Press release
Hip Replacement Market is reaching US$9,128.5 mn at a CAGR of 8% between 2022-2031
Hip Replacement Market 2022
Hip Replacement Market is destined to grow on an impertinent note, i.e. reaching US$9,128.5 mn at a CAGR of 8% between 2022-2031. Personalization has taken over almost every sphere of the industry verticals, and healthcare is no exception. People have started looking at their healthcare picture such that they could actively take part in improving their physical and mental health on the daily basis. This personalization will be the face of the healthcare vertical in the forecast period.
According to the latest research by Persistence Market Research, the robotic-assisted hip replacement market is set to witness positive growth of CAGR 8% during 2021-2031. The global Robotic-Assisted Hip Replacement market is expected to be driven by technological advancements in the surgery method and minimally invasive techniques.
Get Free Sample Copy of this Report@ https://www.persistencemarketresearch.com/samples/32744
There are various advantages that robotic-assisted surgery provide over the traditional method. These may include better control and accuracy achieved during cutting of the damaged tissues and reduce the inaccuracies by 94%. Also, robotic-assisted hip replacement has better outcomes like reduce faster recovery and less pain. The major driver demand for Robotic-Assisted Hip Replacement is the increasing geriatric population, technological advancements and an increase in the number of hip surgeries. According to a UN report, the geriatric population will increase from 9.3 per cent in 2020 to around 16.0 per cent in 2050.
This growing population is more prone to arthritis and other bone diseases. Hence, the demand for minimally invasive robotic hip replacement will increase and will drive the market. Various technological advancements are happening to reduce the incision size and increase precision. These provide patient-specific 3D planning for hip joints and hence help surgeons to visualize the patient's hip anatomy and prepare accordingly. This acts as a driver for the market. An increase in the number of new players in the market and R & D investment by the companies for developing new techniques and acquiring other companies is expected to increase demand for robotic-assisted hip replacement during the forecast period.
In March 2020, WHO declared the outbreak of Covid-19 as a pandemic. Like any other sector, the healthcare sector was also tremendously impacted by it. To combat the deadly virus, the hospitals were asked only to perform essential surgeries. As a result, many orthopaedic surgeries including hip replacement surgeries were cancelled. According to research, in the US during covid-19 approximately 3000 revision hip and knee replacement procedures were cancelled each week. Hence, COVID-19 harmed this market which has led to major financial losses for the hospitals and manufacturers.
Some of the leading manufacturers of robotic-assisted hip replacement include,
Stryker
Intuitive Surgical
Think Surgical Inc.
Johnson & Johnson Services Inc.
Tinavi Medical Technologies Co.Ltd.
Medtronic
Room Biomet
Smith+Nephew
Globus Medical
NuVasive Inc.
Wright Medical Group N.V
Think Surgical Inc.
The market is majorly dominated by North America with countries like the US and Canada. This is due to the presence of major players in this region and increase in the healthcare spending. Better access to government funds and more acceptance of various grants and patents are also factors driving the market growth. This region is mainly driven by acquisitions.
Get a Customized Scope to Match Your Need Ask an Expert- https://www.persistencemarketresearch.com/request-customization/12037
For instance, Stryker Corp. one of the biggest companies working to bring robot-assisted surgery acquired Mako Surgical.The other region that is seeing growth is the Asia Pacific region. This is due to development in technologies and new players in the market. Also, there has been a surge in the prevalence of arthritis in this region.
Key Segments
By Application
Partial hip replacement
Total hip replacement
Hip resurfacing
By Product Type
Passive systems
Semi-active systems
Active systems
By Type of Technology
MAKO
CASPAR
ROBODOC system
By End-User
Hospital
Orthopaedic speciality clinic
Ambulatory Surgical centres
Academic and research institute
By Region
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa
Access Full Report@ https://www.persistencemarketresearch.com/checkout/32744
Key Questions Answered in the Hip Replacement Market Report
How is the Hip Replacement Market expected to grow over the projected period?
What direction is the Hip Replacement Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Hip Replacement Market in future?
What are the key market drivers in the Hip Replacement Market?
What are significant opportunities and improvement areas for Hip Replacement Market manufacturers?
What are the key developments and trends taking over the Hip Replacement Market?
Which are the emerging countries that are expected to create significant growth opportunities in the Hip Replacement Market?
Read Also-
Outsourced Clinical Trials & Formulation Market - https://www.persistencemarketresearch.com/market-research/outsourced-clinical-trials-and-formulation-market.asp
North America Vet Compounding Pharmacies Market - https://www.persistencemarketresearch.com/market-research/north-america-vet-compounding-pharmacies-market.asp
Contact us:
Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com
About us:
PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against rep/uted organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Hip Replacement Market is reaching US$9,128.5 mn at a CAGR of 8% between 2022-2031 here
News-ID: 2598008 • Views: …
More Releases from Persistence Market Research
North America Wiring Devices Market Projected to Reach USD 26.46 Billion by 2031
Overview of the North America Wiring Devices Market
The North America wiring devices market is poised for steady growth over the forecast period, with its size estimated at US$ 18.96 billion in 2024, projected to reach US$ 26.46 billion by 2031, reflecting a CAGR of 4.9%. The market is witnessing substantial expansion due to increasing urbanization, a rising number of residential and commercial construction projects, and the adoption of energy-efficient and…
Global Forged Automotive Components Market Poised for Steady Growth, Projected t …
The global forged automotive components market is on a robust growth trajectory, currently valued at approximately US$ 50.3 billion in 2025 and forecasted to expand to US$ 70.7 billion by the end of 2032. This growth represents a compound annual growth rate (CAGR) of 5.0% over the coming decade, driven by increasing automotive production, technological advancements, and evolving consumer preferences toward durable, high-performance vehicle parts.
Forged automotive components are critical to…
Global Electric Cargo Bike Market Set to Accelerate at 11.9% CAGR, Reaching US$ …
The global electric cargo bike market is set to experience substantial growth over the coming decade, with Persistence Market Research (PMR) forecasting a compound annual growth rate (CAGR) of 11.9% from 2023 through 2032. Valued at approximately US$ 800 million in 2021, the market is expected to surge to a projected valuation of US$ 2.14 billion by the end of 2032. Notably, electric cargo bikes accounted for 66.2% of the…
Bicycle Bearings Market Set for Steady Growth with 6.5% CAGR Through 2032, Drive …
The global bicycle bearings market is poised for significant expansion over the forecast period of 2025 to 2032, according to the latest report released by Persistence Market Research. Valued at approximately US$ 5.99 billion in 2024, the market is projected to reach US$ 6.35 billion by 2025 and further escalate to nearly US$ 9.86 billion by 2032. This growth trajectory reflects a compound annual growth rate (CAGR) of 6.5%, underscoring…
More Releases for Hip
Gospel Hip Hop and Christian Hip Hop has Its Hall of Fame: Emcee N.I.C.E. Induct …
Dr. Aulsondro "Novelist" Hamilton, professionally known as Emcee N.I.C.E., was honored with a prestigious induction into the Gospel Hip Hop and Christian Hip-Hop Hall of Fame during a remarkable ceremony held at the Black Wall Street Market in Atlanta, Georgia.
The establishment of a Gospel Hip Hop (GHH) and Christian Hip Hop (CHH) Hall of Fame was created to provide long-overdue recognition to artists who have made significant contributions to the…
Hip Replacement Market - Restoring Motion, Reclaiming Life: Hip Replacement for …
Newark, New Castle, USA: The "Hip Replacement Market" provides a value chain analysis of revenue for the anticipated period from 2022 to 2030. The report will include a full and comprehensive analysis of the business operations of all market leaders in this industry, as well as their in-depth market research, historical market development, and information about their market competitors
Hip Replacement Market: https://www.growthplusreports.com/report/hip-replacement-market/7789
This latest report researches the industry structure, sales, revenue,…
Have Hip Pain? See The Total Hip Replacement Guide
Regardless of whether you have just started started investigating treatment choices or have effectively chosen to a hip replacement medical procedure, we hope this data will enable you to comprehend the advantages and disadvantages of total hip replacement surgery. This article depicts how typical hip functions, the reasons for hip pain, what’s in store from with a THR (Total Hip Replacement), and what activities and exercises will help reestablish your…
HIP Replacement Devices Market Report 2018: Segmentation by Product (Product (Pr …
Global HIP Replacement Devices market research report provides company profile for Zimmer Inc. (U.S.), DePuy Synthes (U.S.), Stryker (U.K.), Smith & Nephew (U.K.), B. Braun Melsungen AG (Germany), Corin (U.K.), and Waldemar LINK GmbH & Co. KG (Germany) and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume,…
Hip Replacement Implant Market: Rising Incidence of Hip Bone Disorders Fuels Gro …
The top three players in the global hip replacement market, collectively, contributed 74.7% of the overall revenue generation of the market in 2015, indicating towards consolidated nature of this arena. These players are Johnson & Johnson, Zimmer Biomet Holdings Inc., and Stryker Corporation. Transparency Market Research (TMR) observes that strong portfolio, high geographic outreach, and strong brand recognition are some of the factors contributing to the dominance of these companies.…
Bernstein Liebhard LLP Applauds FDA’s Request that Hip Manufacturers Produce D …
Bernstein Liebhard LLP Applauds FDA’s Request that Hip Manufacturers Produce Data on Metal Poisoning and Hip Implants
New York 5/12/2011 04:40 PM GMT (TransWorldNews)
On May 6, 2011, the U.S Food and Drug Administration (“FDA”) ordered 21 medical device manufacturers, including Johnson & Johnson, Zimmer and Stryker, to conduct post-market analysis to determine whether their metal-on-metal hip replacement implants put patients at an increased risk for chromium and cobalt poisoning. …
