U.S. Hip Implants Market 2018 Global Size, Industry Share, Segments, Competitive Landscape, Recent Trends and Development in Industry till 2023

According to Optima Insights, the U.S.Hip Implants Market is estimated to be valued at US$ XX million in 2017 and is projected to exhibit a CAGR of 5.7 % over the forecast period (2019 - 2023).

Key Trends and Analysis of the U.S. Hip Implants Market:

Hip Osteoarthritis (OA) is one the major cause to perform a hip replacement. Most of the patients undergoing total hip replacement are aged between 50-80 years. The number of total hip arthroplasties performed on the patients 18-64 years old has increased by 91% between 2003 and 2013. A recent study published by the Arthritis Association, more than 50% of total hip arthroplasties would be performed in patients younger than 65 by 2030.

The lifetime risk of developing symptomatic hip osteoarthritis is 25%. In 2011, a total of 512,000 hip replacements were performed.Among all the patients primary total hip arthroplasty is projected to grow by 75% between 2010 and 2020. The total lifetime societal savings for hip replacement were estimated at ~$10 billion from more than 300,000 procedures performed every year in the U.S. The average cost of total hip replacement procedure is $30,124. Compared to the non-surgical treatments the total hip arthroplasty increased the average annual productivity of patients by $9,503.

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In 2018, Stryker Corp.&DePuy Synthes received 510(k) approvals for Exter V40, and Corail, Summitbrands respectively, from the U.S. Food and Drug Administration (FDA). In 2017 Zimmer& DJO Global received FDA approvals for Fitmore hip stem and Exprt Revision hip systems respectively.With the recentand upcoming product launches, thehip implants market is expected to witness a growth of 1.2x.

The market growth is expected to hinderdue to stringent FDA guidelines on the hip implants, the re-hospitalization of the patientsas a result ofthe post-surgical complications like infections, leg-length inequality, blood clots, and dislocation.

Key Market Takeaways:

• The U.S. Hip Implants Market is expected to exhibit a CAGR of 5.7% during the forecast period (2019 - 2023), with the increase in hip arthroplasty procedures.

• The increase in geriatric population and incidences of road accidents leading to complicated hip trauma where there might be necessity of hip replacement is expected to boost the market for total hip replacement.

• Some of the key competitors in the U.S. Hip Implants Market include Stryker Corporation, Zimmer Biomet Holdings, Inc., DJO Global, OMNIlife science, Inc., DePuy Synthes, Exactech Inc., B.BraunMelsungen AG, and Microport Scientific

Optima Insights has a geographical/regional coverage on five major regions, include, North America, Latin America, Europe, Asia Pacific,and Middle East & Africa. This extensive regional coverage also deep dives into major 26 countries, include, U.S., Canada, Brazil, Mexico, Argentina, Rest of Latin America, U.K., Germany, France, Italy, Spain, Russia and Rest of Europe, India, China, Japan, Australia, South Korea, Australia, ASEAN, Rest of Asia Pacific, Israel, GCC, Rest of Middle East, North Africa, Central Africa and South Africa.

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