Hip Replacement Implants Market to Reach a Market Size of $7.4 Billion by 2025 - KBV Research
NEW DELHI, Dec. 2, 2019 /PRNewswire/ -- According to a new report, Global Hip Replacement Implants Market, published by KBV research, the Global Hip Replacement Implants Market size is expected to reach $7,390.32 million by 2025, rising at a market growth of 5.0% CAGR during the forecast period. The accelerated demand for hip replacement surgical procedures, expansion in the elderly population, and the prevailing lower extremity conditions like osteoporosis, osteoarthritis (OA), and hip ailments have come forth as some of the prominent growth propelling factors.
The North America market dominated the Global Hip Replacement Implants Market by Region in 2018, and would continue to be a dominant market till 2025; thereby, achieving a market value of $3,234.7 million by 2025, growing at a CAGR of 4.4 % during the forecast period. The Europe market is expected to witness a CAGR of 4.6% during (2019 - 2025). Additionally, The Asia Pacific market is expected to witness a CAGR of 6.4% during (2019 - 2025).
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The key players of the Hip Replacement Implants Market are employing novel concepts and ideas, improving techniques and improving the current set of products, besides enhancing their profitability so as to gain a competitive edge over other market players. Therefore, the key players have adopted Partnerships, Collaborations & Agreements as the key developmental strategy in order to keep pace with the changing demands of end users. For instance, Stryker has acquired Invuity, Inc. for developing instruments which delivers enhanced visualization for orthopaedic and other clinical applications. Zimmer acquired CD Diagnostics in order to expand its business in surgeries. Exactech has expanded its reach to Japan by launching knee, shoulder and hip replacement systems. MicroPort expanded its operations to India by opening a new subsidiary in order to expand its business.
The Metal-on-Polyethylene market garnered the highest market share in the Global Hip Replacement Implants Market by Application in 2018, and is expected to achieve a market value of $2,524 million by 2025, rising at a CAGR of 4.4% during the forecast period.
The largest share of the revenue for the end-use segment was held by hospitals and surgery centers in 2018. This segment is influenced by the increased percentage of hip replacement surgeries in surgery centers. These centers are well-equipped with advanced technology and professional healthcare professionals, which further boost sector development.
The report highlights the adoption of Hip Replacement Implants globally. Based on Application, the market is segmented into Metal-on-Metal, Metal-on-Polyethylene, Ceramic-on-Polyethylene, Ceramic-on-Metal and Ceramic-on-Ceramic. Based on Product, the market is segmented into Total Hip, Partial Femoral Head, Hip Resurfacing and Revision Hip. Based on End Use, the market is segmented into Orthopedic Clinics, Hospitals & Surgery Centers and Other End Use. The report also covers geographical segmentation of Hip Replacement Implants market. The geographies included in the report are North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. For the better analysis, the geographies are segmented into countries.
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Key market participants profiled in this report includes Zimmer Biomet Holdings, Inc., Stryker Corporation, MicroPort Scientific Corporation, Smith & Nephew PLC, ConMed Corporation, B. Braun Melsungen AG, Exactech, Inc., Corin Group PLC, Colfax Corporation (DJO Global, Inc.) and Johnson & Johnson.
Scope of the Study
Market Segmentation:
By Application
- Metal-on-Metal
- Metal-on-Polyethylene
- Ceramic-on-Polyethylene
- Ceramic-on-Metal
- Ceramic-on-Ceramic
By Product
- Total Hip
- Partial Femoral Head
- Hip Resurfacing
- Revision Hip
By End Use
- Orthopedic Clinics
- Hospitals & Surgery Centers
- Other End Use
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- Latin America, Middle East and Africa (LAMEA)
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled:
- Zimmer Biomet Holdings, Inc.
- Stryker Corporation
- MicroPort Scientific Corporation
- Smith & Nephew PLC
- ConMed Corporation
- B. Braun Melsungen AG
- Exactech, Inc.
- Corin Group PLC
- Colfax Corporation (DJO Global, Inc.) and
- Johnson & Johnson
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