The global hip replacement market size will increase with the advent of robot-assisted surgical procedures worldwide. Fortune Business Insights in their recent report titled, “Hip Replacement Market Size, Share & Industry Analysis, By Procedure (Total Hip Replacement, Partial Hip Replacement, and Revision & Hip Resurfacing), By End User (Hospitals & Ambulatory Surgery Centers, Orthopedic Clinics, and Others) and Regional Forecast, 2019-2026”,provides a comprehensive analysis of the market and their growth trajectories.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this [Market].
For More Information : https://www.fortunebusinessinsights.com/industry-reports/hip-replacement-implants-market-100247
Increase in Preference for Customized Hip Implants to Drive Market
The increasing geriatric population and their vulnerability to various health issues of the bones is a major driver for the hip replacement market growth.In addition, the increasing prevalence of osteoarthritis is adding a boost to the market and further expected to do the same in the coming years.In addition, there is a surge in demand for partial replacement surgeries. This, coupled with the advent of robot-assisted hip implants will help boost the hip replacement market shares in the coming years.
Moreover, the rise in preference for customized implants for both female and male patients is likely to drive the market. This is attributable to the introduction of 3D printing technology for the manufacturing of customized implants. Furthermore, government-supported health reimbursement policies set to provide affordable and quality care to all patients are anticipated to create lucrative growth opportunities for the market in the long run.
North America to Dominate Market with New Product Launches and Strategic Company Collaborations
The globalhip replacement market is classified geographically into five major regions namely Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa regions. In the current scenario, the market is dominated by North America with a hip replacement market revenue of USD 2.52 billion in 2018. This is on account of the surge in the number of hip replacement prostheses, rise in strategic collaborations among market vendors and new product launches. The launch of MiniMAX Hip, by Medacta International,was announced in November 2017. It is a cementless stem that will serve as an option for minimally invasive hip replacement surgery for surgeons in the U.S. Such innovations are likely to bode well for the market in the long run.
On the other hand, the market in Asia Pacific is expected to witness significant growth in the forecast duration on account of the increasing prevalence of hip osteoarthritis serving most of the geriatric population in the region. For instance, the Surgical Variance Report of 2107 reported the funding of about 9,947 hip procedures in private hospitals by a private health insurer in Australia called Medibank Private Limited during 2015-2016. Such health reimbursement policies are prognosticated to augment the hip implants market share in Asia Pacific.
More Trending Topics from Fortune Business Insights :
X-ray Flat Panel Detectors Market, Share, Growth, Sales and Drivers Analysis Research Report 2026
