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The femoral prostheses market size is forecast to increase by USD 768.1 million at a CAGR of 4.5% between 2023 and 2028. The orthopedic industry is experiencing significant growth due to the rising prevalence of orthopedic diseases and associated risk factors, such as obesity, aging population, and sedentary lifestyles. This trend is further fueled by the increasing number of hip replacement surgeries performed each year. According to the American Academy of Orthopaedic Surgeons, over 400,000 hip replacements are performed annually in the United States alone. Advances in femoral prostheses, including improved materials and designs, have led to greater durability, reduced complications, and enhanced patient outcomes. These developments are driving innovation in the orthopedic industry and providing new opportunities for companies specializing in hip implants and related technologies.
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In the field of orthopedics, advancements in metal femoral head and prosthetic implant technology have revolutionized hip prosthesis treatments, offering solutions like spherical-head prosthesis for improved patient mobility. Conducting a thorough competitor analysis, country analysis, and ESG analysis helps stakeholders understand market dynamics and environmental, social, and governance impacts. Tools such as Porter's analysis and PESTEL analysis guide strategic decisions, evaluating factors from market competition to political, economic, social, technological, environmental, and legal aspects. Trends in mergers & acquisitions and joint ventures shape industry landscapes, fostering collaboration and innovation in orthopedic care. These analyses enable informed decisions in developing and deploying advanced prosthetic implants and hip prostheses, ensuring quality healthcare solutions meet evolving patient needs and regulatory standards.
Rising prevalence of orthopedic diseases and associated risk factors is notably driving market growth. The global market is witnessing significant growth due to the rising prevalence of hip dislocations, hip replacement surgeries, and orthopedic conditions such as osteoarthritis and rheumatoid arthritis. Osteoarthritis, which ranks fifth among all forms of disability worldwide, affects millions of people, leading to an increased demand for hip prostheses. Similarly, rheumatoid arthritis, a chronic disease affecting approximately one in every 100 individuals, is another major driver for the market. Hip replacement surgeries, often performed due to trauma or degenerative conditions, also contribute significantly to the demand for femoral prostheses. In recent years, technological advancements have led to the development of sphericalhead prostheses and other advanced femoral head prostheses.
Furthermore, orthopaedic surgeons are increasingly adopting robotic hip replacement procedures, which offer greater precision and accuracy. Companies in the femoral prostheses market are focusing on capacity expansions, plant turnarounds, and strategic decisions to stay competitive. Market attractiveness analysis, patent analysis, and consumer behavior analysis are crucial for companies looking to expand their market share. The market is characterized by a competitive nature, with fragmentation dominance, amalgamation traits, and a few companies occupying the forefront, pathfinder, niche, vital, and accumulation quadrants. Product satisfaction and consumer preferences play a vital role in the success of companies in this market. Thus, such factors are driving the growth of the market during the forecast period.
Increasing focus on robotic hip replacement surgeries is the key trend in the market. The market is experiencing significant growth due to the increasing number of hip dislocations, hip replacement surgeries, and the rising prevalence of conditions such as osteoarthritis and rheumatoid arthritis. Hip prostheses, including spherical head prostheses, play a crucial role in restoring mobility and improving the quality of life for patients. Robotic platforms are increasingly being utilized in hip replacement surgeries due to their precision and minimal invasiveness. These systems enable orthopaedic surgeons to customize procedures according to the patient's unique anatomy, resulting in implants that fit perfectly and function effectively over long periods.
Furthermore, the market is witnessing capacity expansions and plant turnarounds as vendors focus on strategic decisions to expand their presence. Patent analysis, consumer behavior analysis, and technological advancements are key areas of focus for market attractiveness. Company profiling, expansion, product satisfaction, and the competitive nature of the market are essential quadrants for understanding the market's current state. The market is characterized by fragmentation dominance, amalgamation traits, and vital players, making it an exciting space for innovation and growth. Thus, such trends will shape the growth of the market during the forecast period.
High cost of hip replacement surgeries and declining reimbursements is the major challenge that affects the growth of the market. The market for femoral prostheses is driven by the increasing number of hip dislocations, hip replacement surgeries, and the rising prevalence of conditions such as osteoarthritis and rheumatoid arthritis. Hip prostheses, including spherical head prostheses, play a crucial role in restoring mobility and improving the quality of life for patients. However, the high costs associated with hip replacement surgeries, which can be influenced by factors like the type of implant, surgical complexity, and healthcare facility expenses, pose a significant challenge to market growth.
Furthermore, orthopaedic surgeons are continually making strategic decisions to expand capacity and improve patient satisfaction through technological advancements, such as robotic hip replacement. Market attractiveness is influenced by patent analysis, consumer behavior analysis, and the competitive nature of the industry. Company profiling, expansion, and amalgamation traits are essential for understanding the market landscape. The market is characterized by fragmentation dominance and vital competition among key players. The quadrants of the market can be segmented into the forefront, pathfinder, niche, and vital categories based on their market positioning and growth potential. The competitive nature of the market necessitates continuous accumulation and innovation to maintain market share. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting 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 market growth and forecasting strategies.
Market Customer Landscape
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.
AK Medical Holding Ltd. - The company offers femoral prostheses products such as AK ACP bone cement femoral stem.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
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.
The market share growth by the Femoral heads segment will be significant during the forecast period. The market for femoral prostheses, specifically femoral head prostheses, experiences significant demand due to the increasing prevalence of hip dislocations and the subsequent need for hip replacement surgeries. These procedures involve the implantation of a prosthetic femoral head into the hip joint, which can be made of various materials including metal, ceramic, and ceramicized materials.
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The Femoral heads segment was valued at USD 2.01 billion in 2018. Traditionally, metal femoral heads, typically made of cobalt-chromium (CoCr), have been widely used due to their cost-effectiveness and comparable wear rates to ceramic femoral heads. However, other metals such as aluminum oxide (Al2O3) and stainless steel are also utilized in certain cases. The global market for femoral prostheses is subject to strategic decisions, capacity expansions, and plant turnarounds by key players. Orthopaedic surgeons continue to prioritize market attractiveness, patient satisfaction, and technological advancements in their choice of femoral head prostheses. Companies profiling in this space include those focusing on the expansion of their product offerings, as well as those specializing in niche areas such as Quadrants, Forefront, Pathfinder, Vital, Competitive nature, Amalgamation traits, and Fragmentation dominance. Consumer behavior analysis plays a crucial role in the femoral head prostheses market, as patient preferences, demographics, and geographical locations influence the choice of implant material. Patent analysis and technological advancements, such as robotic hip replacement, further shape the competitive landscape. In 2017, approximately 47% of hip arthroplasty procedures in the US utilized CoCr femoral heads, highlighting their continued popularity in the market.
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North America is estimated to contribute 58% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The global market is witnessing significant growth due to the increasing prevalence of hip dislocations and the rising number of hip replacement surgeries. Hip prostheses, including spherical head prostheses and femoral head prostheses, are essential components of these surgeries. The market is driven by factors such as osteoarthritis and rheumatoid arthritis, which often necessitate hip replacement procedures. Capacity expansions and plant turnarounds are strategic decisions being made by key players to meet the growing demand. Orthopaedic surgeons are at the forefront of this trend, utilizing the latest technological advancements, such as robotic hip replacement. Market attractiveness is analyzed through patent analysis, consumer behavior analysis, and competitive nature. Companies are profiling each other based on expansion, product satisfaction, and market share. The market is segmented into quadrants, with the leading companies occupying the forefront, pathfinder, niche, vital, and competitive nature categories. Amalgamation traits, such as fragmentation dominance and accumulation, are also being observed. Overall, the femoral prostheses market is expected to continue its growth trajectory in the coming years.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Femoral Head Prostheses Market: by End-user, Material and Geography - Forecast and Analysis
Femoral Prostheses Market: by Product and Geography - Forecast and Analysis
Femoral Stems Market: by Type and Geography - Forecast and Analysis
The market is witnessing significant growth due to the increasing number of hip dislocations, hip replacement surgeries, and trauma cases. Hip prostheses, including spherical head prostheses and femoral head prostheses, are in high demand to address conditions such as Osteoarthritis and Rheumatoid arthritis. Robotic hip replacement surgeries are gaining popularity due to their precision and minimal invasiveness, leading to capacity expansions and plant turnarounds among orthopaedic surgeons. Strategic decisions, market attractiveness, patent analysis, and technological advancements are key factors influencing the market.
Furthermore, consumer behavior analysis reveals a growing preference for personalized and durable prosthetic implants. The market is fragmented, with several players adopting amalgamation traits and niche strategies. Some companies are focusing on product satisfaction and expansion, while others are in the forefront, leading the pathfinder quadrant. The competitive nature of the market is driven by the vital role of femoral prostheses in improving patients' quality of life. Market leaders are continuously innovating to cater to the evolving needs of consumers, ensuring product accumulation and dominance in the industry.
Market Scope |
|
Report Coverage |
Details |
Page number |
136 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2024-2028 |
USD 768.1 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 58% |
Key countries |
US, Germany, China, France, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AK Medical Holding Ltd., Altimed JSC, Amplitude SAS, B.Braun SE, Baumer Holding AG, Beijing Chunlizhengda Medical Instruments Co. Ltd., Corentec Co. Ltd., Exactech Inc., Gruppo Bioimpianti Srl, Johnson and Johnson Services Inc., Lepine Group, Limacorporate SpA, Medacta International SA, Meril Life Sciences Pvt. Ltd., Olympus Corp., PETER BREHM GmbH, SERF, Smith and Nephew plc, Stryker Corp., Surgival Co., and Zimmer Biomet Holdings Inc. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
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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 Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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