Hip Resurfacing Implants Market to Exceed US$ 195 Mn in 2025
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Global Hip Resurfacing Implants Market: Forecast Highlights
According to the research report, the global hip resurfacing implants market is expected to grow at a slow pace during the period of assessment. The global market is valued at around US$ 160 Mn in 2017 and is estimated to reach a valuation of about US$ 195 Mn by the end of the period of forecast (2025). The global hip resurfacing implants market is projected to grow at a sluggish CAGR of 2.7% throughout the period of forecast, 2017-2025.
Global Hip Resurfacing Implants Market: Key Growth Influencing Factors
Various aspects have impacted the growth of the global market for hip resurfacing implants. Factors such as rising demand for metal-on-metal resurfacing implants, increasing advancements to facilitate outpatient settings owing to which outpatient hip arthroplasty has gained momentum, low cost of hip resurfacing in underdeveloped regions, rising acceptance of minimally invasive hip replacements, increasing technological advancements and emergence of robot assisted surgeries have contributed to the growth of the global hip resurfacing implants market. However, recall of implants used in hip resurfacing, lack of awareness about hip resurfacing implants, growing failure rates leading to reduction in hip resurfacing volumes in several regions and metal ion risk in metal-on-metal implants used in hip resurfacing ultimately leading to the failure of the implant are posing hindrances to the growth of the global hip resurfacing implants market.
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Global Hip Resurfacing Implants Market: Segmental Insights
The global resurfacing implants market has been segmented by material type, by end user and by region.
By region, North America region is expected to show high market attractiveness for hip resurfacing implants. The hip resurfacing implants market in North America is expected to reach a value of about US$ 100 Mn by the end of the forecast period and is the largest compared to other regions. Asia Pacific hip resurfacing implants market is projected to grow at the highest rate to reach a CAGR of 3.1% throughout the period of forecast
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By end user, hospitals is the most lucrative segment in the coming years. It is expected to grow at the highest CAGR to reach a significant valuation of about US$ 110 Mn by the end of 2025
By material type, hybrid alloy segment witnessed a high market share and is estimated to reflect a high valuation a little under US$ 100 Mn by the end of the assessment year
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Global Hip Resurfacing Implants Market: Competitive Assessment
The research report on global hip resurfacing implants market includes detailed analysis on competitors along with their details such as SWOT analysis, company overview, product portfolio, market share, mergers and acquisitions, geographical spread and future market expansion plans along with key strategies. The research study has included analysis on major companies such as Zimmer Biomet Holdings, Inc., Smith & Nephew, MicroPort Scientific Corporation, Corin Group Plc, BioPro, Implantcast GmBH and MatOrtho Limited.
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