Global Hip Replacement Implants Market to Exhibit 3.9% CAGR from 2017 to 2024

A market research report recently added to the Marketresearchreports.biz, the global market for hip replacement implant is expected to exhibit a CAGR of 3.9% over the period between 2017 and 2024. The report is titled “Hip Replacement Implant Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2024.”

The report uses current and historic statistics to predict that the global hip replacement implants market will cross US$9 bn by the end of 2024. The market has promising scope of growth for due to the massive demand for hip replacement implants across the world. Geriatric population across the globe is growing at an alarming rate. This demographic being the leading consumers of hip replacement implants, their rising population is expected to have a direct positive impact on the growth prospects of the global hip replacement implant market over the forecast period.

Countries across the globe, especially emerging economies, are focusing on providing effective healthcare facilities and intensifying their research and development efforts. Efforts to make technologically advanced treatments easily available are also rising in these economies. These factors are expected to work well for the global hip replacement implant market.

The report segments the global hip replacement implants market on the basis of criteria such as product type, material, end-user, and geography. Based on product type, the market has been segmented into hip resurfacing implant, partial hip replacement implant, total hip replacement implants, and revision hip replacement implant. Of these, the segment of total hip replacement implant is the most lucrative owing to the high prevalence of osteoarthritis and osteonecrosis.

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In terms of material, the segment of metal-on-polyethylene accounted for the dominant share in the overall market in 2015 and is expected to remain one of the most promising segments over the forecast period as well. However, the segment of ceramic-on-polyethylene is expected to surpass other segments in terms of growth pace over the report’s forecast period.

In terms of end-use, the market has been examined for ambulatory surgical centers, orthopedic clinics, and hospitals. Of these, hospitals accounted for a massive 64.5% of the overall market in 2015. The segment of orthopedic clinics holds the second spot in the market and is likely to continue to witness expansion at a steady pace in the near future.

Geographically, the report covers the hip replacement implants market for regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The market in North America is presently the leading regional market, accounting for nearly 52% of the overall market in 2015.

The report includes a detailed examination of the competitive landscape of the global hip replacement implants market as well, including detailed business profiles of some of the leading companies in the market and detailed regarding recent developments. Some of the leading companies in the market are MicroPort Scientific Co rporation, Zimmer Biomet Holdings Inc., Stryker Corporation, OMNIlife Science Inc., Exactech Inc., B. Braun Melsungen AG, and DJO Global Inc.

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