PUNE, India, January 26, 2016 /PRNewswire/ --
According to a new market research report "HIP Reconstruction Devices Market by Product (Primary, Partial, Revision, Hip Resurfacing), and Geography (U.S., Canada, EU-5, Japan, BRIC, Turkey, Indonesia) - Global Forecast to 2020", published by MarketsandMarkets, The global market report defines and segments the market with analysis and forecast of revenue. The global hip reconstruction devices market was valued at USD 4.8 Billion in 2014, and is estimated to reach USD 5.9 Billion by 2020, at a CAGR of 3.0% from 2015 to 2020.
Browse 105 market data Tables and 114 Figures spread through 228 Pages and in-depth TOC on "HIP Reconstruction Devices Market"
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The Global Hip Reconstruction Devices market is expected to witness substantial growth due to increasing number of arthritis patients, favorable reimbursement, and technological advancements.
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.
In 2014, the global hip reconstruction devices market was dominated by North America. This market is segmented and forecast on the basis of product, and geography. The product comprises of primary hip reconstruction devices, partial hip reconstruction devices, revision hip reconstruction devices and hip resurfacing devices. The primary hip reconstruction devices are subsegmented into cementless and cemented reconstruction device. The market is further segmented and forecast on the basis of major geographies such as North America, Europe, and Asia-Pacific. These major geographies are further sub-segmented into major countries.
The market in North America is growing due to rising pool of arthritis, and favorable reimbursement. The European market is growing due to the technological advancements and is dominated majorly by Zimmer Inc. (U.S.) and Depuy Synthes (U.S.). The Asian market is growing due to growing health awareness among masses, along with increase in the spending capacity of the Indian population. Also, increasing number of population suffering from musculoskeletal disorders (MSD), government initiatives, and rising awareness towards hip reconstruction are propelling the market growth.
This report also includes the market share, approach for arriving at the market size, new technology developments, product matrix, life cycle analysis, Porter's five forces analysis and price analysis by product. In this report, market metrics are also included such as drivers, restraints and upcoming opportunities in the market. In addition, it presents a competitive landscape and company profiles of key players in the market including major companies which provide hip reconstruction devices as a product.
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The research study is aimed at identifying emerging trends and opportunities in the global Hip Reconstruction Devices Market along with detailed classifications, in terms of revenue. It provides comprehensive competitive landscape and identifies the key players with respect to market size and market share. The research study also includes a detailed segmentation of the global hip reconstruction devices market, on the basis of product, and region.
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