Lewes, DE -- (SBWire) -- 08/12/2016 --Report forecast the global hip prosthesis market to grow at a CAGR of 2.57% during the period 2016-2020.
Hip replacement surgery is an orthopedic procedure that includes the replacement of the damaged hip joint with a prosthesis made from metal and plastic components. Total hip replacement and partial hip replacement and resurfacing are the two types of hip replacement surgeries. Traditional or MI techniques can perform both surgeries. The surgeries are conducted to relieve patients from arthritic pain or repair hip fracture.
The global hip prosthesis devices market is growing at a slow growth pace. The market is mature in developed countries and has vast opportunities to grow in emerging countries. The THA surgery has evolved in recent years, and the advances in technology have made it possible to improve surgical techniques.
The report covers the present scenario and the growth prospects of the global hip prosthesis market for 2016-2020. To calculate the market size, we consider revenue generated from the sales of hip prosthesis devices to hospitals and ambulatory surgical centers (ASCs).
The market is divided into the following segments based on geography:
- Americas
- EMEA
- APAC
According to the report, increased number of road accidents is a key driver for the market. Globally, around 20-50 million people are estimated to be injured or disabled each year because of road accidents. Road injuries, including fractures, take an enormous toll on an individual's health. In case of severe fractures, patients may take several weeks or months to recover. Economically, people living in middle- and low-income countries are affected the most by such injuries. In case of orthopedic trauma, the healthcare infrastructure in developing countries is required to provide long-term healthcare facilities for individuals with hip, spinal, knee, feet, or ankle injuries.
Further, the report states that high cost of THA procedure is a challenge to market growth. Hip replacement surgeries are expensive. In the US, each surgery costs more than $40,500. The initial cost of a surgery is based on the type of product used. Also, this surgery includes indirect and direct costs such as admission fee, physician fee, and post-hospital rehabilitation expenses. Readmission for treating spinal fusion surgery-associated complications such as pain at bone graft site, nerve injuries, and graft rejection can further increase the costs. Although these surgeries offer quick recovery and better patient outcomes, the majority of people do not opt for these surgeries due to their high cost.
Global Hip Prosthesis Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the global hip prosthesis market: Johnson & Johnson, Smith & Nephew, Stryker, and Zimmer-Biomet.
Other Prominent Vendors in the market are: Aesculap Implant Systems, Altimed, Arthrex, B Braun Medical, ConforMIS, Corentec, Corin, Elite Surgical, Exactech, JRI, Lima Corporate, Microport, Ortho Development, Synimed, and Tornier.
Market driver
- Advances in hip replacement surgery procedures
- For a full, detailed list, view our report
Market challenge
- Post-surgery complications and risk of revision surgery associated with hip replacement
- For a full, detailed list, view our report
Market trend
- Reimbursement beneficiaries through bundled payment initiative for hip replacement
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 82 pages and 55 Exhibit "Global Hip Prosthesis Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Hip prosthesis: An overview, Market segmentation by surgical procedures, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
For more information Visit at: http://www.marketresearchreports.com/technavio/global-hip-prosthesis-market-2016-2020
Related Reports;
Global Meningococcal Vaccines Market 2016-2020 - Visit at - http://www.marketresearchreports.com/technavio/global-meningococcal-vaccines-market-2016-2020
Global Gesture Recognition Market for Emerging Applications 2016-2020 - Visit at - http://www.marketresearchreports.com/technavio/global-gesture-recognition-market-emerging-applications-2016-2020
Global Embolic Protection Devices Market 2016-2020 - Visit at - http://www.marketresearchreports.com/technavio/global-embolic-protection-devices-market-2016-2020
About Market Research Reports, Inc.
Market Research Reports, Inc. is the world's leading source for market research reports and market data. We provide you with the latest market research reports on global markets, key industries, leading companies, new products and latest industry analysis & trends.
Yearly/Quarterly Report Subscription: http://www.marketresearchreports.com/subscriptions
