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The femoral stems market size is forecast to increase by USD 215.8 million at a CAGR of 4.5% between 2023 and 2028. The market is experiencing significant growth due to the increasing prevalence of conditions such as osteoarthritis (OA), osteoporosis, and rheumatoid arthritis (RA), driving the demand for hip replacement surgeries. Furthermore, the focus on advanced technologies like robotic hip replacement surgeries is expanding the breadth and depth of product offerings in the market. However, the high cost of hip replacement surgeries and declining reimbursements pose challenges to market scalability. The emerging trend towards personalized medicine and patient-specific implants is also influencing product features and market dynamics. Despite these challenges, the market is expected to continue growing, driven by the increasing need for effective solutions to address the burden of musculoskeletal disorders.
The femur, a long bone in the human body connected to the hip bone, plays a crucial role in supporting the weight of the body. With the increasing number of hip replacement surgeries, the demand for femoral stem surgeries is on the rise. Young and active patients are opting for these surgeries to alleviate anterior thigh pain and regain mobility. Medical professionals are focusing on design improvements in femoral stems, including the use of short stems and minimally invasive surgeries. Robot-assisted surgeries are also gaining popularity due to their precision and reduced risk of complications.
Furthermore, material selection is a critical factor in femoral stem replacement. Medical innovations aim to address allergic responses, metal poisoning, infection, and bone loss. Development activities in healthcare infrastructure are driving the market, with public-private funding supporting research and innovation. The geriatric population is a significant consumer base, but product innovations cater to young patients as well. Comprehensive data analysis reveals that the market for femoral stems is expected to grow, driven by the increasing number of hip replacement surgeries and advancements in medical technology.
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.
The cementless femoral stems segment is estimated to witness significant growth during the forecast period. Cementless femoral stems are implants used in total hip replacement surgeries, featuring a porous coating or rough surface that enables new bone growth for a permanent bond with the bone. This fixation method, which is the preferred choice for young patients due to its long-term success and clinical efficacy, is available in two variants: conventional stems (approximately 150mm long) and short stems (less than 120mm). Medical professionals continually seek design improvements in these implants, focusing on material selection and patient comfort. The healthcare infrastructure's ongoing advancements facilitate the adoption and implementation of these innovations, ensuring optimal patient care. Cementless femoral stems' short length is particularly beneficial for patients with specific anatomical requirements or those experiencing anterior thigh pain.
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The cementless femoral stems segment accounted for USD 619.50 million in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 43% 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.
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The market in North America is experiencing significant growth, with the US and Canada being the primary revenue generators. This expansion is driven by several factors, including the rising adoption of innovative femoral stems, enhanced healthcare infrastructure, and the increasing incidence of orthopedic conditions and associated risk factors. In the US alone, the number of primary and revision total hip replacements is projected to reach approximately 1.45 million and 147,000, respectively, by 2035. The market's growth can be attributed to design improvements in femoral stems, such as the use of short stems, which offer better patient outcomes and reduced complications. Medical professionals are increasingly turning to these advanced solutions to alleviate anterior thigh pain and improve the overall success rate of hip replacement surgeries.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing prevalence of OA, osteoporosis, and RA is the key driver of the market. The human body's hip bone, specifically the femur, plays a crucial role in supporting the weight of the upper body and enabling mobility. Unfortunately, conditions such as osteoarthritis (OA) and osteoporosis affect a significant number of people worldwide, particularly the young and active population. According to the Centers for Disease Control and Prevention (CDC), over 30 million adults in the United States had OA as of 2017. OA is the fifth leading cause of disability globally, with an estimated increase in prevalence from 265.09 million to 375.55 million between 2011 and 2025. Osteoporosis, another common condition, affects an average of 9-11 million Americans, with an additional 43-45 million having low bone density, putting them at risk.
Furthermore, osteoporosis is a major contributor to hip fractures, wrist fractures, and vertebral fractures worldwide. The rising prevalence of these conditions necessitates an increased focus on hip bone health and hip replacement surgeries to improve mobility and quality of life for those affected.
Increasing focus on robotic hip replacement surgeries is the upcoming trend in the market. Hip replacement surgeries have seen a significant advancement with the integration of robotic platforms in the medical field. These systems cater to the unique anatomy of each patient, ensuring accurate implant placement during the procedure. Robotic surgery for hip replacements offers several advantages over traditional methods, including smaller incisions, minimal blood loss, and reduced tissue damage.
Moreover, the implants used in robotic surgeries are designed for long-lasting performance and optimal functionality. companies are investing heavily in research and development to create advanced surgical robots for precise component positioning during hip replacement procedures. The human body's hip bone, specifically the femur, benefits greatly from these technological advancements, catering to the needs of young, active patients seeking improved mobility and quality of life.
High cost of hip replacement surgeries and declining reimbursements is a key challenge affecting the market growth. The human body's hip bone, specifically the femur, plays a crucial role in supporting weight and enabling mobility. Hip replacement surgeries have become increasingly common among young, active patients seeking to restore mobility and alleviate pain.
However, the significant expense associated with these procedures, ranging from USD15,000 to USD35,000 on average, can hinder their accessibility in various developed and developing countries. The cost can escalate depending on factors like the complexity of the surgery, the expertise of the surgeon, hospital fees, diagnostic tests, insurance coverage, and post-operative medications. Moreover, a considerable number of patients require revision surgeries due to complications such as infection, implant failure, or wear, leading to additional financial burdens for both patients and healthcare facilities.
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 analysis strategies.
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 stems such as MR modular for bone splitting during implantation.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key 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 femur, also known as the thigh bone, is a key bone in the human body that plays a crucial role in hip replacement surgeries. With an increasing number of young, active patients opting for hip replacement surgeries, there is a growing demand for advanced femoral stems. Medical professionals are focusing on design improvements to cater to this demographic, including the development of short stems for minimally invasive surgeries and robot-assisted procedures. Femoral stem surgeries have seen significant advancements in material and product innovations, with cemented and cementless options available. These innovations aim to address common complications such as allergic responses, metal poisoning, infection, and bone loss.
Furthermore, the healthcare infrastructure is evolving to support the growing geriatric population, with public-private funding driving development activities. Product innovations in femoral stems include the use of cutting-edge materials and reliable data synthesis to ensure scalability and depth of product features. Emerging players in the market are introducing new product offerings to cater to the needs of young patients and address the challenges of osteoporosis. The market for femoral stems is expected to grow in the coming years, driven by the increasing prevalence of hip bone conditions and advancements in surgical techniques.
Market Scope |
|
Report Coverage |
Details |
Page number |
140 |
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 215.8 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 43% |
Key countries |
US, Germany, France, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AK Medical Holding Ltd., Altimed JSC, Amplitude Inc., B.Braun SE, BEZNOSKA Sro, Biotechni SAS, Corentec Co. Ltd., EVOLUTIS SAS, Exactech Inc., GROUP FH ORTHO, Gruppo Bioimpianti Srl, IMECO SA, ImplanTec GmbH, Johnson and Johnson Services Inc., Lepine Group, Limacorporate SpA, Medacta International SA, Meril Life Sciences Pvt. Ltd., PETER BREHM GmbH, Smith and Nephew plc, Stryker Corp., X.NOV, and Zimmer Biomet Holdings Inc. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market 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 Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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