HIP Replacement Market | Latest Trend | Analysis 2020 | PBIGP

The hip replacement market is expected to grow worth 5.9 billion by 2020

The report on knee implant joint replacement market gives historical, current, and future market sizes on the basis of product type, end user, and geographic regions. This report studies Hip replacement market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Hip and knee orthopedic surgical implants market report includes technology advancements; regulatory scenario and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Key stakeholders of the knee implant joint replacement market report include suppliers, manufacturers, marketers, policymakers, and healthcare service providers engaged in manufacturing, supply and usage of hip replacement.

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The growing baby-boomers and geriatric populations who are at risk of hip or joint fracture expected to drive the market demand hip replacement devices. Moreover, increasing incidence of hip fractures and injuries creating ample growth opportunities for the players operating in the hip replacement market, this is expected to drive the market revenue growth. For instance, in 2016, according to World Bank population statistics, population ages 65 and above is estimated to be around 8.5% of total population and projected to increases geriatric population, which in turn affect the market growth positively.

Joint replacement market in recent times has become mature market in developed regions, where the hip replacement devices have become commoditized with several players are need to provide low priced products in order to sustain the market position, this is expected to improve the adoption rate of devices over the short term and projected to drive market value and volume growth. Moreover, favourable reimbursement policies are expected to drive the market revenue growth positively over a short-term period. For instance, in U.S, the hip and knee replacement cost to Medicare is more than USS 7 Billion in hospital cost.
North America market leads the global knee implant joint replacement market and projected to remain same owing to favourable reimbursement procedures in the region. Europe and Asia-pacific Hip and knee orthopedic surgical implants market projected to grow at significant rate owing to large patient population and increasing incidence of hip fracture in the region.

Some of the key players in the global Hip and knee orthopedic surgical implants market include Braun Melsungen AG (Germany), Corin (U.K.), DePuy Synthes (U.S.), Exactech Inc. (U.S.), Microport Scientific Corporation (China), Smith & Nephew (U.K.), Stryker (U.K.), Waldemar LINK GmbH & Co. KG (Germany), Zimmer Inc. (U.S.).

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