SAN FRANCISCO, Sept. 3, 2019 /PRNewswire/ -- The global hip replacement implants market size is expected to reach USD 7.8 Billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to expand at exhibiting a CAGR of 4.7% over the forecast period. Growing prevalence of osteoarthritis & osteoporosis are expected to drive growth over the forecast period. In addition, a paradigm shift toward minimally invasive procedures is fueling the market globally. Moreover, favorable reimbursement policy is further propelling growth.
Key suggestions from the report:
- Increasing demand for minimally invasive surgeries is anticipated to create growth opportunities in the hip replacement implants market.
- Increasing number of sports injuries & road traffic accidents are driving demand for total replacement surgeries.
- Total hip implants accounted for the largest revenue share as of 2018, owing to technological advancements and growing adoption.
- Metal-on-polyethylene (MOP) held the largest share of material segment due to its minimal surgical risk and negligible post-surgery complications.
- Hospitals & surgery centers held the largest revenue share of end-use segment due to maximum number of surgeries performed within these facilities.
- North America held the dominant share as of 2018, due to supportive government initiatives and presence of large number of industry players.
- Asia Pacific is anticipated to witness lucrative growth due to increase in the target population and booming medical tourism.
- Some key companies are Zimmer Biomet, Johnson & Johnson, Smith & Nephew Plc., Stryker, and Aesculap Implant Systems LLC.
Read 100 page research report with TOC on "Hip Replacement Implants Market Size, Share, & Trends Analysis Report By Product (Total Hip, Partial Femoral Head), By Application, (MOM, MOP, COP), By End Use (Orthopedic Clinics), By Region, And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/hip-replacement-implants-market
Moreover, individuals aged 60 years and above accounted for 12.3% of the global population in 2015 and this population is expected to reach 21.5% in 2050. Thus, increasing population of those aged 60 years and above is expected to impel growth. Moreover, increasing adoption of minimally invasive surgeries coupled with availability of variety of advanced treatment options is a key factor driving the market.
Grand View Research has segmented the global hip replacement implants market on the basis of product, application, end use, and region:
- Hip Replacement Implants Product Outlook (Revenue, USD Million, 2014 - 2026)
- Total Hip
- Partial Femoral Head
- Hip Resurfacing
- Revision Hip
- Hip Replacement Implants Application Outlook (Revenue, USD Million, 2014 - 2026)
- Hip Replacement Implants End-use Outlook (Revenue, USD Million, 2014 - 2026)
- Orthopedic Clinics
- Hospitals & Surgery Centers
- Hip Replacement Implants Regional Outlook (Revenue, USD Million, 2014 - 2026)
- North America
- Asia Pacific
- Latin America
- East & Africa
- South Africa
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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