johnson, Medartis Holding AG, Medacta International S.A., Smith & Nephew plc, and ConforMIS Inc. among others.
To access a sample copy or view this report in detail along with the table of contents, please click the link below:
The hip replacement market is projected to foresee commendable growth by 2027 due to the globally expanding geriatric population, medical advancements in hip replacement procedures, rising prevalence of osteoporosis, osteoarthritis, and hip fractures. Additionally, growing adoption of hip resurfacing devices among the patient population would also shape industry outlook. Hip replacement is a surgical procedure that is concerned with the removal as well as replacement of portions of the femur and pelvis, which form the hip joint. This surgery can be done traditionally or by utilizing minimally invasive technique. On the regional front, in 2020, hip replacement market in Middle East & Africa was valued at more than $200 million. The region is projected to witness significant growth over the coming time period due to growing awareness regarding hip replacement procedures across the countries in the region.
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