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The global femoral head prostheses market size is estimated to grow by USD 651.88 million at a CAGR of 4.96% between 2022 and 2027.
The number of hip replacements is increasing worldwide due to the increasing prevalence of orthopedic disorders and the rapid growth of the geriatric population. Currently, THRs represent the majority of hip replacements performed. The proportion of patients under 65 years old undergoing hypertension is increasing markedly. In the US, by 2030, it is expected that nearly 1/2 of THR surgeries will be performed on patients under 65 years of age. According to Geriatric Surgery and Rehabilitation (GOSR), the number of hip fractures in the US is expected to reach 840,000 by 2040. This is expected to drive the growth of the market during the forecast period.
Technavio has segmented the market into End-user, Material, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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The market share growth by the hospitals segment will be significant during the forecast period. Hospitals are the main end-users of prosthetic femoral heads. Hospitals perform various types of orthopedic surgeries and are the most preferred healthcare facility due to the availability of skilled medical and surgical professionals. Services provided by the hospital include diagnosis, outpatient consultation, surgical intervention, and treatment.
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The hospitals segment was valued at USD 1,136.17 million in 2017. The increasing number of patients coming to the hospital due to the increasing number of orthopedic surgeries such as total knee replacement, hip replacement, and other orthopedic surgeries has led to the use of prosthetic femoral heads in hospitals. Additionally, hospitals will continue to hold a significant share of the global femoral head prosthesis market, mainly due to the increasing incidence of orthopedic diseases and the convenience offered by hospital facilities. Thus, such factors will drive the growth of the growth of the market during the forecast period.
Ceramic femoral heads have been introduced as a potentially superior material compared to metal femoral heads. The frictional advantages of ceramic femoral heads over polyethylene (PE) result in reduced wear and bone resorption compared to metal femoral heads. Additionally, factors such as concerns about tournionosis (wear of the femoral head-neck interface) and/or cobalt-chromium (CoCr) tip corrosion contribute to the use of ceramic tips. Therefore, growing demand for ceramic femoral head prostheses is expected to drive the growth of this segment, thereby driving the global femoral head prostheses market during the forecast period.
Femoral heads made of other metals, such as aluminum oxide (Al2O3) and stainless steel, are also used in some patients. Al2O3 femoral heads reduce wear at least twice as much as traditional femoral heads, and the Al2O3-Al2O3 bearing pair delivers the lowest wear rates, with values ??50 to 100 times lower than traditional CoCr -UHMWPE couple. In some countries, stainless steel femoral heads are also used. due to many hip replacement procedures using a metal femoral prosthesis and the widespread availability of metal femoral prostheses. Thus, such factors will drive the growth of the market during the forecast period.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The US and Canada are the main revenue contributors to the North American market. The rapid growth of the femoral head prosthesis market in North America is due to the increasing use of advanced femoral head prostheses, improving healthcare infrastructure, and increasing number of joint replacements. Crotch.
Furthermore, leading suppliers such as Johnson and Johnson Services Inc. (Johnson and Johnson Services), Smith and Nephew, and Zimmer Biomet also generate a significant portion of their revenue in this region. Additionally, the Centers for Medicare and Medicaid Services (CMS) in the US provides insurance reimbursement for hip replacements, which has contributed to the increased demand for femoral head replacements in North America. Therefore, these factors are expected to drive the growth of the femoral head prostheses market in North America during the forecast period.
In 2020, the outbreak of COVID-19 negatively affected the regional femoral head prostheses market. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown restrictions. Furthermore, the easing of COVID-19-related restrictions has encouraged people to undergo health check-ups and treatments, leading to significant regional market growth in 2022. The increasing number of hip replacements and increasing per capita healthcare expenditure in the region are expected to drive the growth of the femoral head prostheses market in the region during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Bioimpianti Srl: The company offers femoral head prostheses such as CoCr Femoral Head, Morse Taper Metallic femoral head prosthesis.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
The increasing prevalence of osteoarthritis, rheumatoid arthritis, and trauma is the key factor driving the growth of the market. Osteoporosis causes about 9 million bone fractures worldwide every year. The three main types of fractures associated with osteoporosis are hip, wrist, and vertebral fractures. The increase in osteoporotic fractures is predicted to increase the need for prosthetic femoral heads. Rheumatoid arthritis is one of the most common chronic diseases, affecting 1 in 100 people across the globe.
Moreover, risk factors associated with osteoarthritis, osteoporosis, and rheumatoid arthritis are also increasing. For example, the incidence of osteoarthritis, osteoporosis, and rheumatoid arthritis increases significantly with age. Globally, the elderly population is also growing rapidly due to increasing life expectancy. Therefore, these factors are expected to increase the demand for femoral head prosthetics, which, in turn, will drive the growth of the market during the forecast period.
Increasing demand for femoral head prostheses of 28 mm or lesser is the primary trend in the market. Nowadays, the demand for prosthetic femoral head sizes less than or equal to 28 mm is huge. The high demand is due to the increasing use of dual mobility acetabular constructs in primary joint replacement. Dual-mobility acetabular structures typically use 28 or 22-mm heads in larger PE bearings that articulate with a polished acetabular liner or shell.
Moreover, the larger femoral head (40mm) is primarily used in arthroplasty procedures for better stability. Likewise, the increased use of 28mm heads has also been associated with the increasing use of dual-mobility structures for increased stability. Therefore, the demand for femoral head prosthetics of 28 mm and below is expected to drive the growth of the market during the forecast period.
A shortage of skilled orthopedic surgeons is a challenge that affects the growth of the market. The success of a hip replacement procedure depends greatly on the skill and experience of the orthopedic surgeon. In some developing countries, there is a notable shortage of orthopedic surgeons with expertise in performing hip replacement procedures. Even developed countries, such as the US, are expected to have a shortage of qualified orthopedic surgeons in the coming years.
Additionally, a noteworthy proportion of the world's currently practicing orthopedic surgeons are nearing retirement, and the rapidly growing geriatric population will require more orthopedic care in the future. Therefore, a shortage of qualified orthopedic surgeons is expected to hinder the growth of the global femoral head prostheses market during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Femoral Head Prostheses Market Customer Landscape
The femoral head prostheses market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Femoral Head Prostheses Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.96% |
Market growth 2023-2027 |
USD 651.88 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.12 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 40% |
Key countries |
US, Canada, Germany, China, and India |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Altimed JSC, Amplitude SAS, Corentec Co. Ltd., Corin Group Plc, Elite Surgical Pvt. Ltd., Exactech Inc., Gruppo Bioimpianti Srl, Johnson and Johnson, Lepu Medical Technology Beijing Co. Ltd., Medacta International SA, Meril Life Sciences Pvt. Ltd., Ortho Development Corp., Smith and Nephew plc, Surgival Co., TST Tibbi Aletler San. Ve Tic. Ltd. Sti., United Orthopedic Corp., Wuhan Yijiabao Biological Materials Co. Ltd., Zimed Healthcare Ltd., Zimmer Biomet Holdings Inc., and Normmed Medikal ve Makina San. Tic. Ltd. Sti. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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